Business articles

Tesco handed £214m penalties on false accounting

Supermarket Tesco has agreed to a fine and compensation costs totalling £214 million ($268 million, 247 million euros) after an accounting scandal at Britain’s biggest retailer, the Serious Fraud Office said Tuesday.

China Southern, American Airlines announce tie-up

China Southern Airlines said Tuesday it would sell almost a one-tenth stake to American Airlines in a $200 million tie-up that could see two of the world’s biggest carriers cooperate in a range of areas.

Gross, Pimco settle breach-of-contract suit

Former Pimco co-founder and bond guru Bill Gross settled a wrongful termination and breach-of-contract suit against his ex-employer, the two parties said Monday in a joint statement released by Pimco.

Heineken bottles out in Hungary beer row

A row between Heineken and a small Romanian brewer backed by the Hungarian government looked to be over Monday, just days after Budapest threatened to ban the Dutch giant’s famous red star logo.