Oil was down more than 1% early Thursday. OPEC members and other producers appear closer to reaching a deal to raise output at the end of the week. Watch oil trade in real time here. Crude prices slid Thursday as OPEC and other producers moved closer to a deal on […]
Criminal charges relating to an alleged cartel by Citigroup, Deutsche Bank and the ANZ have been formally laid. Senior executives at all three, including two former CEOs, also face criminal charges. Competition watchdog the ACCC says charges involve alleged cartel arrangements relating to trading in ANZ shares following a $2.5 […]
Criminal cartel charges over a $2.5 billion capital raising by the ANZ Bank, with details expected to be revealed this week, are a wake-up call to ASX-listed companies to treat all shareholders the same. The Commonwealth Director of Public Prosecutions is expected to start proceedings this week over alleged cartel […]
Credit reporting agency Moody’s Investors Service says criminal cartel proceedings against the ANZ Bank are credit negative. “The consequences of the potential proceedings could be significant and would be credit negative for ANZ,” says Frank Mirenzi, Vice President, Moody’s Investors Service. “Whilst, at this stage, there is material uncertainty with […]
Deutsche Bank AG has been named as one of the other companies to be charged over alleged cartel behaviour involving a 2015 share placement at the ANZ bank. The Australian Consumer and Competition Commission said Deutsche Bank, which has offices in Sydney, Melbourne and Perth and around 700 staff, is […]
A string of criminal charges are expected over an equity raising by the ANZ bank. Consumer watchdog the ACCC says charges involve alleged cartel arrangements relating to trading in ANZ shares following an institutional share placement in August 2015. ANZ and Deutsche Bank say they will defend any charges. The […]
Oil prices jumped to fresh highs on Tuesday morning. That’s on the back of a bullish OPEC report and Iran sanctions. Follow oil prices in real time here. Oil prices rose to fresh multi-year highs Tuesday morning after OPEC said it cut supply more than expected and as markets poised […]
An undercover DEA agent who spent 20 years working with killers and drug dealers explains what he did when asked to commit acts of violence.
The hits keep coming for struggling retailer Woolworths, which today copped a $9 million fine for breaching competition law in a price cartel over laundry detergent. In April, the Federal Court handed Palmolive one of the biggest fines in Australian corporate history, $18 million, after it pleaded to being part […]
VIDEO: Tom Wainwright, author of Narconomics, is the former Mexico City bureau chief for The Economist. He explains how drug cartels are taking advantage of Facebook's popularity by using the social media site to steal money.
Mexican officials have identified the bodies found in a burnt-out van as the two missing Australian surfers, Dean Lucas and Adam Coleman. The Sinaloa state attorney general, Marco Antonio Higuera, confirmed the findings despite the state still waiting on official paperwork. The van the men had been travelling in was […]
Fugitive Mexican drug lord Joaquin "El Chapo"...
Missing Australian surfers Dean Lucas and Adam Coleman, both 33, may have been targeted by drug gangs while driving through Sinaloa in rural Mexico last month, according to authorities. The ABC reports the Benito Juarez Highway, which the men were travelling on, is under the control of cartel loyal to […]
VIDEO: Leaked audio footage reveals that the infamous drug lord Joaquin "El Chapo" Guzman made loud hammering noises shortly before his escape from a Mexican prison that was either not noticed or ignored by security.
UK's competition watchdog is investigating...