SFO Tchenguiz blow December 22, 2011 THE SERIOUS Fraud Office was dealt a blow yesterday after it was forced to hand back documents seized in a dawn raid on Vincent Tchenguiz’s offices earlier this year, part of its probe into the collapse of Kaupthing. The embattled property tycoon yesterday declared the SFO had admitted the decision to issue search warrants “should [...]
It’s crackers! Experts count the cost of Christmas lunch December 22, 2011 IF you’re heading to the supermarket today to pick up the ingredients for Christmas dinner, then along with your shopping trolley there’s one other basket you shouldn’t forget – the inflation basket. Choosing between broccoli and carrots may not seem like a crucial decision, but with food inflation and supermarket price wars hitting the cost [...]
Onward and upwards in 2012 please December 22, 2011 AS the business year draws to a close, there is one last opportunity to reflect on what has gone before, and to consider what might lie ahead. In the financial world, 2011 will forever be remembered as the year the wheels fell off the euro. The single currency is still intact, but nobody quite knows [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 22, 2011 FINANCIAL TIMES CALLS FOR QE TO STAVE OFF EURO DEFLATION A top European Central Bank policymaker has called for “quantitative easing” to be used to boost the eurozone economy if deflation risks emerge across the region. The comments by Lorenzo Bini Smaghi, ECB executive board member, are the strongest indication yet that the central bank [...]
High court fails to stop Boxing Day Tube strike December 22, 2011 A BOXING day strike by Tube drivers has been given the green light, threatening to disrupt football matches and shoppers, after a high court judge refused to halt it. London Underground (LU) had argued that the strike was illegal as drivers who are not expected to work on 26 December had cast their vote in [...]
Tchenguiz: SFO admits to errors in case December 22, 2011 VINCENT Tchenguiz’s war with the Serious Fraud Office (SFO) may not be over but forcing the watchdog to admit to errors over his controversial arrest represents a major battle won. Vincent Tchenguiz was arrested in March over his exposure to the collapsed Icelandic bank Kaupthing but has always maintained his innocence. The Iranian-born property magnate [...]
Economy set to worsen into New Year December 22, 2011 SERVICES grew surprisingly strongly in the third quarter of 2011, prompting the Office for National Statistics (ONS) to revise GDP figures up slightly for the three-month period. However, they cut growth estimates for the previous quarter, leaving the year’s expansion rate unchanged, and economists predict a tough 2012. GDP grew by 0.6 per cent from [...]
TIMELINE: THE TCHENGUIZ CASE December 22, 2011 ● 9 March 2011 Robert and Vincent Tchenguiz are arrested by the SFO in connection with the collapse of Icelandic bank Kaupthing. After questioning they are released without charge. ● ● 15 March Vincent Tchenguiz blames the SFO raid for his property Peverel Group entering administration, after Bank of America Merrill Lynch demands repayment of [...]
King: talk of euro’s fall is doomsaying December 22, 2011 BANK of England governor Mervyn King has compared those who forecast the break-up of the euro to unhinged doomsayers. Asked about the possibility of the end of the single currency, he said: “I remember as a student going to the centre of London and seeing on the main shopping street a man wearing a sandwich [...]
France calls off its war of words with PM Cameron December 22, 2011 FRANCE has waved the white flag across the Channel as Alain Juppé, the French foreign minister, called off the “war of words” with the British government. A string of slurs has been directed at Parliament from Sarkozy’s team lately, prompted by Cameron comparing France’s economy to that of Greece, and his recent veto of a [...]
