Former AIG chief lied in court, alleges the insurer’s lawyer July 6, 2009 MAURICE “Hank” Greenberg, former chief executive of American International Group (AIG), fabricated documents and lied under oath in a bid to cloud who is the rightful beneficiary of over $4.3bn (£2.6bn) from stock sales, AIG lawyer Ted Wells told a jury yesterday. Wells said Greenberg’s assertions at trial that the stock was intended for a [...]
Brown and Sarkozy team up to tackle oil price volatility July 6, 2009 PRIME Minister Gordon Brown joined French President Nicolas Sarkozy yesterday in an attempt to curtail oil price volatility, as part of a move towards tougher global governance to prevent a return to problems that existed before the financial crisis. Speaking at a Franco-British summit ahead of a meeting of G8 leaders in Italy this week, [...]
Haye close to Vitali showdown July 6, 2009 BOXING: David Haye is close to agreeing a fight against WBC heavyweight champion Vitali Klitschko on 12 September. Briton Haye pulled out of his original 20 June bout with brother Wladimir after suffering a back injury in training. But with Wladimir facing a mandatory defence of his IBF title against Alexander Povetkin, Vitali looks the [...]
Bolt doubles up in London July 6, 2009 ATHLETICS: Triple Olympic gold medallist Usain Bolt has confirmed he will run in both the 100m and 4x100m relay at the London Grand Prix at Crystal Palace later this month. The 22-year-old was scheduled to run the 100m but will now race on both days on 24 and 25 July as preparation for the World [...]
Calls for QE to be expanded July 6, 2009 THE worst of the recession may be over but the Bank of England should expand its £125bn quantitative easing (QE) programme to ensure the economy stabilises rather than heads into a double-dip recession, the British Chambers of Commerce (BCC) said. David Kern, chief economist at the BCC, said: “With cashflow, capacity utilisation, and price pressures [...]
Welsh RFU faces High Court date July 6, 2009 RUGBY UNION: Wales’ first autumn Test encounter with New Zealand on 7 November is likely to be the subject of a High Court hearing after a row broke out over player release. Wales coach Warren Gatland wanted his Test stars available for national team duty despite the four regions – the Ospreys, Dragons, Llanelli Scarlets [...]
Springboks charged over protest July 6, 2009 RUGBY UNION: South Africa have been charged with misconduct by the International Rugby Board for their protest against the suspension of Bakkies Botha. The Springboks sported white armbands with the message “Justice 4 Bakkies” during Sunday’s third Test against the British and Irish Lions after Botha was given a two-week ban for a dangerous charge [...]
Cinven drafts in Langmuir July 6, 2009 Private equity house Cinven has appointed Hugh Langmuir as managing partner, after Robin Hall became executive chairman. Langmuir’s appointment comes as the group prepares to raise a new fund, amid signs that some of its investments are struggling. Hall’s decision to move upstairs mirrors recent reshuffles seen at rivals such as Permira, BC Partners and [...]
SUMMER SALES FOOTBALL UPDATE July 6, 2009 Ronaldo draws record crowdA WORLD record crowd packed Real Madrid’s Santiago Bernabeu stadium for the unveiling of winger Cristiano Ronaldo last night. The Portugal star, who joined in an £80m deal from Manchester United earlier this month, was greeted by 80,000 fans – more than attended Diego Maradona’s arrival at Napoli. Ronaldo said: “I have [...]
Taxpayer bill for Rock to rise July 6, 2009 The Treasury’s bill for Northern Rock’s losses looks set to increase, after one of the mortgage lender’s subsidiaries breached a contract, putting other creditors ahead of the taxpayer for repayment. Granite, a unit which securitised Northern Rock mortgages, will be forced to speed up the return of £26bn of debts to noteholders. Rock will be [...]
