Financial Services, Insurance and Banking

Bank of America to Pay $16.65 Billion to Settle Mortgage Fraud Charges
Pratap Chatterjee
August 21st, 2014

Bank of America has agreed to pay the government $9.65 billion to settle charges of misleading investors over mortgage lending in the run up to the 2008 financial crisis. The bank will also pay out an additional $7 billion to help borrowers and communities affected by the loans.

Bank of America protest. Photo: Rainforest Action Network. Used under Creative Commons license.


Gilead Sciences Under Investigation for Over-Charging for Hepatitis C Pill
Pratap Chatterjee
July 21st, 2014

Gilead Sciences of San Francisco is under investigation by the U.S. Senate Finance Committee for charging $84,000 for a 12 week course of a new drug to treat hepatitis C. Gilead sells the exact same course for $900 in poor countries like Egypt and India.

Natural Resources

Coca-Cola Forced To Shut Bottling Plant in India
Fatima Hansia
July 10th, 2014

Coca-Cola, the world’s largest beverage producer, has been ordered to shut down its bottling plant in Varanasi, India following local complaints that the company was drawing excessive amounts of groundwater. After an investigation, government authorities ruled that the company had violated its operating license.

A protest outside India's Coca-Cola headquarters. Photo: Kasuga Sho. Used under Creative Commons license.
War & Disaster Profiteering

Hacking Team Malware Targeted Saudi Arabia Protestors
Pratap Chatterjee
June 27th, 2014

Malicious software from Hacking Team of Italy that can be used to spy on cell phones has been found by Citizen Lab activists to have been used to target people in Saudi Arabia. The software was bundled into a fake phone application for Qatif Today, a local news site.

Ad for Qatif Today in the Google Play app store.

Soco International Says It Will Cancel Oil Exploration in Congo's Virunga Park
Fatima Hansia
June 23rd, 2014

Soco International PLC, a UK oil company, has claimed that it will halt oil exploration in Virunga National Park in the Democratic Republic of the Congo (DRC), following complaints by local communities and the World Wide Fund for Nature (WWF) about the potential environmental impact.

Virunga National Park, Democratic Republic of the Congo. Photo: David Lloyd. Used under Creative Commons license.
Financial Services, Insurance and Banking

Argentina Loses Court Appeal Against “Vulture” Fund Manager Paul Singer
Pratap Chatterjee
June 20th, 2014

Paul Singer, the billionaire hedge fund manager, has claimed victory in a lawsuit to force Argentina to fork out almost 17 times more than he paid to buy bonds issued by the country.

Protest outside Elliott Capital Management offices in New York. Photo: Jubilee Debt Campaign. Used under Creative Commons license.

Papua New Guinea Landowners Win Lands Back From Malaysian Palm Oil Plantation
Fatima Hansia
June 16th, 2014

A Papua New Guinea (PNG) court revoked two 99 year land titles awarded to Kuala Lumpur Kepong (KLK) of Malaysia to develop palm oil plantations on 38,350 hectares of land in Collingwood Bay in Oro province following complaints of land grabbing by customary landowners.

Collingwood Bay, Papua New Guinea. Photo: Wakx. Used under Creative Commons license.

Chevron Cancels Bulgaria Fracking, Shell Postpones Ukraine Plans
Richard Smallteacher
June 12th, 2014

Fracking for oil and gas across Europe has suffered a series of setbacks with Chevron closing its offices in Sofia, Bulgaria, and Shell postponing fracking plans in the Ukraine by at least two years. Meanwhile the French government is standing firm in its opposition to fracking.

Members of the Europoean Parliament protest fracking. Photo: greensefa. Used under Creative Commons license.
War & Disaster Profiteering

G4S To End Israel Prison Contracts Following Protests
Pratap Chatterjee
June 8th, 2014

G4S, the Anglo-Danish security contractor, has agreed to withdraw from prison work in Israel after activists disrupted the company annual general meeting for the second year in a row. The company is also under fire for ill-treatment of detainees in the UK, including the death of an Angolan man.

G4S protest in London. Photo: Palestine Solidarity Campaign. Used under Creative Commons license