Wal-Mart Stores Inc., the world’s largest retailer, said it spent $439 million in the past two years to investigate the possible payment of foreign bribes, making it one of the most expensive probes in U.S. history.
Jim Giffen , an oil consultant and merchant bank owner, spent the last years of the Cold War brokering business deals between the U.S. and Soviet Union while serving as a secret communication conduit between governments.
Panalpina World Transport Holding Ltd. , like Siemens AG and others before it, faced potentially crippling penalties when U.S. prosecutors began investigating the bribes it paid to government officials around the world.
Jim Giffen , an oil consultant and merchant bank owner, spent the last years of the Cold War brokering business deals between the U.S. and Soviet Union while serving as a secret communication conduit for their governments.
Wal-Mart de Mexico SAB fell the most in more than 13 years after its parent company announced an investigation into allegations that representatives in the country bribed local officials to get stores opened faster.
European stocks rose, erasing losses that followed Lehman Brothers Holdings Inc.’s 2008 bankruptcy, amid speculation that the economic recovery is strong enough to withstand the region’s sovereign-debt crisis.
U.S. stock-index futures retreated, indicating the Standard & Poor’s 500 Index will extend its weekly drop, as investors awaited reports on consumer confidence and retail sales to gauge the strength of the economic recovery.
German stocks retreated, sending the the benchmark DAX Index to a weekly decline, as employers in the U.S. hired fewer workers in May than forecast and a Hungarian official said the nation’s economy is in a “very grave situation.”