World’s largest publicly traded hedge fund limits bosses’ annual cash bonuses at up to 250% of
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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...
Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday
Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...
UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...
Eurozone crisis live: Japan's strong growth figures... PM Shinzo Abe's stimulus package could generate feelgood factor needed to end two decades of stagnant growthPhillip Inman
Peregrine CEO Wasendorf, who admitted to stealing clients’ funds, sentenced to 50 years in prison.
Continue reading here: Ex-commodities firm chief sentenced to 50 years
DDD Group plc (AIM: DDD; OTCQX: DDDGY), the 3D solutions company, confirms that the previously announced exercise request of Dr. Sanji Arisawa was completed effective 27 December 2012. Dr. Arisawa exercised options over 200,000 ordinary shares of 1p each in the Company (the “Ordinary Shares”) at an exercise price of 10p per share (together the “Option Exercise”). Following the Option Exercise, Dr. Arisawa’s interest in the Company stands at 1,889,200 Ordinary Shares or approximately 1.4% of the issued ordinary share capital and total voting rights in the Company. Dr. Arisawa is the Chairman of Arisawa Manufacturing Corporation Ltd. which currently owns 29,856,123 Ordinary Shares or 22.1% of the issued ordinary share capital and total voting rights.< ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
An Aberdeen-based oil and gas company agrees to hand over £5.6m after it admitted benefiting from corrupt payments.
See the rest here: Corrupt case oil firm pays £5.6m
UK Coal, which took over privatised mines, is to hive off property interests and split collieries into separate companies
Britain’s largest remaining coal mining business has reported a £20m first-half pre-tax loss and been forced to hatch a radical plan to try to pay off a £450m hole in its pension pot.
UK Coal, which inherited most of the privatised mines in England and Wales, is to hive off its property interests and divide its collieries into self-standing companies.
Bank debt is to be lifted off the mining business under an agreement with financiers that must be still endorsed by shareholders. Management is also hoping to reverse a vote by staff against new streamlined working conditions at the closure-threatened Daw Mill mine in Warwickshire (above).
Jonson Cox, chairman of UK Coal, admitted the total pension liabilities of the business now stood at £900m but he remained confident the £450m deficit could be filled, even if Daw Mill has to close.
He admitted the division into separate companies was designed to ensure that the financial collapse of one mine would not bring down the rest, and the pension deficit must be paid off by revenues produced from these operations which may only run for another 10 years at most.
The company, which has three deep mines and a number of open cast operations, has seen its production slump from 4.1m tonnes to 3.3m over the same period of 2011 due to geological and operational problems at Daw Mill and Thoresby in Nottinghamshire. In the first six months of 2011, UK Coal reported a profit before tax of £22m.
Jessica Harper took money over four years while head of fraud and security for digital banking at Lloyds Banking Group
A former Lloyds bank boss in charge of online security has admitted a £2.4m fraud.
Jessica Harper took the money over a four-year period while working as head of fraud and security for digital banking at Lloyds Banking Group.
Harper stood in the dock at Southwark crown court, in London, and admitted a single charge of fraud by abuse of position by submitting false invoices to claim payments totalling £2,463,750.
She also admitted a single charge of transferring criminal property, the money, which she had defrauded from her employers.
The 50-year-old, from Croydon, south London, carried out the fraud between 28 December 2007 and 21 December 2011, the court heard.
Antony Swift, prosecuting, did not open the facts of the case.
Carol Hawley, defending, said Harper was in the process of selling her £700,000 home to repay some of the stolen cash and was due to exchange contracts on Tuesday.
She will be sentenced at a later date.
Hawley applied for bail for Harper but Judge Nicholas Loraine-Smith deferred a decision until retiring to consider the matter.
Harper was allowed to leave the dock in the courtroom but ordered not to leave the building.
Japan’s Nomura is told to bolster internal controls by the country’s regulators after it admitted some staff were guilty of insider trading.
Here is the original post: Nomura punished for trading flaws
Category : Stocks
New York Times
Columbia University: Would-be Obama assassin never admitted to medical school …
BIRMINGHAM, Ala. — An Uzbek man who pleaded guilty to plotting to assassinate President Barack Obama was never admitted to Columbia University's medical school, the university said Saturday, contrary to defense claims before he was sentenced to more …
Columbia Univ.: Would-be assassin never admitted
Documents released Friday show a Barclays official admitted to the New York Federal Reserve in April 2008 that the bank was under-reporting interest rates used to calculate the key Libor rate.
Follow this link: Barclays admitted false Libor reports to Fed in ’08
The Chancellor George Osborne has admitted he got it wrong with his cap on tax relief on charitable giving in the Budget. Former Conservative chancellor, Lord Lawson, gives his view on the issue.
Read the original here: AUDIO: Lawson ‘delighted’ over tax U-turn