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Stock Market & Financial Investment News

News Breaks
January 9, 2014
08:48 EDTAAAlcoa to pay $384M to settle SEC, DOJ bribery charges
The Securities and Exchange Commission charged Alcoa Inc. with violating the Foreign Corrupt Practices Act, FCPA, when its subsidiaries repeatedly paid bribes to government officials in Bahrain to maintain a key source of business. An SEC investigation found that more than $110M in corrupt payments were made to Bahraini officials with influence over contract negotiations between Alcoa and a major government-operated aluminum plant. Alcoa lacked sufficient internal controls to prevent and detect the bribes, which were improperly recorded in Alcoa’s books and records as legitimate commissions or sales to a distributor. Alcoa agreed to settle the SEC’s charges and a parallel criminal case announced by the U.S. Department of Justice by paying a total of $384M.
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May 11, 2015
19:01 EDTAAAlcoa to close Anglesea Power Station
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07:23 EDTAABofA/Merrill to hold a conference
Global Metals, Mining & Steel Conference is being held in Barcelona, Spain on May 11-14.

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