SEOUL (Reuters) – On a recent weekend night, the dance floor at one of the hottest clubs in Seoul’s swanky Gangnam district held only a few dozen people surrounded by mostly empty tables. A few months ago, the nightclub would have been packed with hundreds of ... More »
SINGAPORE (Reuters) – A former Goldman Sachs Group Inc. (GS.N) banker is in talks with U.S. prosecutors to potentially plead guilty to criminal charges stemming from an alleged scheme to steal billions of dollars from a Malaysian state investment fund, the Wal... More »
(Reuters) – Hugh Grant, the British actor who finally succumbed to marriage after decades of deriding it, said he tied the knot for a good reason. “We’ve got three kids together, we live together, and I didn’t like the moment at immigration,” Grant said in an ... More »
Nobel medicine laureate Shinya Yamanaka of Japan speaks during a news conference at the Karolinska Institutet in Stockholm December 6, 2012. REUTERS/Bertil Enevag Ericson/Scanpix Sweden TOKYO (Reuters) – Japan chastised a Kyoto University stem cell research te... More »
FILE PHOTO: The logo of Kobe Steel (Kobelco) is seen at the company headquarters in Kobe, western Japan October 24, 2017. REUTERS/Thomas White/File Photo TOKYO (Reuters) – Kobe Steel Ltd (5406.T) said on Friday it has been hit with lawsuits over its data tampe... More »
The building that houses the headquarters of Mitsubishi Materials Corp is seen in Tokyo, Japan, November 24, 2017. REUTERS/Toru Hanai TOKYO (Reuters) – Mitsubishi Materials Corp (5711.T) saw its stock fall as much as 11 percent on Friday after it said three su... More »
TOKYO (Reuters) – Shares of Mitsubishi Materials Corp (5711.T) fell as much as 11 percent on Friday after the company said its subsidiaries had falsified product data, the latest in a series of quality assurance scandals involving Japanese manufacturers. Mitsu... More »
Kobe Steel Ltd said on Friday a lack of quality controls and a focus on profits was behind the widespread data tampering that has shaken up the supply chains of car and plane makers around the world. More »
Kobe Steel (5406.T) executives, including President Hiroya Kawasaki, will decide whether to resign to take responsibility for a cheating scandal after a report from independent investigators due by year-end, two sources told Reuters. More »
Embattled Kobe Steel Ltd has decided to withdraw its forecast for the current financial year as it struggles to quantify the impact of its data falsification scandal, the Nikkei business daily reported on Monday. More »
Nippon Steel & Sumitomo Metal Corp, Japan's biggest steelmaker and a shareholder of Kobe Steel Ltd, is willing to provide support to Kobe if it receives any request, the president of Nippon Steel said on Monday. More »
Kobe Steel Ltd is considering withdrawing its earnings forecast for this fiscal year as it struggles to quantify the impact of its data falsification scandal, Kyodo reported on Monday. More »
When cheating becomes habitual, the consequences could be costly. More »
Crisis-hit Kobe Steel Ltd (5406.T) said on Friday its steel division has also falsely labeled products, the latest in a string of revelations confirming widespread cheating at the firm that has engulfed its global customers. More »
Boeing Co (BA.N), the world's biggest maker of passenger jets, has used Kobe Steel (5406.T) products that include those falsely certified by the Japanese company, a source with knowledge of the matter told Reuters. More »
The revelation that Japan's third-biggest steelmaker Kobe Steel Ltd (5406.T) fabricated data for some of its aluminum and copper and other products has left affected manufacturers scrambling to pin down the potential impact. More »
Europe's Airbus does not buy products directly from Japan's Kobe Steel but is investigating whether any of its suppliers have been affected by a cheating scandal at the Japanese group, an Airbus spokesman said. More »
The logo of the Monetary Authority of Singapore (MAS) is pictured at its building in Singapore in this February 21, 2013 file photo. REUTERS/Edgar Su/File Photo The Monetary Authority of Singapore (MAS) issued a 10-year prohibition order on Monday against Tim ... More »
Men walk past a 1Malaysia Development Berhad (1MDB) billboard at the fund’s flagship Tun Razak Exchange development in Kuala Lumpur March 1, 2015. REUTERS/Olivia Harris/File Photo The Australian Federal Police (AFP) said on Tuesday they are working with intern... More »
Pro-democracy group ”Bersih” (Clean) chairwoman Maria Chin Abdullah (C) rallies supporters as they prepare to march towards Dataran Merdeka in Malaysia’s capital city of Kuala Lumpur August 29, 2015. REUTERS/Edgar Su The leader of Malaysian pro-democracy group... More »
Switzerland’s financial watchdog FINMA has sanctioned Falcon Private Bank Ltd after it “seriously breached” money-laundering regulations over its handling of funds linked to scandal-hit Malaysian state investment fund 1MDB, FINMA said on Tuesday. More »
Abu Dhabi investor Aabar is at this time not divesting Zurch-based Falcon Private Bank, the chief executive of the Swiss wealth manager said on Tuesday. More »
An empty reception area at Falcon Private Bank office in Singapore October 11, 2016. REUTERS/Edgar Su Abu Dhabi investment firm Aabar Investments [INPTVA.UL] said on Tuesday it was fully behind its Falcon Private Bank unit after it was sanctioned in relation t... More »
An empty reception area at Falcon Private Bank office in Singapore October 11, 2016. REUTERS/Edgar Su Singapore’s central bank on Tuesday shut down a second Swiss bank in the city-state and fined banks DBS and UBS in its biggest crackdown on alleged money-laun... More »
SINGAPORE Singapore’s central bank said it will enhance controls against money laundering and take swift action against banks following damaging findings that financial institutions in the city-state handled money flows linked to Malaysian state fund 1MDB. “Th... More »
SINGAPORE Singapore’s central bank, which has ordered Swiss private bank BSI to close its local operations, said on Friday BSI’s appeal to a Swiss court against a decision by Switzerland’s financial watchdog has no bearing on regulatory action in Singapore. In... More »
