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BA bosses in price-fixing charge

Four current and former British Airways executives have been charged with involvement in fixing the prices of plane fuel surcharges.

BA’s head of sales Andrew Crawley and ex-commercial director Martin George are due to appear before City of London Magistrates Court on 24 September.

Also due up are former communications head Iain Burns and former UK and Ireland sales chief Alan Burnett

Prosecutors charge Samsung chief

The chairman of South Korean firm Samsung, Lee Kun-hee, has been indicted for tax evasion and breach of trust, prosecutors say.

The announcement follows a three-month investigation into alleged corruption at South Korea’s biggest conglomerate.

But the probe cleared the firm of allegations by a former executive that it used a multi-million dollar slush fund to bribe prosecutors and judges

Prosecutors question Samsung boss

The boss of South Korea’s Samsung Group has appeared before special prosecutors to be questioned over allegations of corruption at the firm.

Lee Kun-hee, chairman of the company, the country’s largest conglomerate, is being questioned in regard to an investigation that started in January.

Samsung is accused of operating a 200bn won ($215m; £108m) slush fund to bribe prosecutors, judges and civil servants

SEC sues UK hedge fund and boss

The US Securities and Exchange Commission (SEC) says it is suing UK hedge fund Pentagon Capital Management and its chief executive, Lewis Chester.

The watchdog alleges the fund and Mr Chester have schemed to defraud mutual funds and shareholders in the US.

London-based Pentagon Capital said last week it was winding down two funds because it expected the SEC to file civil complaints against Mr Chester

AB Volvo fined for Iraq kickbacks

The Swedish lorry maker AB Volvo has agreed to pay millions of dollars in fines in connection with an inquiry into Iraq’s UN oil-for-food programme.

It will pay a $7m (£3.5m) fine to the US Department of Justice (DOJ) and $4m in civil fines to the Securities and Exchange Commission

Starbucks must pay $100m in tips

A US judge has ordered Starbucks to repay its California coffee-makers more than $100m in tips that were paid to shift supervisors.

San Diego Superior Court Judge Patricia Cowett said the coffee-makers – “baristas” – were entitled to $86m in back tips, plus interest.

She issued an injunction banning supervisors from sharing future tips

Record £14m fine for rail company

Network Rail has been fined a record £14m by the railway regulator, after engineering work over-ran during the Christmas and New Year period.

But the company says that without further delays, it risks not meeting a December deadline for finishing work to the West Coast Main Line at Rugby.

Passengers now face extra disruption through the summer, as lines are closed in order to complete the work

EU fines Microsoft record $1.4bn

The European Commission has fined US computer giant Microsoft for defying sanctions imposed on it for anti-competitive behaviour.

Microsoft must now pay a record 899m euros ($1.4bn; £680

£41m meters fine for National Grid

UK Power distributor National Grid has been fined £41.6m ($80m USD) for restricting competition in the UK’s gas metering market.

Energy regulator Ofgem said the company, which owns 99% of the UK’s gas meters, had “severely restricted” rival suppliers from replacing its equipment with cheaper or more advanced devices

EU regulator raids Intel offices

Intel, the world’s biggest computer chipmaker, has been raided by European Union competition regulators amid claims it abused its market position.

Chuck Mulloy, a spokesman for Intel, said the regulators raided the company’s office in Munich, Germany.

Mr Mulloy said Intel was co-operating with the investigators