Australia’s competition watchdog is having a real headache over Reckitt Benckiser’s Nurofen fine, filing an appeal in hopes to have it increased May 23, 2016 Australia's competition watchdog was really not impressed by Nurofen's recent advertising attempts, arguing that a AU$1.7m (£850,000) fine levied on the pharmaceutical brand is too small. Australian Competition and Consumer Commission (ACCC) has today filed a notice of appeal against the Federal Court's decision ordering Nurofen's manufacturer Reckitt Benckiser to fork over the penalty for printing potentially misleading statements on its packaging. [...]
Investors set to vote for Brexit as one in five are now deferring investments ahead of the EU Referendum May 23, 2016 NULL
Think tank’s report slams UK’s obsession with inequality, saying it is based on misconceptions May 23, 2016 The UK's obsession with inequality is in our collective imagination, as many people are far better off than they were just a few decades ago, a report out today argues. The research paper by the Institute of Economic Affairs (IEA) illustrates that income equality has been relatively stable for the last 25 years, while wealth [...]
White-collar prosecutions edged up last year, the first increase in five years May 23, 2016 Prosecutors are cracking down on white-collar crime, with the number of prosecutions inching up for the first time in five years, research out today has found. The study by law firm Pinsent Masons discovered that there were 9,401 prosecutions for white collar crime last year, compared with 9,343 the year before. "Any increase in prosecutions [...]
Close call: Postal votes to make or break far right’s success in Austria election May 22, 2016 Initial counts for Austria's presidential election indicated a dead heat earlier today, meaning postal votes are likely to play a key role in determining whether the far-right Freedom Party will take power. The forecast from the SORA institute on behalf of broadcaster ORF, which is based on votes cast in polling stations alongside an estimate of postal votes, indicated that the [...]
Investment Association issues stern warning to kitchen sink companies May 22, 2016 The Investment Association late last week fired a warning shot to companies which rejig their profit forecasts as soon as a new management team is appointed, essentially washing the business' value down the drain. The association, which represents unit trust and investment fund managers, has issued a letter to chairmen at FTSE 350 companies, telling them that they [...]
Sir Philip Green would “welcome” opportunity to discuss the future of pensions regulations May 22, 2016 Sir Philip Green and Frank Field may finally be seeing eye-to-eye, with a spokesperson for the business tycoon today telling City A.M. that he would "welcome" the opportunity for a serious talk about pensions. BHS' pension scheme, which ran a deficit worth £571m when the retailer was put into administration last month, has proved something [...]
Former Barclays banker tells court that bosses must have known about Libor fixes May 22, 2016 A former Barclays trader who is currently standing trial accused of Libor-rigging related offences told the court late last week that three senior figures at the bank must have known about the rate fixing. Jay Merchant, along with fellow former traders Stylianos Contogoulas, Alex Pabon and Ryan Reich and one of Barclays' former Libor submitters Jonathan Mathew, [...]
Now it’s the advisers’ turn to be grilled by MPs over BHS collapse May 22, 2016 The topic of the BHS collapse will be heading back into parliament tomorrow, with a string of advisers from top law and accountancy firms due to be grilled by MPs. Ian Greenstreet, partner at Nabarro, Tony Clare, partner at Deloitte, David Clarke, partner at KPMG, Richard Cousins and Steve Denison, both partners at PwC, Emma King, partner at Eversheds and Owen [...]
Petrobras to get a new boss on Monday, provided he receives board approval May 22, 2016 Brazil's state-run oil producer Petrobras will be getting a new boss on Monday. According to a notice filed late last week, the board will meet tomorrow to formally consider appointing engineer Pedro Parente as the company's new chief executive, replacing Aldemir Bendine. Parente has previously held roles in government, including chief of staff and minister of planning, and was chief executive [...]
