Morgan Stanley said to cancel all Libya oil trades March 7, 2011 Wall Street bank Morgan Stanley has stopped trading oil with Libya, a trade source has told Reuters, in an early indication that sanctions could hit exports from the north African producer. The firm cancelled all crude oil and refined products in the past week “due to the OFAC,” the source familiar with the firm’s transactions [...]
Uefa looks to tighten finance rules March 30, 2011 EUROPEAN governing body Uefa yesterday vowed to monitor those clubs who may attempt exploit loopholes in new financial restraints which are due to be implemented from 2014. Clubs, specifically those with wealthy owners who consistently spend more than they earn, will be barred from European competition from 2014-15 season under president Michel Platini’s “fair play” [...]
Acas call CityJet to strike talks February 21, 2011 ACAS has called on airline CityJet to turn up for talks with union bosses in order to avoid further strikes at London City Airport. The industrial dispute service is mediating talks between the GMB union and Aviation Resources, an agency which employs staff on behalf of the airline. Staff are threatening to strike over pay [...]
Acas call CityJet to strike talks February 21, 2011 ACAS has called on airline CityJet to turn up for talks with union bosses in order to avoid further strikes at London City Airport. The industrial dispute service is mediating talks between the GMB union and Aviation Resources, an agency which employs staff on behalf of the airline. Staff are threatening to strike over pay [...]
Barclays pays £190m to settle US sanctions case August 16, 2010 BARCLAYS Bank has agreed to pay $298m (£190m) to settle criminal charges that it violated US sanctions in dealings with Cuba, Iran, Libya, Sudan and Myanmar, according to US court documents filed yesterday. The bank was charged with violating the International Emergency Economic Powers Act and the Trading with the Enemy Act in its dealings [...]
US freezes over $30bn of Libyan assets February 28, 2011 EUROPE and the US yesterday added to sanctions against Libyan leader Colonel Gaddafi as the international community continued its drive to squeeze him out of power. The US has frozen $30bn of Libyan assets in the largest move of its type in history. The EU also approved a package of sanctions banning the sale of [...]
The stress test: why great leaders find opportunities even in a crisis June 12, 2011 TO LEAD in today’s environment, you must go beyond tolerating stress and fear to actually using them as a motivator and tool to enhance your focus and your people’s focus. Even though it can render intelligent people incapable of complex thought, adrenaline is one of the most useful tools in the human arsenal, and in [...]
FSA makes up rising costs in higher penalties March 22, 2011 A BUMPER year for enforcement fines means that financial firms will pay less for the FSA’s upkeep despite a ten per cent rise in its costs, the Authority’s business plan for 2011/2012 revealed yesterday. Fees will drop two per cent because revenues from financial penalties doubled from £33.2m in 2009/2010 to £79.1m in the year [...]
Clarity on plea bargaining is needed February 8, 2011 WHATEVER the final shape of the Bribery Act, which was once again delayed last week, one area that needs to be clarified is the question of plea bargaining. A number of cases have sown confusion in the minds of British businesses. Clarity on plea bargaining is now sorely needed. The confusion dates to July 2009 [...]
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 [...]