Court case on bonuses starts January 22, 2012 UNLESS a last-minute settlement can be reached, around 100 bankers will this week pitch themselves against Commerzbank, the part state-owned German lender, in a four-week London trial over €52m (£44m) in unpaid bonuses. The row, which returns to court amid increasing public anger over the size of bank payouts, will see Commerzbank chief executive Martin [...]
BAE Systems mulling future of warship business as part of a strategic review January 22, 2012 DEFENCE giant BAE Systems admitted yesterday it was considering the future of its Portsmouth-based warship business, after reports suggested the dockyard could be closed. BAE also owns yards where warships are built at Scotstoun and Govan, both on the river Clyde in Scotland. The Portsmouth site employs around 1,500 workers and the same again in [...]
UAE to liberalise trading in 12 core commodities January 22, 2012 THE United Arab Emirates cabinet said yesterday it would liberalise trade in 12 commodities, saying this would help market stability. “The 12 items that are being liberalised include livestock and dairy products, fats and oils, honey, eggs, fruit juices, salt, yeast, animal feed, detergents and hygiene products,” UAE Economy Minister Sultan bin Saeed al-Mansouri said. [...]
From Russia with love: cash flowing into London January 22, 2012 FROM the King’s Road to Royal Berkshire – football’s Russian revolution looks set to claim another victory this spring when Anton Zingarevich pours his cash into Reading. The Championship side is small in comparison to Roman Abramovich’s Chelsea but it is, at least, very near to London, which remains an affluent market and the spiritual [...]
Zingarevich: from paper millionaire to new Royal blue January 22, 2012 UNTIL the last few days, Anton Zingarevich had barely been heard of in Reading. The Russian is better-known on Merseyside, however, after he came close to taking a 40 per cent stake in Everton in 2004. The deal, through Fortress Sports Fund, never materialised, despite Toffees chairman Bill Kenwright hailing Zingarevich’s “encyclopaedic football knowledge”. Reading [...]
News Corp eyes bid for media in Turkey January 22, 2012 NEWS CORP has reportedly joined the queue of potential bidders for Sabah-ATV, the Turkish media set which has already garnered the attention of Time Warner. Comprising daily newspaper Sabah and television station ATV, Turkey’s second largest media group currently belongs to Calik Holding, the Turkish corporation led by Berat Albayrak – the Turkish prime minister’s [...]
Volvo hunting for partner to develop compact vehicles January 22, 2012 VOLVO Cars is hunting for a partner to share in the development of its compact models. Chief executive Stefan Jacoby, who took the helm at the Swedish brand when Volvo was bought by China’s Zhejiang Geely for $1.8bn (£1.16bn) in 2010, said a partnership would make sense for the relatively small carmaker to find economies [...]
French would-be president Hollande slams world of finance in key speech January 22, 2012 SOCIALIST challenger Francois Hollande, front-runner in the race to unseat French President Nicolas Sarkozy, declared war on the world of finance yesterday in a speech to 25,000 supporters, three months before the presidential election. The address, attended by Socialist Party top-brass and some showbiz celebrities, was more an exercise in presidential style than substance. Without [...]
Anti-Davos protesters charged January 22, 2012 Swiss police will charge more than 100 demonstrators with breaching the peace after they rallied in Bern to protest against the World Economic Forum that holds its annual meeting in Davos this week. The protesters, some wearing masks, began an unauthorised demonstration but were stopped by police in Bern, 270 km west of the Davos [...]
EU to propose tough web rules January 22, 2012 The European Union will propose tough new rules in the coming days on how corporations handle internet users’ personal data, a long-awaited move that could have far-reaching implications for web giants such as Google and Facebook. Viviane Reding, vice president of the European Commission, said yesterday that the new data-protection legislation was needed to protect [...]
