Alleged flash crash trader back in court after bail goes unpaid April 28, 2015 THE BRITISH day trader who allegedly sparked the 2010 US flash crash will appear in court again this morning after he failed to stump up the £5m bail needed to be freed from custody. Navinder Sarao, a 36-year old trader from Hounslow, has been in police custody since his arrest on 21 April, despite a [...]
Tsipras insists deal on bailout will be struck April 28, 2015 FEARS over the Greek government’s finances partially subsided yesterday as Prime Minister Alexis Tsipras said he believed a deal for extra bailout cash could be reached by 9 May. The money would come in time for a 12 May debt repayment to the IMF of about €750m (£540m). The interest rate on Greece’s 10 year government [...]
Alliance Trust gets a year to show results as Elliott Advisors gives 12 months’ notice April 28, 2015 Investment firm Alliance Trust has been put on 12-months’ notice by activist investor Elliott Advisors to show results or be forced to change its strategy. In a vicious battle over the past month, both sides have been rallying support among shareholders, with Elliott pushing for three new directors to join the board, and Alliance [...]
US web outfit Endurance plunges after Gotham City points the finger April 28, 2015 TWELVE thousand words wiped half a billion dollars off the value of web-hosting firm Endurance International yesterday after Gotham City Research launched the latest salvo in its battle against firms it alleges are worthless. The research note, entitled A Web of Deceit, placed a $0 target price on Endurance shares, which were trading at $21.94 [...]
BP finance boss Brian Gilvary commits to dividend as bid talk continues April 28, 2015 BP finance chief Brian Gilvary yesterday reconfirmed the company’s commitment to sustaining its dividend payout while shrugging off questions about potential bids for the oil giant. The group announced an interim dividend of 10 cents, or 6.67p, per share yesterday, and Gilvary said keeping the shareholder payout at the top of its agenda had [...]
StanChart mulls leaving UK as bank levy rises April 28, 2015 STANDARD Chartered is considering leaving Britain over mounting pressure from the bank levy, its finance director said yesterday. It comes after HSBC’s bosses said the hostile atmosphere in the UK could push it to move to another country. Hong Kong or Singapore are both considered likely destinations for the pair. Standard Chartered expects to pay [...]
Santander profits rise as it wins over current account customers April 28, 2015 Santander UK’s profits rose sharply in the first quarter as the lender continued to win customers from rivals. The high street bank yesterday reported profits of £470m for the three-month period, up 13 per cent on the year. It is engaged in a fierce battle with Halifax for new current account customers. Both brands offer [...]
Insider trader Pardip Saini gets an extra 538 days in jail for failure to pay fine April 28, 2015 A convicted insider trader was yesterday told he must spend a further 538 days in prison for failing to cough up a court order of more than £450,000. Pardip Saini had been ordered to pay £464,565 by 12 March after being sentenced to three-and-a-half years in jail for insider trading in 2012. The Financial Conduct Authority [...]
Growth stalls as parties speed to the finish line April 28, 2015 New preliminary figures released yesterday showed that growth in the UK economy slowed in the first three months of this year. The slowdown could dent the re-election prospects of the Conservatives and Liberal Democrats, yet economists and business groups played down the significance of the data. The Office for National Statistics (ONS) reported that GDP [...]
Splurges in the US and Europe helps UPS deliver higher profits April 28, 2015 DELIVERY firm UPS posted higher profits for the first three months of 2015, its financial results revealed yesterday. For the period the world’s largest delivery company made 2.4 per cent more deliveries daily than the same time last year. The company’s export shipments from the US jumped 6.7 per cent led by European growth of 9.4 [...]
