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The European Parliament has banned Huawei lobbyists from its buildings following a bribery investigation linked to promoting the company's trade interests. Belgian police conducted raids across multiple locations, arresting suspects involved in a scheme that allegedly included payments for political favors and lavish gifts. Huawei stated it takes the allegations seriously and maintains a zero-tolerance policy towards corruption.
Belgian prosecutors conducted 21 searches in a corruption investigation involving Huawei and up to 15 current and former Members of the European Parliament (MEPs). Allegations include corrupt acts disguised as commercial lobbying, with claims of excessive gifts and political remuneration. In response, the European Parliament has temporarily banned Huawei representatives from its premises, while calls for stronger ethics regulations continue following previous scandals.
Morgan Stanley has upgraded Galp Energia from Underweight to Equal-weight, adjusting the price target to €15.20 from €15.40. The stock, currently at $8.12, is near its 52-week low, reflecting concerns over its Namibian project and a modest financial outlook, with a projected average free cash flow yield of 6.8% from 2025 to 2027. Despite these challenges, the company has maintained dividend payments for 18 consecutive years, indicating long-term financial stability.
The European Parliament is embroiled in a corruption scandal involving Huawei, with allegations of bribery linked to political positions and lavish gifts. Belgian prosecutors are investigating incidents from 2021 to the present, leading to police raids and the sealing of offices associated with implicated parliamentary assistants. Huawei has stated it takes the allegations seriously and is committed to cooperating with the investigation.
Banco Santander, CaixaBank, and BBVA are collaborating to create a unified instant payment system in Europe, inspired by Spain's Bizum. This initiative aims to integrate various national payment systems, enhancing security and facilitating seamless transactions across borders. Users may soon benefit from this innovative solution, which promises to simplify both peer-to-peer and commercial payments.
The European Parliament has suspended multiple Huawei representatives amid a bribery investigation, which Belgian prosecutors believe has been ongoing since 2021. Allegations include bribing officials for political favors and providing excessive gifts. Huawei has stated its commitment to addressing the issue and maintaining a zero-tolerance policy towards corruption.
The European Parliament has barred Huawei lobbyists from its premises amid a corruption investigation involving allegations of bribery aimed at EU lawmakers. This decision follows the arrest of multiple individuals and extensive searches across Brussels and other regions, with suspicions dating back to 2021. Huawei has stated it takes the allegations seriously and plans to engage with investigators.
Belgian authorities have raided multiple locations, including Huawei's Brussels offices, as part of a corruption investigation involving allegations of bribery, money laundering, and document forgery aimed at influencing EU lawmakers. The European Parliament has confirmed its cooperation with the probe, while Huawei has stated its commitment to compliance and transparency. This investigation has drawn comparisons to the 2022 Qatargate scandal, highlighting ongoing concerns about ethics and lobbying practices within the EU Parliament.
The European Parliament has suspended access for Huawei representatives amid a corruption investigation involving the company, which allegedly bribed current and former MEPs to promote its interests. This precautionary measure follows police searches linked to the scandal, which reportedly involves around 15 MEPs and includes undeclared payments and lavish gifts. The case adds to a series of corruption issues facing the European Parliament.
Belgian police have conducted multiple raids as part of a corruption investigation linked to Huawei's lobbying efforts within the European Parliament since 2021. Several individuals, suspected of bribing current and former members to promote Huawei's interests, have been detained, with operations extending to Portugal and France. The investigation highlights allegations of discreet corruption practices, including excessive gifts and compensation for political positions, prompting a strong response from Huawei, which maintains a zero-tolerance policy towards corruption.
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