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Bribery Probes in UK, U.S. and Brazil Settled for $809 Million by Rolls-Royce

Bribery Probes in UK, U.S. and Brazil Settled for $809 Million by Rolls-Royce

Through a series of payments totaling 671 million pounds ($809 million), British engineering group Rolls-Royce Plc intends to bring to an end and settle cases of alleged bribery and corruption involving intermediaries with settlements with authorities in Britain, the United States and Brazil, the...
Iridium Communications Hails SpaceX launch and the Dawn of Historical 'Tech Refresh'

Iridium Communications Hails SpaceX launch and the Dawn of Historical 'Tech Refresh'

As Iridium Communications hailed SpaceX's first lift-off since an explosion last fall, the former said that SpaceX's successful launch of 10 satellites for Iridium Communications marks the beginning of one of the biggest "tech refreshes" in history.   Delivering the satellites into low-Earth...
Iran Deals the Difference in Plane Battle Between Airbus and Boeing

Iran Deals the Difference in Plane Battle Between Airbus and Boeing

In the course of the past two decades, it was usually clear, between planemakers Airbus and Boeing, who had bragging rights in the fiercely competitive $120 billion annual jet market and the planemakers ave traded the crown in the annual orders race.   And this week beating Boeing's tally of...
Settlement Over Pre-Crisis Ratings Made by Moody’s with U.S., States for $864 Million

Settlement Over Pre-Crisis Ratings Made by Moody’s with U.S., States for $864 Million

The U.S. Department of Justice announced that in relation to its ratings of risky mortgage securities in the run-up to the 2008 financial crisis and which was partly responsible for the financial crisis and looses of millions to investors and banks, Moody's Corp has agreed to pay nearly $864...
In South Korea Corruption Scandal, Samsung Leader Quizzed for Over 22 Hours

In South Korea Corruption Scandal, Samsung Leader Quizzed for Over 22 Hours

Samsung Group leader Jay Y. Lee was grilled for more than 22 hours on bribery suspicions in an influence-peddling scandal that could topple South Korean President Park Geun-hye, by the South Korean special prosecutor's office.   Allegations that in exchange for the national pension fund's...
$4.3 billion U.S. Settlement Over Diesel Emissions Confirmed by Volkswagen

$4.3 billion U.S. Settlement Over Diesel Emissions Confirmed by Volkswagen

In order to resolve its diesel emissions troubles and plans to plead guilty to criminal misconduct, Volkswagen AG confirmed that it has negotiated a $4.3 billion draft settlement with U.S. regulators.   As the automaker looks to restore its tarnished global brand, the guilty plea is part of...
$8.8 billion LCD plant in China to be Built by Foxconn Joint Venture

$8.8 billion LCD plant in China to be Built by Foxconn Joint Venture

To produce liquid-crystal displays (LCDs), a 61 billion yuan ($8.8 billion) factory in China is being planned to be built by a joint venture between Hon Hai Precision Industry Co, known as Foxconn, and Sharp Corp.   Sakai Display Products Corp said at a signing event with local officials in...
Bank Investor says Online Bank to be Launched Soon, Backed by Xiaomi

Bank Investor says Online Bank to be Launched Soon, Backed by Xiaomi

After being officially established and rebranded recently, according to one of the venture's investors as reported in the media, a Chinese online bank backed by smartphones and home appliances maker Xiaomi Inc  is set to launch its services soon.   Shareholders and regulators had...
As Toshiba Weighs Options, Writedown Fears Wipe $5 Billion Off Toshiba's Value

As Toshiba Weighs Options, Writedown Fears Wipe $5 Billion Off Toshiba's Value

As the Japanese conglomerate Toshiba Corp grapples to plug a potential multi-billion dollar hole, a looming writedown at the company has wiped almost $5 billion off its value in two days and prompted a credit rating downgrade on Wednesday.   Toshiba said late on Tuesday that it could face...
For Violating Competition Laws, South Korea Fines Qualcomm $854 Million

For Violating Competition Laws, South Korea Fines Qualcomm $854 Million

For what the South Korea's antitrust regulator called unfair business practices in patent licensing and modem chip sales, the regulator fined Qualcomm Inc 1.03 trillion won ($854 million). The U.S. chipmaker said it will challenge the decision court.   At a time when the business is facing...
Analysts Warn that More Responsible People on its Board Needed by Deutsche Bank

Analysts Warn that More Responsible People on its Board Needed by Deutsche Bank

Analysts have warned that the Deutsche Bank needs more money and the right people on board even though shares in the bank were soaring on the news of a $7.2 billion settlement with the U.S. Department of Justice on the mis-selling of mortgage-backed securities during the global financial crisis....
Air Cargo is the New Place that Amazon has Started Flexing Muscles

Air Cargo is the New Place that Amazon has Started Flexing Muscles

Amazon.com Inc has leased 40 jets to meet the delivery demands from the retail giant's customers.   However valued business from FedEx Corp and United Parcel Service Inc. are being taken away from them by the company as the Prime Air planes are flying nearly full with lightweight loads, as...
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World

Ukraine's Bold Kursk Incursion Shakes Russian Defense And Alters War Dynamics

Ukraine's Bold Kursk Incursion Shakes Russian Defense And Alters War Dynamics
Ukraine's recent incursion into Russian border territory has caused significant upheaval, revealing internal challenges within Russia's military and strategic command. This unexpected operation,...

US Treasury Secretary Yellen Says $3 Trillion A Year Is Required For Climate Funding, Much More Than What Is Now Available

US Treasury Secretary Yellen Says $3 Trillion A Year Is Required For Climate Funding, Much More Than What Is Now Available
The largest economic opportunity of the twenty-first century, according to U.S. Treasury Secretary Janet Yellen, is to close the $3 trillion annual capital gap that would arise from the world's...

Turkey Gets Taken Off The "Grey List" For Money Laundering By A Financial Crime Monitor

Turkey Gets Taken Off The "Grey List" For Money Laundering By A Financial Crime Monitor
In a significant vote of confidence for Turkey amid its attempts to revive its economy, the Financial Action Task Force, an international watchdog group devoted to preventing money laundering and...

Global Warming Causes The First 12-Month Period Above 1.5C

Global Warming Causes The First 12-Month Period Above 1.5C
According to the European Union's climate change monitoring service, the world just had its warmest January on record, making it the first 12-month period in which average temperatures were more than...

2023 Was The Second-Warmest Year Ever For The UK

2023 Was The Second-Warmest Year Ever For The UK
The national weather service of the United Kingdom, Met Office, announced that 2023 was the second-warmest year on record for Britain. This finding highlights the increasing influence of human-caused...

People

Kamala Harris Targets GOP Economic Criticism With New Policy Proposals

Kamala Harris Targets GOP Economic Criticism With New Policy Proposals
Vice President Kamala Harris on Friday presented a comprehensive economic policy agenda aimed at countering criticisms from Republicans and addressing key middle-class concerns. Speaking in Raleigh,...

Musk Gives To An Organisation That Supports Trump's Election: Bloomberg

Musk Gives To An Organisation That Supports Trump's Election: Bloomberg
According to a Bloomberg story quoting sources, billionaire Elon Musk, who has been criticising US President Joe Biden more and more, has contributed to a political organisation that aims to elect...

New Study Finds People Who Were Class Bullies Could Make Higher Incomes In Their Middle Age

New Study Finds People Who Were Class Bullies Could Make Higher Incomes In Their Middle Age
A recent study challenges the widely held belief that school bullies would eventually get their comeuppance by indicating that they are likely to end up with greater earnings. The Institute for...

In A New York Corporate Fraud Lawsuit, Trump Slapped Fines And Interest Of $454 Million

In A New York Corporate Fraud Lawsuit, Trump Slapped Fines And Interest Of $454 Million
A New York judge ruled in the former president's civil business fraud trial on Friday, ordering him to pay a total of approximately $454 million in penalties.   According to an attorney...

Survey Finds 80% Employees In Asia Face Moderate To High Risk For Mental Health Issues

Survey Finds 80% Employees In Asia Face Moderate To High Risk For Mental Health Issues
Employees in Asia are under "significant mental health strain," with 82% at moderate to high risk of being depressed.   According to a recent study by insurance broker Aon and TELUS Health,...