Law & Regulation
Ranbaxy, a subsidiary of Japanese pharmaceutical company Daiichi Sankyo, has paid a $500 million fine and pled guilty to selling adulterated drugs manufactured in India. The settlement comes 16 months after the company signed an agreement with U.S. authorities to change its ways.
As the outsourcing of jobs has become a hot election year issue in the US, call centers in India continue to multiply. Local workers answer calls for US corporations at a fraction of the cost of an American worker.
CorpWatch, with support from the Sunlight Foundation, announces release of the CrocTail application and open CorpWatch API. CrocTail provides an interface for browsing information about U.S. publicly traded corporations and their many foreign and domestic subsidiaries. CrocTail also serves as a demonstration of the features and data available through the CorpWatch API.
Ten major U.S. banks settled charges of illegally kicking people out of their homes for pennies on the dollar, under two agreements with the government. The biggest beneficiary is Bank of America which will win a get-out-of-jail free card for selling fraudulent loans to the government.
The UK Serious Fraud Office has notched up another win in the global interest rate setting scandal by sending three Barclays traders to jail. Of the 20 bankers that have been charged to date, five have been found guilty, six have been let go while nine are to face trial.
Europe's second-highest court delivered a stinging rebuke to Microsoft Monday, but the impact of the decision upholding an earlier antitrust ruling may extend well beyond the world's largest software maker to other high-technology companies.
If you're a teacher, student, journalist or just a plain concerned citizen interested in finding well-researched documentation about climate change, you can no longer depend on the Canadian government to supply that information.
CrocTail is an extension of the Crocodyl.org Wiki web site project, an online compendium profiling the accountability and transparency track records of multinational corporations. Developed with support from the Sunlight Foundation, CrocTail users can search the entire subsidiaries database. In this new version, users can click on different years and see how subsidiary relationships for a company have changed over time.
Many hedge funds were relieved when the Obama administration's financial-overhaul plan included no big surprises to the lucrative, secretive industry. In 2008, major hedge funds and their trade groups spent $6.1 million lobbying Washington, up from $4.2 million in 2007 and nearly seven times the $897,000 average from 2003 to 2006.