Business

WASHINGTON—Smith & Nephew Inc. has entered into a deferred prosecution agreement with the Department of Justice to resolve improper payments by the company and certain affiliates in violation of the Foreign Corrupt Practices Act (FCPA), the Department of Justice announced today. The matter is part of an investigation into bribery by medical device companies of physicians employed by government institutions.

The much-awaited Facebook IPO, and probably the most hyped too, could take place as early as Wednesday. The world's No.1 social network site is looking to raise $10 billion by selling shares in an initial public offering (IPO), which will put the market value of the firm between $75 billion and $100 billion.