Facing bribery charges, Bernie Ecclestone, chief of Formula One racing, has stepped down from the board of the company that runs the sport, Delta Topco, until the case concludes.
Ecclestone will continue to run the sport franchise on a day-to-day basis, but he will cease being the board’s director and be subject to increased monitoring and control by the board during the duration of the litigation.… Continue Reading
Han Shuming, former head of Changshou District in Chongqing Municipality, was sentenced to 14 years jail for accepting bribes worth $724,680. Han had abused his position to assist two businessmen surnamed Jiang and Li to obtain land leasing and construction contracts.… Continue Reading
The Foreign Account Tax Compliance Act (FATCA), a new law coming into force on July 1 that seeks to find out where U.S. taxpayers hold offshore bank accounts, has stirred controversy and opposition.… Continue Reading