HSBC set to buy Nedbank in £3bn deal

first_img Tags: NULL Show Comments ▼ KCS-content More From Our Partners HSBC is poised to beat off competition from rival Standard Chartered to snap up a controlling stake in South African bank Nedbank this week for $4.4bn (£2.83bn).HSBC is understood to be on the verge of defeating emerging markets specialist Standard Chartered to acquire what may be the last big South African bank that regulators allow overseas suitors to buy.Anglo-South African insurer Old Mutual, which owns just over half of Nedbank, is thought to be trying to sell its stake to overhaul its business after the financial crisis, which hit its US and Bermuda activities.The group unveiled the sale of its US life business earlier this month for $350m and hopes to float its US asset management unit next year.An Old Mutual spokesman said: “We don’t comment on market rumours.”HSBC, which has investment banking operations in South Africa, is thought to have appointed investment bank Lazard to advise on the possible takeover.The group, which has described Asia as a key growth market in the next few years and Africa as a continent with potential, also declined to comment.“In this particular instance, we’ve got nothing to say,” an HSBC spokesman said.Nedbank has a substantial retail deposit base as a result of buying a number of building societies. HSBC set to buy Nedbank in £3bn deal Share whatsapp Sunday 22 August 2010 10:13 pm whatsapplast_img read more

Court ruling ends badly for Vodafone

first_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanUndo KCS-content Court ruling ends badly for Vodafone Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof India’s tax department has jurisdiction over tax bills in cross-border mergers, a court ruled yesterday, dismissing a petition by Vodafone and setting a precedent for foreign firms looking to buy into Indian companies.The Bombay High Court ruling came as foreign firms show renewed interest in acquiring Indian companies, lured by growth prospects in the world’s second-fastest growing major economy.Vodafone, fighting a tax bill in India from its 2007 purchase of Hutchison Whampoa’s mobile business in the country, had filed an appeal with the court in June challenging the tax department’s jurisdiction over the bill.After the court ruling, Vodafone said it remained confident that there was no tax to pay on the transaction. The company said it needed time to review the judgment and consider its next step that includes an appeal to the Supreme Court.“Vodafone is seeking legal advice to challenge this part of the judgment,” the FTSE 100 group said in a statement. The world’s largest telecommunications operator by revenue, which paid $11.1bn (£7.2bn) for the deal with Hutchison, has not said how much the authorities were seeking. Show Comments ▼center_img whatsapp whatsapp Share Wednesday 8 September 2010 8:03 pm Tags: NULLlast_img read more

Wal-Mart US managers in firing line over sales

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times WAL-MART Stores’ US management will be in the firing line at the company’s investor meeting this week, where Wall Street analysts will press for details on rescuing the retailer’s largest business.Sales at US Wal-Mart stores open at least a year have fallen in five straight quarters, hurt by competition from lower-priced dollar stores and an economy that has allowed some shoppers to move up to rivals such as Target.Bill Simon became chief executive of the US unit in June and is expected to outline how he and his management team can spur sales.“It is really important for them to show that they can get traffic in the stores, because that’s going to be the key to that stock,” said Sarah Henry, equity analyst at MFC Global Investment Management.Wal-Mart arguably shot itself in the foot as the US economy pulls out of recession, by cutting down on products in stores, then introducing “rollback” price cuts. Its shares are up about 1.9 per cent this year, well below the 13 per cent increase for the Standard & Poor’s Retail Index. Wal-Mart US managers in firing line over sales Show Comments ▼ More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Tags: NULLcenter_img KCS-content whatsapp whatsapp Sunday 10 October 2010 11:14 pm Sharelast_img read more

WHAT THE OTHER PAPERS SAY THIS MORNING

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Tags: NULL WHAT THE OTHER PAPERS SAY THIS MORNING KCS-content Show Comments ▼ Share whatsapp whatsapp Thursday 14 October 2010 9:45 pm FINANCIAL TIMESAIA CHIEF FAVOURS ORGANIC GROWTHAIA will address questions about its growth by increasing profitability and expanding organically rather than by pursuing acquisitions, according to the chief executive of the $30bn Asian life assurer about to list in Hong Kong. Mark Tucker told the Financial Times that AIA, which is being sold by cash-strapped US parent AIG, would always look at “tactical” deals, but that its core focus was on organic growth via new business and expanding its agency networks.GERMAN WARNING ON ‘AGGRESSIVE’ CHINESE RIVALSGerman companies have complained about state-owned Chinese rivals landing an increasing number of contracts in eastern Europe and central Asia by means of “price-dumping, aggressive financing and generous risk-guarantees” from Beijing, according to German industry’s Committee on Eastern European Economic Relations.GE SEES BIG CHANGE FROM ENERGY EFFICIENCYGeneral Electric, the company that was a pioneer of the electric light bulb, has warned that the industry is facing “dramatic change” that threatens the position of long-established market leaders as energy efficiency standards drive the adoption of new technologies. The traditional incandescent light bulb is set to be phased out in the US, starting in 2011.ESSAR PLANS $2BN INVESTMENT IN NIGERIAEssar, the Indian conglomerate, is planning an investment of $2bn or more in Nigerian power plants if Africa’s most populous nation sticks to reform plans designed to overcome crippling energy shortages, people familiar with the matter said.THE TIMESOFT RULES PUBGOERS ARE NOT OVERCHARGEDThe Office of Fair Trading has ruled that consumers have not been overcharged for beer despite pubs being forced into restrictive supply contracts. About one fifth of British pubs are owned by companies that require their licensees to buy beer directly from them, even though they may charge more than elsewhere.RIOT POLICE STORM ACROPOLIS TO BREAK STRIKEBaton-carrying police in riot gear stormed the Acropolis and fired teargas to break a strike by guards that closed Greece’s most famous historical site yesterday. Dozens of tourists watched as squads of police forced open the locked main gate to the site, sparking scuffles with protesters who, defying repeated orders to clear the entrance, clung on to the barrier.The Daily TelegraphPIMCO SELLS US TREASURIES AHEAD OF QE2Pimco, manager of the world’s largest bond fund, is selling US Treasuries in the expectation that a fresh helping of economic stimulus from the Federal Reserve will have little impact. The Federal Reserve bought $300bn of Treasuries last year under the QE policy and is expected to buy another round. GEORGE OSBORNE SAYS ‘INDEPENDENT’ OBR SHOULDN’T BE OPEN TO OPPOSITION PARTIES?The Office for Budget Responsibility (OBR), should not be available for cross-party use to test the oppostion’s economic policies, the chancellor has decreed.Robert Chote, chairman of the newly-created independent budget forecasting body, had indicated that he was in favour of extending the OBR’s services to rival parties.WALL STREET JOURNALBRAZIL, CHINA GROWTH LIFT CARREFOUR’S SALES French retailer Carrefour yesterday reported a 6.7 per cent rise in third-quarter sales, as growth in China and Brazil helped to offset continuing weakness in Europe. The company doubled projections for one-time charges in Brazil this year to €180m, related to tax litigation and inventory write-offs, in what was an “accumulation of problems over several years,” said finance director Pierre Bouchut. WARSAW STOCK EXCHANGE IPO COULD RAISE £259M The initial public offering for the Warsaw Stock Exchange could raise as much as 1.15bn zlotys (£259m) in what is expected to be Poland’s last major privatisation via the stock market this year. The government plans to float up to 64 per cent of the bourse’s equity. last_img read more

Elizabeth Arden beats hopes

first_img More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.com Show Comments ▼ Thursday 4 November 2010 10:17 pm whatsapp KCS-content whatsappcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorymoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBeach RaiderSee The Woman Bradley Walsh Is Dating At 61Beach Raider Share Cosmetics maker Elizabeth Arden posted higher-than-expected quarterly earnings, boosted by strong sales overseas and at duty-free shops, and raised its full-year sales goal yesterday. The company’s travel retail and distributor business, which includes duty-free shops, saw sales soar 31 per cent, due to strength in Asia and Latin America. Elizabeth Arden’s sales rose 14 per cent in Europe and six per cent in North America, the company’s biggest market. Elizabeth Arden said net earnings were $4.9m, or 17 cents per share, in its fiscal first quarter ended 30 September. Elizabeth Arden beats hopes Tags: NULLlast_img read more

City stars set for peerages

first_img THE CONSERVATIVE and Labour parties are set to name several City players in the latest lists of appointed peers. Stanley Fink, the Tory party treasurer and former chief executive of Man Group, is among those said to be on the list of the latest entrants to the House of Lords, which will be revealed on Saturday. Former BMI chairman Sir Michael Bishop is also thought to be on the list of up to 30 new Conservative peers, along with Andrew Feldman, the party co-chairman and a university friend of David Cameron. The Labour party has also submitted a list of up to 20 candidates for the Lords, who have been scrutinised by a selection committee. Labour’s list is thought to include Nigel Doughty, founder of private equity firm Doughty Hanson and owner of Nottingham Forest FC, and ready meal entrepreneur Sir Gulam Noon. KCS-content Thursday 18 November 2010 8:47 pm whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULL whatsapp Share City stars set for peerages Show Comments ▼last_img read more

North Korea adds fuel to global fears

first_img Tags: NULL KCS-content AS if a sovereign debt crisis were not enough, along comes North Korea, the roguest of rogue states, and suddenly it seems as if South East Asia could be on the brink of war. North Korea is the single most evil regime in the world, a despotic, idiotic and inhumane communist totalitarian state which has reduced its people to a state of almost complete misery. Nobody can predict Pyongyang next move, which is why there is now such nervousness; a weakened President Obama is unlikely to be able to do much so the ball is in China’s court. Whether or not this dispute is resolved in a sensible way – and the maniacs in North Korea suitably slapped down – will tell us a lot about Beijing’s maturity as an emerging superpower.Markets always underestimate geopolitical risk; economists, analysts and traders always seem to believe that rationality will prevail. If only. So yesterday’s events sent shivers down everybody’s spine, especially given that nobody believes Europe’s sovereign debt crisis to be over. The assumption instead is that it has just started and that the euro’s survival is now at risk. Ireland’s government is teetering; it remains unclear whether the deal that has been agreed – an €85bn bailout, with a plan of action to be unveiled today – will ever even see the light of day. At least Brian Cowen survived a motion of no confidence last night. The Irish public and opposition politicians may yet decide that they would rather play hardball with the country’s creditors – after all, their position is not as weak as some may think given that the EU is desperate to halt contagion to other nations.When the possibility of war in the Korean peninsula is added to this horrid mix – an event which, apart from its horrific impact on human lives, could dramatically derail the Asian growth engine – one understands immediately why everybody is suddenly so jittery. Geopolitics had already started rearing its ugly head recently, with various failed attempts at terror attacks and several high alerts in Germany and France. So far, none of this has hit the real economy – yesterday’s purchasing managers index from the Eurozone was strong – but with bond yields constantly rising in several European countries there is bound to be some sort of impact. Spain’s risk premia hit their most elevated levels since the creation of the euro yesterday; this won’t be good for growth. Arturo De Frias of Evolution Securities has crunched the numbers. Under his worst case scenario in Ireland, with unprecedented write-offs, RBS could lose up to £7bn; Santander and BBVA would suffer lesser hits from Portugal (just €4.5bn in the case of Santander under the Armageddon scenario). This wouldn’t be that bad. So the behaviour of banks across the continent – share prices have slumped – confirms that investors are pricing in a much wider disaster, with contagion to Spain. Bailing out Greece, Ireland and Portugal would cost €300bn; doing the same with Spain would add €350bn to the bill. While in theory the EU’s economy is big enough to shoulder such a sum, there is no way it would be palatable to German voters. We are living in an increasingly strange dual world: on the one hand, the global economy is continuing to recover, with growth in the US accelerating and Asia booming; on the other, there are huge sovereign and geopolitical dangers. Let us hope the former force swamps the [email protected] North Korea adds fuel to global fears whatsapp Show Comments ▼ whatsapp Tuesday 23 November 2010 9:12 pm More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Sharelast_img read more

ANALYST VIEWS: WHAT DID YOU MAKE OF COMPASS’ RESULTS ?

first_img KCS-content KEVIN LAPWOOD | SEYMOUR PIERCEThese results from Compass were comfortably above our expectations, although the increase in total dividend was a big surprise. The outlook is positive.NIGEL PARSON | EVOLUTION SECURITIESThe combination of strong cashflow and low debt has given Compass the firepower to accelerate earnings and increase the dividend.JULIAN CATER | COLLINS STEWARTWhile earnings are in line with our expectations, cash flow performance has been outstanding, around £100m better than we had forecast. Share Wednesday 24 November 2010 8:41 pm Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndo whatsappcenter_img Show Comments ▼ ANALYST VIEWS: WHAT DID YOU MAKE OF COMPASS’ RESULTS ? whatsapp More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comKiller drone ‘hunted down a human target’ without being told tonypost.com Tags: NULLlast_img read more

WHAT THE OTHER PAPERS SAY THIS MORNING

first_img WHAT THE OTHER PAPERS SAY THIS MORNING whatsapp whatsapp KCS-content Show Comments ▼center_img Share Monday 13 December 2010 9:31 pm FINANCIAL TIMESUS REGULATOR WIDENS STANFORD PROBE TO BROKERSUS securities regulators have broadened their investigation into the alleged $8bn Ponzi scheme run by Allen Stanford, the Texan billionaire, to include brokerage executives who invested their clients’ money in Stanford International Bank products. JPMORGAN CUTS BACK ON US SILVER FUTURESJPMorgan has quietly reduced a large position in the US silver futures market which had been at the centre of a controversy about its impact on global prices for the precious metal. The decision by JPMorgan was an attempt to deflect public criticism of the bank’s dealings in silver, a person familiar with the matter said. The person added that the bank’s position in silver would from now on be “materially smaller” than in the past.EDWARDS DROPS SALE FOR INITIAL PUBLIC OFFERINGEdwards, the vacuum technology supplier to the world’s biggest chipmakers, has abandoned plans for a sale of the company and will instead pursue an initial public offering next year. The company said it had pulled out of early discussions with unnamed potential bidders after private equity owners CCMP and Unitas Capital agreed to seek a flotation. BGC BEINGS APPEAL AGAINST RULING IN TULLETT PREBON POACHING CASEBGC, the interdealer broker, has begun its appeal to overturn part of a High Court ruling that found it had unlawfully conspired to hire staff from its rival Tullett Prebon. The High Court judge ruled in March that BGC and two of its executives had conspired to induce a breach of contract among Tullett’s interdealer brokers.THE TIMESMADOFF TO STAY AWAY FROM SON’S FUNERALBernard Madoff will not attend the funeral of his son Mark, who committed suicide on Saturday, the convicted fraudster’s lawyer said. Ira Sorkin said that Madoff, who is serving a 150 year jail sentence for running a $65bn Ponzi scheme, had come to the decision “out of consideration for his daughter in law and his grandchildren’s privacy”.ACCOUNTANTS PLAN TO RECRUIT STRAIGHT FROM SCHOOLBritain’s leading accountants plan to capitalise on rising university fees by increasing the number of students they hire directly from school. Deloitte said that it would create 100 places for secondary school leavers under a direct-entry scheme announced yesterday. PwC plans to create more places for school leavers.The Daily TelegraphROYAL BANK OF CANADA LOSES TRIPLE-A RATINGOne of Canada’s largest banks has lost its triple-A rating after the rapid growth of the lender’s investment banking business was questioned. Royal Bank of Canada was downgraded from Aaa to Aa1 yesterday by Moody’s, which warned that investors were becoming exposed to greater risks from the bank’s continued expansion in investment banking.RGI USED AS PERSONAL BANK, CLAIMS SHAREHOLDERA major shareholder in a Russian property company listed on Aim has claimed it is being used as a personal bank for the chairman and chief executive, and demanded an overhaul of the board. A string of allegations were made against RGI International in a stock exchange posting, including bribery, nepotism and excessive pay.THE WALL STREET JOURNALFRENCH CAR MAKERS SEE RECORD SALES Two of France’s largest car makers are set to post record sales for 2010, aided by strong growth in some emerging markets and a lower-than-expected drop in Europe. PSA Peugeot Citroën said Monday the company’s unit sales are likely to reach a record 3.6m vehicles this year. Renault said it expects to sell 2.6m cars this year.WAL-MART CLOSES RUSSIA OFFICE Wal-Mart is closing the Moscow office it opened just a few years ago, saying it no longer wants to build an operation in Russia from scratch, though it remains open to acquisition possibilities. The decision by the US retail giant comes after several Russian grocery chains were linked to Wal-Mart as a potential merger partner, but nothing materialised. Tags: NULLlast_img read more

WIKI FOUNDER WALKS FREE ON BAIL

first_img whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Share WIKI FOUNDER WALKS FREE ON BAIL whatsapp Thursday 16 December 2010 9:01 pm Show Comments ▼ KCS-content WIKILEAKS founder Julian Assange said he would “continue my work and continue to protest my innocence” after being granted bail in the High Court yesterday. Judges released him after supporters raised £240,000 and stipulated where he must live. Assange, 39, has vowed to continue operating his controversial website as he fights extradition to Sweden on sexual offence charges. Tags: NULLlast_img read more