South Korean prosecutors have indicted the chairman of carmaker Hyundai Motor for his alleged role in a bribery and embezzlement scandal.
Chung Mong-Koo was arrested at the end of April and has been accused of creating slush funds to pay politicians and officials for business favours.
He also is accused of transferring funds and shifting corporate controls to his son, Chung Eui-Sun
A computer glitch at Citibank branches in Japan has caused 274,800 incorrect transactions over the past week, the latest Japanese problem at the firm.
As a result of the error, some account holders had transactions wrongly recorded twice, while others took place but then did not appear on statements.
Citibank said the computer problem had now been fixed
A Toyota employee has filed a $190m (£103m) lawsuit in the US, alleging that the carmaker’s top American boss sexually harassed her.
Sayaka Kobayashi, 42, claims Toyota North American chief executive Hideaki Otaka, 65, made repeated sexual advances to her in 2005.
Toyota said it had a “zero tolerance” policy towards sexual harassment, but declined to make any further comment
The chairman of Hyundai Motor Group, Chung Mong-Koo, has been arrested in South Korea on embezzlement charges.
Mr Chung and Hyundai are accused of creating slush funds to pay politicians and officials for business favours.
A Seoul judge said earlier that he had issued the arrest warrant because he feared Mr Chung may go into hiding or tamper with evidence
South Korean prosecutors have asked for an arrest warrant for Chung Mong-koo, head of the Hyundai motor group, on embezzlement charges.
He is at the centre of allegations of illegal political lobbying.
The car giant is suspected of creating a slush fund to pay politicians and officials for business favours
The chairman of Hyundai, Chung Mong-koo, is being questioned by South Korean prosecutors about allegations of illegal political lobbying.
As he arrived at the prosecutors’ office in Seoul, Mr Chung again offered an apology to the South Korean people.
The car giant is suspected of creating a slush fund to pay politicians and officials for business favours
JPMorgan has agreed to pay $425m to settle a lawsuit alleging it manipulated the market for initial public offerings during the technology boom of the late 1990s, the bank said on Thursday.
The deal is the first in the case and could put pressure on other Wall Street banks to pay billions in aggregate.
The eventual overall settlement is likely to be the largest private recovery for investors burned by Wall Street’s aggressive tactics during the bull market
Drugs firm Merck has been ordered to pay $32m (£18m) in damages after its Vioxx painkiller was found to have contributed to a fatal heart attack.
A Texas jury awarded $25m in punitive damages and $7m in compensatory damages – holding the firm liable after a 71-year-old died after taking the drug.
Merck will appeal and said Leonel Garza had died after years of heart disease
Hyundai has made a public apology and pledged to donate assets to charity amid a widening probe into alleged corruption at the Korean car giant.
The firm, which is being investigated by prosecutors over claims of illegal political lobbying, said it would fully co-operate with the inquiry.
Hyundai said its chairman Chung Mong-Koo and his son would set aside assets worth 1 trillion won ($1bn)
Microsoft has lost the latest round of its battle against sanctions in Europe.
A US judge quashed the firm’s demands that rival Novell hand over documents it presented to the European Commission for use in an anti-trust case.
The judge in the case said he had turned down the request as Microsoft was trying to “circumvent and undermine” European law