Ponzi suspect Freeman surfaces at court hearing October 21, 2009 TERRY Freeman, the City trader suspected of running a £40m Madoff-style Ponzi fraud, was forced to come out of hiding to attend a bail hearing yesterday. Freeman, 61, was remanded on conditional bail to appear at City of London Magistrate’s court again on 28 October. The former foreign exchange trader was arrested at his house [...]
Ponzi suspect Freeman surfaces at court hearing October 21, 2009 TERRY Freeman, the City trader suspected of running a £40m Madoff-style Ponzi fraud, was forced to come out of hiding to attend a bail hearing yesterday. Freeman, 61, was remanded on conditional bail to appear at City of London Magistrate’s court again on 28 October. The former foreign exchange trader was arrested at his house [...]
Telenor makes peace with Alfa and plans $23bn merger October 5, 2009 NORWEGIAN Telenor and Russian Alfa Group have agreed to merge their Russian and Ukrainian holdings into a $23bn (£14.4bn) New-York listed telecoms firm, ending one of Russia’s longest corporate wars. Telenor’s stock surged 15 per cent on the news the row had ended. The dispute was seen as a major threat to foreign investment in [...]
GM will stick with plan to cut Opel costs November 8, 2009 General Motors (GM) will probably stick to a plan to cut costs at Opel by 30 percent after deciding to restructure the European subsidiary itself rather than sell it, Bob Lutz, a GM executive set to become Opel’s chairman, said yesterday. “The restructuring plan developed at the end of last year is still the basis [...]
SocGen posts near doubling of earnings November 4, 2009 FRENCH bank Societe Generale (SocGen) has more than doubled its profits thanks to a good investment banking performance, although the numbers failed to hit market hopes, sparking takeover talk. SocGen posted a 133 per cent rise in net profit to €426m (£381m) from €183m a year earlier, mainly due to the fact that the bank’s [...]
THREE OTHER JAPANESE RESTAURANTS November 2, 2009 ROKARoka is rightly Soho’s favourite, buzziest Japanese and one of the area’s best restaurants. The sushi, sashimi and goodies from the Robata grill are all divine and choosing one dish over another is an eternal struggle. The airy, colourful interior lifts the whole experience further. Go for the tasting menu if you have time. 37 [...]
THREE OTHER JAPANESE RESTAURANTS November 2, 2009 ROKARoka is rightly Soho’s favourite, buzziest Japanese and one of the area’s best restaurants. The sushi, sashimi and goodies from the Robata grill are all divine and choosing one dish over another is an eternal struggle. The airy, colourful interior lifts the whole experience further. Go for the tasting menu if you have time. 37 [...]
Benitez: Derby win could turn round our season November 29, 2009 UNDER-FIRE Liverpool boss Rafael Benitez says yesterday’s Merseyside derby victory over Everton could help turn around his side’s ailing season. A first-half own goal from Joseph Yobo and a late strike from Dirk Kuyt saw the Reds register back-to-back wins for the first time since September and move back up to fifth in the Premier [...]
Russian banks may need 10bn as bad loans mount up, says central banker May 20, 2009 RUSSIAN banks could need a minimum of £10bn in extra capital this year to offset the damage done by rocketing levels of bad loans, one of the country’s top central bankers said yesterday. Alexei Simanovsky, who heads the Russian central bank’s supervision department, said stress testing had shown that non-performing loans would force banks to [...]
Eight indicted in card hack November 10, 2009 A US grand jury has indicted eight non-nationals on charges of hacking into a computer network used by credit card processing firm RBS WorldPay and stealing over $9m (£5.9m). The US Justice Department said yesterday that the group was accused of compromising the data encryption used by Atlanta-based RBS WorldPay, part of Royal Bank of [...]