Automaker Daimler has recalled at least 6,000 of its luxury model Mercedes-Benz A-Class vehicles and will carry out free repairs on their front passenger airbags to ensure they inflate in the case of an accident. Reportedly, the recalled vehicles were produced during the period June - December 2012, and most of the affected cars were sold in Germany. Daimler spokesperson Wolfgang Zanker reportedly declined to comment on the cost of the airbag repairs.
Facebook has released a statement Controversial, Harmful and Hateful Speech on Facebook (28 May 2013) in response to a popular campaign to address offensive or incendiary content displayed on the social media network, particularly such content targeted at women.
The United Kingdom Financial Conduct Authority (FCA) has announced that J.P. Morgan International Bank Ltd (JP) has been fined £3,076,200 for "systems and controls failings relating to its provision of retail investment advice and portfolio investment services" that "persisted for two years". The FCA stated that JP further failed to put in place "adequate risk and compliance monitoring and oversight of its business".
Yahoo announced that 22 million login names may have been exposed after a data breach at Yahoo Japan last week. According to a statement released by Yahoo Japan, “We don’t know if the file [containing 22 million user IDs] was leaked or not, but we can’t deny the possibility, given the volume of traffic between our server and external terminals.”
U.S. District Judge John W. Lungstrum rejected the request of Dow Chemical Co. (Dow) to overturn a $400 million jury verdict regarding a urethane price-fixing case from earlier this year. In fact, the judge tripled the damages under U.S. antitrust law, ordering the company to pay $1.2 billion, making it the biggest U.S. verdict so far this year. Dow challenged the verdict on several grounds.
Wal-Mart Stores Inc. (Wal-Mart) announced in its latest quarterly earnings report that it spent much more than it had forecasted on its foreign bribery probe. The company had expected to spend $40-$45 million during the first quarter of fiscal year 2014 but it actually ended up spending $73 million. According to Wal-Mart, $44 million was spent on the investigations and an additional $29 million was spent on a global compliance review and organizational changes.
Approximately one tenth of Royal Dutch Shell's (Shell) investor base has refused to endorse the company's remuneration policy, including almost 8% who voted against the policy and a further 2% who boycotted the vote.
The United States (US) Senate Homeland Security and Governmental Affairs Permanent Subcommittee on Investigations (the Subcommittee) has made available Apple Inc's (Apple) testimony, delivered in the Subcommittee's hearing Offshore Profit Shifting and the US Tax Code - Part 2 (Apple Inc.) on 21 May 2013. Through the hearing, the Subcommittee "continued its examination of the structures and methods employed by multinational corporations to shift profits offshore and how such activities are affected by the [Internal Revenue Code] and related regulations".
The United Kingdom (UK) treasury department HM Treasury has made available a statement (undated) by the UK and 16 other European Union (EU) member states on the Pilot Multilateral Automatic Information Exchange Facility, calling for "a single global Standard for automatic exchange of information" and the development of a pilot of multilateral automatic information exchange based on agreements currently being signed by a number of countries with the United States to implement the Foreign Account Tax Compliance Act.
Harris Corporation (Harris) announced in a regulatory filing that the Securities and Exchange Commission (SEC) had launched an investigation into possible violations of the Foreign Corrupt Practices Act by China-based employees of a recently acquired company. Harris announced its intention to fully cooperate with the investigation.
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