PayPal to pay $7.7 mln in U.S. Treasury sanctions case

PayPal, the electronic payments firm, agreed to pay $7.7 million to settle charges by the U.S. Treasury Department that it violated numerous sanctions programs against countries that include Iran, Cuba and Sudan, Treasury said on Wednesday. PayPal, owned by EBay Inc , did not adequately screen its transactions for U.S

Read more

New online platform tracks corporate actions in tropical forests

By Chris Arsenault ROME (Thomson Reuters Foundation) – A group of large companies, mainly in the food sector, have promised to reduce their role in the destruction of the world’s forests, and a new online portal launched on Wednesday aims to hold them to their word. Some of the biggest names in global food production, processing and retailing, including Cargill, McDonalds, Marks & Spencer, Tesco and Walmart are among the companies, with a combined market capitalization of nearly $4 trillion, pledging to tackle deforestation in their supply chains.

Read more