Law & Regulation
Three top executives at Anglo Irish bank are on trial for a secret scheme to buy their own bank's shares that eventually triggered the 2008 collapse of the Irish economy. The bankers allegedly hatched the plan to cover up bets made by Sean Quinn, once Ireland's richest man.
The U.S. Congress saw no progresses toward corporate accountability and reining in corporate influence over public institutions in 2013, according to the newly released Corporate Accountability Coalition (CAC) Congressional Report Card.
Canada, faced with growing political pressure over the extraction of oil from its highly polluting tar sands, has begun courting China and other Asian countries to exploit the resource. The move comes as US firms are turning away from tar sands because of its heavy carbon footprint and damage to the landscape.
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.
U.S. Agriculture Secretary Tom Vilsack issued a temporary order yesterday governing development in "roadless" areas of national forests, requiring all new projects to be approved by him personally. A USDA official said it is unclear whether projects with a strictly commercial aim, such as logging or mining, will be allowed.
Business and trade-group lobbyists are beating a path for the first major battle over the Obama administration's efforts to overhaul the financial regulatory system. Recent discussions have involved the American Bankers Association, National Auto Dealers Association, U.S. Chamber of Commerce, Mortgage Bankers Association and other lobbyists.
Toyota is expected to announce a billion dollar settlement with the U.S. government for failing to disclose complaints by drivers that its cars were accelerating unintentionally. News of the negotiations were reported by the Wall Street Journal.