Big oil will live on, but faces a harder future June 2, 2010 AS BP steps up its efforts to stem the oil leak in the Gulf of Mexico, the speculation surrounding the costs associated with the clean-up continues to increase. BP estimates that the cost will be roughly $4bn, while some analysts predict that the clean-up, along with related lawsuits, could be as high as $10bn. While [...]
Toyota to pay $16m US fine over failures April 19, 2010 Toyota yesterday agreed to pay a record $16.4m (£11bn) fine to US safety regulators to settle a complaint that the company delayed a recall over defective accelerator pedals, but denied violating US regulations. Toyota said it had made a “good faith” effort to handle safety problems but decided to pay the penalty — the maximum [...]
Goldman U-turn on Fabulous Fab April 20, 2010 GOLDMAN Sachs last night stripped the trader at the centre of an alleged securities fraud of his licence to operate in the City of London. Fabrice Tourre has been de-registered with the Financial Services Authority, meaning he will not be able to carry out any regulated work. The move comes just days after Goldman insisted [...]
Toyota’s troubles drag on February 16, 2010 CLASS action lawsuits are piling up against Toyota and could cost the carmaker billions of dollars in damages. Toyota owners are “charging gross negligence on the part of the automobile manufacturer,” following its decision this month to recall 8.5m cars. It is understood that 44 class action lawsuits have been filed and could amount to [...]
Toyota’s troubles drag on February 16, 2010 CLASS action lawsuits are piling up against Toyota and could cost the carmaker billions of dollars in damages. Toyota owners are “charging gross negligence on the part of the automobile manufacturer,” following its decision this month to recall 8.5m cars. It is understood that 44 class action lawsuits have been filed and could amount to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 20, 2010 FINANCIAL TIMES BOOK PUBLISHERS FEAR THREAT OF DIGITAL PIRACY Publishers have warned that the fight against illegal copying of digital books could impose a huge cost on the industry, raising fears of a new wave of online piracy. Gail Rebuck, chairman and chief executive of The Random House Group, part of Bertelsmann, said illegal copying [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 20, 2010 FINANCIAL TIMES BOOK PUBLISHERS FEAR THREAT OF DIGITAL PIRACY Publishers have warned that the fight against illegal copying of digital books could impose a huge cost on the industry, raising fears of a new wave of online piracy. Gail Rebuck, chairman and chief executive of The Random House Group, part of Bertelsmann, said illegal copying [...]
Nomura hit by lawsuit August 20, 2009 A LONDON headhunter is seeking “a commercially absurd sum” in a legal spat over how Nomura kept star bankers as part of its takeover of Lehman Brothers in Europe, the Japanese bank said yesterday. Documents filed at London’s High Court show there is a dispute between Nomura and Hogarth Davies Lloyd. “There is a dispute [...]
Nomura hit by lawsuit August 20, 2009 A LONDON headhunter is seeking “a commercially absurd sum” in a legal spat over how Nomura kept star bankers as part of its takeover of Lehman Brothers in Europe, the Japanese bank said yesterday. Documents filed at London’s High Court show there is a dispute between Nomura and Hogarth Davies Lloyd. “There is a dispute [...]
Blankfein: I had worst day April 26, 2010 GOLDMAN Sachs chief executive Lloyd Blankfein has said that the day the SEC civil fraud charges against his firm became public earlier this month was “one of the worst days in my professional life.” In written testimony released ahead of a Senate hearing a clearly affected Blankfein said: “We have to do a better job of [...]