Originally published on Tue April 24, 2012 3:41 am
Wal-Mart could face significant legal liability following a report accusing the company of systematic bribery in Mexico. A report in The New York Times claims Wal-Mart officials in Mexico paid more than $20 million in bribes to help the company open more stores there. The story also says top Wal-Mart executives in the U.S. looked the other way. The company's stock price fell nearly 5 percent Monday.
Let's follow up now on the situation in Bahrain. The country managed to stage its annual Grand Prix last weekend, which was, as we've reported, taken as a success for a government under intense pressure from protests. But at least one person was found dead after security forces clashed with demonstrators. This morning we've reached John Timoney. He's one of the best-known cops in America, former chief of Philadelphia and Miami, and now advising Bahrain's ministry of interior.
Originally published on Tue April 24, 2012 4:30 am
Weeks ahead of its initial public offering, Facebook released its first quarter profits Monday, and they are down 12 percent from a year ago. At the same time, company expenses have nearly doubled. Facebook attributes some of that to market expansion, which requires more employees and infrastructure.
And let's turn now to the first political leader to be put on trial for his role in the global banking crisis. Yesterday, a special court in Iceland found that country's former prime minister guilty of essentially mishandling the banking bubble that led to Iceland's financial collapse.
Michael Stothard has been covering this trial for The Financial Times. He joined us to talk more about it. Good morning.