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Energy

Cairn Energy Demands India Pay $5.6 Billion Or Drop Back Tax Claim
Pratap Chatterjee
July 15th, 2016

Cairn Energy, a Scottish oil exploration company, has demanded that India pay $5.6 billion in compensation for losses that the company claims it has sustained as a result of a tax bill. The company has taken its claim to an arbitration panel under the United Kingdom-India Investment Treaty.

Photo: Inauguration of Cairn India's Mangala oil field. Public.Resource.Org. Used under Creative Commons license


Pharmaceuticals

Gilead Avoided $10 Billion In Taxes On Over Priced Hepatitis C Drugs
Richard Smallteacher
July 13th, 2016

Gilead Sciences Inc., a California based pharmaceutical company, has avoided paying $10 billion in taxes by moving its patents to Ireland. This is despite the fact that one of its most profitable drugs was developed with U.S. taxpayer money, according to a new report from Americans for Tax Fairness.
Sovaldi pills. Photo: Insomniac70. Used under Creative Commons license

Tobacco

Uruguay Defeats Philip Morris In Major Win For Anti-Smoking Advocates
Pratap Chatterjee
July 11th, 2016

Uruguay has defeated Philip Morris, the global tobacco giant, in a major international lawsuit over the country's tough anti-smoking regulations. The Swiss-based company sued Uruguay at the World Bank’s International Center for Settlement of Investment Dispute under the terms of a 1991 bilateral investment treaty between Uruguay and Switzerland.
Uruguayan tobacco packaging. Photo: Andrew Sorensen. Used under Creative Commons license.

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Ugandan Villagers Say Chinese Phosphate Mine Cheated Them Over Land Titles
Richard Smallteacher
July 8th, 2016

Villagers in Tororo district, Uganda, not far from the Kenyan border, say that Guangzhou Dongsong Energy, a company from China, has conspired with the government to cheat them out of their land titles in order to build a $600 million phosphate mine and industrial complex.
Photo: Edward Ssekika, Oil in Uganda

Financial Services, Insurance and Banking

Barclays Traders Jailed In Global Interest Rate Setting Scandal But Not Executives
Pratap Chatterjee
July 6th, 2016

The UK Serious Fraud Office has notched up another win in the global interest rate setting scandal by sending three Barclays traders to jail. Of the 20 bankers that have been charged to date, five have been found guilty, six have been let go while nine are to face trial.
Photo: http://www.insidermonkey.com

Manufacturing

Formosa Plastics Admits Vietnam Steel Plant Caused Massive Fish Kill
Richard Smallteacher
July 4th, 2016

Vietnam has asked Formosa Ha Tinh Steel Corporation to pay $500 million in compensation for dumping toxic waste in Ky Anh that resulted in a massive fish kill on a 120 mile stretch of Vietnam's central coast in the provinces of Ha Tinh, Hue, Quang Binh and Quang Tri.
Twitter photo by Dan Vineberg.

Regulation

New Violation Tracker Tool Helps Public Track U.S. Corporate Misconduct
Pratap Chatterjee
June 29th, 2016

Bank of America leads the list of companies that have paid over $1 billion in penalties and fines to the U.S. government in the last six years. Violation Tracker, a new corporate misconduct database maintained by Good Jobs First, estimates that the North Carolina bank has paid $56 billion.
Photo: Good Jobs First

Manufacturing

East European Shoe Factories Often Pay Below Minimum Wage, Says New Report
Richard Smallteacher
June 22nd, 2016

Shoes labeled "Made in Europe" are often assembled in poor East European countries for 'starvation wages' according to a new research report from the Change Your Shoes campaign. The companies whose labor practices were examined include Ara, Bata, Deichmann, Geox, Leder & Schuh AG, Lowa and Zara.
Photo: Davide del Giudice, Change Your Shoes campaign

Financial Services, Insurance and Banking

Citadel's Private Stock Market Platform Under Investigation
Pratap Chatterjee
May 12th, 2016

The U.S. government is investigating Citadel, a Chicago-based hedge firm and market maker that manages some $25 billion in client money, for allegedly giving smaller investors a bad deal. The Department of Justice wants to know if the firm is taking advantage of the complexity of high-speed trading.
Photo: Jesse Loughborough. Used under Creative Commons license.