Shares in Japanese electronics giant Sanyo have sunk 21% on news that watchdogs are probing its accounts.
The Securities and Exchange Surveillance Commission is investigating claims of financial window-dressing at the group.
According to reports, Sanyo is said to have falsified its 2003 report to post a small profit rather than a loss
Article – Ethical fund ‘tops league table’For the first time, an ethical investment fund has topped the performance chart of 324 unit trusts investing in the UK stock market. The Co-operative Insurance Sustainable Leaders fund is the best performing unit trust over the past year. Unit trusts pool investor cash to buy shares in various […]
Samsung Electronics has agreed to pay $90m to settle legal action over microchip price-fixing allegations.
It must also co-operate in suits against other microchip manufacturers.
The South Korean company faced claims customers had been forced to overpay for equipment containing its dynamic random access memory (DRAM) chips
Wal-Mart will face a lawsuit claiming pay discrimination against more than a million female US employees after a court approved the action.
A federal appeals court upheld a 2004 ruling giving the lawsuit class action status, sanctioning claims from up to 1.5 million current and former staff
The chairman of Hyundai Motor Company, one of South Korea’s biggest firms, has been sentenced to three years in jail for embezzlement and breach of trust.
Chung Mong-koo, 68, was accused of amassing a multi-million dollar slush fund for personal use and to pay lobbyists and politicians.
A spokesman for South Korea’s top auto maker said the ruling was disappointing and that an appeal would be filed
GE Capital Bank, which is behind many High Street store cards, has been fined £610,000 ($1.2m) for payment protection insurance (PPI) sales breaches.
The Financial Services Authority (FSA) said the General Electric UK subsidiary failed to adequately control insurance sales and to treat customers fairly
Secret emails reveal that the UK’s biggest drug company distorted trial results of an anti-depressant, covering up a link with suicide in teenagers.
Panorama reveals that GlaxoSmithKline (GSK) attempted to show that Seroxat worked for depressed children despite failed clinical trials.
And that GSK-employed ghostwriters influenced ‘independent’ academics
Peter Hartz, the official at the centre of a bribery scandal surrounding car giant Volkswagen, has been given a two year-suspended prison sentence.
Hartz, a guiding hand behind former German Chancellor Gerhard Schroeder’s labour reforms, was fined 560,000 euros ($726,000; £369,000).
The former head of personnel at Europe’s biggest carmaker escaped jail after cutting a deal with prosecutors
Volkswagen’s former personnel chief Peter Hartz has admitted making illegal payments to union officials.
The confession, made through his lawyers, came at the start of his corruption trial in Germany.
A one-time advisor to former Chancellor Gerhard Schroeder, Mr Hartz faces 44 charges of breach of trust
Australia’s wheat exporter AWB has been suspended from US government contracts and faces permanent exclusion, for paying bribes to Iraq’s former regime.
The step was taken “based on evidence of illicit activities”, said US Agriculture Secretary Mike Johanns.
Last month, a judicial inquiry found AWB broke UN oil-for-food programme rules by paying Saddam Hussein $222m (£112m) to secure contracts