Japanese company Kobe Steel this week said it had received a request from US judicial administrative authorities for documents following its admission earlier this month that the company had been falsifying data about its metal products for several years and in some cases for a decade. The company said it would be co-operating with the US investigation. […]
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Anglo-Australian mining giant Rio Tinto has been fined £27m by the Financial Conduct Authority (FCA) for breaching UK disclosure rules while the US Securities & Exchange Commission has charged the company and former executives with fraud in relation to the acquisition of a coal mine in Mozambique in 2011. Rio Tinto is also being investigated […]
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Independent investors in media group Sky voted heavily against the remuneration report with just 36% of shareholders giving it their backing at the AGM this week (12th October). Chairman James Murdoch received a narrow vote in support of his re-election amid concerns about his lack of independence. Manifest’s pre-AGM analysis of Sky’s executive remuneration gave […]
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Drinks company Diageo has topped the latest rankings for good corporate governance from the Institute of Directors (IoD) in its third annual review of the UK’s top 100 companies. The 2017 Good Governance Report was compiled for the IoD by Cass Business School and examines a range of 47 factors relating to how companies are […]
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Water supplier, United Utilities, which has customers based in the North West of England, has been fined £666,000 and ordered to pay costs of over £32,000 after pleading guilty to polluting a river with untreated sewage effluent in Greater Manchester in 2014. The UK’s Environment Agency took the prosecution against, the water company after sewage polluted […]
Read MoreIn the run up to the Sports Direct AGM this week (6th September) there were calls for shareholders to vote against the re-election of its chairman, Keith Hellawell, amid concerns that he has not been strong enough in dealing with the governance concerns that have surrounded the retailer for the past two years. Having said […]
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AIM-listed Telit Communications has dismissed its chief executive, Oozi Cats, following the revelation that he had faced criminal charges and was on run from the US authorities. Yosi Fait, the financial director was appointed as interim chief executive. Following investigations by media outlets, including the financial blog ShareProphets it was suggested that Oozi Cats and his wife […]
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Japanese company, Toshiba, which has been restructuring after admitting accounting failures in 2015 has published its annual report for 2016 after receiving a qualified opinion from its auditor, PWC Arata, which meant the firm avoided being delisted from the Tokyo Stock Exchange. Toshiba stated that the auditor gave its qualified opinion because it said it […]
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AIM-listed Real Good Food has admitted to not disclosing payments to directors in its related parties transaction notes within its annual reports for three financial years from 2014 to 2016. These notes should have revealed the payment of consultancy fees to two of its directors – its executive chairman, Pieter Totté and a non-executive director, Peter […]
Read MoreRetailer Sports Direct which has been under intense scrutiny from investors, politicians and the media for over a year due to perceived corporate governance failings and criticisms of its working practices has appointed a permanent finance director. Jon Kempster will join the company and its board in September. His previous experience includes being finance director […]
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