Archives
Drug maker seeks to block competitor’s inversion
September 17th, 2014
Pharmaceutical company, Endo International, which struck an inversion last year and reincorporated in Ireland, tries to stop an inversion by Auxilium Pharmaceutical, a smaller rival. Endo made on Tuesday an unsolicited offer to buy Auxilium for $28.10 a share ...
SEC Obtains Asset Freeze Against Company in Turks and Caicos Islands
September 17th, 2014
The U.S. Securities and Exchange Commission (SEC) announced an emergency asset freeze against a company located in Turks and Caicos Islands in connection with its operation of a South Florida-based Ponzi scheme. The SEC’s request for the emergency asset ...
Oil Production 2014
September 17th, 2014
The world’s oil supply has shrunk considerably over the last few decades. Countries, mostly in the Middle East, with what seemed like a never-ending amount of oil, have begun limiting their exports. Some oil fields, such as the ones ...
Goldman Sachs revises price guidance on debut sukuk
September 16th, 2014
Goldman Sachs (GS.N) will complete a $500 million debut sukuk issue later on Tuesday, with price guidance tightened slightly from earlier indications due to strong demand from investors, a document from lead managers showed on Tuesday. The latest price ...
Russian ruble drops to historic low amid sanctions
September 16th, 2014
Russia’s currency dropped to an all-time low against the dollar on Tuesday as investors fret about the fallout of economic sanctions. The United States and the European Union last week imposed a new round of sanctions against Russia for ...
Accountant gets three year ban over audit failures
September 16th, 2014
A tribunal has excluded an ICAEW member from membership of the profession for three years following a Financial Reporting Council (FRC) investigation over audit failures. The accountant, Paul Newsham was a former partner, Sixthreeone Limited (formerly known as HWCA), ...
FCA bans and fines financial adviser with £300,000
September 16th, 2014
The Financial Conduct Authority (FCA) has concluded to ban and fine financial adviser, Peter Carron, with the amount of £300,000 after clients lost out investing in companies he controlled. Between 2004 and 2010, Peter Carron, formerly a senior partner at St ...
FCA warns against clone firm
September 16th, 2014
The Financial Conduct Authority (FCA), the British financial regulatory authority, has issued a warning against clone firm “DuPont Financial, DuPont FX & DP Global Services Ltd” (www.dupontfx.com). FCA warns investors that this clone company is not permitted to provide ...
Biggest Banks Said to Overhaul FX Trading After Scandals
September 16th, 2014
The world’s biggest banks are overhauling how they trade currencies to regain the trust of customers and preempt regulators’ efforts to force changes on an industry tarnished by allegations of manipulation. Banks have capped what employees can charge for ...
UBS and Goldman Sachs left red-faced by AngloGold Ashanti $2.1bn float flop
September 16th, 2014
Proposals for a new London-listed mining spin-off worth £3bn hit the dust yesterday, as shareholders at one of the world’s top gold miners revolted over a $2.1bn (£1.3bn) rights issue key to the massive restructuring. South Africa-based AngloGold Ashanti ...
