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Greece Raids UBS Executive's Home In Effort To Uncover Swiss Tax Evasion
by Richard SmallteacherSpecial to CorpWatch
July 18th, 2016
Greek tax investigators have raided the house of Christos Sclavounis, the former head of investment banking for UBS. The crackdown is part of an agreement that the country reached with international lenders in order to reduce tax evasion by Greek elites suspected of hiding their income in Switzerland.

Cairn Energy Demands India Pay $5.6 Billion Or Drop Back Tax Claim
by Pratap ChatterjeeSpecial to CorpWatch
July 15th, 2016
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.

Gilead Avoided $10 Billion In Taxes On Over Priced Hepatitis C Drugs
by Richard SmallteacherSpecial to CorpWatch
July 13th, 2016
Gilead Sciences Inc., a California based pharmaceutical company, has avoided paying $10 billion in taxes by moving its patents to Ireland. This is despite the fact that one of its most profitable drugs was developed with U.S. taxpayer money, according to a new report from Americans for Tax Fairness.

Uruguay Defeats Philip Morris In Major Win For Anti-Smoking Advocates
by Pratap ChatterjeeSpecial to CorpWatch
July 11th, 2016
Uruguay has defeated Philip Morris, the global tobacco giant, in a major international lawsuit over the country's tough anti-smoking regulations. The Swiss-based company sued Uruguay at the World Bank’s International Center for Settlement of Investment Dispute under the terms of a 1991 bilateral investment treaty between Uruguay and Switzerland.

Ugandan Villagers Say Chinese Phosphate Mine Cheated Them Over Land Titles
by Richard SmallteacherSpecial to CorpWatch
July 8th, 2016
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.

Barclays Traders Jailed In Global Interest Rate Setting Scandal But Not Executives
by Pratap ChatterjeeSpecial to CorpWatch
July 6th, 2016
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.

Formosa Plastics Admits Vietnam Steel Plant Caused Massive Fish Kill
by Richard SmallteacherSpecial to CorpWatch
July 4th, 2016
Vietnam has asked Formosa Ha Tinh Steel Corporation to pay $500 million in compensation for dumping toxic waste in Ky Anh that resulted in a massive fish kill on a 120 mile stretch of Vietnam's central coast in the provinces of Ha Tinh, Hue, Quang Binh and Quang Tri.

New Violation Tracker Tool Helps Public Track U.S. Corporate Misconduct
by Pratap ChatterjeeSpecial to CorpWatch
June 29th, 2016
Bank of America leads the list of companies that have paid over $1 billion in penalties and fines to the U.S. government in the last six years. Violation Tracker, a new corporate misconduct database maintained by Good Jobs First, estimates that the North Carolina bank has paid $56 billion.

East European Shoe Factories Often Pay Below Minimum Wage, Says New Report
by Richard SmallteacherSpecial to CorpWatch
June 22nd, 2016
Shoes labeled "Made in Europe" are often assembled in poor East European countries for 'starvation wages' according to a new research report from the Change Your Shoes campaign. The companies whose labor practices were examined include Ara, Bata, Deichmann, Geox, Leder & Schuh AG, Lowa and Zara.

Citadel's Private Stock Market Platform Under Investigation
by Pratap ChatterjeeSpecial to CorpWatch
May 12th, 2016
The U.S. government is investigating Citadel, a Chicago-based hedge firm and market maker that manages some $25 billion in client money, for allegedly giving smaller investors a bad deal. The Department of Justice wants to know if the firm is taking advantage of the complexity of high-speed trading.

Credit Suisse Condemned For Secret Military Loans To Mozambique
by Richard SmallteacherSpecial to CorpWatch
May 9th, 2016
Activists have condemned Credit Suisse and VTB of Russia for lending $850 million to Mozambique in 2013 that was used mostly to buy military equipment, despite telling the public that the money would be used to buy fishing boats.

DESA Employees Arrested In Honduras For Murder Of Activist Berta Cáceres
by Pratap ChatterjeeSpecial To CorpWatch
May 2nd, 2016
Two employees of Desarrollos Energéticos SA (DESA) have been arrested and charged with the murder of Berta Cáceres, an activist who was fighting the Agua Zarca dam on the territory of the indigenous Lenca people in Honduras. DESA was awarded a permit to build the 22 megawatt dam in 2011.

Zupta Scandal Causes South African Government To Intervene To Save Indian Investor
by Richard SmallteacherSpecial to CorpWatch
April 29th, 2016
The South African government has intervened to support the Indian-born Gupta brothers, owners of a sprawling conglomerate with interests from mining to media, following a scandal that suggested that the brothers had accumulated so much power that they could dictate cabinet-level decisions in the country.

Malaysian Palm Oil Giant, IOI, Suspended By Industry Body Over Environmental Record
by Pratap ChatterjeeCorpWatch Blog
April 11th, 2016
IOI, the second largest producer of palm oil in Malaysia, has been kicked out of an industry group that certifies sustainability practices, for environmental and labor violations. As a result, dozens of companies, including the makers of Dove soap, M&M's and Kellogg's Corn Flakes, have stopped buying from IOI.

Barclays Trial Over Interest Rate Rigging Raises Questions Over Supervision
by Richard SmallteacherCorpWatch Blog
April 8th, 2016
Did a few individual traders in London conspire to rig global interest rates in order to enrich themselves or were they just pawns in an ongoing conspiracy by major banks designed to routinely skim billions from the international financial system?

World Bank Orders Venezuela To Pay Crystallex $1.4 Billion For Gold Mine
by Pratap ChatterjeeCorpWatch Blog
April 6th, 2016
The World Bank's International Centre for Settlement of Investment Disputes (ICSID) has ordered the government of Venezuela to pay US$1.386 billion to Crystallex, a bankrupt Canadian gold mining company, for canceling a 2002 permit to mine for gold in the Imataca Forest Reserve

Ovarian Cancer Victims Win Talcum Powder Lawsuits Against Johnson & Johnson
by Richard SmallteacherCorpWatch Blog
April 4th, 2016
Johnson & Johnson has been sued by over 1,200 women who blame the company's talcum powder products for their ovarian cancer. Not only are U.S. courts beginning to agree with them, juries have started to award victims millions of dollars in compensation.

Global Oil Companies Allegedly Used Monaco Lobbyist To Pay Bribes For Deals
by Pratap ChatterjeeCorpWatch Blog
April 1st, 2016
Unaoil, a lobbying firm based in Monaco, is being investigated by authorities in Australia, the U.K. and the U.S. for allegedly helping companies around the world pay bribes for oil concessions and contracts. Among the companies under scrutiny is Texas-based Kellogg Brown & Root, former subsidiary of Halliburton.

Garment Factories In Burma Often Violate Labor Laws
by Richard SmallteacherCorpWatch Blog
March 28th, 2016
A new report on garment factories in Burma issued by Action Labor Rights (ALR) estimates that nearly a third of workers were required to work 60 hours or more a week, with almost two thirds reporting that they had no choice in the matter.

Navajo Diné Fight Uranium Resources Inc. Mining Permits In New Mexico
by Pratap ChatterjeeCorpWatch Blog
March 25th, 2016
The Navajo Diné community have notched up a victory over Uranium Resources Inc. decades old plan to dig for uranium at Crownpoint and Churchrock, New Mexico, by successfully appealing a state permit for the Colorado company to dump waste into the Westwater Canyon aquifer.

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