The ascent of prime London’s new hotspot July 15, 2010 FITZROVIA, the area around the BT Tower, bordered by Oxford Street, Tottenham Court Road, Great Portland Street and Euston Road, should be Londoners’ idea of property heaven. The West End is on your doorstep, as is Regent’s Park. The ever-more exciting restaurant and bar scene of Goodge and Charlotte Streets, and the more established prettiness [...]
Goldman to fight bonus fury in court December 15, 2009 INVESTMENT bank Goldman Sachs is being sued for billions of dollars in compensation after an institutional shareholder accused it of blindly “looting” the firm’s coffers by paying out rich rewards to its employees. The lawsuit, which has been filed with the New York Supreme Court by the Security Police and Fire Professionals of America Retirement [...]
Bank charges ruling a blow for consumer November 25, 2009 MILLIONS of customers hoping to reclaim more than £1bn in overdraft charges suffered a blow yesterday following a landmark ruling in favour of the banks. The Supreme Court sided with eight major lenders who had challenged decisions made by the lower courts that the unauthorised bank charges come under “unfair contract” rules. The ruling means [...]
Santander to launch no-fee current account November 19, 2009 ABBEY-OWNER Santander yesterday unveiled plans to bring a no-fees current account to the UK, as it ups its bid to take on the big four high street banks. The Santander Current Account – which will have no account, overdraft or overseas withdrawal charges – will only be available to customers who take out a mortgage [...]
Drama in the Deep South July 7, 2010 FORD COUNTY BY JOHN GRISHAM ARROW PAPERBACK, £7.99 BY ZOE STRIMPEL John Grisham, trusty friend of travelling businessmen for 20 years, is the definition of “best-selling author”. But what distinguishes him from the slews of so-called best-selling thriller writers, many of them attempting to be just like him, is the watertight quality of his writing [...]
Citi could lose Mexican bank October 18, 2009 Mexico’s Supreme Court will this week investigate whether it should force Citigroup to sell its lucrative Mexican subsidiary, which is 34 per cent owned by the US government following its bailout during the global credit crisis. Foreign governments are generally not allowed to own banks in Mexico, and the nation’s senators have requested the probe [...]
Citi could lose Mexican bank October 18, 2009 Mexico’s Supreme Court will this week investigate whether it should force Citigroup to sell its lucrative Mexican subsidiary, which is 34 per cent owned by the US government following its bailout during the global credit crisis. Foreign governments are generally not allowed to own banks in Mexico, and the nation’s senators have requested the probe [...]
Former Enron boss gets an appeal on technicality October 13, 2009 THE US Supreme Court has agreed to hear an appeal by former Enron chief executive Jeffrey Skilling against his 2006 conviction for fraud. Skilling, who is serving a 24-year sentence for his involvement in the giant accounting fraud, has secured an appeal after his lawyers argued his 19 convictions were based on flawed legal theory. [...]
There is no such thing as a free lunch in banking November 25, 2009 IT came as a bit of a shock. Britain’s new Supreme Court, which has just been spun out from the House of Lords, dealt the Office of Fair Trading a bitter blow yesterday by ruling against it in its test case against high street banks. Their Lordships ruled unanimously that deciding whether overdraft charges – [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 30, 2009 FINANCIAL TIMES CARLYLE SUED OVER COLLAPSED FUNDA prominent Kuwaiti conglomerate is suing the Carlyle Group in a local court, alleging that the US private equity firm misrepresented the safety of its affiliate, Carlyle Capital Corp (CCC), a public debt fund that collapsed in 2008. The firm, National?Industries Group, invested $50m in CCC, which was marketed [...]