News

China continues to show off its influence over the London market as some of the big miners took a heavy dent on the first day when most trading desks were full after the festive celebrations.

Bribery verdicts show peril of doing business in China

Australian executive of Rio Tinto among four jailed after secret hearing / Trial followed wrangles between Beijing and multinational mining companies

Rio Tinto employees get 14 years in jail

A Chinese court has sentenced four employees of mining giant Rio Tinto to jail terms of seven to 14 years on bribery and commercial secrets charges.

China's Sinopec urges tightening of corruption laws

Chinese refinery giant Sinopec is urging the Beijing government to tighten corruption laws and “severely punish” lawbreaking foreign businesses.

SFO looks to investigate Rio's role in bribery case

The Serious Fraud Office said yesterday that it was "assessing" the case of the four Rio Tinto executives whose bribery and espionage trial closed in Shanghai yesterday, and whether their guilty pleas warranted an investigation in the UK.

David Prosser: The questions that Rio Tinto must answer

Outlook Now the trial of the Rio Tinto four is over, will one of the world's largest mining companies give a full account of this sensational case? While the proceedings have been ongoing, Rio has been able to avoid saying much in public about the events leading up to the hearings. That defence is no longer open to it.

Leading article: Facing down the Chinese dragon

These are uncertain times for western businesses which operate in China. The trial in Shanghai of four executives of the Anglo-Australian mining giant Rio Tinto, including one Australian citizen, on charges of bribery and commercial espionage ended yesterday. The verdict is not expected for several days but the trial has already exposed the opaqueness of the Chinese courts.

Rio Tinto trial moves behind closed doors

The trial of the four Rio Tinto executives facing bribery and espionage charges in China moved behind closed doors today as the court heard evidence that Stern Hu, an Australian national, and his three Chinese colleagues, had stolen commercial secrets.

Rio Tinto executives admit to taking bribes in China

Australian Stern Hu admits accepting payments, but contests amounts

Rio Tinto agrees huge iron ore deal

Deal with Chinese group as four employees face bribery trial in Shanghai

China sets spy trial date for Rio Tinto executives

Four Rio Tinto executives facing spying and bribery charges in China will go on trial in Shanghai on Monday with part of their hearing held in secret, the Australian government confirmed yesterday. The Anglo-Australian mining giant refused to comment yesterday beyond saying that it hoped "for a transparent and expeditious process for its employees".

China baulks at iron ore price rise

European steel groups also accuse iron ore miners of threatening recovery

Brinkmanship increases over iron ore price negotiations

Iron ore producers have offered Chinese steel mills a 50 per cent hike in the price of the commodity during annual negotiations, reports in the state-owned Chinese media suggested yesterday.

Rio resumes dividend payments

The world's third biggest mining group, Rio Tinto, yesterday gave an optimistic assessment of global commodity markets, but warned that prices could be volatile throughout 2010 as stimulus packages were removed.

Chinese court charges 'Rio four' with bribery and espionage

The mining giant has repeatedly denied the allegations against its staff

The Week Ahead: Diageo to offer little cheer after weak sales

Analysts have voiced fears about further revenue slides at Diageo, which owns brands from Guinness to Baileys, when the world's largest drinks company reports first-half results on Thursday.

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