Ex-Dresdner banker: firm relied on us January 26, 2012 A FORMER manager at Dresdner Kleinwort investment bank has told a court he deserved a €600,000 (£501,171) bonus because he had stayed with the bank in 2008 and helped steer it through the meltdown in the markets. Desmond McNamara, the first banker to take the stand in the trial over €50m of retention bonuses, said [...]
FTSE falls as market shows caution over further economic slowdown August 13, 2012 BRITAIN’S top shares fell in thin volume yesterday while investors were unnerved by signs the global economic slowdown is deepening and Europe’s response to its debt crisis may face political hurdles. Cyclical mining and oil & gas stocks weighed after data showed Japan’s economy expanded at half the pace expected in the second quarter and [...]
Battersea Power Station folds December 12, 2011 Battersea Power Station was put into administration yesterday after its owner failed to repay it creditors £324m of debt. Irish developer Real Estate Opportunities had been seeking a new investor to repay the debts and fund a £5.5bn regeneration scheme. A High Court ruling yesterday confirmed Ernst & Young as administrators a move set to [...]
Battersea Power Station folds December 12, 2011 Battersea Power Station was put into administration yesterday after its owner failed to repay it creditors £324m of debt. Irish developer Real Estate Opportunities had been seeking a new investor to repay the debts and fund a £5.5bn regeneration scheme. A High Court ruling yesterday confirmed Ernst & Young as administrators a move set to [...]
Squatters stay on at UBS amid legal deadlock November 28, 2011 PROTESTERS who have taken over a disused UBS building in the City could cling on for several more weeks after their case was adjourned in the High Court. Yesterday the so-called Bank of Ideas challenged the possession order, issued by UBS subsidiary Sun Street Properties, at a preliminary hearing. Activists, who represented themselves in court, [...]
BAT challenges plain pack cigarette laws December 1, 2011 British American Tobacco has become the second tobacco giant to launch legal action against Australian laws forcing tobacco products to be sold in plain packaging from next year, following the lead of Philip Morris. The laws, cleared by parliament, are being watched closely by governments considering similar moves in Europe, Canada and New Zealand. They [...]
Jobs fear cuts short protest January 22, 2012 THE protesters entered quickly and quietly in trademark style. They left with similar speed, however, when they realised their takeover of a City office block – owned by Berkeley Homes – risked adding to the ranks of the poor, rather than helping them. The takeover of Roman House in the Barbican was the shortest of the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 23, 2012 FINANCIAL TIMES LONDON STOCK EXCHANGE DRAWS FIRE OVER BORSA SYNERGIES The LSE’s takeover of the Milan bourse five years ago “has not fulfilled expectations either in Italy or London” in terms of stimulating cross-border capital flows or increased investment in Italian companies, the Italian securities regulator has claimed. QUINN CASE THROWS LIGHT ON IRISH BANKING [...]
Reform, not a bailout, will save Italy June 20, 2012 WITH Greece on life support from the European Union and Spain squirming in the financial vice grip of its insolvent banks, talk of an Italian bailout is nigh. Without a growing economy to generate wealth, Italy is having a hard time convincing current and prospective bondholders that it can pay its debts. But throwing money [...]
Being a company director is now a high risk gamble January 31, 2012 WITH the debate on executive pay raging, the wider question that everyone should be asking is: Why would anyone want to be a director in the first place? Over time, directors’ duties have been aggressively extended and however well they do their job, directors are at risk of criminal and other serious liabilities quite apart [...]