Retailers’ relationships with suppliers go under the microscope in wake of Tesco profit overstatement May 29, 2015 The relationship between grocers and their suppliers will go under the microscope next year, as regulators attempt to stamp out the sort of behaviour that led to Tesco overstating its profits by £263m. The Financial Reporting Council, which monitors auditing and accountancy in the UK, said it would spend next year paying particular attention [...]
Uber rival Lyft valued at over £1.5bn March 12, 2015 TAXI APP Lyft has raised $530m (£353.6m) from a new funding round, softening the blow dealt by a US judge’s ruling against the ride-sharing service. Lyft is now valued at more than $2.5bn after the round led by Japanese e-commerce giant Rakuten closed this week. Rakuten now owns an 11.9 per cent stake in the [...]
Forget chauvinism: It’s good to be a woman in business June 29, 2015 Almost every week, another story portrays the City as a bastion of chauvinism, where women are underpaid and undervalued, dominated by macho males and discriminated against. In almost 20 years, I have never seen this happen. I have never been overlooked for a job, promotion or pay rise because I was a woman. My salary [...]
Uber rival Lyft valued over £1.5bn after £353m funding round March 12, 2015 Taxi app Lyft has raised $530m (£353.6m) from a new funding round, softening the blow dealt by a US judges’ ruling against the ride-sharing service. Lyft is now valued at more than $2.5bn (£1.67bn) after a funding round led by Japanese e-commerce giant Rakuten closed this week. Rakuten now owns an 11.9 [...]
HP seeking $5bn in High Court case against Autonomy bosses March 31, 2015 HP has filed a lawsuit in the High Court alleging fraudulent activity by the founder of Autonomy, the British company it bought in 2011. The US tech firm confirmed yesterday that it had launched a claim against Mike Lynch, as well as Autonomy’s former finance chief Sushovan Hussain, for damages of around $5.1bn (£3.4bn). The [...]
HP and Autonomy battle escalates as lawsuit against Mike Lynch and former Autonomy exec looms August 4, 2014 HP has filed court papers saying it has the backing of shareholders to sue Autonomy founder Mike Lynch and former chief financial officer Sushovan Hussain over alleged fraud when it bought the British tech company for £11bn. In the biggest indicator yet that HP intends to pursue legal action against the former Autonomy executives, the [...]
Why the “flash crash” whistleblower is in line for millions after implicating Navinder Singh Sarao April 23, 2015 The United States federal authorities could make it rain for the anonymous tipster who helped expose tracksuit wearing trader Navinder Singh Sarao who is accused of contributing to the "flash crash" five years ago. Under the US Commodity Futures Trading Commission's (CFTC) whistleblower program, created as part of the government's response to the financial crisis, whistleblowers receive between 10 [...]
Lego is trying to ban imports of competitor products to the US March 11, 2015 Lego is taking three competitor brands to court in the US, claiming their products infringe patents owned by the Danish company. The lawyers describe the toys as “strikingly and substantially similar” to Lego's according to the BBC, and they have filed lawsuit to the US International Trade Commission. The hope is to have the products [...]
Apple settles $840m ebook pricing lawsuit June 17, 2014 Apple has agreed an out-of-court settlement to end an $840m (£495m) legal dispute with consumers who argued they had overpaid for ebooks due to price-fixing between the iPhone maker and book publishers. The settlement follows another case last year that ruled Apple had breached anti-trust laws by agreeing higher ebook prices in its stores.
Amazon hit with lawsuit from US regulator over unauthorised app downloads by kids July 10, 2014 The Federal Trade Commission is suing Amazon for allowing kids to make in-app purchases without parental consent resulting in millions of dollars of charges being incurred by parents. The lawsuit is seeking to make Amazon refund the money and prevent the retailer from allowing any purchases without a password on its Kindle Fire devices. Many [...]