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Citing "environmental disruption and corruption" in a letter to the government of Kenya, Japan's Foreign Minister Makiko Tanaka indicated that suspension of funding for the Sondu Miriu hydropower dam project was ''a response to criticism from environmental campaigners and differences between Kenya and Japan over further funding.''
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.
I cast the vote that dare not speak its name: so shoot me, I voted Nader. But my shame is not in electing George W. I'm more nagged by an unflattering parallel between Nader's campaign and the 1988 run for President by that Bible-banging, sticky-fingered televangelist Pat Robertson.
The newly elected president of the European Commission and his cabinet - who together form the central executive body for the 28 member states of the European Union - have deep ties with powerful corporate interests that make them poor choices to support citizen rights, say critics.
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.
The Internal Revenue Service is demanding that hedge-fund and private-equity investors disclose hundreds of billions of dollars they have invested offshore, boosting scrutiny of accounts popular for tax advantages.
As the Federal Reserve and
Treasury Department careen from one financial meltdown to another,
desperately trying to hold together the financial system -- and with
it, the U.S. and global economy -- there are few voices denying that
Wall Street has suffered from "excesses" over the past several years.
Multinational industries like tobacco and alcohol have responded to increased global public pressure for accountability around corporate operations by creating Voluntary Codes of Conduct to self-regulate their behavior. But how are the results measuring up?
In the last two years, Robert K. Steel has been co-chairman of one commission that claimed heavy-handed regulation was stanching financial innovation and another that argued that hedge funds could police themselves.
It all comes down to Florida. Despite winning the popular vote by an estimated 220,000 votes, Democratic candidate Vice President Al Gore may yet lose the presidential election, based on a handful of absentee ballots in Florida and the turnout of Green Party voters.
In a major shift of policy, the Justice Department, once known for taking down giant corporations, including the accounting firm Arthur Andersen, has put off prosecuting more than 50 companies suspected of wrongdoing over the last three years.
The Supreme Court yesterday strictly limited the ability of investors who lost money through corporate fraud to sue other businesses that may have helped facilitate the crime, a decision that could doom stockholder efforts to recover billions of dollars lost in Enron and other high-profile cases.
The former chief executive of UnitedHealth Group agrees to settle claims related to back-dated stock options.