US regulators sue traders in new blitz on oil price manipulation May 24, 2011 US regulators launched one of the biggest ever crackdowns on oil price manipulation yesterday, suing two well-known traders and two trading firms owned by Norwegian billionaire John Fredriksen for allegedly making $50m by squeezing markets in 2008. The Commodity Futures Trading Commission (CFTC) said traders James Dyer of Oklahoma’s Parnon Energy, and Nick Wildgoose of [...]
STRICTLY BUSINESS BRIEF ENDS VINCE CABLE’S DANCING DREAM June 28, 2011 THERE is something bothering business secretary Vince Cable – and it’s not the separation of retail and investment banking, the Greek debt crisis or even waging war on Rupert Murdoch. No – Cable is concerned his demanding day job could mean he never fulfils his dream of returning to Strictly Come Dancing for a full [...]
Protests about tax payments have no effect April 5, 2011 SOMETIMES no change at all can be as interesting as dramatic movements and that is certainly the case when we look at brands that have been targeted by UK Uncut over the past five months. The protest movement has attempted to shame brands that it claims have dodged UK taxes. A series of actions began [...]
Asia narrows US lead in list of billionaires March 9, 2011 ASIA churned out 105 billionaires last year, narrowing the US’s lead in the Forbes magazine annual list of billionaires. The Asia-Pacific region now has 300 billionaires, versus the US’s 413, collectively valued at $1.3 trillion and $1.5 trillion respectively. China now has 115 billionaires, versus India’s 55. The list set a new record for being [...]
Rose leaves M&S as new era begins January 4, 2011 SIR Stuart Rose said farewell to Marks & Spencer (M&S) yesterday, drawing to a close a colourful six years at the helm of the retailer. He formally hands over the reins of chairman to former City banker Robert Swannell today. Sir Stuart, 61, was hailed as an inspiration after steering M&S to a £1bn profit, [...]
Rose leaves M&S as new era begins January 4, 2011 SIR Stuart Rose said farewell to Marks & Spencer (M&S) yesterday, drawing to a close a colourful six years at the helm of the retailer. He formally hands over the reins of chairman to former City banker Robert Swannell today. Sir Stuart, 61, was hailed as an inspiration after steering M&S to a £1bn profit, [...]
Report fuels tax protests against HSBC December 19, 2010 THE campaign group UK Uncut has chosen its latest target, HSBC, as a result of suggestions from a former tax inspector that the banking giant is negotiating with the Inland Revenue to withhold around £2bn in tax. The protest group yesterday said the bank is “next in line” for a fresh wave of protests, after [...]
Candy brother buys One Hyde Park flat January 23, 2011 THE DEVELOPERS of One Hyde Park have tried to lead by example by snapping up two of the luxury flats in the complex in Knightsbridge, it emerged yesterday. Christian Candy, one half of property firm Candy & Candy, has bought a single-storey penthouse for £31m, according to press reports based on Land Registry documents yesterday. [...]
Candy brother buys One Hyde Park flat January 23, 2011 THE DEVELOPERS of One Hyde Park have tried to lead by example by snapping up two of the luxury flats in the complex in Knightsbridge, it emerged yesterday. Christian Candy, one half of property firm Candy & Candy, has bought a single-storey penthouse for £31m, according to press reports based on Land Registry documents yesterday. [...]
Sir Philip will shut up to 300 retail stores November 7, 2010 GOVERNMENT adviser Sir Philip Green will close up to 300 of his retail stores within the next three years. Smaller stores in his empire, most likely from brands including Burtons and Dorothy Perkins, are expected to close. Some of these may be consolidated as Green focuses on growing Topshop, his core brand. It is speculated [...]