WHAT THE OTHER PAPERS SAY THIS MORNING September 3, 2009 FINANCIAL TIMES INTEL SEES WINDOWS OF OPPORTUNITYAn ageing line-up of PCs and the arrival of Windows 7 will cause companies to start spending again on computers next year, according to the head of the world’s largest chipmaker. The comments by Paul Otellini, chief executive of Intel, underscore growing optimism in the technology industry that next year will see a return [...]
Auditors win liability ruling July 30, 2009 Auditors have won a case determining the extent of their liabilities in the event of a Madoff-style fraud. Law lords threw out a negligence case against a City accountancy firm, for allegedly failing to spot fraud at Stone & Rolls, a trading firm which went under in the late 1990s. The ruling is a victory [...]
Auditors win liability ruling July 30, 2009 Auditors have won a case determining the extent of their liabilities in the event of a Madoff-style fraud. Law lords threw out a negligence case against a City accountancy firm, for allegedly failing to spot fraud at Stone & Rolls, a trading firm which went under in the late 1990s. The ruling is a victory [...]
CITY CAN BE THE CRUNCH CASE CAPITAL September 8, 2009 ANTHONY MATONPARTNER AT HAUSFELD & CO LLP SINCE the credit crunch started in the US in 2007, the subsequent banking crisis has spread across the globe. The UK’s legal profession may have suffered as a consequence, but we have also been presented with a golden opportunity to position London as the international venue of choice [...]
NOMURA PREPARING FOR OXFORD AND CAMBRIDGE VARSITY CLASH October 29, 2009 THE City’s rugby aficionados and former Oxbridge contingent are already gearing up for this year’s Varsity match, which is being sponsored for the second year running by Japanese bank Nomura. Nomura stepped in at the last minute to save the day after it rescued the European operations of failed bank Lehman Brothers, the event’s former [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 22, 2009 FINANCIAL TIMES GARTMORE ON BRINK OF £500M IPOGartmore, the fund management group equally owned by management and private equity group Hellman & Friedman, aims to register flotation plans with the UK’s Financial Services Authority as early as next week. The group has appointed Morgan Stanley and Citigroup to advise it on completing an initial public [...]
Banks are in the dock as litigation lawyers look for soft City targets November 9, 2009 LAUNCHING a lawsuit against a major bank has never been easy. As anyone who has been involved in heavyweight litigation knows, the process of bringing a claim of any kind is expensive, hazardous and distracting. Regardless of the merits, no bank is likely to roll over very easily when faced with legal action. In order [...]
SEC and Bank of America fail to get approval for settlement from US judge August 6, 2009 A US federal judge has refused to approve Monday’s settlement between the US Securities and Exchange Commission (SEC) and Bank of America (BoA) related to the acquisition of Merrill Lynch. Judge Jed Rakoff of the federal district court in Manhattan said it may be unfair to the public to accept the settlement, which would resolve [...]
MILLIONAIRE LEAVES THE LAP OF LUXURY TO GET BY ON 64 A WEEK October 14, 2009 CHANNEL 4-gazers might have been surprised last night by the sight of a familiar face popping up on the box: Pimlico Plumbers boss Charlie Mullins. Mullins, himself the subject of a classic rags-to-riches tale as a self-made business tycoon, was taking part in the channel’s popular “Secret Millionaire” show, for which he travelled to a [...]
Ex-AIG execs to pay $16.5m August 6, 2009 THE FORMER chief executive of AIG, Maurice “Hank” Greenberg has agreed to pay $15m (£9m) to settle government allegations that he cooked the books to inflate the stricken insurer’s earnings. AIG’s former chief financial officer Howard Smith has also agreed to pay $1.5m to settle Securities and Exchange Commission (SEC) charges relating to his and [...]