The Rising Influence of Rising Affluence

[ilpapa]

The pitfalls yawn

GlaxoSmithKline said a Chinese court found its subsidiary in the country guilty of bribing nongovernment personnel and fined the company close to £300 million ($491.5 million)

Chinese state media said it was the largest corporate fine the country had ever issued.

The pharmaceutical company said it had cooperated fully with the authorities and taken steps to comprehensively rectify the issues identified at the unit.