CASE STUDIES| NEWS FROM THE COURTS THIS WEEK March 1, 2011 BGC/TULLETT PREBON APPEAL FAILS The Court of Appeal has rejected an appeal by interdealer broker BGC over its poaching of staff from rival Tullett Prebon. When the CEO of Tullett, Tony Verrier, joined BGC from Tullett Prebon he tried to persuade 13 brokers to go with him. Ten joined but three stayed with Tullett. The [...]
CASE STUDIES| NEWS FROM THE COURTS THIS WEEK March 1, 2011 BGC/TULLETT PREBON APPEAL FAILS The Court of Appeal has rejected an appeal by interdealer broker BGC over its poaching of staff from rival Tullett Prebon. When the CEO of Tullett, Tony Verrier, joined BGC from Tullett Prebon he tried to persuade 13 brokers to go with him. Ten joined but three stayed with Tullett. The [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 1, 2011 FINANCIAL TIMES FOXCONN LOOKS TO AN AUTOMATED FUTURE WITH 1M ROBOTS BY 2013 Foxconn, the world’s largest contract electronics manufacturer by revenue, plans to have as many robots as workers in its China factories within three years, according to Terry Gou, chairman and chief executive. Foxconn, China’s biggest employer, produced Apple’s iPad and other electronic [...]
ECB steps up pressure on Italy as debt worries grow September 2, 2011 European Central Bank President Jean-Claude Trichet has told Italy to deliver on promises to control its strained public finances and reform its economy, adding to international pressure on weakened premier Silvio Berlusconi. ECB support for Italy is vital because the Frankfurt-based central bank has been buying Italian bonds in markets to keep yields low enough [...]
AIG sues BofA for $10bn over “massive fraud” August 8, 2011 The insurer American International Group Inc is suing Bank of America Corp to recover more than $10bn (£6.1bn) of losses from a “massive fraud” on mortgage debt, deepening the morass of litigation faced by the largest US bank. AIG, still largely owned by taxpayers after $182.3bn of government bailouts, is the latest of a growing [...]
Parliament recalls James Murdoch over hacking probe September 13, 2011 James Murdoch has been recalled to face parliament’s media select committee for further questioning over phone hacking at the News of the World after his former colleagues contradicted his repeated claims of innocence. James Murdoch, chairman of News Corp’s UK newspaper arm News International, spent almost three hours in front of the committee with his [...]
Banks challenge new FSA rules January 24, 2011 Major banks will today begin a High Court challenge over new rules on the way complaints about controversial payment protection insurance must be handled. The British Bankers’ Association is launching a judicial review against the Financial Services Authority and the Financial Ombudsman Service over regulations that came into force in December.
BP sues HMRC for mistaken tax payment February 27, 2011 BP has brought a lawsuit against the UK government to try and reclaim taxes it paid “by mistake” in 1999, City A.M. can confirm. The oil giant is claiming almost £300m in refunds, interest and compensation for paying the controversial 1.5 per cent stamp duty reserve tax on its purchase of ARCO in 1999. BP [...]
BP sues HMRC for mistaken tax payment February 27, 2011 BP has brought a lawsuit against the UK government to try and reclaim taxes it paid “by mistake” in 1999, City A.M. can confirm. The oil giant is claiming almost £300m in refunds, interest and compensation for paying the controversial 1.5 per cent stamp duty reserve tax on its purchase of ARCO in 1999. BP [...]
Claridges owner wins NAMA case February 3, 2011 AN IRISH property developer, whose assets include London luxury hotels Claridges, the Connaught and the Berkeley, yesterday won a legal challenge to stop the National Asset Management Agency (NAMA) acquiring his loans, a ruling that complicates the operations of the state-run agency, dubbed the “bad bank”. Ireland’s Supreme Court said yesterday a decision to acquire [...]