Financial Transparency Coalition

As The Guardian reports this morning:

More than a third of the subsidiaries owned by major energy and mining companies including Shell, BP and Glencore are based in “secrecy jurisdictions” where company accounts are not publicly available, according to a report. The study by Publish What You Pay Norway, which campaigns for transparent accounting among oil, gas and mining giants, claims that populations in resource-rich countries are losing out because they are unable to extract financial information from businesses operating on their soil or off their seaboards. “Extractive industry giants’ corporate ownership structures, their use of secrecy jurisdictions and the...

Daily Telegraph: The fall - down 1.4pc to £23.88 - was not as sharp as in Sydney where the shares fell as much as 3.3pc at one stage. An article published on a website controlled by the Chinese State Secrets Bureau also claimed that large amounts of “intelligence and data” had been found on Rio’s computers following the arrest of four Rio executives on spying charges last month.