Law & Regulation
European Union governments delivered a blow Monday to the biotechnology industry, allowing Austria and Hungary to maintain national bans on growing genetically modified crops from Monsanto. The market for genetically engineered crops is worth several billion dollars worldwide.
Now come the second thoughts on globalization, as never before have world markets been so integrated. The current financial crisis could mark the start of an effort to overhaul the global financial system conceived at the 1944 summit in Bretton Woods, N.H., which set the rules of international commerce for industrial countries.
Executives from three major Spanish construction companies are in the limelight for allegedly contributing to a slush fund for the Partido Popular, the Spanish ruling party: Fomento de Construcciones y Contratas from Barcelona, ObrascÃ³n Huarte Lain and Sacyr Vallehermoso from Madrid. The scandal has rocked the conservative government of Mariano Rajoy.
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.
The FCC's two Democratic members harshly criticized the Justice Department for approving the $78 billion AT&T- BellSouth merger without conditions.
The U.S. futures industry regulator said Wednesday that a U.S. unit of BP Plc. tried to manipulate U.S. propane prices by cornering the market in February 2004.
In the wake of the multiple scandals over tainted Chinese food and drug exports in recent months, Chinese goods now have an indelible image of being not just cheap, but life-threatening as well. But the fact that wrongly labelled foods, liquor and pharmaceuticals have routinely sickened and even killed people en masse in China has been largely overlooked.
A record $450 million fine for fixing rates at which banks lend to each other has been levied on Barclays bank in the UK, shining a light into how banks set - and manipulate - rates at which $360 trillion in international deposits are loaned out every day.
Shareholders have demanded that the CEO of Soco International be fired after handwritten receipts for $42,250 in alleged bribes to Congolese army officials were published by Global Witness. At the time, the UK company was exploring for oil in Virunga, a United Nations World Heritage site in eastern Congo.