British oil company BP could face a criminal investigation in the US over a massive oil spill in Alaska in March.
The Financial Times newspaper has obtained internal emails which show it is under investigation by a grand jury.
The emails reveal BP has been ordered to hand over a number of documents and other data relating to the leak thought to be caused by a corroded pipe
Shares in the in-flight catering and retail firm Alpha Airports have been suspended after its auditors questioned the validity of its financial results.
Alpha asked for a temporary suspension after PricewaterhouseCoopers (PwC) withdrew its approval of its full-year results published last month.
The firm said it was urgently seeking clarification of PwC’s concerns
Insurer Royal Liver has been fined £550,000 (US$1m) for mis-selling with-profits policies by the Financial Services Authority (FSA).
The firm was found to have sold policies to customers who had no “demonstrable” need for them.
As a result of the mis-selling policyholders were exposed to too much investment risk, the FSA added
Water firm Severn Trent has confessed it has given industry regulator Ofwat more false information.
The company says it had misreported statistics about the way it handles complaints from customers and enquiries about bills.
The admission echoes a similar problem revealed last month at Southern Water, which will lead to a fine for Southern
GlaxoSmithKline (GSK) has agreed to pay $14m (£8m) to settle US claims that it fraudulently tried to delay competitors to anti-depressant drug Paxil.
It agreed the deal with Eliot Spitzer, New York Attorney General, who brought the case on behalf of 49 states.
GSK was accused of using frivolous patent-infringement lawsuits against generic producers of Paxil, keeping the drug’s cost higher than necessary
A high-ranking partner at accounting giant KPMG pleaded guilty to helping fabricate $11.2 billion in fake tax shelters so America’s wealthiest families could beat income taxes.
The guilty plea yesterday in Manhattan federal court of David Rivkin, 42, could mean a devastating blow to a gang of 16 accounting execs at KPMG charged in the massive tax shelter scam
Accounting firm KPMG LLP will pay an undisclosed amount to settle a $50 million malpractice lawsuit brought by former client Targus Group International Inc., according to court officials.
The settlement was reached early on Tuesday after some six months of negotiations between KPMG and privately held Targus, a maker of computer cases based in Orange County, California, said court officials close to the case
Venezuela has hit UK oil giant BP with a $61.4m (£35m) back tax bill.
The country’s tax authority, the Seniat, said the figure arose from the firm’s operations in the country between 2001 and 2004
The chairman of outsourcing firm Capita is stepping down over “spurious” claims his £1m loan to Labour resulted in the group getting government contracts.
Rod Aldridge, one of 12 donors who lent the party almost £14m in total before the last election, said he did “not want this misconception to continue”.
Chancellor Gordon Brown said the political funding system had to be reformed to increase “transparency”
A subsidiary of the giant Capita group has been fined by the Financial Services Authority (FSA) after some of its staff helped to defraud customers.
The frauds took place in 2004 at Capita Financial Administrators (CFA) which administers the customer accounts of unit trust companies.
The police are investigating how up to 26 customers lost £328,000 and attempts were made to steal a further £1