Commerzbank bonus breach appeal refused May 30, 2012 GERMAN lender Commerzbank came under fresh attack from a High Court judge yesterday as it failed to win the right to appeal against an order to pay out €52m (£41.6m) in bonuses to its former City staff. Mr Justice Owen slapped an interest charge on the unpaid bonuses for 2008 – cut during the financial crisis [...]
The business case for a referendum on EU membership January 9, 2013 IN ALL likelihood, David Cameron will soon commit to holding an in-out referendum on Britain’s EU membership. Unsurprisingly, this has provoked a campaign against giving people a say on who ultimately governs us. There are two arguments. First, that “now is not the right time”, because speculation about the possibility of a referendum would create [...]
Supreme Court rules in favour of London property aristocrats October 10, 2012 THE SUPREME Court yesterday ruled in favour of a controversial appeal by two London landlords, protecting their estates against a loophole that would have allowed commercial tenants the right to buy freeholds to properties that were once houses. The landmark ruling draws a line under a long-running battle by the Day Estate, which owns swathes [...]
Why breaking the banking consensus wouldn’t be the end of the world December 11, 2012 FORECASTS of the end of the world have an even worse track record than economic predictions. Followers of the Mayan calendar believe it will all come to an end next week. But we have been here before. In 1956, an American group led by a suburban housewife believed a catastrophic flood would destroy the world [...]
Barclays defends itself in key interest swap misselling suit October 24, 2012 BARCLAYS was yesterday gearing up to face down interest rate mis-selling claims, with the Guardian Care Homes (GCH) suit set to come before a judge on Monday. The pre-trial hearing will see GCH present its accusations at the Commercial Court, while Barclays will defend itself. The judge will then decide which, if any, of the claims [...]
Essar files writ over Indian tax repayments May 8, 2012 INDIA-FOCUSED energy company Essar Energy yesterday filed a writ in the Gujarat high court to seek more information on how it should repay taxes owed. In January the company was told it could not defer the repayment of sales tax the Indian government claimed it was owed. Essar unsuccessfully appealed to the country’s supreme court. [...]
Essar files writ over Indian tax repayments May 8, 2012 INDIA-FOCUSED energy company Essar Energy yesterday filed a writ in the Gujarat high court to seek more information on how it should repay taxes owed. In January the company was told it could not defer the repayment of sales tax the Indian government claimed it was owed. Essar unsuccessfully appealed to the country’s supreme court. [...]
What the other papers say this morning December 20, 2012 FINANCIAL TIMES Trafigura earns $1bn twice in a row Trafigura, the commodities trader, earned about $1bn for the second year running in 2012, indicating that the profitability of the world’s top houses that dominate raw materials has remained high in spite of slower economic growth in China. The privately held company, based in Geneva and [...]
Browne urges firms to end homophobia May 30, 2012 FORMER BP boss Lord Browne has warned that businesses will keep losing talented staff unless they crack down on homophobia. The crossbench peer said the business world “remains more intolerant of homosexuality than other worlds such as the legal profession” and urged bosses to stamp out intolerance. Browne, who stepped down from the oil giant [...]
Breathe new life into your fitness routine January 28, 2013 For the core queen: If you’re one of those people who has left a traditional Pilates class wondering what all the fuss is about, you might like Pop Pilates. Dubbed the “super intense, hard-core version of Pilates”, Pop Pilates sees you performing the traditional bridge with weights; a plank on a Swiss ball and dumbbells [...]