News Summary: Financials rate low on transparency

Published July 10, 2012 7:09pm ET



LET’S BE CLEAR: Financial companies tend to be the worst while mining, oil and gas sector firms rank among the best at disclosing information on revenue, taxes and community contributions, an anti-corruption watchdog says.

THE LEADER: Norway’s Statoil topped the list of 105 of the world’s publicly-traded companies as the most transparent with a score of 8.3 out of 10 after researchers found it “discloses significant information about its anti-corruption programs, subsidiaries, taxes and profits across its 37 countries of operations.”

THE LAGGARDS: The Bank of China scored the worst with a 1.1 rating. The group Transparency International says the 24 financial companies in the report, 13 of which disclosed no data on foreign operations, scored an average of 4.2.