Hayward sent off to Siberia July 26, 2010 BP’S BELEAGUERED chief executive Tony Hayward will stand down in October and is expected to be nominated for a non-executive board directorship with TNK-BP, the group’s Russian joint venture. The oil major is set to announce Hayward’s departure this morning and will reveal that Mississippi-born Bob Dudley, the man in charge of the oil spill [...]
Banker linked to WikiLeaks goes on trial January 19, 2011 Former Swiss banker Rudolf Elmer has started his trial for breaching bank secrecy, admitting he sent private client data to tax authorities but denying blackmail and a bomb threat against Bank Julius Baer. Elmer, 55, among the first to use WikiLeaks to publish private bank documents, said he took his information to the website after [...]
Goldman code theft case starts November 30, 2010 A FORMER Goldman Sachs computer programmer charged with theft of a valuable speed-trading code did not, and could not, harm Wall Street’s most influential bank, his lawyer told a jury yesterday. But a federal prosecutor told jurors Sergey Aleynikov stole critical parts of Goldman’s top-secret high-frequency trading programme because he would earn hundreds of thousands [...]
The City’s top headhunter on why firms still need to recruit the best February 6, 2011 PERHAPS not surprisingly, Odgers Berndtson’s boss was in an upbeat mood when City A.M. visited him recently in his large office overlooking Hanover Square in the West End. Last year’s preliminary revenues had just come in: they are an improvement on the year before, always welcome news in the present environment. Richard Boggis-Rolfe, the privately-held [...]
The City’s top headhunter on why firms still need to recruit the best February 6, 2011 PERHAPS not surprisingly, Odgers Berndtson’s boss was in an upbeat mood when City A.M. visited him recently in his large office overlooking Hanover Square in the West End. Last year’s preliminary revenues had just come in: they are an improvement on the year before, always welcome news in the present environment. Richard Boggis-Rolfe, the privately-held [...]
Hedge funds play an important role in society December 20, 2010 ONE of the biggest popular misconceptions about the hedge fund industry is that it is unregulated and wishes to stay that way. Not only are managers vigorously and effectively regulated at a UK level, but they will soon also be subject to EU regulation, with the Alternative Investment Fund Managers Directive (AIFMD) soon to be [...]
Legal aid to be slashed by £350m November 15, 2010 KEN Clarke, the justice secretary, yesterday unveiled plans to slash Britain’s ballooning legal aid bill by £350m. In the future, the benefit will be scrapped for civil cases involving divorce, medical negligence and school admissions. Clarke said the proposed reforms would save £350m by 2014-15. The current legal aid bill in England and Wales is [...]
Legal aid to be slashed by £350m November 15, 2010 KEN Clarke, the justice secretary, yesterday unveiled plans to slash Britain’s ballooning legal aid bill by £350m. In the future, the benefit will be scrapped for civil cases involving divorce, medical negligence and school admissions. Clarke said the proposed reforms would save £350m by 2014-15. The current legal aid bill in England and Wales is [...]
Mount Gay, Barbados: a tour round rum’s natural home January 30, 2011 THE heart of the Barbados rum trade is perched at the northernmost tip of this small Caribbean island. High in the mountains in the St Lucy district sits the Mount Gay refinery, surrounded by a nine feet tall sugar cane plantation and gazing out over wild Atlantic waves which crash into the Florida coast 1,600 [...]
Equality Act may cause surge in Tribunal claims September 30, 2010 LAWYERS warned that the Equality Act, which comes into force today, could cause a flood of claims to hit tribunals if businesses fail to comply with the new rules. The Equality Act 2010 was introduced by Labour deputy leader Harriet Harman’s and fulfilled a 2005 manifesto commitment. The Act brings together nine different anti-discrimination laws, [...]