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 [...]
Bargain hunters push markets into recovery mode March 17, 2011 The FTSE rallied to an upbeat close after a six day fall, spending the day “in recovery mode”, analysts said. The FTSE 100 closed up 1.75 per cent at 5,696.11 as investors moved back into oversold stocks, with commodity stocks and chipmakers leading the gains and only six of its constituents closing lower. Stockbroker UBS [...]
Bargain hunters push markets into recovery mode March 17, 2011 The FTSE rallied to an upbeat close after a six day fall, spending the day “in recovery mode”, analysts said. The FTSE 100 closed up 1.75 per cent at 5,696.11 as investors moved back into oversold stocks, with commodity stocks and chipmakers leading the gains and only six of its constituents closing lower. Stockbroker UBS [...]
Pearson stops Libya payout as oil surges March 1, 2011 PENGUIN publisher Pearson yesterday took the unprecedented step of freezing dividend payments to Libya as pressure on the crumbling regime reached fever pitch. The firm cut all payments for the Libyan Investment Authority’s (LIA) 3.27 per cent holding “until further notice,” pointing to UN security sanctions on the country. The shock move came as oil [...]
We won’t fire Cole over gun incident, says Ancelotti February 28, 2011 CHELSEA MANCHESTER UTD CHELSEA manager Carlo Ancelotti last night defended Ashley Cole, insisting the full-back does not deserve to lose his job, or even his place in the team, for accidentally shooting a work experience student with an air rifle. Ancelotti confirmed Cole would face Manchester United in tonight’s crucial Premier League fixture at Stamford [...]
Fears over oil price persist on Libya crisis February 27, 2011 OIL prices continued to rise in Asian trading today, pushing Brent crude for April delivery up $1.51 to $113.65 a barrel. US crude for April delivery gained $1.47 to $99.35 a barrel as fears over escalating violence in Libya continued to drive prices up. Many of Libya’s major oil production facilities remained off-line or were [...]
Fears over oil price persist on Libya crisis February 27, 2011 OIL prices continued to rise in Asian trading today, pushing Brent crude for April delivery up $1.51 to $113.65 a barrel. US crude for April delivery gained $1.47 to $99.35 a barrel as fears over escalating violence in Libya continued to drive prices up. Many of Libya’s major oil production facilities remained off-line or were [...]
Brussels calls for criminal punishments December 8, 2010 BRUSSELS may demand that countries impose criminal penalties for breaking some financial rules, in a bid to toughen up regulation across the European Union. In a second consultation paper yesterday about financial penalties, EU officials said there was too much variation in sanctions between countries. One proposal is for Brussels to set minimum penalties across [...]
Brussels calls for criminal punishments December 8, 2010 BRUSSELS may demand that countries impose criminal penalties for breaking some financial rules, in a bid to toughen up regulation across the European Union. In a second consultation paper yesterday about financial penalties, EU officials said there was too much variation in sanctions between countries. One proposal is for Brussels to set minimum penalties across [...]
Weir guilty over oil for food December 13, 2010 Engineering firm Weir Group announced yesterday it would plead guilty to two charges of breaching UN sanctions over oil-for-food contracts it was awarded by Saddam Hussein between 2000 and 2002. Weir was formally charged with the offences by the Crown Office in Scotland yesterday and it is expected the case will be heard at the [...]