Money News - In Brief

Mergers, Acquisitions and Financial Results

- US authorities are investigating allegations that executives working for software group Oracle paid African officials in violation of anti-bribery laws. Agents at the Federal Bureau of Investigation (FBI) and the justice department had been investigating the claims for at least a year, the Wall Street Journal reported. US financial watchdog the securities and exchange commission (SEC) is also looking at possible civil violations. The allegations are understood to centre on software sales to government agencies in western and central Africa. Law enforcement agencies are investigating whether Oracle or people working for the company made payments to government officials to secure contracts. Oracle did not return calls for comment.