China’s Fortune Oil buys into LNG rival Everthriving Energy

first_img Share KCS-content whatsapp FORTUNE OIL has struck up an agreement with Everthriving Investment to acquire 65 per cent of the share capital in three of the Chinese company’s subsidiaries.Under the agreement, Fortune Oil will make an initial payment of £9.71m and a deferred payment of £4.64m for a large stake in Everthriving’s Energy Technology, Logistics and Plastics Technology subsidiaries.Fortune Oil will make the acquisition through a newly incorporated subsidiary, Fortune Gas Technology, with hopes that the entire acquisition will be complete by March 2011. Tee Kiam Poon, Fortune Oil chief executive, said: “These strategic acquisitions add to our portfolio of LNG and gas projects and, particularly in the conversion technologies, will move [us] up the technology ladder, enhance our competitive advantage, and develop our capabilities.”Fortune Oil will be entitled to 65 per cent of the profits and capital from all three companies, once the deal closes. Last year, one of the subsidiaries drew in net profit of £2.14m on a turnover of £3.72m. whatsapp Show Comments ▼ China’s Fortune Oil buys into LNG rival Everthriving Energy Wednesday 1 September 2010 8:20 pm Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Tags: NULLlast_img read more

ANALYST VIEWS: WILL DANA’S DEFENCE CHANGE THE COURSE OF THE BATTLE

first_img Show Comments ▼ KCS-content ANALYST VIEWS: WILL DANA’S DEFENCE CHANGE THE COURSE OF THE BATTLE Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof KEITH MORRIS | EVOLUTION SECURITIESOn first reading of the document, the main defence centres upon an independent expert’s valuation of the existing assets at £21.20 per share and the potential for exploration prospects to quadruple reserves by full-year 2012. Like Venture’s defence document against Centrica, though, we believe it will prove futile.DAVID HART | WESTHOUSE SECURITIESThe market hasn’t interpreted the document as a significant addition to the argument. KNOC now has to stand back and say it doesn’t contain anything we weren’t including in our offer, so £18 per share stands. On the other hand, they may want to make the transaction quicker and smoother and sit down with?Dana.DAVID BUIK | BGC PARTNERSThe chance of getting a better offer from the Koreans would be a fine thing. In the circumstances it’s a fair offer and I can’t see any particular reason why they should up the ante. There is strong shareholder support for the takeover as it is, and we would have seen the share price surge if people thought otherwise. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Adscenter_img Wednesday 8 September 2010 8:06 pm Tags: NULL whatsapp whatsapp Sharelast_img read more

Chinese set to eat up United Biscuits deal

first_img Tags: NULL Chinese set to eat up United Biscuits deal whatsapp whatsapp Share Show Comments ▼center_img KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com MCVITIES manufacturer, United Biscuits (UB) is in talks with one of China’s largest food groups about a possible takeover that could value the British company at almost £2.5bn. The Shanghai-based foods group Bright Food yesterday confirmed that it was in talks with UB to pen a deal that would potentially hand the Chinese group a large chunk of the British food industry.If the two agree a deal, Bright Food will acquire UB, which is also behind brands such as Hula Hoops, McCoys and Twiglets, from private equity owners Blackstone and PAI.It is understood that Bright Food has turned to Rothschild for financial advice.UB was put up for sale in July after Blackstone and PAI hired Goldman Sachs and JP Morgan to prepare for an auction of the business. The two bought the food company in 2006 for £1.6bn.Already a number of bidders have expressed interest in UB, including New Jersey-based Campbell’s.In August, Campbell’s, which manufactures canned soup and pasta sauces, emerged as a lead bidder for UB. The US company, however, was just interested in UB’s biscuits business and not its snacks operation.Food giants Kraft, Kellogg’s and PepsiCo were also thought to be interested in UB, as well as India’s Britannia. UB, which was founded in 1948, last year saw profits rise by 13.4 per cent to £223.4m. It has annual revenues of £1.3bn and net debt of £1.2bn.Bright Food, meanwhile, last year generated roughly £200m in profits on sales that reached £4.3bn. Its brands include Big White Rabbit candy and Shikumen yellow wine.Despite the fact it is already foreign owned, a possible deal with Bright Food is likely to spark concern over the future of UB’s British employees and could trigger interest from the interventionist Vince Cable.FAST FACTS | UNITED BISCUITS● Profits reached £223.4m last year.● Sales reached £1.26bn last year.● Net debt reached £1.2bn last year.● Manufactures: McVities, Jaffa Cakes, McCoys, Twiglets, Hula Hoops and Phileas Fogg. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily Proof Sunday 26 September 2010 10:47 pmlast_img read more

Amazon beats profit predictions but falls on extra operating costs

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeGenius-Story.comTop 16 Most Beautiful Indian WomenGenius-Story.comUnleashed FinanceOur Jaws Dropped At Aircrew’s Shocking Find On Deserted IslandUnleashed FinancealldelishHere is what happens to your body when you start eating 2 eggs every dayalldelishYour Money Magic96-Year-Old Puts Her House For Sale. Look How It Looks InsideYour Money MagicChocolate.comCaitlyn Jenner No Makeup Photos Confirm the RumorsChocolate.comGive It LoveHilarious Photos Of Animal Parents With Their ChildrenGive It LoveFoodmzIf You Eat 3 Dates Every day For 1 Week This Is What Happens To Your BodyFoodmzNew ArenaThe People Have Spoken: Here Are The 25 Dumbest Dog Breeds According To Pet OwnersNew Arenahttps://trendybuzz.club7 Things That Happen To Your Body If You Sleep on Your Left Sidehttps://trendybuzz.club whatsapp KCS-content Show Comments ▼ Thursday 21 October 2010 9:05 pm THE WORLD’S biggest online retailer, Amazon, beat Wall Street expectations with its results yesterday, though shares fell as it announced higher than expected costs in the run-up to the Christmas rush. Revenue soared 39 per cent for the third quarter to $7.56bn (£4.81bn), though operating expenses also rose 40 per cent to $7.29bn. Pre-tax profit rose 16 per cent to $231m.The company did not reveal sales of its flagship Kindle reader, but said the device remains its best-selling item in both America and the UK. The company is adding to its customer service, IT and advertising in the fourth quarter. US shares had closed up three per cent, but fell more than four per cent to $157.89 after hours. Amazon shares have risen over 30 per cent this year. Tags: NULLcenter_img Amazon beats profit predictions but falls on extra operating costs whatsapp Share Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wraplast_img read more

Strong GDP growth dashes chances of further QE

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMike HistoryAt 66, This Is Bruce Willis’ Private CarMike HistoryStyleVamp10+ Normal People Who Astonishingly Look Like CelebsStyleVampBewadaHusband Divorced His Wife After Looking Closer At This PhotoBewadaAmoMediaMan Leaves Wife For Her Sister, Her Revenge Is BrilliantAmoMediacutenova.comTake a Peek at 10 of the Most Expensive Houses in the Worldcutenova.comHealth.recetasgetHeart Attack Early Warning Signs and SymptomsHealth.recetasget5log – Livinguard®This mask has been sold out in Germany 5 days after the government has tighten up5log – Livinguard®DinnerZUTop 5 Foods That Help Lose Weight FastDinnerZUBuzzDestination7 Types of Men Who Are Not Made For RelationshipsBuzzDestination Strong GDP growth dashes chances of further QE Share THE UK’s unexpectedly strong growth last quarter will mean the Bank of England will keep the presses off and delay any restart to quantitative easing (QE), according to City economists. Preliminary growth figures released yesterday showed that the economy smashed consensus forecasts of 0.4 per cent to surge 0.8 per cent from July to September. The news prompted numerous City economists to up their growth forecasts for 2010 to around 1.7-1.8 per cent.Above-trend growth coupled with above-target inflation will leave the Bank with little reason to resume asset purchases, strengthening Andrew Sentance’s hawkish stance that the Monetary Policy Committee (MPC) should instead raise interest rates. Barclays Capital’s Simon Hayes says: “It will be difficult to motivate monetary loosening this month – it’s off the cards for the rest of 2010.”But with PMI surveys trending downwards and the housing market uncertain, the fourth quarter is widely expected to bring a slowdown and renewed calls for QE. IHS Global Insight’s Howard Archer says that it remains “a serious possibility should growth slow markedly over the coming months”.Critics suggest that it is not clear that QE would effectively stimulate the economy, especially with high levels of inflation but chancellor George Osborne has made it clear that he would support a decision by the Bank to complement fiscal cuts with monetary expansion. KCS-content Show Comments ▼center_img Tuesday 26 October 2010 8:50 pm whatsapp whatsapp Tags: NULLlast_img read more

Larry Fink says euro will drop to $1.20 level

first_img Larry Fink says euro will drop to $1.20 level KCS-content Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndo Show Comments ▼ More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Sunday 28 November 2010 9:22 pmcenter_img whatsapp LARRY Fink, the founder of BlackRock, has warned the euro will depreciate “considerably” against the dollar, to $1.25 or $1.20, as a result of the Eurozone crisis. Fink said the dollar would have been even stronger were it not for the US Federal Reserve’s decision to begin another round of quantitative easing. He said the euro would continue to take a battering because of the “fundamental problem” that the banking sector owns the bulk of European sovereign credit. Fink added Eurozone banks and nations should reduce their reliance on short-term funding. Share whatsapp Tags: NULLlast_img read more

Attendances in Hollywood take a dive in 2010

first_img whatsapp Attendances in Hollywood take a dive in 2010 KCS-content More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.com whatsapp Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmcenter_img Tags: NULL Show Comments ▼ LAST year proved a disappointing year for Hollywood, when higher prices for 3D movies failed to offset a decline in attendance.The number of tickets sold in 2010 slid about 5.4 per cent from 2009, according to box office analysts at Hollywood.com. It marked the biggest percentage drop since 2005 when attendance tumbled 8.1 per cent.Overall ticket sales were flat at about $10.6bn (£6.85bn), marking the first time since 2008 that sales failed to improve upon the previous year, Hollywood.com said.Studios charged moviegoers an extra few dollars to see films in 3D ranging from the hit “Alice in Wonderland” to the bomb “Piranha.”But fans and critics carped that the picture quality for some 3D movies did not justify the premium pricing, while parents faced an even steeper tab for a family outing.All three of the 3D movies in the weekend top 10 — Tron: Legacy, Yogi Bear and Disney’s Rapunzel cartoon Tangled — were aimed at families, although only Tangled is a big hit with sales to date of $168m.Tron: Legacy, a sci-fi reboot also starring Bridges, has earned $130.9 m after three weekends but it cost about $170m to make. Monday 3 January 2011 10:55 pm last_img read more

GOOGLE’S GOLDEN GOODBYE

first_img Tags: NULL Sunday 23 January 2011 10:35 pm Google will give a $100m (£62.5m) equity award to Eric Schmidt (right) as he hands over the chief executive officer job to co-founder Larry Page (left), and takes on the role of executive chairman. The award will include stock units and options and will vest over four years. The news follows the disclosure that Google reported earnings and revenue above expectations. whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search Ads KCS-content Show Comments ▼center_img More From Our Partners UK teen died on school trip after teachers allegedly refused her pleasnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPuffer fish snaps a selfie with lucky divernypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com GOOGLE’S GOLDEN GOODBYE Share whatsapplast_img read more

Morgan Stan’s Ahmed linked with Galleon

first_img Share Morgan Stan’s Ahmed linked with Galleon Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp MORGAN Stanley banker Kamal Ahmed has been named in the US government’s investigation of Galleon Group hedge fund manager Raj Rajaratnam for insider trading.Court charges filed by US prosecutors on Friday accuse a banker identified as Ahmed of leaking sensitive information about Advanced Micro Devices’ takeover of ATI Technologies in 2006. It is the first time a Wall Street banker has been implicated in the alleged insider dealing ring.Ahmed allegedly told a third party about the deal, who told Rajaratnam, the filing said. While a redacted letter released to the public blanked out the banker’s name, Morgan Stanley has placed Ahmed on leave and he is being represented by Baker & McKenzie lawyer Douglas Tween.Sources told City A.M. yesterday that Morgan Stanley had conducted an internal investigation into the allegations but had found no evidence against Ahmed. “Nothing has come out of that,” one said. Ahmed, who joined Morgan Stanley in 2000, has not been charged with any wrongdoing.Morgan Stanley spokesman Pen Pendleton said Morgan Stanley was “fully co-operating with the government’s investigation.” “If proven to be true, the alleged conduct would be a violation of Morgan Stanley’s values and policies,” he said.Sri Lankan-born Rajaratnam, founder of the Galleon Group, is to be tried next month on charges of conspiring to commit securities fraud in the biggest case of insider trading involving hedge funds in US history.FAST FACTS | RAJ RAJARATNAMFounded the Galleon Group in 1997.Worth $1.3bn in 2009 according to Forbes.Arrested in October 2009 by US Attorney for allegedly buying inside information on stocks.Allegedly made $36m (£22.5m) from fraud. Show Comments ▼ Monday 24 January 2011 8:41 pm whatsapp KCS-content Tags: NULLlast_img read more

Introductionto Bribery laws delayed

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Adsautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com whatsapp Monday 31 January 2011 8:27 pm KCS-content whatsapp Introductionto Bribery laws delayed center_img GOVERNMENT guidance on the Bribery Act will not be released this week as expected, pushing back implementation until at least May. A Ministry of Justice spokesman told City A.M. that the guidance had been delayed to allow “more time … to make sure the Act is fit for purpose and as comprehensive as possible,” directly addressing accusations levelled at the law earlier yesterday by incoming director-general of the CBI, John Cridland. “The regulation is not fit for purpose,” said Cridland, speaking on Radio 4’s Today programme. “None of the definitions have been properly defined.” Once the government’s revised guidance is released there will be a three-month gap before the legislation comes in, pushing implementation beyond the planned April deadline. Business groups have been lobbying hard for the government to review the Act, with concerns raised over how corporate gifts will be treated under the rules. Hospitality has been a particular sticking point for City firms, which want detailed guidance on exactly what will be acceptable to offer to clients. Concern is likely to gain momentum as summer sports timetables get underway, with corporate packages to the London Olympics in 2012 high on the list of gifts that companies are keen to get clarity on.But despite the temporary reprieve offered by the delay advisers are warning that businesses should still be preparing now for the Act. “Companies are ill-advised to delay their preparations,” said PricewaterhouseCoopers partner Andrew Gordon. “Putting adequate procedures in place takes longer than companies realise.” Show Comments ▼ Share Tags: NULLlast_img read more