U.K. Proposes New Laws to Criminalize Energy-Market Rigging
The U.K. plans to make rigging of energy markets a criminal offense, imposing penalties of up to two years in prison for price manipulation, according to proposals by Energy and Climate Change Secretary Ed Davey. Fixing wholesale gas and electricity prices or using insider information to buy or sell energy products would become a crime under the proposed laws, the Department of Energy and Climate Change said in an e-mailed statement.
F1 boss Bernie Ecclestone to pay £60m to end German bribery trial
The Formula One boss, Bernie Ecclestone, is to make a $100m (£60m) payment to end his trial on bribery charges, a district court in Munich has confirmed. Ecclestone, 83, went on trial in Munich in April over allegations that he bribed a former German banker as part of the sale of a major stake in the motorsport business eight years ago.
Former Anglo Irish Bank directors face fraud charges
Two directors of the former Anglo Irish Bank are to stand trial for alleged fraud over an 8m Euros (£6.4m) loan arranged for one of them. The former bankers are charged with arranging a loan for Mr McAteer, a director, secured against shares he held in Anglo.
GlaxoSmithKline faces fresh drug bribery claims in Syria
GlaxoSmithKline faces new allegations that it bribed Syrian doctors and officials to boost sales of its medicines, following recent accusations of corruption in its non-prescription business in the country. The latest charges are laid out in an anonymous email sent to the company's top managers last week and seen by Reuters.