RAPID RESPONSES August 8, 2012 Anti-British bias [Re: Standard Chartered is the victim of US warfare against British banking, yesterday] John Mann is correct. US regulatory pressure is unfair, excessive, and unbalanced, and solely seeks to protect US self-interests. The UK government should protect British interests unequivocably. We shouldn’t fear the loss of the strategic partnership, especially if it is [...]
APPY Holidays August 8, 2012 ■ FOREVER MAP Part of the pleasantly growing number of offline apps, this rather awesome map by Skobbler brings you a super-advanced offline map for Europe, with fully interactive city and country maps covering the continent. Features include address search, location finder, route calculation and info on places of interest. £1.49 ■ ASK A NOMAD [...]
Apple smashes its retro telly August 8, 2012 So, that nice little icon with a retro telly you can see on the home screen of your iPhone? Yeah, that’s not going to be there for long. Apple has stepped up its feud with Google by removing its native support for YouTube in the next version of its mobile operating system. How much is [...]
INVESTORS DESERT STAN CHART STOCK August 7, 2012 ALMOST a quarter was wiped from Standard Chartered’s market value yesterday as the global banking giant hit back at US allegations it had schemed with Iran to hide $250bn (£160bn) worth of transactions. Shares in London dived 16.7 per cent after closing down almost 15 per cent in Hong Kong, as investors reacted to claims [...]
Deloitte’s US arm dragged into scandal August 7, 2012 THE US arm of Deloitte yesterday denied any wrongdoing in its dealings with Standard Chartered, after the advisory firm was accused of colluding with its client to conceal billions of dollars in transactions through Iran. “Deloitte Financial Advisory Services performed its role as independent consultant properly and had no knowledge of any alleged misconduct by [...]
Co-op boss Peter Marks to leave the firm in May August 7, 2012 CO-OPERATIVE Group chief executive Peter Marks, who rose from the shop floor to lead the supermarket group, yesterday announced he would retire from the business next May after six years at the helm. Marks, who led a deal in June to buy over 600 bank branches from Lloyds Banking Group, said it was “time to [...]
Most countries are responsible for the crisis – not just the UK August 7, 2012 REMEMBER sub-prime lending? Fannie Mae and Freddie Mac’s absurd backing of mortgages for those who couldn’t afford to pay the money back? The US government’s decision to promote sub-prime lending? The Federal Reserve’s crazy decision to inflate endless bubbles via excessively loose monetary policy during the good times, and its destructive commitment to step in [...]
EMI records loss due to buyouts August 7, 2012 EMI recorded an increase in sales yesterday and narrowed its pre-tax losses to £349m for the year to April as it wrote down the value of that were sold on to Universal and Sony. In an internal email chief executive Roger Faxon said the results showed “an incredibly strong performance against the backdrop of a [...]
S&P cuts Greek outlook further August 7, 2012 RATINGS agency Standard & Poor’s (S&P) revised it outlook on Greece to negative last night and said it would need more funds to prevent a default. S&P, which has a CCC rating on Greek sovereign debt, said the change reflected “the possibility of a downgrade” if Greece misses its targets and thus fails to secure [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 7, 2012 FINANCIAL TIMES Tea market strained as output falls The price of tea has jumped to a 2½-year high as poor crops in some of the world’s most important producers strain supplies. Dry conditions, poor rains and frosts have hit tea production in Kenya, the largest exporter of black tea. A bad monsoon has reduced production [...]
