The Swiss engineering group said that poor management oversight was to blame for a “sophisticated criminal scheme” at is South Korean unit.
In this interview, Frank Muusse, head of corporate finance and financial risk at Philips Lighting, outlines his work for the company and the impact of changing risk and financial regulation.
The Swiss group’s revelation of a US$100m loss at its South Korean subsidiary could be just one example of “a ticking time bomb”, claims Bottomline Technologies.
Effective supply chains depend on the strength and versatility of every participant. How can this be achieved in today’s testing business environment?
Falling world shipping rates, which pushed Korea’s Hanjin Shipping into bankruptcy last August, have resulted in hefty bad shipping loans for Germany’s banks.
Trade finance fraud has claimed some high-profile victims, including major Chinese banks. However, the elimination of paper-based documentation should reduce the ability of the scammers to strike.
Global infrastructure projects attracted a record US$413bn of investment in 2016, driven higher by aggregate transaction value of $131bn in Asia.
The UK aerospace group agreed a settlement with authorities in the US, US and Brazil.
The complexity and speed of change of emerging risk exposures are placing greater attention on the effectiveness of enterprise risk management (ERM) ... read more
Global fines relating to anti-cartel activity rose by 28% last year, with the EU pushing the figure higher.