MADOFF FUNDS TO BE RETRIEVED May 14, 2009 The trustee given charge of recovering assets from Bernie Madoff’s fraudulent investment scheme said yesterday he expects to reach financial settlements over the coming weeks with a handful of investors who reaped profits from the plan. Irving Picard, the court-appointed trustee, said last night he expected “significant settlements”.
Stanford employee ‘not guilty’ May 14, 2009 The chief investment officer at Allen Stanford’s companies pleaded “not guilty” yesterday to charges stemming from the first indictment in the federal government’s investigation of the troubled financial firm. Laura Pendergest-Holt will remain free on bond after being indicted earlier this week on conspiring to obstruct an SEC investigation.
Fujitsu shuts final salary scheme May 14, 2009 Fujitsu Services, the UK arm of the Japanese technology company, yesterday decided to close its defined benefit pension scheme to existing workers. The closure, which marks the first large employer to close such a scheme in almost two years, is likely to be the start of a trend, say experts, who expect the recession to [...]
Invensys signals dividend return May 14, 2009 Engineering firm Invensys said yesterday it would make its first dividend payment since 2003. Chief executive Ulf Henriksson said the recommendation of 1.5p a share was a “prudent level” that should allow for a progressive dividend policy in future. Revenue in the year to March rose to £2.2bn from £2.1bn, but pre-tax profit fell to [...]
BT SAYS SORRY TO INVESTORS May 14, 2009 BT CHIEF executive Ian Livingston yesterday apologised to shareholders after an “unacceptable performance” by BT Global Services (BTGS) forced the firm to cut its dividend for the first time in eight years. Writedowns of £1.3bn against BTGS, which supplies IT services to multinational companies, drove a loss of £134m in the year ending March 2009 [...]
A CONSERVATORY IS THE BEST WAY TO ENJOY THE SUMMER May 14, 2009 WITH a rare hot summer on the way, making use of your outdoor space this year will be a priority for anyone with a garden and a bit of an itch to renovate. Enter the conservatory. Banish thoughts of hyacinth-filled, musty rooms belonging to ladies with cats or ageing parents. They are an increasingly sleek [...]
20/1 Alexandros looks value for the in-form ‘Boys in Blue’ against Paco Boy May 14, 2009 PACO BOY is as short as 11/10 with Boylesports to win tomorrow’s Juddmonte Lockinge Stakes and will take some beating. Richard Hannon’s four-year-old son of Desert Style is looking to land the second Group One contest of his career having won last year’s Prix De La Foret at Longchamp on Arc weekend. However, that race [...]
WHAT DO YOU THINK OF BT’S RESULTS? May 14, 2009 DAVID MOLONY OVUM“In a sense, it was one of the most important announcements since BT was floated. However, despite a knock to the confidence in their business, there was plenty to be happy about. Broadband is very strong, conferencing and business services are too. And Global Services is still winning business. If a company can [...]
Profits posted at Royal Mail despite slump May 14, 2009 ROYAL MAIL’S profits have almost doubled, the postal service said yesterday, as all four sections of the company entered the black for the first time in two decades. The whole group’s operating profit hit £321m for the year to the end of March, up from £162m last year, and showed its letter delivery arm and [...]
You’re never Gunner derail United’s title bid May 14, 2009 MANCHESTER UNITED VS ARSENALAFTER a few worries in March, Manchester United are cantering towards an incredible 11th Premier League title and it looks like Sir Alex Ferguson will be lifting the trophy in front of his oldest adversary, Arsene Wenger. The win against Wigan on Wednesday night means that United now only require one point from [...]
