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The EU is looking now to start negotiations on tariff reductions, possibly including cars, as well as a separate set of talks on making it easier for companies to clear their products for sale on both sides of the Atlantic. Industrial good tariffs are already low, at around 4 percent. However, the Commission has said that removing them would boost EU exports to the United States by 8 percent and U.S. exports to the European Union by 9 percent by 2033. The United States has a wide-ranging wish list, including comprehensive agricultural market access. EU unwillingness to include farm products could set it on a collision course with Washington.
LONDON (Reuters) - The UK’s Serious Fraud Office (SFO) has abandoned two of its largest and longest investigations, into alleged bribery at aero engine maker Rolls-Royce and drugs maker GlaxoSmithKline, in a move described by one lawyer as “extraordinary”, The decision, which comes university of michigan game used football cufflinks under SFO Director Lisa Osofsky who took the helm last August pledging to review the agency’s caseload, weed out weaker cases and propel others forward, underlines the difficulties of prosecuting senior executives..
“After an extensive and careful examination, I have concluded that there is either insufficient evidence to provide a realistic prospect of conviction or it is not in the public interest to bring a prosecution in these cases,” Osofsky said. Rolls-Royce paid almost 500 million pounds ($650 million) under a Deferred Prosecution Agreement (DPA) with the SFO in 2017, drawing a line under a four-year investigation into allegations of criminal conduct spanning three decades, at least seven jurisdictions and three of the company’s business sectors.
Rolls apologized unreservedly after it was found to have paid bribes including a luxury car and millions of pounds of cash to middlemen to secure orders in countries such as Indonesia, Russia, India, China and Nigeria, But a parallel investigation into individuals university of michigan game used football cufflinks associated with Rolls-Royce, and the inquiry into GlaxoSmithKline and its subsidiaries, which began in 2014 shortly after the drugs group was fined 3 billion yuan ($447 million) in China for paying bribes to doctors to use its drugs, had made little progress..
“It is extraordinary the SFO are unable to charge any individual suspects in relation to Rolls-Royce, given the scale of the allegations in the DPA,” said Sarah Wallace, a partner at law firm Irwin Mitchell. But Wallace added: “It looks like Osofsky is drawing a line under historical cases and wants to stamp her own mark on new cases going forward.”. Robert Barrington, a director at anti-corruption group Transparency International, said the decision to drop the Rolls-Royce case could send a message to companies that DPAs were a soft option that give impunity to those who break the law.
“It is absurd that yet again a company can admit to bribery and yet university of michigan game used football cufflinks neither the bribe payers, nor the management team that allowed the crime to happen, are held responsible,” Barrington said, Rolls-Royce said it had noted the decision and declined to comment further, GSK said it was pleased at the SFO decision and that no further action was required, The SFO, which faced criticisms of serious failings last year after the collapse of a high-profile retrial of former executives from retailer Tesco, said Osofsky had quietly closed a number of investigations since taking up her post..
(Reuters) - Exxon Mobil Corp and Microsoft Corp have agreed to use cloud technology in the U.S. oil producer’s shale operations, they said on Friday, helping to boost profitability in the nation’s largest shale field. The companies will collect data from Exxon’s wells and other production assets in the Permian Basin of West Texas and New Mexico, where the world’s largest publicly traded oil and gas company holds 1.6 million acres, and make it immediately accessible to Exxon workers.
The value of the agreement was not disclosed, But the partnership is the industry’s largest in cloud computing, Exxon said in a statement, The technology would allow equipment leaks to be immediately detected to reduce university of michigan game used football cufflinks repair times in remote locations, and apply artificial intelligence to analyze drilling and completions data, Exxon said, Exxon has pledged to increase its Permian Basin production to 600,000 barrels of oil equivalent per day (boepd) by 2025, The company’s fourth-quarter Permian production was 190,000 barrels of oil and gas per day..