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News & Updates

August 25, 2011 Google forfeits $500 million for running illegal pharmacy ads

Source: TG Daily

Google's agreed to pay out $500 million to settle claims that it profited from ads for illegal Canadian pharmacies. It's one of the biggest financial forfeiture penalties ever.

August 23, 2011 Class muddles India's anti-graft push

Source: Asia Times

Among the flaws of the social activist Anna Hazare's anti-corruption movement challenging India's central government, one that stands out is that this is merely an urban middle class phenomenon.

August 18, 2011 Crisis? What Crisis? : Finding the New Normal

Source: Sustainable Business Forum

In the latest edition of ‘Business Ethics’ we referred to the events of 2008 (Lehman, AIG, RBS etc.) as the ‘financial crisis of the late 2000s’. Well, at the time we did not expect this to be useful for the reasons it now makes...

August 18, 2011 U.S. Inquiry Eyes S.&P. Ratings of Mortgages

Source: NY Times

The Justice Department is investigating whether the nation’s largest credit ratings agency, Standard & Poor’s, improperly rated dozens of mortgage securities in the years leading up to the financial crisis, according to two...

August 17, 2011 New Book, "Accounting Ethics... and the Near Collapse of the World's Financial System," Provides Deep and Timely Insight into Business Ethics and the Financial Crisis

Source: PR Web

This new book manifests the importance of accounting ethics by looking at the role that some ethical failures played in recent scandals, particularly AIG’s role in bringing the world’s financial system to the brink of collapse....

August 17, 2011 Murdoch's tabloid sanctioned phone hacking, documents suggest

Source: LA Times

Rupert Murdoch's media empire suffered a potentially heavy blow in the British phone-hacking scandal Tuesday when Parliament released documents suggesting that reporters and top editors at the News of the World practiced and...

August 16, 2011 Starbucks' CEO: Halt the political donations

Source: MSNBC

LOS ANGELES — Starbucks Corp Chief Executive Howard Schultz is winning support for his call to withhold political contributions from U.S. lawmakers until they strike a "fair, bipartisan" deal on the country's debt, revenue and...

August 15, 2011 Business ethics and anti-corruption update from Norton Rose: August 2011

Source: Trust Law

Chinese authorities have begun an industry-wide investigation of the country's telecom operators China Mobile Ltd., China Unicom (Hong Kong) Ltd. and China Telecom Corp. The nature of the allegations is unclear but it is reported...

August 12, 2011 Abu Dhabi Wealth Fund Sued by Madoff Trustee in Bid to Recoup $300 Million

Source: Bloomberg

The liquidator for Bernard L. Madoff’s firm sued the Abu Dhabi Investment Authority, seeking to recover $300 million for victims of the confidence man’s Ponzi scheme. Irving Picard, the Madoff firm’s trustee, said the sovereign...

August 12, 2011 SEC Probes S&P's U.S. Debt Downgrade: Report

Source: The Street

WASHINGTON (TheStreet) -- The Securities and Exchange Commission has asked Standard & Poor's to disclose who at the ratings agency knew of its decision to downgrade U.S. debt before it was announced last Friday, The Financial...

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