‘The largest foreign bribery case in history’

The US Department of Justice called it “the largest foreign bribery case in history”. After Brazilian multinational Odebrecht admitted guilt in a cash-for-contracts corruption scandal in 12 nations, it vowed to change its ways. But Brazil’s authorities are still wrestling with an encrypted computer system used to run the firm’s illicit payment system. The federal […]

China sexist adverts: Tech firms apologise after damning report

Leading Chinese tech firms have pledged to address gender discrimination in job ads after a damning report by campaign group Human Rights Watch (HRW). Sexist recruitment practices had contributed to a decrease in the proportion of women working, HRW said. Tech giants and government agencies had published “male only” adverts, as well as others asking […]

Google owner Alphabet sees profits soar

Profits at Google-owner Alphabet jumped almost 73% in the first three months of the year, as revenues from internet advertising soared. The strong results came despite fears that rising costs and regulation could undermine the search giant’s performance. First-quarter net income rose to $9.4bn (£6.7bn) from $5.4bn a year earlier, beating analyst expectations. Revenue jumped […]

Vincent Bolloré: French tycoon held over ‘Africa corruption’

French billionaire Vincent Bolloré has been detained for questioning by anti-corruption police near Paris. Officers in Nanterre are asking him about suspected corruption in Africa, reports say. It comes days after he stepped down as chairman of the media group Vivendi. His holding company the Bolloré Group has denied any irregularities. It is alleged that […]

End doubts over diesel’s future, says Ford boss

Uncertainty about the future of diesel is threatening the UK car industry and leaving drivers in limbo, according to Ford’s UK boss. Andy Barratt said consumers were buying fewer diesel cars, fearing they were polluting and will face new taxes. However, he claimed new diesels were “every bit as clean” as petrol cars. Government and […]

Streaming is music’s biggest money-maker

Streaming services like Spotify and Apple Music have become the biggest contributor to the music industry’s coffers for the first time ever. In total, streaming generated $7.1bn (£5bn) in 2017, more than sales of CDs and vinyl. The number of people subscribing to a streaming service topped 176 million, up from 112 million a year […]

Oil hits $75 as Iran sanction fears mount

Oil prices hit $75 on Tuesday, the highest level in nearly three and a half years, as fears mounted over the prospect of new US sanctions on Iran. Brent crude jumped for the sixth day, trading as high as $75.47 before later falling back under the $75 mark. The US will decide by 12 May whether […]

Gucci sales surge following major revamp

Surging demand for Gucci clothes and handbags boosted sales at parent company Kering in the first three months of the year. It follows a major revamp at Gucci – Kering’s biggest brand – under creative director Alessandro Michele. Kering, which owns other marques like Yves Saint Laurent (YSL), also benefited from a recovery in spending […]

Shire recommends Takeda’s revised £46bn takeover offer

Pharmaceutical giant Shire will recommend a revised £46bn ($64bn) takeover offer by Japan’s Takeda Pharmaceutical to its shareholders. The development marks a breakthrough in the takeover talks which included five offers by Takeda since late March. The sweetened cash and stock offer would provide $30.33 in cash for each Shire ordinary share. If approved by investors, […]