The Economist apologizes to Timchenko and Gunvor

Thanks God I've lived long enough to witness it! A newspaper taking responsability for some piece of so-called news they published.

And I'm not talking about the average local newspaper. The great, almighty and spotless Economist had to admit they contributed to spread rumours and unchecked information over a businessman, therefore harming his business (never good to read in the Economist you've done something wrong).

As far as I remember, this is the first time The Economist publish such a column about information they published. Might be wrong though.

Please find below a translation of an article from the prominent French speaking Geneva newspaper La Tribune de Genève:

“An agreement has been reached between the oil group Gunvor, whose operations are run from Geneva, its co-founder, Russian citizen Gennadi Timtchenko, and the British magazine “The Economist”.

Apologies will be published in the weekly’s next issue.

This agreement ends the conflict dating from 29 November 2008 and renders null and void any and all proceedings filed by Gennadi Timtchenko. On the date in question, the magazine had implied that Gunvor or Gennadi Timtchenko had received favors following payments made to Russian political leaders.”

Clear enough...