Smashing Windows Phones August 29, 2012 AS THE dust settles following the explosive legal case between Apple and Samsung, in which the Korean firm was ordered to pay a minimum of $1bn for patent infringement, an unlikely third party is emerging as one of the potential winners. Microsoft has invested billions in its Windows Phone software, to some critical acclaim, but [...]
Bank shares get bashed but aren’t necessarily mis-sold June 28, 2012 BUY when there’s blood in the streets, goes the old saying. So was yesterday a good day to be buying UK bank shares? The growing outrage over the Libor scandal saw Barclays plunge 18 per cent before pulling back slightly, and RBS was also down more than 11 per cent, although HSBC and Lloyds Banking [...]
What the other papers say this morning September 2, 2012 FINANCIAL TIMES CIC sells bulk of its BlackRock stake China Investment Corp has sold most of its stake in BlackRock, the world’s largest asset manager, as part of a wider strategy by the sovereign wealth to cut its holdings in global financial institutions. CIC bought just under 3 per cent of BlackRock’s shares, worth about [...]
US Healthcare Locums suit ends June 20, 2012 Shares in beleaguered nursing and social services group Healthcare Locums (HCL) climbed as much as 20 per cent yesterday after the company said that a US lawsuit against it had been dropped. HCL was being sued in the US by an outfit called Permian Master Fund. The firm’s shares pared early gains yesterday to close [...]
Settlement in Madoff-related suit June 24, 2012 Money manager Ezra Merkin has agreed to pay $410m (£330m) to settle a lawsuit brought by the New York attorney general that accused Merkin of steering client money to Ponzi schemer Bernard Madoff, a person familiar with the settlement said yesterday. Justice Richard Lowe of New York state court signed off on the settlement on [...]
Visa boosted by increase in card spending July 25, 2012 CREDIT and debit card network Visa last night announced strong income growth as increasing numbers of people across the globe pay for goods using plastic. Adjusted net income rose 10 per cent to $1.1bn (£700m) for the third quarter, ahead of Wall Street expectations. Shares in the firm were up 1.5 per cent in after-hours trading. But [...]
Knight Capital could sue over Facebook loss July 18, 2012 THE TRAIL of losses and lawsuits stemming from Facebook’s botched float in May got longer yesterday, as one of the market-makers on the initial public offering said it was considering legal action to recoup its losses. Knight Capital, one of four market-makers on the £10bn float, revealed its plans after its quarterly earnings plunged 81 [...]
Barclays’ Del Missier to face MPs alongside regulators July 11, 2012 FORMER Barclays operations chief Jerry del Missier will appear in front of the Treasury select committee on Monday afternoon, it was announced yesterday. He quit the firm last Monday after just 11 days in the job, having taken responsibility for his role in the Libor-fixing scandal that saw his long-term colleague Bob Diamond also resign [...]
Spain’s ruling politicians call 24 witnesses to testify over Bankia July 10, 2012 SPAIN’S ruling People’s Party has asked 24 politicians and former Bankia executives including ex-chairman Rodrigo Rato to appear before parliament this month to explain problems leading up to the troubled lender’s state rescue. Bankia is at the heart of a crisis that could push Spain to ask for a bailout. It has asked for a [...]
THE TIPSTER | Thomas Cook hoping to book profits July 30, 2012 EMBATTLED shareholders in Thomas Cook will be hoping that the poor weather and the prospect of the London Olympics will have driven more people to book holidays in sunnier climes. The Arab Spring might have moved on from Tunisia and Egypt, but the firm might still see some weak trading, as people stay away from [...]