Ericsson risked workers lives by Islamic State
/0 Comments/in Ericsson /by ceadminThe telecoms company Ericsson put contractors’ lives at risk by insisting they continued working in territory controlled by the Islamic State [IS] group in Iraq. This resulted in them being kidnapped by IS militants.
Post Office scandal: Public inquiry to examine wrongful convictions
/0 Comments/in Post Office /by ceadminBetween 2000 and 2014, more than 700 sub-postmasters were wrongly accused of theft, fraud and false accounting due to a flaw in a computer system Horizon.
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US exchange sued by pension fund
/0 Comments/in NYSE /by ceadminThe US’s largest pension fund, Calpers, has sued the New York Stock Exchange and seven specialist trading firms alleging trading abuses.
The lawsuit said improper trading by the specialist firms went unchecked by the NYSE.
“We are filing today a landmark lawsuit to recover losses and to right a serious wrong that exists at the New York Stock Exchange,” Calpers said
Tyson Foods not offering severance pay
/0 Comments/in Tyson Foods /by ceadminMANCHESTER, N.H. (AP) — The union representing assembly line workers at Tyson Foods in Manchester says the company is not offering severence pay to most of the workers who will lose their jobs when plant closes in February
Alaska well explosion may cost BP $2.5 mln fine
/0 Comments/in BP Amoco /by ceadminANCHORAGE, Alaska, Dec 15 (Reuters) – An Alaska agency has notified BP Exploration (Alaska) Inc., a unit of BP Plc
Halliburton Questioned regarding Iran
/0 Comments/in Halliburton /by ceadminNew York official wants information
By DAVID IVANOVICH
Copyright 2003 Houston Chronicle Washington Bureau
WASHINGTON — New York City’s comptroller is prodding Houston-based Halliburton Co. to release more details about its business dealings in Iran.
William Thompson Jr
State Tax Report
/0 Comments/in Pfizer /by ceadminIn a decision that reinforces the states right to tax companies on all transactions, Chancellor Carol McCoy ruled against Pfizer, Inc., in its lawsuit against Tennessee Commissioner of Revenue Loren Chumley.
Pfizer has misconstrued the statutory classifications, McCoy said in her judgment
Halliburton in Iraq fuel costs row
/0 Comments/in Halliburton /by ceadminWashington (BBC)- Halliburton, the oil services and construction group, has been accused by US lawmakers of charging “inflated prices” when they sell petrol to US troops in Iraq.
Halliburton charges the US government more than $1.59 (£0
Questionable Advertising
/0 Comments/in British Airways /by ceadminEurostar, the cross-Channel train operator, has called on regulators to scrutinise adverts by British Airways that it says are misleading.
Guillame Pepy, Eurostar’s boss, has asked France’s competition and anti-fraud body, the DGCCRF, to investigate ads offering cheap flights between Paris and London.
The complaint is about French ads that offer customers “London at 29
Woman, 102, dies after ‘eviction’
/0 Comments/in Lifestyle Care Homes /by ceadminA 102-year-old woman who was forced to leave the care home where she had lived for nine years has died.
Winifred Humphrey had been told she must leave Bradley House in Whitstable, Kent, because the owners no longer wanted council-funded residents.
She was transferred, with 11 other residents, to another care home less than a mile away on 20 June
Microsoft faces new probe
/0 Comments/in Microsoft Corporation /by ceadminThe US state of Massachusetts is investigating whether the software giant Microsoft has violated its anti-trust settlement with 18 other states.
Massachusetts said it would look at allegations that the company retaliated against a computer maker for promoting the rival operating system, Linux.
In a court filing, the state said that none of the allegations had been resolved and it would “move forward on an enforcement path should its investigations identify provable violations”
Qwest settles fraud investigation
/0 Comments/in Qwest Communications /by ceadminQwest Communications settled a long-standing consumer fraud lawsuit with the Arizona Attorney General’s Office Monday by agreeing to pay a $3.75 million fine and to better inform customers about their options.
The suit, filed in 2001 by then-Attorney General Janet Napolitano, accused Qwest of numerous violations of Arizona’s Consumer Fraud Act, including placing unauthorized charges on consumers’ bills; failing to disclose charges associated with repairs and installation; engaging in false and misleading advertising; and setting up customer service departments that frustrate consumers’ attempts to resolve problems
BP closes deal with Russia
/0 Comments/in BP Amoco /by ceadminLONDON, England — British oil group BP and Russia’s TNK have signed a multibillion-dollar contract to create a joint energy venture, the biggest single foreign investment deal in post-Soviet Russian history.
The agreement, signed Thursday in a joint statement by the companies, will see BP invest a total of $6.15 billion (5
FDA tells Glaxo to pull misleading Flonase ads
/0 Comments/in GlaxoSmithKline /by ceadminU.S. regulators ordered GlaxoSmithKline Plc to pull radio and print advertisements for its Flonase prescription nasal allergy spray that the Food and Drug Administration deemed misleading
Ordered to pull misleading adverts
/0 Comments/in GlaxoSmithKline /by ceadminThe US government has ordered a drug giant to quit running a series of radio and newspaper ads that call the allergy spray Flonase a cost-effective alternative to pricey allergy pills.
The ad campaign urged allergy sufferers to ask their doctor about Flonase, a nasal spray, instead of antihistamine pills like Allegra and Zyrtec. Flonase maker GlaxoSmithKline began the ads shortly after insurance companies raised prices for the pills this spring
Tyson pleads guilty in pollution case, will pay $7.5 million in fines
/0 Comments/in Tyson Foods /by ceadminTyson Foods Inc. pleaded guilty Wednesday to 20 felony violations of the federal Clean Water Act and agreed to pay $7.5 million in criminal and civil fines
Tax shelter summons
/0 Comments/in Jenkens and Gilchrist /by ceadminWASHINGTON (CBS.MW) – U.S
Fannie Accounting
/0 Comments/in Fannie Mae /by ceadminNEW YORK (Reuters) – Franklin Raines, chief executive officer of Fannie Mae, the nation’s largest home mortgage finance company, said it does not face the same accounting questions as its smaller rival sister Freddie Mac.
On June 9, Freddie Mac replaced its top three executives over an accounting probe about how the No. 2 U
Sprint Settles Allegations of Contracting Fraud
/0 Comments/in Sprint Telecommunications /by ceadminNEW YORK — Sprint Corp. agreed to pay roughly $5.6 million to the U
300 Job Cut
/0 Comments/in Sprint Telecommunications /by ceadminSprint today announced that it would be cutting 300 workers without any redundancy or job severence pay.
Excessive Spending
/0 Comments/in AOL TimeWarner /by ceadminDot-com boom begot obscene wealth and trouble
CALL it the privilege of wealth, AOL-style. The dot-com feeding frenzy was creating obscene riches at virtually every level of the company.
It was a simple calculus: dot-coms paid whopping fees to promote their wares on AOL
Europe Inquiry Into Pokémon Distribution
/0 Comments/in Topps Company /by ceadminThe Topps Company, maker of trading cards and Bazooka bubble gum, said yesterday that the European Union Commission found that the company’s Pokémon stickers and cards might have violated antitrust laws.
The European Commission claimed that Topps’s European unit and distributors used an elaborate strategy to prevent exports from low-price to high-price countries in the European Union.
The company, which is based in New York, said that its European units were planning a full response to the commission’s claim and that it would defend its interests
Employee Assets Frozen
/0 Comments/in Norwich Union /by ceadminThe bank accounts of a Norwich Union employee at the centre of a £1.5m fraud have been frozen.
Carol Birrell, originally from Liverpool, is one of 30 people from Merseyside named in a writ lodged at London’s High Court by Norwich Union Insurance of Surrey Street
$355m fraud fine
/0 Comments/in AstraZeneca /by ceadminAnglo-Swedish drug giant AstraZeneca has agreed to pay $354.9m to settle charges it defrauded the US healthcare system.
The company admitted giving free samples of cancer drugs to doctors, who then billed Medicare for the full price
Cablevision financial irregulatories
/0 Comments/in Cablevision Systems /by ceadminNEW YORK Cablevision Systems (CVC) tried to head off a potentially damaging financial scandal Wednesday by disclosing that an internal investigation turned up years of misreported expenses and fabricated invoices at cable channel American Movie Classics.
Although the company says the amounts of cash involved are too small to require a restatement of earnings, it fired AMC president Kate McEnroe and 13 other employees mostly senior staff. Rainbow Media CEO Josh Sapan, who oversees Cablevision’s programming services, is temporarily in charge
Citicorp Brokerage Executive Fired
/0 Comments/in CitiGroup /by ceadminNEW YORK (Reuters) – Citigroup Inc. C.N , the world’s largest financial services company, has fired William Maguire, the top executive in its Citicorp brokerage unit, the New York Times said on Thursday, citing a Citigroup spokesman
Martha Stewart appears in Court
/0 Comments/in Martha Stewart Living Omnimedia /by ceadminThe domestic style setter is facing federal obstruction of justice charges, related to an investigation of her December 2001 sale of almost 4,000 shares of biotech firm ImClone Systems before bad news about one of its key drugs was revealed to the public. Stewart and her attorneys have denied any wrongdoing in the case.
Stewart, whose June 4 arraignment in court was a media circus, is heading into court for what is known as a status conference, in which lawyers on the two sides of the case can raise issues before the judge and discuss a schedule
The whistleblowing bankers who were sent to jail
/0 Comments/in Barclaycard, United Kingdom, United States /by ceadminTwo traders jailed for rigging interest rates were the original whistleblowers of the scandal, and not the bosses that directed them to carry out the illegal actions. Leaked audio recordings reveal Peter Johnson and Colin Bermingham alerted the US central bank to a fraud that the tapes suggest was directed from the top of the financial system.