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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.

Jesse Loughborough.

Financial Services, Insurance and Banking

Credit Suisse Condemned For Secret Military Loans To Mozambique
Richard Smallteacher
May 9th, 2016

Activists have condemned Credit Suisse and VTB of Russia for lending $850 million to Mozambique in 2013 that was used mostly to buy military equipment, despite telling the public that the money would be used to buy fishing boats.
Interceptor boat bought by Mozambique. Photo: CMN.


DESA Employees Arrested In Honduras For Murder Of Activist Berta Cáceres
Pratap Chatterjee
May 2nd, 2016

Two employees of Desarrollos Energéticos SA (DESA) have been arrested and charged with the murder of Berta Cáceres, an activist who was fighting the Agua Zarca dam on the territory of the indigenous Lenca people in Honduras. DESA was awarded a permit to build the 22 megawatt dam in 2011.
The daughter of Berta Cáceres speaking at a rally. Photo: Daniel Cima. Used under Creative Commons license


Zupta Scandal Causes South African Government To Intervene To Save Indian Investor
Richard Smallteacher
April 29th, 2016

The South African government has intervened to support the Indian-born Gupta brothers, owners of a sprawling conglomerate with interests from mining to media, following a scandal that suggested that the brothers had accumulated so much power that they could dictate cabinet-level decisions in the country.
President Zuma and Ajay Gupta. Photo: GovernmentZA. Used under Creative Commons license.

Natural Resources

Malaysian Palm Oil Giant, IOI, Suspended By Industry Body Over Environmental Record
Pratap Chatterjee
April 11th, 2016

IOI, the second largest producer of palm oil in Malaysia, has been kicked out of an industry group that certifies sustainability practices, for environmental and labor violations. As a result, dozens of companies, including the makers of Dove soap, M&M's and Kellogg's Corn Flakes, have stopped buying from IOI.
Palm oil harvest in Sarawak. PhotoL Wakx. Used under Creative Commons license

Financial Services, Insurance and Banking

Barclays Trial Over Interest Rate Rigging Raises Questions Over Supervision
Richard Smallteacher
April 8th, 2016

Did a few individual traders in London conspire to rig global interest rates in order to enrich themselves or were they just pawns in an ongoing conspiracy by major banks designed to routinely skim billions from the international financial system?


World Bank Orders Venezuela To Pay Crystallex $1.4 Billion For Gold Mine
Pratap Chatterjee
April 6th, 2016

The World Bank's International Centre for Settlement of Investment Disputes (ICSID) has ordered the government of Venezuela to pay US$1.386 billion to Crystallex, a bankrupt Canadian gold mining company, for canceling a 2002 permit to mine for gold in the Imataca Forest Reserve
Aerial view of gold mining at Imataca. Photo:


Ovarian Cancer Victims Win Talcum Powder Lawsuits Against Johnson & Johnson
Richard Smallteacher
April 4th, 2016

Johnson & Johnson has been sued by over 1,200 women who blame the company's talcum powder products for their ovarian cancer. Not only are U.S. courts beginning to agree with them, juries have started to award victims millions of dollars in compensation.
Photo: Rakka. Used under Creative Commons license


Global Oil Companies Allegedly Used Monaco Lobbyist To Pay Bribes For Deals
Pratap Chatterjee
April 1st, 2016

Unaoil, a lobbying firm based in Monaco, is being investigated by authorities in Australia, the U.K. and the U.S. for allegedly helping companies around the world pay bribes for oil concessions and contracts. Among the companies under scrutiny is Texas-based Kellogg Brown & Root, former subsidiary of Halliburton.
Kashagan oil complex. Photo: Used under Creative Commons license