Cluff Gold makes Yaore discovery June 20, 2012 Cluff Gold yesterday unveiled “significant” drilling results from its Yaoure project in the Ivory Coast. The findings further confirmed the area’s potential, according to Cluff. The firm said that it is now increasing the number of diamond drill rigs on site from three to four, in order to test the upside potential of the site.
Four banks win judicial review of SFO’s order June 20, 2012 THE SERIOUS Fraud Office suffered a fresh knock yesterday as four banks won a court case blocking its attempts to seize documents linked to a derivatives probe in Italy. JP Morgan, Deutsche Bank, UBS and Depfa Bank won a judicial review against the SFO and the home secretary, quashing the watchdog’s request for papers that [...]
Prime London house prices to grow six per cent June 20, 2012 PRIME CENTRAL London residential house prices will grow by six per cent this year in stark contrast to the rest of the UK, new research from CBRE shows. The property specialist said average house prices in London’s top postcodes have grown by 35 per cent over the last three years and are now 16 per [...]
SEC chair fights for tighter regulation June 20, 2012 SECURITIES and Exchange Commission chairman Mary Schapiro will brief Congress today on her case for tightening the regulation of money market funds, arguing they remain a threat to the economy. In testimony prepared for a Senate Banking Committee hearing, Schapiro argues that reforms put in place in 2010 after a run on some funds in [...]
Creditors of Fitness First approve rescue June 20, 2012 UK GYM chain Fitness First has avoided administration after creditors yesterday backed plans to restructure its lease agreements, the company said, prompting the sale of around half of its UK gyms and a £600m debt write off. Creditors overwhelmingly approved a Company Voluntary Arrangement (CVA) – which lets a company with debt problems reach a [...]
Social network LinkedIn plays down lawsuit brought in the wake of online password leak June 20, 2012 THE SOCIAL networking site LinkedIn has talked down a $5m (£3.18m) lawsuit after Russian hackers leaked members’ passwords. Earlier this month, 6.5m passwords for the website were hacked, and the lawsuit claims LinkedIn cut corners on security measures. The network is the largest professional one of its kind and holds the private information of over [...]
Apprentice star Saira Khan goes back to school June 20, 2012 HATS off to Saira Khan, the TV presenter and business-woman who has just completed a tour of 72 primary schools with the BBC. The former Apprentice star has been teaching children about business and showing them how to think about cash flows, profits and marketing techniques. Tomorrow she is visiting Gillespie Primary School in Arsenal [...]
Deloitte takes to the saddle June 20, 2012 A team from Deloitte is taking to the saddle to tackle the CARE Gold bike ride on Sunday for poverty relief charity CARE International. The ride follows the Olympic route, which measures about 130 miles. The Deloitte team says it is motivated by CARE’s work, tackling poverty in 87 countries, “We are keen to support [...]
BoJ may raise QE to combat weak Eurozone June 20, 2012 MONETARY easing could be on the way, Bank of Japan minutes suggested yesterday, as the country recorded its first ever current account deficit with the EU. Governor Masaaki Shirakawa warned in a speech yesterday that though “major turmoil has been avoided following the outcome of the Greek election…Greece is pressed to implement fiscal and structural [...]
Bank official: Hedge funds face risks from regulators and Grexit June 20, 2012 HEDGE funds could face more regulatory difficulties on the near future as governments increasingly step into markets to control capital flows and promote stability, top Bank of England official Robert Jenkins said yesterday. “The days of instant market pricing and limitless liquidity may be fading,” the financial policy committee (FPC) member warned a group of [...]
