Osborne pledges joint action over corporate tax avoidance November 5, 2012 GEORGE Osborne vowed to clamp down on corporate tax avoidance yesterday, calling for “concerted international co-operation to strengthen international standards for corporate tax regimes”. The chancellor’s statement, delivered in tandem with German finance minister Wolfgang Schäuble at a G20 meeting in Mexico yesterday, came as officials from HM Revenue & Customs (HMRC) were grilled by [...]
HSBC warns bill for laundering may rise higher November 5, 2012 HSBC might have to hike its provisions for US fines for allowing money laundering, the bank said yesterday, as the final cost could rise well above the $1.5bn (£939m) it has set aside so far. Poor controls meant Mexican drug dealers used HSBC – without the bank’s knowledge – to launder money. Chief executive Stuart [...]
Investment bank staff shake up now spreads to Morgan Stanley November 5, 2012 JP MORGAN and Morgan Stanley both changed their top investment banking teams yesterday, while Goldman Sachs added a new director to its board. Morgan Stanley’s Paul Taubman stood down, ending a two-year stint of co-heading the bank’s securities division. Colm Kelleher, the other co-head, is staying in charge of the trading and banking unit. And [...]
S&P is guilty of misleading investors in Oz November 5, 2012 AUSTRALIA’S Federal court issued a landmark judgment yesterday that Standard & Poor’s misled investors by giving its highest rating to derivatives that lost almost all their value in the run-up to the 2008 global economic crisis. The Australian case marked the first time a ratings agency had faced trial over the complex financial products widely [...]
Murray learns his lesson to recover and beat Berdych November 5, 2012 US OPEN champion Andy Murray revealed that the memory of last week’s surprise defeat to Poland’s Jerzy Janowicz at the Paris Masters inspired him to yesterday’s 3-6, 6-3, 6-4 victory over Tomas Berdych at the ATP World Tour Finals in London. In his first fixture in Britain since becoming a Grand Slam winner, Murray had [...]
Compton finds form in opener duel with Root November 5, 2012 UNCAPPED batsman Nick Compton insisted laughter proved the best medicine for his early-tour struggles after finally finding form with a half-century as England drew their warm-up match in India against Mumbai A. Somerset’s Compton, vying with Joe Root of Yorkshire for the right to partner captain Alastair Cook at the top of the order, hit [...]
Wenger worried by Arsenal slump with hopes of revival hit by Walcott illness November 5, 2012 ARSENAL manager Arsene Wenger admits his side’s slump in form is worrying him but has challenged the Gunners to summon a change in fortunes in their hardest Champions League fixture so far this season. Wenger’s men face Schalke tonight having lost three of their last five Premier League games and after needing a comeback of [...]
Poulter for a Major and why I’d ban belly putters November 5, 2012 RYDER Cup star Ian Poulter reminded everyone that he is far from being just a great matchplay competitor with a fantastic win at the WGC Champions event in China on Sunday. Poulter had some catching up to do after the first two days but produced successive rounds of 65 to overtake the likes of fellow [...]
You should respect me, blasts Mancini, as City face European night of destiny November 5, 2012 MANCHESTER City manager Roberto Mancini lashed out at perceived disrespect yesterday as the Italian prepared for tonight’s must-win Champions League visit of Ajax. Mancini banged his hand on the table and admonished reporters who asked about a mooted deal for him to take charge of Monaco in the summer, had he been forced out of [...]
Odemwingie double leaves Southampton fighting for life after hitting rock bottom November 5, 2012 WEST BROMWICH ALBION 2 vs SOUTHAMPTON 0 SOUTHAMPTON’S sorry return to the Premier League continued as the concession of the 27th and 28th goals of their league season last night at West Brom ensured that they remain bottom of the table. Pressure had already unfairly been mounting on manager Nigel Adkins, who had overseen two [...]
