Law & Regulation
Now, the next generation of Tisches has removed tobacco from the portfolio of the conglomerate they lead, the Loews Corporation, spinning off its tobacco unit, Lorillard, as a stand-alone business, with the Newport brand representing more than 90 percent of the new company's revenue. The new stock began trading Tuesday, and analysts have said the new company might be a takeover target.
Barinem Kiobel was executed on November 10, 1995 by the military dictatorship of General Sani Abacha of Nigeria. Almost 16 years later, the U.S. Supreme Court is poised to decide whether Shell, the Anglo-Dutch oil multinational, can be held responsible for his death.
Carmen Segarra, a former senior examiner with the Federal Reserve Bank of New York, has revealed how government regulators failed to adequately police Goldman Sachs, the Wall Street investment bank. (The Federal Reserve is the central banking system of the U.S. chartered by Congress to supervise private banks)
A U.S. Justice Department indictment unsealed Friday accused R. Allen Stanford of Stanford International Bank, based in the Caribbean money haven of Antigua, of operating a multibillion-dollar Ponzi scheme with the help of Antigua's top banking regulator, Leroy King.
Thomson Corp. and Reuters Group PLC's ambitious plan to create the world's largest supplier of financial data and news could face regulatory hurdles as it would narrow the market to two main competitors from three.
A federal grand jury in Honolulu has indicted six labor contractors from a Los Angeles manpower company on charges that they imposed forced labor on some 400 Thai farm workers, in what justice officials called the biggest human-trafficking case ever brought by federal authorities.
Families of 12 Nepali workers killed in Iraq in August 2004 have been denied permission by a federal judge to sue KBR, the former subsidiary of Halliburton of Houston, in an abrupt reversal of a previous court decision.
The intersection of human rights, the environment and corporate responsibility was highlighted today at a Capitol Hill hearing featuring activists from Burma and Nigeria who underlined the failure to date of "voluntary" controls over major oil companies operating in their countries.