Alcoa settles Alba lawsuit

US aluminium producer Alcoa is set to pay Bahrain’s state-controlled Aluminium Bahrain (Alba) $85m (£53m, €66m) to settle a lawsuit over alleged corruption. Alba alleged Alcoa overcharged it for raw materials over 12 years by more than $400m, with some of that money used to pay officials in Bahrain bribes. Alcoa contested the case and does not admit liability. However, the deal is thought to be the first resulting from an alleged bribery claim brought through the US courts by an overseas business and is considered likely to spark similar actions against US multinationals.