Ecclestone on trial
Formula 1 motor racing mogul Bernie Ecclestone is facing corruption charges in a courtroom in Munich. He's accused of bribing a former German bank executive to sell a controlling stake in Formula 1 to a private equity group Ecclestone favored. The prosecution says Ecclestone paid the banker $45 million. If convicted, 83-year-old Ecclestone could go to prison.
General Electric eyes Alstom
US conglomerate General Electric is reportedly in talks to acquire the struggling French turbine and train maker Alstom for about €9.5 billion. The company has looked vulnerable lately, losing 30% of its share value since the beginning of the year. And the deal would give GE a big leg up on one of its main global rivals, Germany's Siemens.
Rana Plaza one year later
One year ago, more than 1,100 people died in the collapse of Rana Plaza, a building housing textile factories in Dhaka, Banagladesh. In the wake of the disaster, the international garment industry pledged to improve safety standards and compensate the victims and their families. One year later, not much has been done to improve safety. Many of those who were injured and the families of those who died have received little, if any, compensation. So far, only half of a €29 million fund has been disbursed.