A member of the board of German chip firm Infineon has offered to step down following allegations of bribery.
Andreas von Zitzewitz, the firm said, was under investigation “in context with payments made for contracts regarding motorsport sponsorship”.
Dr von Zitzewitz led the firm’s memory chip unit, the core of operations at Europe’s second-biggest chip maker
MyTravel has been fined £240,000 ($450,000) by the City watchdog for failing to tell investors about a change in its profit forecasts.
The Financial Services Authority (FSA) said it had not told investors promptly about a one-off £24.3m ($45m)loss in 2002, which was likely to affect profits
Venezuela has ordered oil giant Shell to pay $131m (£74m) in what it says is unpaid tax, as part of a clampdown on alleged tax avoidance by foreign firms.
In a separate move, the country’s tax authority seized documents belonging to US oil firm Chevron which it said had not been produced upon request.
Venezuelan authorities have said that foreign firms may owe up to $3bn (£1
Former Worldcom boss Bernard Ebbers has been sentenced to 25 years in jail for his part in the scandal which brought down the firm.
Mr Ebbers was found guilty of fraud and conspiracy in March, following revelations of an $11bn (£6.2bn) accounting fraud at Worldcom in 2002
The European Commission has raided the offices of Intel and other computer makers across Europe as part of a probe into possible anti-trust violations.
Intel has been involved in a lengthy investigation by Brussels over alleged unfair trade practices.
“The investigations are being carried out within the framework of an ongoing competition case,” said European Commission spokesman Jonathan Todd
Volkswagen has postponed making a decision on plans to build a new factory in India in the wake of a bribery scandal at the German carmaker.
Business daily Handelsblatt said VW boss Bernd Pischetsrieder had put the plans on hold amid allegations of bribes relating to the project.
Last week VW called in auditors KPMG to review bribery allegations at the firm
South Korean prosecutors have charged the founder of one of the country’s biggest industrial groups with fraud.
Kim Woo-Choong is accused of falsifying the books at the Daewoo Group and procuring loans under false pretences.
The group collapsed in 1999 under debts totalling more than $80bn (£45bn) and Mr Kim fled the country, only returning last month
Microsoft is to pay $775m (£438.4m) to computer giant IBM to settle an anti-trust claim.
Under the settlement, the software maker will also give IBM a $75m credit for its computer programmes
Citigroup, the US owner of Citibank, is to be fined £13.9m ($25.31m) by the UK’s Financial Services Authority (FSA) after a controversial bond trade
Financial regulators are investigating how computer giant IBM awarded share options to its staff earlier this year.
IBM revealed on Monday that it was the subject of an informal probe by the Securities and Exchange Commission (SEC) and was co-operating fully.
The inquiry is thought to be linked to IBM’s announcement of disappointing quarterly trading results in April