Eni fires manager, plans probe in effort to control graft scandal

Article Abstract:

Eni S.p.A. hopes the firing of a manager and the launching of an internal investigation will quell a scandal brewing over allegations that employees at the oil giant's Enipower subsidiary have been accepting bribes from outside companies. Prosecutors in Milan are also investigating the case, which came to light when Swiss engineering firm ABB discovered illegal payments made in connection with sales to Enipower.

Comment:

Eni S.p.A. hopes the firing of a manager and the launching of an internal investigation will quell a scandal brewing over allegations that employees at the oil giant's Enipower subsidiary have been accepting bribes from outside companies.

Italy, Product standards, safety, & recalls, Management dynamics, Crude Petroleum and Natural Gas Extraction, Crude petroleum and natural gas, Executive changes & profiles, Public affairs, Crude Petroleum & Natural Gas, Petroleum refining, Parent-to-subsidiary activities, Subsidiary-to-parent activities, Bribery, Standards, Management, Officials and employees, Finance, Investigations, Petroleum industry, Eni S.p.A., Public relations, Company business management, ABB Asea Brown Boveri Ltd., Company public relations, Company financing, Subsidiaries, divisions and units, Mincato, Vittorio, Enipower

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ABB hearing date is postponed

Article Abstract:

ABB Ltd. believes that it can reach a settlement on major asbestos litigation against the company in the U.S. However, a date for the final hearing on the litigation has been delayed yet again by an additional ten days to May 12 and 13, 2003.

United States, Actions and defenses, Litigation, Lawsuit/litigation, License lawsuit, Actions and defences

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ABB weathers investor jitters over asbestos

Article Abstract:

ABB Ltd.'s investors continue to raise concerns about the company, as it moves closer to a settlement on asbestos liability claims. In addition, investors should become more optimistic as a result of an imminent divestment.

Strategy & planning, Planning, Investor relations, Company business planning

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