Entries by ceadmin

Greek scandal sees Vodafone fined

Mobile phone giant Vodafone has been fined 76m euros ($100m; £51m) by a Greek privacy watchdog.

The Greek agency responsible for privacy said Vodafone had failed to protect its network from hackers who monitored 106 mobile accounts.

The accounts targeted included those of Greek Prime Minister Costas Karamanlis as well as senior military officers and journalists

Sentencing over Foodservice fraud

The ex-chief financial officer at US Foodservice, a unit of Dutch retailer Ahold, has been given three years’ probation over an accounting fraud.

Michael Resnick had pleaded guilty in September to one count of conspiracy.

The case stemmed from an inquiry into Ahold’s 2003 admission that earnings at the US business had been overstated by more than $800m (£493m)

AWB loses powers after Iraq probe

Australia’s wheat exporter AWB is to temporarily lose its monopoly over wheat exports, after a report into bribes paid to Iraq’s former regime.

A judicial inquiry found AWB broke United Nations oil-for-food programme rules by paying Saddam Hussein $222m (£112m) to secure contracts.

The government said AWB would lose its power to veto exports for six months

Daewoo founder loses fraud appeal

Kim Woo-choong, the founder of Daewoo Group, has lost his appeal against a conviction for embezzlement and fraud, but has had his jail sentence cut.

Kim, was found guilty of charges earlier this year, but will now serve eight-and-a-half years in prison rather than 10.

The 69-year-old also had the amount he must repay reduced from 21 trillion won (£22bn; £11

British Gas complaints ‘double’

British Gas is not only the UK’s most expensive energy provider, it also provides the worst customer service – according to research from Energywatch.

The consumer watchdog said complaints about British Gas in the six months to September were twice last year’s total, while complaints about its rivals fell.

The top problems were inaccurate bills and the lack of response to enquiries

Washington chip probe eyes Sony

US authorities are investigating Sony’s electronics unit and have asked for information about its static random access memory, or SRAM, business.

It comes two weeks after the Department of Justice launched an inquiry into fellow SRAM chip makers, Samsung and Cypress Semiconductor.

Sony said it would co-operate with the investigation, which it called an industry-wide inquiry

Mannesmann payouts retrial begins

The retrial of Deutsche Bank boss Josef Ackermann and five other former board members of mobile phone firm Mannesmann has begun in a Duesseldorf court.

Last year, the six were cleared over their roles in approving bonuses worth about 60m euros (£41m; $76m) related to Vodafone’s purchase of Mannesmann.

The decision was later overturned, reigniting the corruption trial

Regulators to investigate iSoft

Accountancy regulators are set to investigate troubled software firm iSoft and its auditors.

The Accountancy Investigation and Disciplinary Board (AIDB) is set to investigate iSoft’s directors and its former auditor, RSM Robson Rhodes.

In August, the board said it had uncovered evidence of irregularities affecting its 2004 and 2005 accounts