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Is Ferrero out of the Cadbury picture?
Italian confectionery giant Ferrero is said to have ruled out a potential offer for UK competitor Cadbury. There were hopes that the company would team up with US outfit Hershey and present a "white knight" offer to the Cadbury board to head off the onslaught from Kraft Foods. While the rumours regarding Ferrero dropping out of the bidding have yet to be officially confirmed, those close to the co...
Read MoreHow would life be under an EU regulator?
As the EU looks to grab more and more power from the London financial markets many people are now starting to wonder exactly what life would be like under an EU regulator. The fact that people are actually beginning to wonder about the future should start alarm bells ringing within the UK government, the UK financial sector and UK regulators.
As we have mentioned in one of our earli...
Prudential confirms worst kept secret in town!
The Prudential has today officially confirmed that the acquisition of AIG's Asian operations is dead and buried and the deal has been terminated. An announcement this morning confirmed that Prudential will pay AIG £153 million as part of a break fee agreement with costs for the abortive bid set to total in the region of £450 million. This has been a complete disaster for Prudential and many anal...
Read MoreStandard Life hit by £2.45 million fine
UK investment outfit Standard Life was today hit with a £2.45 million fine after being found guilty of misrepresenting the risks of an investment fund to customers. The £2.2 billion investment fund was investigated by the Financial Services Authority (FSA) after complaints from investors who believed they were investing in cash when much of the fund was actually held in riskier floating rate not...
Read MoreHSBC breaks the mould with a $5 billion small-business fund
HSBC has today broken the mould in the UK banking sector after announcing a special small-business fund with in excess of $5 billion available. The fund will be used exclusively to increase liquidity for small businesses worldwide with in excess of £1 billion ear-marked for the UK. Many people are seeing this as a wake-up call for the rest of the sector with more and more small businesses sufferi...
Read MoreBarclays bank under pressure regarding remuneration packages
Bob Diamond and John Varley, the two top men at Barclays bank, are today the centre of press focus after the company revealed future remuneration packages for the two. Bob Diamond, the head of Barclays capital, will be on a basic salary of £384,000 a year although with various perks and share entitlements this could multiply by around 150 times! It was only last year that Bob Diamond earned ju...
Read MoreWill Bernard Madoff be the last of the great fraudsters?
As Bernard Madoff contemplates 150 years behind bars in the US many people are wondering whether the U.S. regulators have finally purged the system of the big-time fraudsters. The Madoff fraud involved billions upon billions of US dollars and has seen many people literally lose their life savings and end up with nothing to show for their working lives. While the U.S. regulators were relieved that...
Read MoreFSA looking to push through market abuse cases
A number of lawyers in the city of London have stepped forward to confirm that the FSA (Financial Services Authority) has significantly increased its urgency with regards to market abuse cases waiting to go to court. Whether or not this is true there is no doubt that the FSA has shown more successes over the last few months than over the last decade in an area of law which has been a minefield for...
Read MoreEven the rich and famous have been hit by the recession!
The famous Forbes Magazine Rich list of the world's billionaires has been drastically reduced after its release this week. In total 332 names have been taken off last year's list of world billionaires because the economic slump has severely impacted upon wealth around the globe. While there are still 793 billionaires on the list, each one has seen a reduction in the value of their assets by around...
Read MoreDomino's Pizza Beats The Gloom
As the price of living continues to spiral higher and higher it seems that more and more people in the UK are ordering takeaways rather than looking at a more expensive night at a restaurant. Figures from rising star Domino's Pizza show that demand for their services has never been higher with profits for the 6 months up a staggering 32% to £10.9 million.
Domino's Pizza has been o...