Business group warns that tighter listing rules won’t prevent future problems July 22, 2013 As Bumi shares have resumed trading today after three months of suspension, the Institute of Directors has warned that to tighten up listing rules would be a mistake, and unlikely to prevent another Bumi saga. Dr. Roger Barker, director of Corporate Governance and Professional Standards at the Institute of Directors: The fact that companies like [...]
Regulator fines high frequency trader nearly £600,000 for market manipulation July 22, 2013 For the first time ever, the Financial Conduct Authority (FCA) has taken action against a high frequency trader, and fined the US professional £597,993 for "deliberate manipulation of commodities markets". Michael Coscia is said to have placed false orders for Brent Crude, Gas Oil and Western Texas Intermediate (WTI) futures from the US on the [...]
The value of money has plummeted by two-thirds since Prince William was born July 22, 2013 Inflation has caused the value of money to fall dramatically since the year of Prince William's birth, in 1982. £100 in 2012 would be worth as much as £299 back then, according to research by Lloyds TSB Private Banking. The Cambridges may be thankful that they aren't toying with the property ladder, as the average [...]
Shell to ramp up production with two new deepwater projects July 22, 2013 Shell has announced that it will be moving forwards with two new deepwater projects at at Parque das Conchas and the Bijupirá/Salema fields (release). John Hollowell, executive vice president for Deep Water, Shell Upstream Americas: Offshore Brazil is a key part of our plans to grow our deepwater portfolio – a key component of our [...]
Mothercare shares see boost from Royal Baby fever July 22, 2013 Toddler chain Mothercare has seen its share rise this morning to as much as 474.25p (from a previous close of 466.5p) as news of the Duchess of Cambridge entering labour has broken. The company, which has produced a line of prince and princess themed products, is expected to benefit from a boom in baby interest. [...]
Before the open – 22/07 July 22, 2013 After US markets hit record highs on Friday, the FTSE is expected to rise on the open. ETX Capital #morningcall: FTSE100 up 9 points, the DAX higher by 27 points and the CAC40 up by 8 points — ETX Capital (@ETXCapital) July 22, 2013 Our macro data is rather light and all of a US [...]
Duchess of Cambridge enters early stages of labour July 22, 2013 Kensington Palace have confirmed that the Duchess of Cambridge has been admitted to hospital, and has entered the early the stages of labour. The Duchess of Cambridge travelled by car from Kensington Palace to the Lindo Wing of St Mary's Hospital with the Duke of Cambridge. — James Manning (@JamesManning4) July 22, 2013
Compulsory audit tenders could cost consumers quality, money and competition July 22, 2013 The Competition Commission (CC) has shied away from compulsory auditor switching, instead pushing for mandatory tenders every five years, in an attempt to break up the big four (PwC, Deloitte, Ernst & Young, KPMG). FTSE 350 companies should put their statutory audit engagement out to tender at least every five years. Companies may defer this [...]
Any Other Business – 22/07 July 21, 2013 As Royal baby watch continues, the Mayor of London Boris Johnson has given his two cents on a potential name: “I've always thought Boris is a nice name for a girl” he tweeted in an online Ask Boris session. He also weighed in on Prime Minister David Cameron’s favourite band. When asked what he thought [...]
ENRC begins legal proceedings against former director July 19, 2013 Miner ENRC has filed a legal claim in the High Court against a former non-executive director, Paul Judge (release). For breach of fiduciary duty to ENRC, relating to the disclosure of confidential information to the media and for the return of all confidential documentation in his possession. Gerhard Ammann, chairman of ENRC said: We have [...]
