Fraud involving company heads on the increase June 19, 2011 COMPANY bosses, including those working at the highest level in chief executive or managing director’s offices, are increasingly committing more fraud, according to a report out today. The survey by accountants KPMG found that board members at divisional, subsidiary and corporate level across the world commit nearly one fifth of all fraud cases. The level [...]
City panel says UK should not lift aid funds June 19, 2011 VOICE OF THE CITY THE MAJORITY of the City is against the coalition government’s plans to increase international aid contributions by a third, according to the results of our latest Voice of City poll, run in association with PoliticsHome.com. Despite 67.1 per cent of respondents saying they were “very favourable” or “somewhat favourable” towards the [...]
Marubeni considers North Sea retreat June 19, 2011 A JAPANESE trading conglomerate is the latest firm to consider leaving its oilfield in the North Sea following George Osborne’s 12 per cent tax hike on the industry. Marubeni Corporation has put up for sale all but one of its North Sea oilfields, according to a weekend report. It is said to have hired Standard [...]
Premier in bid for BP field June 19, 2011 British oil firm Premier Oil has made an offer to buy BP’s stake in the Wytch Farm oil field in south west England, according to weekend reports. BP said in May it had agreed to sell its interests in Wytch Farm and surrounding oil fields in Dorset to privately-held Perenco in a $610m (£376m) deal, [...]
More tech firms vie for Nortel June 19, 2011 Apple, Intel and Ericsson are vying, along with Google, to buy patents from bankrupt telecom maker Nortel Networks in a sale slated for later this month. Nortel announced it was delaying the sale of about 6,000 patents and patent applications until June 27 after the Canadian company said previously it would hold the sale today. [...]
Airbus pulls plane from display June 19, 2011 Plane maker Airbus said yesterday it was pulling one of its flagship double-decker A380s out of a flying display at the Paris Air Show, compounding a series of embarrassing hiccups for the EADS (EAD.PA) unit at this year’s big-ticket industry event. The right-hand wing-tip of the A380, the world’s largest jetliner with a wingspan of [...]
Telemetry to sell stake June 19, 2011 THE founders of online advertising analysis firm Telemetry are set for a £35m windfall as they prepare to sell just over a fifth of the firm. Russell Irwin, Anthony Rushton and Beau Chesluk will each rake in around £11.6m from the sale, with Goldman Sachs and Credit Suisse understood to be in talks with the [...]
Betfair pays horse racing board £6m June 19, 2011 BETFAIR has become the first major bookmaker to hand over a voluntary payment to the Horserace Betting Levy Board after moving its base abroad. UK-based operators are legally obliged to make a substantial payment in order to help preserve the sport but Betfair was exempt after relocating to Gibraltar earlier this year. It handed over [...]
Sega falls victim to hack attack June 19, 2011 SEGA, the maker of the Sonic the Hedgehog video game yesterday admitted hackers have stolen information on 1.3m of its customers. The cyber attack allowed online thieves to make off with names, birth dates, email addresses and encrypted passwords of users of its Sega Pass online network. Sega now joins an unenviable roll call of [...]
Maplin is off the market June 19, 2011 THE sale of Maplin Electronics is understood to have been put on hold after a trio of private equity suitors failed to meet its owner’s valuation. Maplin, owned by Montagu Private Equity, has been hit by the high street downturn, which has been particularly tough for electronics retailers. It is thought Montagu will keep hold [...]
