Uk Anti-corruption Efforts Are Getting Serious

“They took two diaries. Both were on corruption done by the UPA government,” Ramdev said. Ramdev was on Friday detained and questioned at Heathrow airport in London for over eight hours by British customs officials. There is no clarity over the reason for his detention at the airport. However, according to sources, Ramdev was questioned by customs officials as he came to London on a visitor visa instead of a business visa. Ramdev has been ordered to reappear for interrogation on Saturday. Meanwhile, according to one of the organisers of the function, he was questioned on books he was carrying which were in Hindi and Sanskrit. The officials detained Ramdev for over six hours before he was allowed to go. Some media reports also said that Ramdev was questioned about certain medicines he was carrying with him. Ramdev’s spokesman SK Tejarawala described as “baseless” that he was questioned on carrying some medicines. “It was not clear why the Yoga guru was detained for over six hours at Heathrow. He was not carrying anything with him except a small bag of personal effects. It is for the British authorities to explain why he was detained,” Tejarawala said. He said Ramdev has been cleared to go into the city.

UK watchdog accuses retailers of fixing sports bra prices

The four men are the first individuals charged in an international case under the UK Bribery Act, the countrys two-year-old anti-corruption law. They are not likely to be the last. Reports suggest the Serious Fraud Office and the City of London police, the agencies responsible for enforcing the law, are investigating up to 25 additional cases. Just as Bribery Act enforcement begins to hit its stride, the government is preparing to provide prosecutors with new tools: deferred prosecution agreements and sentencing guidelines. Both new mechanisms are intended to will provide greater clarity and predictability in future prosecutions. Deferred prosecution agreements allow companies to admit wrongdoing as part of a negotiation to suspend a criminal investigation. Such agreements are common in the US enforcement of the Foreign Corrupt Practices Act, and the US experience will serve as a model for the UK approach. The details are still being ironed out, but the a draft of the code conveys the basics: any company that enters into such an agreement must still pay a hefty fine, implement tough compliance measures, and agree to external monitoring of compliance efforts. Should a company fail to sufficiently implement the compliance measures, the suspension will be lifted and the prosecution for the original offense will proceed. Moreover, deferred prosecution agreements may not be offered to all companies, depending on the severity of the offense and the promptness of the companys disclosure. The Crime and Courts Actthe law that will allow for deferred prosecution agreementsis expected to take effect in February of next year. When it does, it will reduce the number of lengthy investigations that prosecutors must conduct, and it will provide companies that have erred a chance to make a clean break from past malpractice while avoiding the most severe penalties. As for those penalties, in June the UK Sentencing Council issued a draft set of guidelines for sentencing individuals and companies convicted of fraud, bribery and money laundering. The guidelines include a three-tiered rating system for determining an offenders level of culpability.

UK officials seized diaries that had proof against UPA, says Ramdev

Its shares fell as much as 1.6 percent on Friday. A spokeswoman for House of Fraser said: “We are confident that we have been operating within all laws and regulations and are very supportive of any initiative which ensures pricing policies are fair for our customers.” (Reporting by James Davey; Editing by Christine Murray and Mark Potter) @yahoofinance on Twitter, become a fan on Facebook Related Content Chart Your most recently viewed tickers will automatically show up here if you type a ticker in the “Enter symbol/company” at the bottom of this module. You need to enable your browser cookies to view your most recent quotes. Search for share prices Terms Quotes are real-time for NASDAQ, NYSE, and NYSEAmex when available. See also delay times for other exchanges . Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page . Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. All information provided “as is” for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein. Fundamental company data provided by Capital IQ .

UK investigating evidence of alleged price-fixing of popular sports bra

Britains retail regulator said Friday it has evidence that an underwear maker and three department stores colluded to inflate the price of a popular sports bra. More business news BlackBerry to lay off 4,500 or 40 percent of global workforce; posts nearly $1B 2Q loss Associated Press BlackBerry said it will lay off 40 percent of its global workforce, as it reports a nearly $1B second-quarter loss a week earlier than expected. Creating a class of do good companies Jena McGregor More and more leaders are adopting a new legal structure for their businesses–its called the benefit corporation. Panera Bread isnt just hungry for attention Jena McGregor CEO Ron Shaich is putting his money where his mouth is and trying to eat off $4.50 a day. The Office of Fair Trading said it is investigating whether DB Apparel U.K. entered into anti-competitive agreements with retailers John Lewis, Debenhams and House of Fraser between 2008 and 2011 over the Shock Absorber bra. The investigation involves three of Britains most-established retailers. The regulator said its provisional view was that the manufacturer and the stores agreed on retail prices, in a serious infringement of competition law. The offices senior director of services, Ann Pope, said the agency would hear from the companies before making a final ruling. The companies dispute the claims and say they are cooperating with investigators. The Shock Absorber was once advertised by tennis player Anna Kournikova under the slogan: Only the balls should bounce. Copyright 2013 The Associated Press. All rights reserved.