Barclays hit as New York initiates dark pool lawsuit against bank June 25, 2014 BARCLAYS was slapped with a lawsuit by a US state yesterday, with New York attorney general Eric Schneiderman accusing the bank of a “disturbing disregard for its investors”. The case concerns Barclays’ dark pool operation, which the attorney general says favours high-frequency traders, who have been given “systematic advantages” by the bank. Schneiderman also alleges [...]
Sony halves its stake in Olympus as accounting scandal is settled April 1, 2015 JAPANESE electronics giant Sony yesterday halved its stake in Olympus and is no longer its top shareholder, according to the camera and endoscope maker . Sony now owns five per cent of Olympus shares – worth ¥76bn (£430m) – compared with 10 per cent as of the end of September 2014, Olympus said in a [...]
Barclays Investment Bank poaches Goldman Sachs man Phil Shelley February 26, 2015 Barclays has poached Phil Shelley from Goldman Sachs to work in its investment arm in a senior UK banking role. In his job as managing director at Goldman, Shelley worked on IPOs last year including Saga and Virgin Active. He was also previously a joint-head of corporate broking at UBS. However, it is thought his [...]
Nike sued for copyright infringement over Air Jordan logo January 24, 2015 Air Jordan, Nike’s successful basketball brand, could be brought crashing back to earth by a lawsuit which claims its iconic logo is guilty of copyright infringement. The silhouetted image of Michael Jordan stretching for a slam dunk has been the most prominent logo of Nike's basketball merchandise which generated $3.2bn (£2.1bn) in revenue in [...]
Grapes and wrath: Why wine critic Robert Parker is skipping the famous Bordeaux tasting April 2, 2015 It’s tasting time in Bordeaux, when the wine world flocks to the banks of the Garonne to discover what the latest vintage has to offer. For the next few weeks critics and merchants will sniff, snort, swill and spit their way through hundreds of tastings before passing judgement on the wines of 2014. This [...]
Plain packaging sets scene for Irish court battle March 3, 2015 IRELAND has become the first country in the EU to pass a law requiring the plain packaging of cigarettes. The bill, which must be signed by the country’s president, makes Ireland only the second country in the world to remove branding from tobacco products. The packaging will be dark and plastered with warnings about the [...]
JP Morgan to pay settlement January 5, 2015 JP MORGAN Chase & Co has become the first bank to settle a US antitrust lawsuit in which investors accused 12 major banks of rigging prices in the $5 trillion-a-day foreign exchange market. The largest US bank will pay about $100m, a person familiar with the matter said. Lawyers for the bank and the investors [...]
Ireland passes plain packaging of tobacco law as UK anticipates legal battle March 3, 2015 The Republic of Ireland has become the first country in the EU to pass a law requiring the plain packaging of cigarettes. The bill, which must be signed by the country's President, makes Ireland only the second country in the world to remove branding from tobacco products. The packaging will be dark and plastered with [...]
This morning I rode to work in a Metrocab, London’s first electric taxi – is this black cabbies’ Uber-killer? April 8, 2015 Since taxi app Uber launched in London two years ago, the capital's traditional cabbies have developed something of an image problem. With various strikes and lawsuits on the go, the Licensed Taxi Drivers' Association (LTDA) has lost the sympathy of many of its passengers by appearing stubborn, protectionist and out of date. But now cabbies [...]
Fifa corruption arrests: How the FA, Fifa, Uefa, Arsene Wenger and the football world reacted to US and Swiss investigations May 27, 2015 The football world was brought to a standstill today after top Fifa officials were arrested by police on corruption charges in an early morning Zurich raid and others were called for questioning over the World Cup bidding process. A US Department of Justice suit indicted 14 people – including Fifa officials – on charges of corruption [...]