10 Stories

Snowden: NSA Also Engages in Industrial Espionage

German TV broadcaster releases notes on Snowden interview

(Newser) - Former NSA contractor Edward Snowden claims in a new interview that the US agency is involved in industrial espionage. German public television broadcaster ARD released a written statement before an interview airing tonight in which it quotes Snowden as saying that if German engineering company Siemens had information that would... More »

Iran Uses Internet to Spy on Dissidents

Nokia, Siemens technology allows regime to monitor Internet use

(Newser) - Iran has relied on European telecom companies, including Siemens and Nokia, to develop one of the world's most intricate systems for monitoring and censoring the Internet, reports the Wall Street Journal. The regime's surveillance goes beyond blocking access; it gathers information on individual users using a technique known as deep... More »

Halliburton Will Pay $559M in Nigerian Bribery Fines

The settlement is the second-largest under the current law

(Newser) - Halliburton will shell out $559 million in fines—the largest federal penalty ever paid by a US company for bribery—to the Justice Department and the SEC to settle claims that its former KBR unit greased the palms of Nigerian officials to help get a gas liquefaction facility built, along... More »

Siemens Will Pay $1.3B in Fines for Global Corruption

Company settles on US charges for $800M, shells out more over German accusations

(Newser) - German engineering conglomerate Siemens pleaded guilty today to an international pay-to-play scheme and will pay the US $800 million in fines, the Wall Street Journal reports. It will also give $528 million to the German government—adding to a $275 million payout last year. More »

Stocks Fight Back; Dow Up 553

Index off more than 300 early on ugly jobs news

(Newser) - Stocks rallied late today, overcoming the report of a big jump in weekly jobless claims that pushed the Dow briefly below 8,000 earlier in the session, MarketWatch reports. Amid mixed earnings reports and generally downbeat forecasts, the Dow gained 552.59 to close at 8,835.25. The Nasdaq... More »

Germans Get Engineers Started Young

Top firms aim to turn kindergartners toward tech careers

(Newser) - With a personnel shortfall that's serious and getting worse, Germany wants to get its next generation of engineers started as soon as possible, the Financial Times reports. Hundreds of companies are sending materials and experts to kindergartens to try interest youngsters in technology and science. They hope getting the tots... More »

Siemens to Slash 4,000 Jobs

Troubled telecom sparks fear of union anger over cuts

(Newser) - Siemens is cutting nearly 4,000 jobs and moving 3,000 workers away from its troubled telecom equipment unit, sparking fears of union outcry in Germany, the Wall Street Journal reports. Once a $30 billion annual revenue giant, the business has been trailing competitors in cheap-labor countries like China and... More »

Siemens Brings Trams to America

EU giant starts US plant, takes 200 rail orders from congested cities

(Newser) - Siemens is importing eco-friendly trams and light-rail transport to gas-guzzling America, Der Spiegel reports. The conglomerate has been making them in Sacramento for 2 years, and is seeing a brisk increase in demand from the almost 30 tram-loving US cities. The California plant has 200 orders already and expects more... More »

Inside the Siemens Bribery Scandal

How international prosecutors dug up suspicious payments

(Newser) - In one of the world's largest corporate bribery scandals in recent years, German industrial giant Siemens allegedly channeled millions of euros in bribes to customers in Nigeria, Russia, Libya, and other countries to win infrastructure contracts. The Wall Street Journal traces the unearthing of the Siemens case across four years... More »

Siemens, Banks Bow to US Pressure to End Iran Biz

Firms falling in line with anti-nuke arm-twisting

(Newser) - The Siemens company in Germany, one of the world's largest engineering operations, and the country's three largest banks are cutting business ties with Iran under White House pressure to get out or risk US interests. It's a sign that major European corporations are beginning to line up behind American economic... More »

10 Stories