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
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
US federal prosecutors have built a criminal case against KPMG and are debating whether to file charges, the Wall Street Journal reported.
KPMG, one of the “big four” global accounting firms, said on Thursday it was in talks with the US Justice Department and co-operating fully.
It said it took “full responsibility for the unlawful conduct by former KPMG partners” and deeply regretted it
Mortgage lender Abbey has been fined £800,000 ($1.47m) by the City watchdog for mishandling complaints from its customers over endowment policies.
The Financial Services Authority (FSA) also said Abbey gave the regulator inaccurate information while failing to treat its customers fairly
Lloyds TSB has been accused of breaking the banking code of practice by giving loans to people who cannot afford them.
The BBC programme Real Story has found that one south Wales couple on a low income was lent £100,000 by the bank.
The Banking Code Standards Board has said it is investigating the actions of the bank
GlaxoSmithKline shares have fallen almost 2% amid fears a US inquiry into manufacturing quality could be widened and may possibly lead to a big fine.
On 4 March the US Food and Drug Administration (FDA) seized batches of two drugs from the Puerto Rico plant.
Regulators said its diabetes treatment Avandamet and anti-depressant Paxil CR tablets failed to meet safety standards – but did not pose a health risk
A US consumer privacy group has called for a global boycott of Tesco stores over the company’s trial of Radio Frequency Identification (RFID) chips.
The technology allows products to be tracked via radio waves.
Privacy groups have labelled them “spy chips” because they fear the tags attached to products, can be used to track the behaviour of customers
Up to 350,000 HSBC small business customers could face a quadrupling of banking costs following significant charge increases.
Those with a turnover of less than half a million must now pay much more for using the branch to do their banking.
Charges include 27 pence for every cheque paid in, and 50 pence out of every £100 cash deposited at any HSBC bank
The European Commission has started a formal inquiry into claims that BT has received illegal tax breaks in the UK worth billions of pounds.
The investigation, focusing on the way business rates are levied, follows a complaint from a rival telecoms firm.
Vtesse says BT and Hull-based Kingston Communications have had an unfair advantage over other companies in the sector since 2000
A tribunal is to cut Legal & General’s £1.1m ($2m) fine for mis-selling but upheld a Financial Services Authority ruling that the insurer mis-sold endowments.
The Financial Services and Markets Tribunal, which reviewed L&G’s appeal, said L&G was guilty of mis-selling