Dodd-Frank offers whistleblowing incentives August 24, 2010 FAEGRE & BENSON LLP THE bell rings to open and close each day of Wall Street trading. But corporate ears now are on the listen for a different sound—the trill of whistles blown by employees bringing allegations of fraud to the SEC. The Dodd-Frank financial reform act introduces large monetary incentives for whistleblowers and shields [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 5, 2010 FINANCIAL TIMES NEW HOLE IN CONNAUGHT DEBT The scale of debt at Connaught, the collapsed property services group, will be greater than previously thought after administrators found 50,000 invoices that the company had not accounted for. Management accounts had led administrators from KPMG to believe that the social housing maintenance arm of Connaught owed £46m [...]
Surge in food prices keeps inflation high September 14, 2010 HEADLINE annual inflation held steady at 3.1 per cent in August as sharp rises in the cost of air fares, clothing and food prices offset softer petrol prices, official figures revealed yesterday. The Office for National Statistics (ONS) said that inflation rose 0.5 per cent between July and August but that the annual rate remained [...]
Barclays pays in trade case August 18, 2010 BARCLAYS last night struck a $298m (£192m) deal with US authorities over charges it violated trade sanctions. The shock announcement came just 24 hours after the judge who endorsed the settlement branded it a “sweetheart deal” which the government should be concerned about. The banking giant was in the dock over allegations it broke the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 11, 2010 FINANCIAL TIMES EVERBRIGHT BANK PRICES IPO AT TOP OF RANGE China Everbright Bank, the last of China’s big national lenders to sell shares to the public, is set to raise up to Rmb21.7bn in its initial public offering after pricing its shares at the top end of an indicative range. The country’s 11th-largest bank will [...]
Row fuels fears of currency war September 16, 2010 THERE were growing fears of a global trade war last night after the world’s largest countries clashed over currency policies aimed at protecting their own faltering economic recoveries at the expense of others. In his strongest words yet on America’s long-running dispute with China over the value of its currency, US treasury secretary Tim Geithner [...]
Row fuels fears of currency war September 16, 2010 THERE were growing fears of a global trade war last night after the world’s largest countries clashed over currency policies aimed at protecting their own faltering economic recoveries at the expense of others. In his strongest words yet on America’s long-running dispute with China over the value of its currency, US treasury secretary Tim Geithner [...]
FSA opens compensation door to millions over PPI August 10, 2010 THE CITY regulator yesterday unveiled tough new rules on Payment Protection Insurance (PPI) complaints that could force banks to dole out as much as £2.7bn in compensation to nearly 3m people. Despite the financial services industry lobbying the Financial Services Authority (FSA) not to bring in the new sanctions to protect consumers, the regulator said [...]
FSA opens compensation door to millions over PPI August 10, 2010 THE CITY regulator yesterday unveiled tough new rules on Payment Protection Insurance (PPI) complaints that could force banks to dole out as much as £2.7bn in compensation to nearly 3m people. Despite the financial services industry lobbying the Financial Services Authority (FSA) not to bring in the new sanctions to protect consumers, the regulator said [...]
The appeals of age shouldn’t be ignored September 21, 2010 Last month the Canadian Imperial Bank of Commerce appealed against an employment tribunal’s ruling that it had discriminated against its 42-year-old European head of derivatives marketing, Achim Beck, by allowing a 35 year-old manager to oust him after putting out a search brief explicitly seeking to replace him with someone younger. The bank lost. There [...]