Latest Business News: GlaxoSmithKline's China Network Caught in Bribery Scandal

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Latest Business News: GlaxoSmithKline's China Network Caught in Bribery Scandal

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Latest Business News: GlaxoSmithKline's China Network Caught in Bribery Scandal

by Wochit 0:47 mins

Latest Business News: GlaxoSmithKline's China Network Caught in Bribery Scandal

by Wochit 0:47 mins

An investigation by Chinese authorities into the activities of GlaxoSmithKline has allegedly turned up a bribery network that involves government officials, doctors, hospitals and at least 700 travel agencies. The price of oil fell to near $104 a barrel, extending a big drop the previous day sparked by weakness in China's economy. Helped by revenue increases across most of its business lines, U.S. manufacturer 3M Co posted a slightly higher quarterly profit and raised the number of shares it expects to buy back this year.

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