In brief

Boy Scouts lose the support of Caterpillar

Updated: 2013-06-13T20:52:13Z

Scouts lose support

Caterpillar said it will no longer give money to the Boy Scouts of America because the organization doesn’t allow homosexuals to serve as adult leaders.

Caterpillar spokeswoman Rachel Potts said the Caterpillar Foundation made the decision while reviewing the groups it supports.

She called the Boy Scouts’ policy barring homosexual adults from serving as Scout leaders discriminatory. She said that policy didn’t square with the heavy-equipment maker’s anti-discrimination policies.

Other companies such as United Parcel Service and Intel stopped supporting the Scouts well before the recent decision.

Revlon to pay fine

Revlon, the cosmetics maker controlled by financier Ronald Perelman, will pay $850,000 to resolve U.S. regulatory claims that the company misled shareholders during a “going private transaction.”

Revlon engaged in “ring fencing” that deprived independent board members of information that the proposed transaction had been deemed inadequate by a third party, the Securities and Exchange Commission said.

French CEO in trouble

France Telecom’s board will meet next week to discuss the consequences of chief executive officer Stephane Richard’s fraud charge in an inquiry linked to when he was chief of staff for then finance minister Christine Lagarde.

The board will gather early next week to discuss whether Richard should remain CEO, the company said.

| Star news services

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