A recent exposé on fast-fashion retailer H&M alleges that the company’s environmental promise is undermined by greenwashing.
H&M was using a scorecard system to inform customers about the environmental soundness of each product, but a report by Quartz claims that more than half of the scorecards portrayed products as being better for the environment than they actually were.
Companies around the world buy carbon credits to cancel out their carbon releases with projects that promise to absorb carbon dioxide out of the air, or prevent pollution that would’ve happened. But they’ve been under the spotlight in recent months with claims their benefits are exaggerated.
Delta Air Lines (DAL.N) has asked a federal judge to toss a proposed class action lawsuit accusing the U.S. carrier of misleading consumers by touting itself as carbon-neutral.
In a motion to dismiss filed on Friday in a Los Angeles federal court, the company said the complaint filed on behalf California residents who say they were duped by Delta’s advertising is preempted by federal law.
A former Mozambique finance minister pleaded not guilty on Thursday to U.S. criminal charges over his alleged involvement in a fraud involving $2 billion in loans to three state-owned companies. Manuel Chang entered his plea before U.S. District Judge Nicholas Garaufis in Brooklyn. Chang had been extradited on Wednesday from South Africa, where he was arrested in December 2018 on U.S. charges of conspiring to commit wire fraud, securities fraud and money laundering.
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U.S. genetic testing company Illumina (ILMN.O) was fined a record 432-million-euro ($476 million) by the EU on Wednesday for closing its takeover of cancer test maker Grail (GRAL.O) before securing EU antitrust approval. Illumina has been fighting the EU competition watchdog on several fronts since it was forced to seek its approval in 2021 despite the deal falling short of the EU turnover threshold for scrutiny.
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Elizabeth Holmes founded her company Theranos at the age of 19 and it set out to revolutionise laboratories through blood tests that could be performed rapidly while using very small amounts of blood. A year later, Holmes had dropped out of her studies at California’s elite Stanford University so she could focus entirely on Theranos. By age 31 she was a celebrated young entrepreneur in male-dominated Silicon Valley. By then she was worth $9 billion – the youngest self-made billionaire in the United States.
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A contract staff of one of the major banks [name withheld] in Ghana has been arrested by the security agencies for allegedly stealing close to GH¢1.2million from customers' bank accounts. He used two months to move the said amount from the various customers' bank accounts in a branch of the bank located at Osu in Accra.
Millions of people in Louisiana and Oregon have had their data compromised in the sprawling cyberattack that has also hit the US federal government, state agencies said late Thursday.
Several US federal government agencies have been hit in a global cyberattack by Russian cybercriminals that exploits a vulnerability in widely used software, according to a top US cybersecurity agency.
The US Cybersecurity and Infrastructure Security Agency “is providing support to several federal agencies that have experienced intrusions affecting their MOVEit applications,” Eric Goldstein, the agency’s executive assistant director for cybersecurity, said in a statement on Thursday to CNN, referring to the software impacted. “We are working urgently to understand impacts and ensure timely remediation.”
U.S. federal prosecutors will have greater leeway to decline to prosecute companies that self-report criminal matters and cooperate with government investigations, the Justice Department said on Tuesday.
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It was touted as the future of finance. Today, the world of cryptocurrencies is in disarray. The fallout from the catastrophic collapse of crypto exchange FTX is spreading, and a so-called "crypto winter," which has dragged on for months, shows no signs of letting up. The value of bitcoin is down almost 70% from its all-time high hit on November 2021.
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Dec 19 (Reuters) - U.S.-based manufacturer Honeywell International Inc (HON.O) on Monday said it has agreed to pay about $200 million to settle criminal and civil corruption investigations in the United States and Brazil.
LONDON, June 23 (Reuters) - Britain's Financial Conduct Authority (FCA) has fined Ghana International Bank (GHIB) 5.8 million pounds ($7.1 million) for failings in its anti-money laundering controls.
The FCA said the bank provided correspondent banking services to other lenders, allowing them to provide products and payment services they would otherwise be unable to provide.
The Anglo-Swiss company Glencore admits that it paid bribes in six African countries. Will we ever know the identity of those responsible? A look back at a resounding affair with still-present grey areas, which has tarnished the mining industry, particularly on the continent.
Dec 23 (Reuters) - French jet engine maker Safran SA (SAF.PA) will pay about $17.2 million as part of a settlement with the U.S. Justice Department over bribes its subsidiaries allegedly paid in China, the Department of Justice (DoJ) said in a statement made public on Friday.
The Paris-based aerospace supplier will be required to turn over profits from "corruptly obtained" and retained contracts by its U.S.-based subsidiary, Monogram Systems, the DoJ said.