India Accuses Rolls-Royce, BAE Systems of Corruption Over Fighter Jet Deal, FT Reports
--India's Central Bureau of Investigation, or CBI, has accused Rolls-Royce and BAE Systems of corruption over deals to provide fighter aircraft to the country, the Financial Times reports.
--The CBI alleges that between 2003 and 2012 both companies engaged in a "criminal conspiracy" over deals to manufacture dozens of BAE Hawk jet fighters which used Rolls-Royce engines, according to the FT.
--The bureau has filed a criminal complaint, based on a preliminary inquiry launched in 2016, which sets out the allegations for further investigation, the FT reports.
--Rolls-Royce said it was "continuing to assist the Indian authorities" on the probe, while BAE said it "would be inappropriate to comment on an ongoing investigation," according to the FT.
Full story: https://shorturl.at/erwRY
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
May 30, 2023 10:44 ET (14:44 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
5 Stocks to Buy That We Still Like After They’ve Run Up
-
Markets Brief: Stocks Are Starting to Look Cheap Again
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track
-
American Airlines Earnings: We See Costs Overshadowing Market Share This Year
-
Snap Earnings: Advertising Growth and Snapchat+ Drive Monetization
-
STMicro Earnings: We Still See an Attractive Margin of Safety Despite a Poor First-Half Forecast
-
Alphabet Shares Surge on Strong Earnings, Dividend Surprise
-
Microsoft Earnings: Firm Beats Forecasts on Strong AI and Cloud Demand
-
PG&E Earnings: Near-Term Regulatory Certainty Supports Industry-Leading Earnings Growth