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Hewlett-Packard Fined for Bribing Russian Officials; U.S., EU Impose New Russian Sanctions

HeadlineSep 12, 2014

Hewlett-Packard has pleaded guilty to charges that former employees bribed officials at Russia’s top prosecutor’s office for a technology contract. In total, the firm has agreed to pay $108 million for bribing officials in Mexico, Poland and Russia -– that’s a tiny fraction of HP’s net revenue, which totaled $27.6 billion in the last quarter alone. The news came as the Obama administration announced it would implement new economic sanctions on Russia over its handling of Ukraine. A new round of European sanctions on Russia takes effect today.

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