Bob Diamond’s fund Atlas Mara increases stake in Union Bank of Nigeria September 5, 2014 Former Barclays chief Bob Diamond's African investment vehicle has increased its stake in a Nigerian banking group by nearly 30 per cent as it bets on the success of the country's economy. Atlas Mara exercised an option to buy a 20.9 per cent stake in Union Bank of Nigeria from the Asset Management Corporation of [...]
Apple ups iCloud security after “iBrute” hacking of celebrity photos September 5, 2014 Apple is ramping up iCloud security after the accounts of dozens of celebrities were hacked and naked photos leaked online. The tech giant will introduce additional security features for iCloud following the high-profile hack, which it said was not the result of a brute force attack on its servers but due to a “targeted attack [...]
Euro vs rouble: Currencies react to ECB stimulus measures September 5, 2014 Not content with falling against the dollar and the pound, the euro yesterday slid against the Russian rouble too. In fact, after the European Central Bank's (ECB) surprise stimulus measures, the euro fell against every currency listed in the ECB data store, except the Czech koruna and the Bulgarian lev. And it only rose against the [...]
Coalition seeks supporters of military action in Iraq and Syria as strikes on Islamic State considered September 4, 2014 The Conservative party has begun canvassing its MPs to find out if they would support military action in Iraq and Syria, as leaders from all three main parties appeared to be warming towards possible air strikes yesterday. As the Nato summit got underway in Wales, Tory party whips were quizzing MPs to find out how [...]
Euro tanks after Draghi unveils surprise stimulus September 4, 2014 THE EURO took a nosedive yesterday after central bank chief Mario Draghi surprised markets with a new wave of dovish policies designed to help save the ailing single currency area. Interest rates were cut to fresh record lows, while Draghi’s European Central Bank (ECB) will also try to boost credit conditions further by snapping up [...]
Shares slide after US judge blames BP and paves way for £11bn fines September 4, 2014 OIL GIANT BP has been described by a US judge as “grossly negligent” for its role in the oil spill in the Gulf of Mexico four years ago, in a ruling that could add $18bn (£11bn) in fines to the more than $42bn in charges taken so far for the worst offshore disaster in US [...]
United against Scottish independence but Miliband’s unholy alliance with Cameron is broken September 4, 2014 Westminter’s biggest political hitters, David Cameron and Ed Miliband, raised the stakes in the Scottish referendum debate yesterday by turning against each other just weeks before voters go to the polls. During a visit to Lanarkshire yesterday, the Labour leader sought to position himself as odds-on favourite to win the general election in 2015, an [...]
UK researchers criticise WHO e-ciggie paper September 4, 2014 BRITISH researchers yesterday claimed a World Health Organisation (WHO) report into e-cigarettes contained errors, misinterpretations and misrepresentations, causing policymakers to ignore their potential health benefits. The WHO’s report last month called for stiff regulation of e-cigarettes, as well as bans on indoor use, advertising and sales to minors. However, Ann McNeill, a researchers at the national [...]
Rogue trader free after 110 days in prison September 4, 2014 ROGUE French trader Jerome Kerviel, who was sentenced in May to three years in jail over trading that lost his bank billions of euros, will walk from prison on Monday after just 110 days behind bars if he respects home curfew rules. Kerviel was convicted after losing Societe Generale €4.9bn (£3.8bn) in 2008 when a [...]
Betfair hit by pay revolt over Breon Corcoran bonus despite record revenues September 4, 2014 Almost one third of Betfair shareholders yesterday voted against pay and bonus deals for chief executive Breon Corcoran, despite the online betting exchange reporting strong growth in quarterly profit, thanks mainly to the World Cup. At its annual general meeting yesterday, Betfair said it had generated revenue of almost £16m from the World Cup, more [...]