In what is being claimed to be the largest corporate settlement of its kind in U.S. history, BP Plc has been levied a fine of more than $20 billion to resolve nearly all claims from its deadly Gulf of Mexico oil spill five years ago.   This was informed by U.S. Attorney General Loretta...

As Nestle, the world's biggest packaged food firm focuses more closely on its higher-performing brands, it is on the way to merge its international ice cream business with R&R Ice Cream. On Monday the company said that the merger talks were at an advanced stage.   There were earlier...

In what is being viewed as one of the biggest labour compensation agreements being awarded for one single employee, two of the biggest names in engineering, Siemens and Fluor, will have to pay more than £1m in fines and costs to a man was fatally injured during construction of an offshore wind...

Samsung can be accused of deception of certification laboratories, according to The Guardian. It is reported that, in test mode, Samsung TVs automatically reduces the brightness of the backlight that reduces power consumption. In actual use, they don’t. European Laboratory ComplianTV accuses...

After having reached a restructuring deal with 95% of its secured lenders to reduce its debts, Los Angeles-based American Apparel has filed for Chapter 11 bankruptcy protection.   Around $90m in debtor-in-possession financing would be provided by American Apparel's secured lenders...

The first ever “neural automation system” will be developed by Tata Consultancy Service. London – 02 October 2015 – A “British mutual financial institution” has entered into a partnership with the “Tata Consultancy ServicesBSE 2.01 %”, one of the major IT firms, which was announced by the latter on...

South Korean electronics giant is trying to start a culture that infuses the Silicon Valley startup culture into a huge multinational conglomerate.   Progress in this aspect is being made primarily due to the setting up of an innovation centre, accelerator,...

Following the Volkswagen emissions scandal, more than two dozen diesel car models made by BMW, Chrysler, General Motors, Land Rover and Mercedes-Benz are being investigated by the U.S. regulator that exposed Volkswagen's rigging of emissions tests to ascertain whether the other car manufacturers...

After a $1.3 billion accounting scandal, Japanese electronics giant Toshiba Corp could lay off staff in its under performing home appliances, TV and PC businesses.   This was said by the chief executive of the company on Thursday adding that the company was on the lookout for a partner for...