Wal-Mart opposes sex-bias case at class-action suit filed in the US March 29, 2011 SEVERAL US Supreme Court justices questioned yesterday whether female employees at Wal-Mart can proceed with the largest class-action sex-discrimination lawsuit in history that seeks billions of dollars. At issue in the case was whether a small group of women who began the lawsuit 10 years ago against the world’s largest retailer can represent a huge [...]
Apple sues Samsung over “slavishly” copying iPhone April 19, 2011 Apple Inc has sued Samsung Electronics claiming the South Korean firm’s Galaxy line of mobile phones and tablets “slavishly” copies the iPhone and iPad, according to court papers, a move analysts say is aimed at keeping its close rivals at bay. Apple is one participant in a web of litigation among phone makers and software [...]
Sony suffers after hackers strike again May 25, 2011 JUST one day after admitting a 260bn yen (£2bn) loss for the year, Japanese electronics giant Sony yesterday revealed a fresh online security breach – this time for 2,000 customers of its Sony Ericsson joint venture in Canada. Sony spokesperson Atsuo Omagari said that names, e-mail and encrypted passwords may have been stolen from the [...]
BP faces US shareholder revolt at AGM April 12, 2011 CALPERS the biggest US public pension fund, and its Florida equivalent have said they will vote against management ahead of BP’s annual general meeting tomorrow, over anger at the Gulf of Mexico oil spill. Calpers and the Florida State Board of Administration, which between them own almost 83m shares, or 0.4 per cent of BP’s [...]
Heritage Oil in share buyback April 26, 2011 UK oil explorer Heritage Oil announced a $100M share buyback, after a halving in its share price since January and as the explorer faces a $313m lawsuit from former partner Tullow Oil. Explorers rarely engage in buybacks because their business model usually involves spending their cash on finding new fields. “The recent share price performance [...]
Heritage Oil in share buyback April 26, 2011 UK oil explorer Heritage Oil announced a $100M share buyback, after a halving in its share price since January and as the explorer faces a $313m lawsuit from former partner Tullow Oil. Explorers rarely engage in buybacks because their business model usually involves spending their cash on finding new fields. “The recent share price performance [...]
Reckitt Benckiser to be sued for £89m over supply of Gaviscon April 17, 2011 THE health authorities are suing Reckitt Benckiser for £89m over the supply of its heartburn medicine Gaviscon, the company said yesterday. “We will be vigorously defending it [the lawsuit],” a Reckitt spokeswoman said. In October, Reckitt was fined £10.2m by the Office of Fair Trading after admitting abuse of its dominant position in Britain for [...]
BP launches law suits against Transocean and Halliburton April 21, 2011 BP has filed for damages totalling more than $80bn (£48bn) from Halliburton and Transocean a year after the Gulf of Mexico rig explosion that killed 11 workers and spewed millions of barrels of oil into the sea. Analysts said BP had little chance of winning the cases and was more likely trying to force the [...]
MALMAISON TAKES NO PRISONERS AS BANKER COUPLE TURN JAIL BAIT June 16, 2011 EVEN if you have never stayed at Oxford’s Malmaison hotel, you may know the former jail from its TV appearances in Porridge, Inspector Morse and The Italian Job. The boutique hotel – which until 1996 was known as Her Majesty’s Prison Oxford – is now a home from home for the bankers of Britain, who [...]
Eaton sued for gender bias April 5, 2011 Two New Jersey women filed a $150m (£92m) lawsuit accusing their former employer Eaton Corp of gender discrimination in pay and promotions. Yesterday’s complaint, filed in the US district court in Manhattan against Eaton and three male managers contends that the century-old maker of industrial products promotes a “culture of gender hostility”, especially in its [...]