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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.
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.
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.
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'.
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.
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.
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.
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.
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.
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.
