Home » petrobras

Tag: petrobras

This is Brazil’s next big corruption scandal

+ Brazil’s next big corruption scandal is unfolding along white-sand beaches just south of Rio de Janeiro, where state-run Eletrobras’s nuclear power plant sits in a beautiful bay favored by the country’s elite. Five of the construction companies whose executives “have been jailed on allegations they bribed officials at [oil and gas giant] Petrobras” also won contracts to build the $4.4 billion nuclear plant, reports Bloomberg.

+ Hermes is investigating the suppliers of the crocodile skins used in its iconic Birkin bags after actress Jane Birkin expressed concern about how the animals are slaughtered. Recently, People for the Ethical Treatment of Animals posted online gruesome videos of the animals being skinned at sites in Texas and Zimbabwe that allegedly supply the luxury goods company.

+ The chief minister of the Indian state of Goa twice took bribes between 2010 and 2011 from officials at Louis Berger, the American consulting firm, as part of the company’s effort to be awarded lucrative contracts to work on a water project. In a statement, the company said: “We conducted an internal investigation,cooperated with the US Department of Justice investigation and addressed, in an honest and transparent way the problems caused by rogue former managers James McClung and Richard Hirsh.”

+  The incredible story of the small Swiss company that helped US and British intelligence agencies spy during the Cold War by informing them about worldwide developments in encryption.

You were right all along – Whole Foods is ripping you off

  • Whole Foods, the haute bourgeoisie’s favorite grocery chain, is under investigation for mislabeling products and overcharging customers. When New York’s consumer affairs agency tested 80 different types of products including meat, dairy and baked goods, it found that every single product was mislabeled, cheating customers.
  • How easy is it for terrorists to set up shell companies right under our noses? More than 34 years after the U.S. cut off relations with Tehran amid the hostage crisis, the Iranian government’s national bank was able to “purchase and rent out property on New York’s 5th Avenue just off Rockefeller Center.”
  • It’ll be interesting to see today how feisty federal judge Jed Rakoff – notorious for standing up to Wall Street and rejecting some of the SEC’s settlements with big banks for being too lenient – handles a massive case involving Petrobras, the Brazilian oil giant rocked by a bribery scandal. Petrobras is asking Rakoff to throw out lawsuits filed by disgruntled investors who claim that the company issued misleading statements and should have known about alleged kickbacks.
  • The Swedish defense company Saab paid a billion kronor to “shady middlemen as part of a controversial deal to sell fighter jets to South Africa,” according to documents obtained by Sweden’s Expressen newspaper.