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Global Investing Roundups
Report: Russia, China Biggest Bribers; Coffee Prices Continue Falling; October Existing Home Sales Slump; China Wants More Help From BHP; Yahoo Closing in on New CEO; FedEx Lowers Guidance 26%; Lehman Selling French Unit for $1; NFL to Cut 150 Jobs
- Companies from Russia and China are most likely to use bribes when conducting business abroad, says a report from Berlin-based corruption watchdog Transparency International (TI), Reuters reported. The least likely to bribe were Belgium and Canada, according to group’s 2008 Bribe Payers Index.
- Four days after rival J.M. Smucker Co. (SJM) cut its list price for Folgers coffee products, Kraft Foods…
Iron Ore Proves to be the Most Coveted Commodity in the Pacific
There has been little said about BHP Billiton Ltd.’s (BHP) attempted takeover of Rio Tinto PLC (RTP) in recent months, but the proposal is far from dead. In fact, rumors that BHP may increase its bid have brought about even more speculation that China’s largest steelmakers will further enter the fray.
Rio Tinto Group, the world’s third-largest mining company, rose in London trading yesterday (Tuesday) on speculation BHP Billiton Ltd. will increase its $179 billion hostile bid for the company.
“The rumor doing the rounds is that BHP will increase its bid to 3.8 shares for each Rio share,” Manoj Ladwa,…
14May2008 | Money Morning | Comments Off | ContinuedCommodities Trading: Aluminum’s Alcoa bribes (maybe) and buys
Despite record-breaking commodities prices, aluminum giant Alcoa (AA: NYSE) is not having the best of times right now.
The U.S. Justice Department just asked a judge in Pittsburgh to hold off on a lawsuit against the company.
The government of Bahrain is suing Alcoa for what it says was a 15-year pattern of bribing government officials and overcharging to Aluminum Bahrain BSC, a long-time Alcoa customer.
But don’t get too excited. The DOJ is asking the civil court to take a break while it investigates a possible criminal case against Alcoa. Ouch.
The news hasn’t had too bad an effect on the company’s stock, but…
24Mar2008 | Stephanie Grimmett | Comments Off | Continued
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