WHAT THE OTHER PAPERS SAY THIS MORNING February 15, 2011 FINANCIAL TIMES BARCLAYS FORCED TO ADAPT COCOS BONUS PLAN Barclays has been forced to adapt its plans to pay bonuses for staff with a new financial instrument that has been hailed by regulators as a key tool for rebuilding the capital strength of banks. Bob Diamond, the UK bank’s new chief executive, had hoped to [...]
Insurance companies all under one umbrella March 7, 2011 THOSE hoping for huge short term gains to be had from shorting companies with significant underwriting and re-insurance exposure to either the Middle East and north Africa (MENA), or to Christchurch may be disappointed. Listed companies are understandably cagey about just how much exposure they have to those areas, and syndicates with underwritten liability are [...]
Tories aided by Monaco hedge fund August 23, 2010 CONTROVERSIAL hedge fund manager Jon Wood handed the Conservative party a £500,000 donation two days before the general election in May. Wood, who runs the Monaco-based SRM Global investment firm, was the Tories’ second most generous corporate supporter during the campaign, data from the Electoral Commission revealed yesterday. News of the gift from one of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 24, 2011 FINANCIAL TIMES BARCLAYS AT CENTRE OF LIBOR INQUIRY Barclays is emerging as a key focus of the US and UK regulatory probe into alleged rigging of benchmark interbank lending rates that are the reference point for $350,000bn in financial products, people familiar with the investigation said. Investigators are probing whether communications between the bank’s traders [...]
Hill threat to Ladbrokes deal February 23, 2011 BOOKMAKER William Hill has launched legal action to disrupt merger talks between its joint-venture partner Playtech and close rival Ladbrokes. The company said it had secured an interim injunction against Playtech in an attempt to safeguard its legal rights. Ladbrokes and Playtech are exploring a possible £2.2bn merger. William Hill said that Playtech – which [...]
Hill threat to Ladbrokes deal February 23, 2011 BOOKMAKER William Hill has launched legal action to disrupt merger talks between its joint-venture partner Playtech and close rival Ladbrokes. The company said it had secured an interim injunction against Playtech in an attempt to safeguard its legal rights. Ladbrokes and Playtech are exploring a possible £2.2bn merger. William Hill said that Playtech – which [...]
FIA’s ban on Briatore was illegal, says high court January 5, 2010 MOTORSPORT chiefs were bracing themselves for another legal battle last night after their decision to hand former Renault Formula One boss Flavio Briatore a lifetime ban was deemed illegal by a French court. The Italian was banned by the sport’s governing body, the FIA, in October for his part in Nelson Piquet Jnr’s deliberate crash [...]
LLPs are not as safe as you might think September 28, 2010 THE LIMITED Liability Partnership vehicle is now a decade old, but its uptake has reportedly surged amid economic hard times. Members of insolvent LLPs are certainly better off than their counterparts in insolvent partnerships, who must routinely dig into their own pockets to meet creditors’ claims. This summer, though, saw the first high-profile collapse of [...]
CITY MOVES | WHO’S SWITCHING JOBS February 15, 2011 Barclays Sally Bott has joined the bank as group human resources director and member of the executive committee. Bott will start her role in April, replacing Cathy Turner. She joins from BP, where she was HR director, and has also recently served as a non-exec board member at UBS. Before this, she was managing director [...]
Jake gets deja vu March 31, 2011 FILM SOURCE CODE Cert: 12A EVER wondered what it would be like to wake up in someone else’s body and live the last eight minutes of their life over and over again? Probably not, but that’s exactly what happens to Captain Colter Stevens (Jake Gyllenhal), in this suspenseful action thriller. The “Source Code” of the [...]