WHAT THE OTHER PAPERS SAY THIS MORNING January 12, 2012 FINANCIAL TIMES SFO TARGETS CRIMINAL COMPANY DIVIDENDS The UK’s fraud investigator intends to confiscate shareholder dividends paid by companies convicted of criminal offences, after it won approval for a landmark court action. The Serious Fraud Office won a civil recovery order yesterday against the principal shareholder of a company that had admitted corruption. GROUPAMA TO [...]
Libya declared liberated October 24, 2011 JUBILANT Libyans celebrated yesterday as politicians declared the country “liberated” after 42 years of rule by Colonel Muammar Gaddafi. At a huge rally in Benghazi, where the uprising began eight months ago, Abdel Hafiz Ghoga, the National Transitional Council’s vice chairman said: “Declaration of Liberation. Raise your head high. You are a free Libyan.” Meanwhile [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 9, 2012 FINANCIAL TIMES RBS TO PRESS ON WITH BONUSES Royal Bank of Scotland is determined to press ahead with plans to pay out promised bonuses to investment bank boss John Hourican and other top staff, despite growing rhetoric from the government about excessive pay. RBS, which is 83 per cent owned by taxpayers, has long been [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 9, 2012 FINANCIAL TIMES RBS TO PRESS ON WITH BONUSES Royal Bank of Scotland is determined to press ahead with plans to pay out promised bonuses to investment bank boss John Hourican and other top staff, despite growing rhetoric from the government about excessive pay. RBS, which is 83 per cent owned by taxpayers, has long been [...]
FSA gives £1m fine for market abuse May 24, 2011 THE Financial Services Authority (FSA) has fined a man more than £1m for market abuse in the first use of a tough new penalty system. The FSA also took out a high court injunction against the individual – repeat offender Samuel Kahn – meaning he could face jail for contempt of court if he is [...]
FSA gives £1m fine for market abuse May 24, 2011 THE Financial Services Authority (FSA) has fined a man more than £1m for market abuse in the first use of a tough new penalty system. The FSA also took out a high court injunction against the individual – repeat offender Samuel Kahn – meaning he could face jail for contempt of court if he is [...]
Revenues down at Tullett as BGC lawsuit drags on May 12, 2011 INTERDEALER broker Tullett Prebon said “unsettled” markets and office closures pulled revenue down for the first four months of the year, adding that it was pushing ahead with legal action against rival BGC Partners. London-based Tullett said yesterday that trading this year to April was flat on last year, leading to a three per cent [...]
Allied Irish Bank haircut protested April 20, 2011 BONDHOLDERS of Allied Irish Banks yesterday launched a challenge against Irish government plans to cut 80 per cent of the bonds’ value. Ireland’s government won a High Court order last week to change the terms of €2.6bn (£2.3bn) worth of AIB’s subordinated bonds. Investors including Carlos Abadi, director of Abadi & Co Securities, plan to [...]
Allied Irish Bank haircut protested April 20, 2011 BONDHOLDERS of Allied Irish Banks yesterday launched a challenge against Irish government plans to cut 80 per cent of the bonds’ value. Ireland’s government won a High Court order last week to change the terms of €2.6bn (£2.3bn) worth of AIB’s subordinated bonds. Investors including Carlos Abadi, director of Abadi & Co Securities, plan to [...]
Fund managers head for the courts to cash in on divorces May 28, 2012 INVESTORS looking for the next big opportunity beyond the Brics have been offered a new place to put their money – Britain’s £100m a year divorce industry. Novitas has launched a divorce litigation fund to create an alternative lending source for people who need help to pay for divorce costs. It plans to raise £5m [...]