Interesting developments in the two big corporate bribery cases, Siemens and BAE Systems. The heat is on both companies and despite their best efforts, it's not going away.
First to BAE and we have reports that the Serious Fraud Office (SFO) in Britain is to relaunch its criminal investigation of alleged corruption and kickbacks at the armaments producer. That's only a year after Tony Blair and Lord , the then attorney-general stopped the inquiry. Both have since gone and the Brown government is desperate to be seen as lifting its game. Still, there is a question of whether the Brits are going to hand over the information to the US Feds.
On another front Siemens has run into trouble in Nigeria with reports that Nigeria has cancelled a $1 million-plus contract with Siemens and suspended dealings with the German firm pending an investigation into bribery allegations.
And its new chief executive Peter Löscher has blamed the culture of the company for the bribery scandal. And that, he says, has to change.
"One thing is clear: this company failed based on leadership responsibility and culture," he told the Financial Times. "We have to make sure we align responsibility and accountability in the company from the top down. Leaders will lead the company, leaders will be responsible, leaders will have ethical standards. This is a multi-year programme."