Peter's Feed
Feb 10, 2012

UK’s Rothschild loses “puppet master” libel case

LONDON, Feb 10 (Reuters) – British financier Nathaniel
Rothschild lost a libel case on Friday against a newspaper that
depicted him as a “puppet master” who used his friendship with a
European trade chief to impress a Russian oligarch and help
close a business deal.

Rothschild sued the Daily Mail in London over a story that
gave a rare insight into the world of super-rich businessmen who
cross continents in private jets, dine in top restaurants and
relax together in saunas.

Feb 7, 2012

Riot report blames police tensions for unrest

LONDON (Reuters) – A breakdown of relations between the police and public, record youth unemployment and poverty were behind the violence in a deprived London district that led to Britain’s worst rioting in decades, a community-led inquiry found on Tuesday.

The report said those factors inflamed public anger sparked by the police shooting last August of a 29-year-old local man in Tottenham, northeast London six months ago.

Feb 3, 2012

Ex-UBS trader refused bail as bank probe deepens

LONDON, Feb 3 (Reuters) – Former UBS AG
trader Kweku Adoboli, who is accused of unauthorised deals that
cost the Swiss bank $2.3 billion, was refused bail by a London
court on Friday less than an hour after regulators stepped up
their probe into the scandal.

The Financial Services Authority (FSA) and the Swiss
Financial Market Supervisory Authority (FINMA) said they were
launching enforcement investigations, which depending on their
findings can be a prelude to actions such as fines or court
proceedings.

Jan 31, 2012

Libyan militia leader sues former UK spy chief

LONDON (Reuters) – A Libyan militia leader has begun legal action against a former senior British intelligence chief whom he accuses of playing a key role in illegally returning him to Libya to be jailed and tortured under Muammar Gaddafi, his London-based lawyers said.

Abdel Hakim Belhadj, who commands one of Libya’s most powerful militias, is seeking damages from Mark Allen, who was director of counter-terrorism at MI6, Britain’s foreign intelligence agency.

Jan 30, 2012

Ex UBS trader Adoboli denies fraud, faces trial

LONDON (Reuters) – Former UBS trader Kweku Adoboli will stand trial in September after pleading not guilty on Monday to charges related to the loss of more than $2 billion on trades the Swiss bank says were unauthorized.

The trial, which is likely to shine a searching light on the adequacy of the bank’s management and risk controls, could land Adoboli with a maximum 10-year jail sentence if convicted of the two counts of fraud and two of false accounting.

Jan 26, 2012

Revealed: Famous names who snubbed UK queen’s honors

LONDON (Reuters) – Receiving an honor from Britain’s Queen Elizabeth marks the pinnacle of many careers. But for more than 250 people named in a once-secret official document, the idea was so unappealing that they turned down the monarch’s offer.

Artist Lucian Freud, sculptor Henry Moore and “Charlie and the Chocolate Factory” author Roald Dahl all rejected honors, according to papers released by the British government on Thursday.

Jan 23, 2012

Bank of England accountability plan “falls well short” – MPs

LONDON (Reuters) – Bank of England proposals to overhaul its governing body as it prepares to receive broad new powers are inadequate and would hide officials from proper public scrutiny, an influential parliamentary panel said on Monday.

The central bank is poised to become the most powerful financial regulator under new laws drawn up by the coalition government to help avoid a repeat of the credit crisis of 2007-08.

Jan 23, 2012

BoE accountability plan “falls well short” – MPs

LONDON, Jan 23 (Reuters) – Bank of England proposals
to overhaul its governing body as it prepares to receive broad
new powers are inadequate and would hide officials from proper
public scrutiny, an influential parliamentary panel said on
Monday.

The central bank is poised to become the most powerful
financial regulator under new laws drawn up by the
Conservative-led coalition government to help avoid a repeat of
the credit crisis of 2007-08.

Jan 20, 2012

Government seeks to defuse anger over bosses’ pay

LONDON (Reuters) – Britain will set out plans next week to crack down on executive pay to try to address public outrage over huge wages for “fat cats” at a time of deep public spending cuts and fears of a looming recession.

Prime Minister David Cameron said a market failure during years of uncontrolled “turbo capitalism” had broken the link between risk and reward, giving some executives generous pay deals despite lacklustre performance.

Jan 20, 2012

Britain seeks to defuse anger over bosses’ pay

LONDON, Jan 20 (Reuters) – Britain will set out plans
next week to crack down on executive pay to try to address
public outrage over huge wages for “fat cats” at a time of deep
public spending cuts and fears of a looming recession.

Prime Minister David Cameron said a market failure during
years of uncontrolled “turbo capitalism” had broken the link
between risk and reward, giving some executives generous pay
deals despite lacklustre performance.