Financial Transparency Coalition

ZURICH (Reuters)- After the collapse of Lehman Brothers in September 2008, Switzerland's largest bank was teetering. UBS, which was more than three times bigger than Lehman in terms of assets, had to write down some $50 billion during that tumultuous period.

March 26 (Bloomberg) -- African nations lost $854 billion in illegally transferred funds over the past four decades, at least double the official development assistance given to the continent, according to a report released today.

Innospec Inc., a Delaware corporation, pleaded guilty today to defrauding the United Nations (UN), to violating the Foreign Corrupt Practices Act (FCPA) and to violating the U.S. embargo against Cuba, announced Assistant Attorney General Lanny A. Breuer of the Criminal Division; Director Adam Szubin of the Department of the Treasury’s Office of Foreign Assets Control (OFAC); Assistant Director in Charge Shawn Henry of the FBI’s Washington Field Office; and Robert Khuzami, Director of the U.S. Securities and Exchange Commission’s (SEC) Division of Enforcement

The Guardian -- Large companies should reveal how much of their profits they pay in tax to developing nations to show they comply with local corporation tax regimes, Stephen Timms, the Treasury minister, will say tomorrow as part of a three-pronged effort to boost tax revenues in poor countries.