Brazilian investigators said on Wednesday that “top executives” of trading giants Vitol, Trafigura and Glencore had full knowledge that their employees paid millions in bribes to executives of state-controlled oil company Petroleo Brasileiro SA in return for business.
Thumbing through a thick binder detailing European mid-sized and family-owned firms, JP Morgan’s Doug Petno has his sights set on a business Europe’s banks have kept to themselves.
Brazil prosecutors alleged on Wednesday that trading giants Vitol, Trafigura and Glencore paid over $30 million in bribes to employees at state-owned oil company Petroleo Brasileiro SA in return for business.
Global stocks tumbled to one-week lows on Wednesday, as declines by long-dated U.S. bond yields and a renewal of trade concerns stoked fears of a downturn in the United States, the world’s largest economy.
Thomas Cook’s shares climbed 45 percent on hopes that it would not need to issue new equity, although its bond prices extended their losses to record lows on Wednesday, amid deepening worries about the UK travel group’s debt.
Germany’s Bayer , which acquired seed company Monsanto this year, reduced its combined sales estimate for its most promising experimental drugs, acknowledging it needs to do more to replenish the development pipeline.
The Alfried Krupp von Bohlen and Halbach Foundation, Thyssenkrupp’s top shareholder, has appointed former Volkswagen Chief Executive Bernd Pischetsrieder as a member of its board of trustees, it said on Wednesday.
Brazil prosecutors alleged on Wednesday that employees at state-owned oil company Petroleo Brasileiro SA received bribes from trading giants Vitol, Trafigura and Glencore in return for business.
Danske Bank’s top investors are looking to Denmark’s Maersk family to steer the country’s largest lender through the turmoil of a 200 billion euro ($227 billion) money laundering scandal.
Britain’s BT Group said on Wednesday it was removing Huawei Technologies’ equipment from the core of its existing 3G and 4G mobile operations and would not use the Chinese company in central parts of the next network.
Hyundai Motor’s talks to build a low-cost carmaking factory with a local government suffered a setback on Wednesday as the South Korean automaker rejected proposed revisions to certain terms related to wage negotiations.
Talks between German auto bosses and U.S. President Donald Trump in Washington focused on the companies’ plans for the United States and were not about trade issues, German car association VDA said on Wednesday.
Discussions between German car executives and President Donald Trump in Washington on Tuesday should be seen as separate from the trade talks between the European Union and the United States, a German government spokeswoman said on Wednesday.
Oil fell on Wednesday as a swelling supply glut and signs of an economic slowdown weighed on crude prices a day ahead of an OPEC meeting at which the producer club is expected to decide supply cuts.
Iran will not discuss its OPEC quota as long as it is under sanctions, Iranian Oil Minister Bijan Zanganeh was quoted by the state news agency IRNA as saying on Wednesday.
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