Major oil company Total was fined for $ 3.6 million

Major oil company Total was fined for $ 3.6 million

11.12.2015 News

Major oil company Total was fined for $ 3.6 millionCommodity Futures Trading Commission USA announced the application of penalties in respect of the American division of the oil company Total. The company is accused of fraud in the gas market in the USA, in an attempt to carry out manipulations with the index monthly gas prices in Houston and other markets in the United States.

In addition to the company regulators suspect  traders carrying out their activity on the basis of the market of Houston. They were also suspected of the same offense.

USA regulators focused their attention on the fact that the actions of Total are illegal and unacceptable. According to USA laws, which regulate the activity on the stock exchanges, market manipulations are illegal regardless of whether they are carried out by enterprises, private or government officials. It is noteworthy that the United States is the first country which started to persecute the manipulation of the stock markets at the legislative level.

The supervisory authorities stressed that they will continue to keep a sharp lookout for  the major French oil company Total and other market participants, and anyone who would break the law, to try to carry out market manipulation, will be punished.

The investigation against Total and its activities in the market began in September 2015, reported by the Federal Energy Regulatory Commission of United States.

Over the past few years, regulatory authorities have been fined for such violations the following companies: JPMorgan Chase & Co (lost $ 285 million in fines in 2013), Barclays and BP (a fine of $ 28 million.). All of these companies do not agree with the charges and now are trying to challenge them.

Apart from the fact that Total was fined for $ 3.6 million  regulators also said that the trade restrictions were imposed on the activities of several Total agencies for two years.

Source: www.bloomberg.com

Other articles

  • DiDi taxi service is planning the IPO on the Hong Kong Stock Exchange in 2021
    News

    DiDi taxi service is planning the IPO on the Hong Kong Stock Exchange in 2021

    The taxi service of the international Chinese company DiDi Chuxing intends to conduct the initial public offering (IPO) on the Hong Kong Stock Exchange. As reported by Reuters on Tuesday, citing sources, this may happen in the first half of 2021. By the time of the IPO, the estimated value of DiDi will be more […]

  • IBM’s revenue exceeded forecasts due to the growth of the “cloud” business
    News

    IBM’s revenue exceeded forecasts due to the growth of the “cloud” business

    US International Business Machines Corp. (IBM) slightly increased its net profit in the third quarter of 2020, despite on the declining revenue in the context of the coronavirus pandemic, forcing businesses to delay implementation of projects to preserve capital. According to the press release of the company, Net income in July-September was $ 1.7 billion, […]

  • Intel will sell for $ 9 billion divisions to produce memory chips
    News

    Intel will sell for $ 9 billion divisions to produce memory chips

    Intel Corp. sells to South Korean the SK Hynix Inc. unit in the field of manufacture NAND memory chips and the storage devices for $ 9 billion. The agreement includes manufacturing operations for NAND chips SSD-drives, NAND components and semiconductor wafers, said in the press release from Intel. SK Hynix will also receive the plant […]

  • China’s economy grew by 4.9% in the third quarter
    News

    China’s economy grew by 4.9% in the third quarter

    According to the National Bureau of Statistics of China, the country’s GDP grew by 4.9% year on year in the third quarter. China’s economy is recovering the fastest in the world from the COVID-19 pandemic – GDP decline by closing factories and quarantine in the first quarter of the year already fully compensated, and the […]

  • Alibaba invests in the largest hypermarket operator in China
    News

    Alibaba invests in the largest hypermarket operator in China

    The largest Chinese Internet company Alibaba Group Holding Ltd. will acquire from Auchan Retail International shares of the largest Chinese hypermarket operator Sun Art Retail Group for $ 3.6 billion, according to the press release from Alibaba. “Alibaba is investing $ 28 billion ($ 3.6 billion) to acquire … 70.94% of Auchan Retail’s stake in […]

  • LVMH`s revenue for the nine months fell by 21%
    News

    LVMH`s revenue for the nine months fell by 21%

    Revenue of French LVMH Moet Hennessy – Louis Vuitton for the first three quarters of this year fell by 21% year on year and amounted to 30.348 billion euros, according to the company’s report. The strongest decline in revenue in this period was recorded in the section “selective retail trade” and “watches and jewelry” – […]

  • NASA has signed the contract with Nokia to launch 4G on the moon
    News

    NASA has signed the contract with Nokia to launch 4G on the moon

    NASA has provided to Nokia with $ 14.1 million to deploy 4G (LTE) network on the moon. The US space agency noted that telecommunications networks of this standard will be able to provide more reliable than radio signals, communication on the Earth’s satellite, where it is planned to build the lunar base by 2028. NASA […]

  • Ministry of Health: medication from COVID-19 are already being transported to Ukraine
    News

    Ministry of Health: medication from COVID-19 are already being transported to Ukraine

    Chief State Sanitary Doctor, Viktor Liashko, said that the drug “Remdesivir”, which was planned to treat patients from the coronavirus, have already been purchased, and the party is taken to Ukraine. He said the news in the interview with Radio Svoboda on Sunday, October 18. “And now it is being transported to the territory of […]

Read also

Major oil company Total was fined for $ 3.6 million
Analytics

2015 was the record year in terms of transactions in mergers and acquisitions

Every day there is a new information about the latest merger / acquisition among large enterprises. As a result of these major agreements, the price of which often amounts to billions of dollars, new company giants appeared in the world market. Moreover, agreements on mergers / acquisitions are active in all areas of business – […]

Next
Major oil company Total was fined for $ 3.6 million
News

Countries of the Baltic have moved to the economic sanctions against Belarus

Lithuania, Latvia and Estonia have refused to use the Belarusian electricity. This was reported by the Interfax news agency. According to the agency, the governments of the Baltic countries have developed a common methodology for the electricity trade. It means that electricity supplied to Lithuania, Latvia and Estonia should not be produced in Belarus. Imported […]

Next
Major oil company Total was fined for $ 3.6 million
News

The Cofco Corporation will launch a grain terminal in Ukraine

The Cofco Agri Ukraine Company, which belongs  to the Chinese Cofco Corporation is one of the largest global manufacturers and suppliers of agricultural products and foodstuffs, will officially launch the terminal in Mykolaiv sea port on May 19. This is reported by the “Interfax-Ukraine” with reference to the company’s message. This terminal is one of […]

Next
Major oil company Total was fined for $ 3.6 million
News

The Cargill suspends the sale of seeds, fertilizers and chemicals in Ukraine

The largest American agricultural company Cargill suspends the sale of seeds, fertilizers and chemicals in the Black Sea region, including Ukraine, Russia, Romania, Hungary, Bulgaria and Poland. According to the information of the “Interfax-Ukraine”, after a comprehensive review of its grain and oilseed business in the Central and Eastern Europe, the Cargill decided to stop […]

Next
Major oil company Total was fined for $ 3.6 million
News

Ukraine plans to sell the Odessa Port Factory with the discount

The State Property Fund (SPF) of Ukraine expects to announce the second tender for sale of “Odessa Port Plant” in late summer – early autumn. This was stated by Igor Bilous, head of the State Property Fund at a press conference in Kyiv on Tuesday. “We expect to start the second round at the end of […]

Next
Major oil company Total was fined for $ 3.6 million
News

The National Commission of state regulation of the financial services market

The National Commission, carrying out state regulation of the financial services market by its order №1467 agreed to increase participation by Allianz Holding eins GMBH (Austria) in ODO «Allianz Ukraine” (Kiev) to 99.999% by direct acquisition of 99.978% from its share capital.  As reported, at the beginning of this year, the National Commission, carrying out […]

Next
Major oil company Total was fined for $ 3.6 million
News

Oil giant Royal Dutch Shell PLC is going to fire nearly 3,000 employees worldwide

December, 14 2015, Shell announced that after they finish the merger with the British oil company BG Group PLC, they will fire  2,800 people. The company said in report that their plans are  to reduce the number of employees by 3%. Terminations will start in 2016. Earlier, Shell announced plans to cut the number of […]

Next
Major oil company Total was fined for $ 3.6 million
News

Ukrainian investor put in dead storage the plant in the EU

The Ukrainian “KVV group” put in dead storage its  Liepajas KVV metalurgs plant in Latvia because of the crisis in the steel industry and the failure of the negotiations with the Latvian government. “The management  of the ” KVV group”  forced to take this decision in view of the continuing long-term negative factors, that impede […]

Next
Major oil company Total was fined for $ 3.6 million
News

Groisman promised to create “entry point” for foreign investment  

In September 2016, the Ukrainian government will open an office, which is financially supported by private equity fund for support investment from abroad. It is about WNISEF (Western NIS Enterprise Fund), which was established in 1994 with a capital of $ 150 million, for the amount, which was paid by the US government. This kind […]

Next
Major oil company Total was fined for $ 3.6 million
Analytics

China Is the biggest Investor

The history of China’s statehood formation and development achieves several millennia, its nation has made a significant contribution into both material and spiritual culture of humanity throughout the world. Having in possession huge territories, essential labor and material resources and potentially large internal commerce, The Heavenly Empire has nearly all suppositions for creating integral, well-rounded […]

Next
Major oil company Total was fined for $ 3.6 million
News

“Gazprom” filed a lawsuit against the AMCU due to the fine of 86 billion UAH

According to the sources, “Gazprom”, JSC demands to annul the decision of the Antimonopoly Committee of Ukraine (AMCU) of the fine in the amount of 85.966 billion UAH through the Commercial Court of Kiev. The claim is registered in the court on April, 12. “Naftogaz of Ukraine” and “Ukrtransgaz” must be the third parties in […]

Next
Major oil company Total was fined for $ 3.6 million
News

KWS-Ukraine will build a seed plant in Kamianets-Podilskyi

KWS-Ukraine company begins a construction of a modern complex for seed conditioning in Kamianets-Podilskyi. “Philosophy of the KWS business is “in the region for the region”. That is why it is in principle for us the cultivation of corn seeds in the region of its realization”, – reported in the company. New capacity in the […]

Next
Major oil company Total was fined for $ 3.6 million
News

Odessa Oil-and-Fat Production Plant is going to be recognized a bankrupt

The Commercial Court of Odessa region initiated a bankruptcy proceeding of the Odessa oil-and-fat production Plant, one of the largest oil and fat enterprises of Ukraine. According to the information of the National Commission on Securities and Stock Market the application of instituting proceedings was filed  by Lenintal  Ltd. (Odessa region). The reason for initiation […]

Next
Major oil company Total was fined for $ 3.6 million
News

The Ukrainian startup Blynk launched a joint product with the electronics manufacturer SparkFun

Ukrainian company Blynk, which develops software for creating its own IoT-applications, announced a contract with a major manufacturer of Electronics – SparkFun. In collaboration was created the product SparkFun Blynk Board. Blynk also entered the start package of the SparkFun IoT Starter Kit with Blynk. The fact that the startup conducts negotiations with a major […]

Next
Major oil company Total was fined for $ 3.6 million
News

For the development of the Nika-Tera was invested 235 million UAH.

In the structure of total turnover in 2015 was dominated transshipment of grain crops – 55.3% (2.32 million tons). Total the terminal transshipped 4.2 million tons. Marine Terminal “Nika-Tera” handled 236 ships in 2015, overloaded 4.2 million tons of cargo, – reported AgroTimes. “The volume that we had planned to port transshipment in 2015, carried […]

Next
Major oil company Total was fined for $ 3.6 million
News

Business failure: despair or lesson?

Each company and the man himself admits, sometimes failing, seemingly mistakes. But if it is really a failure or a good experience for the development shows a wonderful book of Laurence G. Weinzimmer and  Jim McConoughey “The Wisdom of Failure”. 5 small stories from the book will help you to understand that the business mistakes […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com