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Economy 14 Jan 2014 | 12:00 AM

Most firms see bribery as part and parcel of doing business

PETALING JAYA: An alarmingly high percentage of Malaysian businesses, including a significant number of listed companies on Bursa Malaysia, see bribery and corruption as an “inevitable cost of doing business”, a survey by KPMG Malaysia revealed.

Business 26 Jul 2013 | 8:28 AM

US judge approves IBM's foreign bribery case settlement with SEC

WASHINGTON, July 25 (Reuters) - A U.S. judge on Thursday said he had approved IBM's 2011 settlement with U.S. regulators over charges of foreign bribery after prolonged consideration of whether regulators should have more aggressively investigated the case.

Business 23 Oct 2013 | 8:29 PM

Bribery scandal slashes GlaxoSmithKline's Chinese drug sales

LONDON: GlaxoSmithKline's drug sales in China slumped 61 percent in the third quarter, hit by a bribery scandal that has damaged its ability to market products in the country and pushed some sales into the hands of rivals.

Business 20 Jun 2011 | 12:00 AM

The UK Bribery Act is coming, are you ready for it?

IN May last year, I wrote an article titled i>How not to win a corruption pageant/i>. In this article, I discussed the issue of bribery and corruption generally and made reference to the US Foreign Corrupt Practices Act (FCPA), the Australian Bribery of Foreign Public Officials legislation and the 'soon-to-be-passed UK Bribery Act'.

Business 24 Apr 2012 | 12:00 AM

Wal-Mart shaken by bribery probe, shares plunge

CHICAGO/MEXICO CITY (Reuters) - Wal-Mart Stores Inc lost $10 billion of its market value on Monday on concerns that a bribery investigation in Mexico could be very costly and hinder its plans to grow.

Business 30 Jun 2014 | 8:02 AM

Sex video is new twist in GSK China bribery scandal

LONDON: GlaxoSmithKline on Sunday confirmed the existence of an intimate video recording of its former China head, Mark Reilly, which the Sunday Times reported kicked off a bribery investigation that has damaged the drugmaker's business in China.

Business 17 Jul 2013 | 1:04 PM

Chinese State Paper Slams Multinationals Over Bribery, High Prices

BEIJING: China must crack down on commercial bribery by multinational firms, the country's top state paper said on Wednesday, two days after police accused British drugmaker GlaxoSmithKline of the widespread bribery of Chinese officials and doctors.

Corporate News 21 Sep 2017 | 6:34 AM

What is at stake for Uber in US bribery probe?

SAN FRANCISCO: A US bribery investigation at ride-hailing company Uber Technologies Inc will likely go on for a year or more and could lead to snowballing legal and compliance costs if lawyers find systemic problems.

Economy 28 Aug 2017 | 3:15 AM

Bribery remains endemic in India after cash ban

MUMBAI: Nearly 10 months after India’s unprecedented ban on high value notes that was designed to tackle entrenched corruption, bribery continues to oil the wheels of business in Asia’s third-largest economy, according to a US risk management firm that advises foreign investors.

Corporate News 25 Aug 2017 | 7:20 AM

Samsung leader Jay Y. Lee given 5-year jail sentence for bribery

SEOUL: The billionaire head of South Korea’s Samsung Group, Jay Y. Lee, was jailed for five years for bribery on Friday after a six-month trial over a scandal that brought down the president.