Games strikes face injunction July 24, 2012 THE HOME Office is mounting a last-gasp attempt to block planned strike action by border workers during the Olympics, it emerged yesterday. “Procedural errors” in the strike ballot could be used in support of an injunction to halt the industrial action due to start tomorrow. The PCS union has said thousands of public sector workers, [...]
Boss of Anglo Irish charged July 24, 2012 FORMER Anglo Irish Bank head Sean FitzPatrick was charged yesterday over his part in Ireland’s most expensive bank failure, making him the highest profile banker to face prison in connection with his country’s financial meltdown. FitzPatrick, the face of Ireland’s banking crisis after serving as Anglo chief executive during its rapid rise and chairman during [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 24, 2012 FINANCIAL TIMES Green energy compromise reached Wind investors will escape deep cuts to subsidies but the coalition will not commit to tough new targets for decarbonising British electricity generation under a compromise deal thrashed out between George Osborne and Ed Davey, the energy secretary. Under the agreement, to be announced today in parliament, Mr Davey [...]
Major powers for Salz inquiry into Barclays July 24, 2012 TOP LAWYER Anthony Salz will have free rein to speak to staff and examine company documents in his inquiry aimed at cleaning up Barclays’ culture in the wake of the Libor scandal, the bank revealed yesterday. The former Freshfields senior partner has roughly nine months to investigate what went wrong at the bank and to [...]
PROFILE: ANTHONY SALZ July 24, 2012 ANTHONY Salz, appointed yesterday to lead the investigation into staff culture at Barclays, has a long record in City law, banking and public works, as well as experience of leading reviews into voluntary regulation at private firms. After 30 years as a corporate lawyer at Freshfields, including 10 years as senior partner, in 2006 Anthony [...]
Deutsche Bank reveals slump in profit due to euro weakness July 24, 2012 DEUTSCHE Bank rushed out a profit warning yesterday afternoon, and became the latest global investment bank to reveal weak second quarter pre-tax profit, as the flagging euro and lower trading activity hit earnings. Preliminary figures released yesterday ahead of Deutsche’s planned 31 July reporting date showed the bank expects quarterly pre-tax profit of about €1bn [...]
WOMEN TAKE MORE SEATS ON FTSE 100 BOARDS July 24, 2012 THE proportion of women on the boards of FTSE 100 firms has risen to 16.7 per cent from 12.5 per cent in 2011, according to new figures from the Department of Business. The news will add steam to business secretary Vince Cable’s insistence that quotas to force board diversity are unnecessary. Recent appointments include Lucinda [...]
Rosneft returns to BP with offer for Russian arm July 24, 2012 A YEAR and a half after it sparked a £10bn row, Rosneft has waded back into the dispute between BP and its Russian partners by offering to buy half of their joint venture, TNK-BP. BP said yesterday it had entered formal talks with state-owned Rosneft to sell its 50 per cent holding in TNK-BP. Last [...]
Brooks and Coulson to face charges over phone hacking July 24, 2012 DAVID Cameron’s former head of communications Andy Coulson and ex-News International chief executive Rebekah Brooks are to face criminal charges in relation to phone hacking offences, it was announced yesterday. The Crown Prosecution Service (CPS) alleges that 600 people were targeted between 2000 and 2006. Brooks and Coulson face specific charges of conspiring to intercept the voicemails [...]
EU and Google agree outlined antitrust deal July 24, 2012 GOOGLE has agreed on the basis of an antitrust settlement with the EU, it emerged last night. The EU’s competition commissioner Joaquín Almunia has accepted proposals from the internet giant on changes to the way it ranks its search results. Although the deal has not been finalised, developments have opened the door for Google to [...]
