SAP’s co-chief apologises to Oracle for improperly downloading software files November 15, 2010 A CO-CHIEF executive of German software maker SAP yesterday apologized to rival Oracle for improperly downloading thousands of software files, but that didn’t bring the two companies closer to agreement on financial reparations. “I am sorry,” SAP co-chief executive officer Bill McDermott said in testimony yesterday as SAP kicked off its defense in a high [...]
Former Dubai Islamic Bank execs in fraud trial October 24, 2010 A DUBAI court restarted a fraud trial against two former executives of Dubai Islamic Bank (DIB) yesterday having changed their status to government officials, making a stricter punishment more likely. The two, and five other suspects, are accused of defrauding DIB, in which the Dubai government owns a 30 per cent stake, of 1.8bn dirhams [...]
EasyJet locked in branding dispute with founder Stelios June 15, 2010 EASYJET launched its defence yesterday in front of a High Court judge in a branding dispute brought forward by founder Sir Stelios Haji-Ioannou. His lawyers have argued that the airline is no longer a low-cost carrier because of the added costs to passengers. Geoffrey Hobbs QC, who is representing easyJet in court, delivered his opening [...]
EasyJet locked in branding dispute with founder Stelios June 15, 2010 EASYJET launched its defence yesterday in front of a High Court judge in a branding dispute brought forward by founder Sir Stelios Haji-Ioannou. His lawyers have argued that the airline is no longer a low-cost carrier because of the added costs to passengers. Geoffrey Hobbs QC, who is representing easyJet in court, delivered his opening [...]
Ryanair boss O’Leary forced into apology July 15, 2010 EASYJET’S Sir Stelios Haji-Ioannou yesterday achieved the nigh-on unthinkable as the High Court forced Ryanair boss Michael O’Leary into a grovelling apology over a mischievous advertising campaign. Stelios launched a suit against his arch-rival at the start of the year over the ads, which featured a caricature of the easyJet founder as Pinocchio and claimed [...]
Ryanair boss O’Leary forced into apology July 15, 2010 EASYJET’S Sir Stelios Haji-Ioannou yesterday achieved the nigh-on unthinkable as the High Court forced Ryanair boss Michael O’Leary into a grovelling apology over a mischievous advertising campaign. Stelios launched a suit against his arch-rival at the start of the year over the ads, which featured a caricature of the easyJet founder as Pinocchio and claimed [...]
Court drama over EMI deal October 26, 2010 CITIGROUP banker David Wormsley yesterday testified that he could not remember specifics of any of the phone calls that are at the heart of a civil fraud trial over Terra Firma private equity chief Guy Hands’s $6.4bn (£4.2bn) purchase of EMI in 2007. In the first full day of court battle between the two former [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 7, 2010 FINANCIAL TIMES ENERGY-FOCUSED HEDGE FUNDS FEEL HEAT OF MARKET VOLATILITY Hedge funds focused on energy markets have suffered a rocky start to the year, hit by volatile commodity prices and the Gulf of Mexico oil spill disaster. Many funds have been left nursing double-digit percentage losses over the first six months of the year. The [...]
More Britons want pre-nups October 10, 2010 THE NUMBER of young Britons seeking pre-nuptials has risen as lawmakers are urging the courts and the government to decide on whether to make the pre-marriage contracts legally binding. A recent poll of 1,000 people across the country found that nearly half of all 18-24 year olds would consider taking out a pre-nuptial agreement. The [...]
FSA fines ex Sibir chief for market abuse July 6, 2010 A DAMAGING corporate ruse was finally rumbled yesterday after the City regulator slapped a £350,000 fine on Henry Cameron, the former chief executive of oil company Sibir Energy. Last year, Sibir was embroiled in controversy over debts owed to the company by Russian tycoon Chalva Tchigirinski, one of its major shareholders. Sibir informed the market [...]