Commercial court cases rise in recession July 22, 2012 THE NUMBER of winding-up petitions presented to the High Court rose by a quarter to 7,166 last year as UK companies continued to struggle, according to research released today. This drove a 1,282 rise in the total number of commercial cases launched in the High Court last year, up to 49,166 from 47,884 in 2010. [...]
German banker jailed for over eight years in F1 bribery case June 27, 2012 A JUDGE jailed a German banker for more than eight years yesterday for taking $44m (£28.2m) in bribes during the sale of Formula One in a case that centred on a payment from Bernie Ecclestone, the motor sport’s commercial chief. Presiding judge Peter Noll convicted BayernLB’s former chief risk officer Gerhard Gribkowsky of tax evasion, [...]
Plans unveiled for revival of Midtown area June 10, 2012 MAJOR BUSINESSES and political figures will meet tomorrow to discuss plans to rejuvenate London’s Midtown, an area wedged between the City and the West End, and drive investment over the next five years. Inmidtown, the business improvement district with authority over the area, will showcase a new framework aimed at restoring it as a commercial [...]
Blankfein takes stand at insider trial of Gupta June 5, 2012 LLOYD Blankfein, the chief executive of Goldman Sachs Group, told jurors at the insider trading trial of one of the investment bank’s former directors that “all parts” of a 2008 board meeting the two attended were confidential. “If something is discussed in a board meeting, it is confidential,” Blankfein said, when asked about a June [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 15, 2012 FINANCIAL TIMES EU to push for binding investor pay votes Shareholders in Europe’s listed companies will be given a binding vote on pay while those who invest in banks will gain powers to set a cap on bonus levels, under plans being drawn up by senior EU officials. The initiative from Michel Barnier, the EU’s [...]
Irish Life & Permanent losses widen April 2, 2012 Irish Life & Permanent’s banking arm reported a wider full-year loss due to soaring impairment charges ahead of a split from the group’s life division and a government decision on whether it can remain as a standalone lender. Once lauded as the only Irish lender to avoid a state bailout due to its lack of [...]
Not for flower girls these days: Covent Garden’s luxury new flats March 29, 2012 Less than a mile up the road in Mayfair, property sells for at least £2,000 per square foot. Covent Garden, arguably a more vibrant area of central London, is still roughly half as expensive – homes can be had at prices from £1,000 per square foot. Perhaps not for long, though: one of the reasons [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 20, 2012 FINANCIAL TIMES US CORPORATES SHY TO OFFER GUIDANCE US companies are more uncertain about the future than at any point since the financial crisis, with just one in five of the country’s biggest corporations making any predictions as they published fourth-quarter results. TRANSOCEAN WILL NOT PROPOSE A DIVIDEND Shares in Transocean, the owner of the [...]
Kodak files for bankruptcy January 19, 2012 Eastman Kodak Co, which invented the hand-held camera and helped bring the world the first pictures from the moon, has filed for bankruptcy protection, capping a prolonged plunge for one of America’s best-known companies. The more than 130-year-old photographic film pioneer, which had tried to restructure to become a seller of consumer products like cameras, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 19, 2011 FINACIAL TIMES NETWORK RAIL WARNED OVER BONUSES Senior management at Network Rail should forget about bonuses next year, Justine Greening, the transport secretary, said on yesterday. She was speaking after the Office of Rail Regulation (ORR) found that the owner of Britain’s railway infrastructure had failed to meet its punctuality targets and was in breach [...]