Tag Archive for ‘United Kingdom’
Five more journalists from a Rupert Murdoch-owned British tabloid were arrested as part of an ongoing bribery investigation. The arrested journalists, all from the The Sun, were later released, and have yet to be charged with any crimes. But the arrests have once again raised questions about whether Murdoch’s News Corporation might face prosecution for bribery in the U.S. under the Foreign Corrupt Practices Act.
New documents published today cast doubt on News Corporation’s claims that top executives and editors at the now-defunct News of the World were unaware of widespread phone hacking at the paper. One of the documents had also been aggressively redacted by News Corp., which removed references that referred to top editors knowing about the hacking.
Columnist Gael O’Brien says the U.S. has failed to show leadership in gender diversity on corporate boards, raising questions about what it can learn from other countries that have imposed quotas for women directors. While quotas can stir up discomfort, she writes, there’s a “complacency, even smugness” about boardroom diversity in the U.S. that argues in favor of requiring companies to take action.
The Murdochs and their executive team at News Corp. need to begin building “a new corporate conscience,” argues Patricis Harned, President of the Ethics Resource Center. “NewsCorp is now literally fighting for its life,” she writes. “The best defense, as we have seen with companies that have survived such crises, is not to spin its story, but to start writing a new one.”
The embattled media conglomerate News Corporation and its independent directors have not only hired top criminal defense lawyers, they’ve also hired former Justice Department prosecutors well-versed in U.S. bribery law. The new hires are a sign that the company is taking the Justice Department’s preliminary investigation rather seriously.
Though News of the World shut its doors on Sunday, the UK’s hacking scandal is deepening. Allegations of illegal activity have spread beyond News of the World to other Murdoch papers, and far beyond hacking into people’s voice mails. With all the new details emerging, it’s getting hard to keep track. Here’s a brief rundown of the latest revelations.
As the phone hacking scandal continues to unfold, British press reports say more than $160,000 was paid by News of the World reporters to police officers in the U.K. News of the World is owned by Rupert Murdoch’s News Corp. – whose stock is listed in the U.S. – and the alleged bribes could cause the company serious trouble with U.S. prosecutors or the Securities and Exchange Commission.
The UN’s endorsement of the Guiding Principles on Business and Human Rights marks not just a successful end to the mandate of UN Special Representative John Ruggie. It also signals a new beginning for business and human rights as companies around the world begin to implement the principles to ensure respect for human rights in all their operations.
Institutional investors and pension fund managers in the United Kingdom should do more to monitor and engage with the companies in which they invest – or else explain why they have not done so, according to provisions of a new voluntary code issued by the U.K.’s Financial Reporting Council.
A Transparency International report found that while most export credit agencies have formal policies that prohibit support for bribe-tainted transactions, they do not require applicants to have management controls to deal with bribery and none have issued guidance to applicants describing elements of an appropriate anti-bribery program.