China bars GlaxoSmithKline finance director Steve Nechelput from leaving country amid bribery investigations

GlaxoSmithKline offices in London.

The executive, Steve Nechelput, has not been questioned or arrested and is free to travel within China, the British company said in a statement. It said it had been aware of the travel restrictions since the end of June. Nechelput continues to work in his role as finance director for the company’s China unit. Chinese police announced this week they have detained four GSK employees on suspicion of paying bribes to doctors, hospitals and others to encourage them to prescribe the company’s medications. China pursues Glaxo for bribery Police say the employees funneled as much as 3 billion yuan ($490 million) through travel agencies and consulting firms to hide the source of bribes, according to Chinese news reports.

German finance minister visits Greece as austerity measures usher in job cuts

Municipality employees demonstrate in front of the Greek Parliament during a vote on more austerity measures.

The forum comes as production expands across most of the region. For years now Latin America has been a hotbed for emerging talent, and many of its countries have produced a steady output of successful local films, said Garcia. But its the combination of the growing appetite in the consumer market for cinema as evidenced by the rising screen count and the improving production resources/infrastructure that make Latin America ripe for a film finance forum, he added. Weve seen a comparable explosion for major music (e.g. Lollapalooza Chile) and sports (e.g.

Finance set to surpass tech as most-profitable U.S. industry

financial services companies in the S&P 500 index are expected to report that they earned aggregate profits of $49 billion in the second quarter. That’s almost 20% of the $247 billion in quarterly earnings expected from the S&P 500 companies as a whole. By comparison, the tech sector is expected to report earnings of $41.5 billion, or 16.7% of the quarterly total. For all of 2013, the finance sector is expected to post profits of $198.5 billion, or just over 19% of the total, while tech companies are expected to produce $183.1 billion, or just under 18%. That would be a reversal from 2012, when the technology sector contributed 19% of the total annual earnings of the S&P 500, while financial services produced 18%.

Film Finance Forum Latin America Lines Up Panelists

Cine-Sud Boards ‘Circus,’ ‘Parable’

Many Greeks believe the private sector has suffered a disproportionate amount during the crisis in order not to shed public sector jobs. On Tuesday, Greek unions called the country’s fourth general strike of the year so far, bringing many public services to a halt. At least 16,000 protesters joined a peaceful march and protest held to coincide with the strike, Athens police said. Greece, the first country to receive a European Union bailout, in May 2010, is struggling to bring its huge public debt under control.

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