Two years ago, rioters protesting increased water rates forced a Bechtel, U.S. company, in Bolivia to pack its bags and leave. Now, in a harbinger of the loss of local control through globalization, the corporation is striking back in secret proceedings.
In a Securities and Exchange Commission filing, Morgan Stanley said it had fired an executive in its China real estate division after uncovering evidence that he might have violated the United States Foreign Corrupt Practices Act, which bars American business people from bribing foreign officials.
The drop in U.S. demand for high-end jewelry in a slumping economy is having ripple effects around the globe as stores close, workers are laid off in mass in the diamond-polishing factories of Gujarat, and countries like Botswana experience a dramatic drop in diamond revenue.
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.
The environment group Greenpeace launched a campaign against McDonald's, accusing the US restaurant chain of abetting the destruction of the Brazilian rainforest by buying meat raised from Amazonian soya.
Corporate social responsibility, once a do-gooding sideshow, is now seen as mainstream. But as yet too few companies are doing it well, says Daniel Franklin (interviewed here)
OLEY, PA -- Who really rules the world now? Is it governments or a handful of huge, multinational companies? The wealth of American car giant Ford is worth more than the economy of South Africa. A handful of hugely rich men, like Bill Gates, have a wealth greater than most of Africa. Is there now an alliance between the superpowers of wealth, politics and military might? THE NEW RULERS OF THE WORLD -- A Special Report by John Pilger takes the viewer behind the hype of the new 'global' economy, where the divisions between rich and poor have never been greater.
Late last month Blackwater Worldwide lost its billion-dollar contract to protect American diplomats in Iraq, but by next month many of its private security guards will be back on the job here. The same individuals will just be wearing new uniforms, working for Triple Canopy, the firm that won the State Department's new contract.