When the world gets closer.

We help you see farther.

Sign up to our expressly international daily newsletter.

Economy

Fake News: A Threat To Democracy, But Also To Big Business

Phony press releases are a big thorn in the sides of many multinational companies. These big shots may dominate the stock market, but they're struggling to keep the fake news out of prestigious papers

A man walking past a Nikkei stock index in Tokyo, Japan.
A man walking past a Nikkei stock index in Tokyo, Japan.
Laurence Boisseau

PARIS — It was a first in France when, in 2016, the construction company Vinci was targeted by a fake rumor claiming their financial director had been fired and major accounting errors had been committed. Yet many similar incidents had already occured abroad. In the United States, for instance, corporations like Bank of America, General Electric, Pfizer, Intel, Shell, Chevron and. Google had all been victims of fake press release scams. In Europe, Ryanair, the EIB (Europe Investment Bank) and G4S, a British group specialized in security services, have also been subjected to this type of fraud.

These hoaxes haven't died down. On April 1 2021, a phony press release claimed that the Portuguese oil group Galp was giving up its involvement in northern Mozambique to pursue a "100% sustainable future." In 2019, BlackRock and its leader Larry Fink were also victims of identity fraud. A false letter, supposedly written by the asset manager, stated he would sell his shares to companies that would not meet the targets of the Paris Climate Agreement. This simple email managed to fool several leading media outlets, including the Financial Times.

Keep reading... Show less
You've reached your monthly limit of free articles.
To read the full article, please subscribe.
Get unlimited access. Support Worldcrunch's unique mission:
  • Exclusive coverage from the world's top sources, in English for the first time.
  • Stories from the best international journalists.
  • Insights from the widest range of perspectives, languages and countries
Already a subscriber? Log in

When the world gets closer, we help you see farther

Sign up to our expressly international daily newsletter!

Two Ukrainian soldiers at a military base on the outskirts of the separatist region of Donetsk

Lisa Berdet, Lila Paulou, Anne-Sophie Goninet and Bertrand Hauger

👋 Halito!*

Welcome to Wednesday, where the first war crimes trial against a Russian soldier since Moscow’s invasion of Ukraine gets underway in Kyiv, Kim Jong-un slams North Korean officials’ response to the coronavirus outbreak and Mexico’s National Registry of Missing People reaches a grim milestone. Meanwhile, Ukrainian news outlet Livy Bereg looks at the rise of ethnic separatism across Russia’s federal regions.

[*Choctaw, Native American]

Keep reading... Show less

When the world gets closer, we help you see farther

Sign up to our expressly international daily newsletter!
You've reached your monthly limit of free articles.
To read the full article, please subscribe.
Get unlimited access. Support Worldcrunch's unique mission:
  • Exclusive coverage from the world's top sources, in English for the first time.
  • Stories from the best international journalists.
  • Insights from the widest range of perspectives, languages and countries
Already a subscriber? Log in
THE LATEST
FOCUS
TRENDING TOPICS

Central to the tragic absurdity of this war is the question of language. Vladimir Putin has repeated that protecting ethnic Russians and the Russian-speaking populations of Ukraine was a driving motivation for his invasion.

Yet one month on, a quick look at the map shows that many of the worst-hit cities are those where Russian is the predominant language: Kharkiv, Odesa, Kherson.

Watch Video Show less
MOST READ