The Week: City news - Interpublic probe ends

The long-running probe by US financial watchdogs into the accounting scandal at Interpublic has been concluded in a settlement that will cost the marcoms giant $12 million.

The agreement brings to an end a six-year investigation by the Securities & Exchange Commission into Interpublic's accounting imbalances, which were a result of the overbooking of revenue by McCann Erickson offices in Europe.