A Chinese probe into GlaxoSmithKline Plc.’s local sales practices should send a warning to other foreign companies doing business in the country that “ethics matter,” the official news agency Xinhua said in an editorial.
Chinese police handed a bribery case against GlaxoSmithKline Plc’s China unit to prosecutors, accusing a British executive of ordering employees to illegally pay doctors, hospitals and medical associations to boost sales.
Rio Tinto Group has assured the West African nation of Guinea its dispute with Vale SA over rights to the world’s biggest untapped iron-ore deposit won’t affect a plan to build a mine estimated to cost $20 billion.
Rio Tinto Plc sued Vale SA and Israeli billionaire Beny Steinmetz and his BSG Resources Ltd., saying they conspired to steal rights to the world’s biggest untapped iron-ore deposit by bribing officials in Guinea.
China Power Investment Corp. may buy a Rio Tinto Plc coal mine in Zimbabwe and build a thermal generator that would double the power-starved country’s capacity, Finance Minister Patrick Chinamasa said.