British fraud investigator widens Rolls-Royce probe to Nigeria

BRITAIN’s Serious Fraud Office (SFO) has widened its investigation into Rolls-Royce to examine allegations of suspected bribery in Nigeria, the Financial Times reported yesterday. Rolls-Royce, the world’s second-largest maker of aircraft engines, said in 2013 the SFO had launched a formal investigation into concerns about possible bribery and corruption in China and Indonesia. The FT said yesterday this had now spread to examine Rolls-Royce’s former energy operations in Nigeria. “We are co-operating with the authorities,” a Rolls-Royce spokesman said. “We do not comment on the subject of ongoing investigations nor on the countries in which those investigations are being conducted. We have made it clear that Rolls-Royce will not tolerate business misconduct of any kind.”The SFO declined to comment on the report but said its investigation continues. The FT cited people familiar with the situation as saying the SFO was investigating whether Rolls and its agents were involved in any bribery of government officials in Nigeria up to the year 2013. Rolls has over the last two years been hit by canceled orders from oil industry customers for power systems after a plunge in the oil price, and a slowdown in demand for the high-margin aftermarket servicing it provides for older aircraft engines. It downgraded profit forecasts three times last year.

Read more at: http://www.vanguardngr.com/2016/05/british-fraud-investigator-widens-rolls-royce-probe-nigeria/

Comments

Post a Comment

Popular posts from this blog

http://www.ibtimes.com/apple-175-iphones-risk-if-fbi-wins-court-victory-2327305

BY  MIKE BROWN Apple's challenge of a court order to unlock an iPhone used by one of the San Bernardino killers opens up a new front in the long-running battle between technology companies and the government over encryption. PHOTO: KENA BETANCUR/AFP/GETTY IMAGES Granting the FBI access to the San Bernardino shooter’s iPhone would set a precedent that could be used “on over 175 phones,” Apple plans to tell the House Judiciary Committee Tuesday. Bruce Sewell, Apple general counsel, will testify in a hearing called “Balancing Americans’ Security and Privacy,” and  Re/code  has released Sewell’s prepared speech ahead of the meeting. Sewell will reference comments from Manhattan district attorney Cyrus Vance, who said in an interview with NPR  that his cyber lab cannot access 175 phones out of a total 670 phones being held. Vance said that he wants Apple to unlock phones “when there is a court order by an independent judge” that proves it is necessary. The FBI want access to
Read more

At Mobile World Congress, Mobility In The Cognitive Era

Image
By Mahmoud Naghshineh, IBM More than 90,000 people will convene at  Mobile World Congress  in Barcelona this week to learn about the latest in mobile tech. Besides checking out the hottest new devices, including the  Internet of Things  (IoT) and wearables, I expect attendees will be talking a lot about how mobility is creating new models for the enterprise, as well as pathways to greater efficiency and growth. We’ll be sharing our unique point of view on how the powerful combination of  cognitive computing  and mobility can serve up insights that change the way professionals and businesses work. We’ve launched more than  100 IBM MobileFirst for iOS apps , which has put  analytics  in the hands of professionals ranging from wealth advisors to flight attendants, first responders, nurses and sellers to help them make better decisions, deliver superior service and delight their customers. Clients are deploying  IBM MobileFirst for iOS  and we’ve seen exciting use cases w
Read more

Age And Ability ... In The Cognitive Era

Image
By Frances West, IBM Our parents and grandparents represent one of the most complex societal and economic challenges facing nations as they struggle with increasing costs of healthcare and decreasing numbers of caregivers. People aged 60 and older currently make up approximately 12 percent of the global population, and by 2050, that number will rise to almost 22 percent, according to the United Nations . The challenge then becomes helping the elderly easily adapt to a technology-driven world, prolong their independence, stay more connected with friends and family, and help manage life’s everyday decisions. As we enter the  cognitive era , we have an incredible opportunity to augment our ability to better understand — and make more informed decisions — about our health, wealth and our overall happiness. Cognitive computing is a fundamentally new way for individuals and organizations to gain knowledge by “hearing” the complexities of natural language, “reading” and analyzing
Read more