PRESS DIGEST - Financial Times - Nov 21

Tue Nov 20, 2012 8:34pm EST

Financial Times

Headlines

HP TAKES $8.8 BLN CHARGE OVER AUTONOMY -

PAY-OUT VOTE SEES EXIT OF XSTRATA CHAIRMAN -

UBS FRAUD TRADER JAILED FOR SEVEN YEARS -

COHEN LINKED TO $276 MLN INSIDER TRADING SCHEME -

CREDIT SUISSE SPLITS OFF GLOBAL INVESTMENT BANK -

US BANKS WARN ON MONEY TRANSFER RULE -

CHEVRON SEEKS PROBE OVER ECUADOR CASE -

EADS PACT FACES SHAKE UP -

Overview

HP TAKES $8.8 BLN CHARGE OVER AUTONOMY

Hewlett-Packard Co on Tuesday took a massive $5 billion charge, claiming a raft of failures at software firm Autonomy.

PAY-OUT VOTE SEES EXIT OF XSTRATA CHAIRMAN

Xstrata's chairman is to resign once the merger with Glencore is completed, bowing to shareholder anger over a proposed multimillion-dollar payout to executives.

UBS FRAUD TRADER JAILED FOR SEVEN YEARS

UBS trader Kweku Adoboli was jailed for seven years on Tuesday for the biggest fraud in British history, which cost the Swiss bank $2.3 billion.

COHEN LINKED TO $276 MLN INSIDER TRADING SCHEME

The former hedge fund manager accused of a $250 million insider trading scheme worked for some time for SAC Capital.

CREDIT SUISSE SPLITS OFF GLOBAL INVESTMENT BANK

Credit Suisse is splitting its global investment banking operations from those in Switzerland as it seeks to adapt to what it calls "the new regulatory reality".

US BANKS WARN ON MONEY TRANSFER RULE

Banks are urging regulators and politicians to rethink new U.S. rules governing international money transfers just months before they are due to come into effect.

CHEVRON SEEKS PROBE OVER ECUADOR CASE

Chevron, the U.S. oil group, has filed a complaint calling for an investigation of the comptroller of New York state.

EADS PACT FACES SHAKE UP

The French and German governments are looking at forming a new shareholder pact at EADS, under which each would hold a stake of 12 percent in the company.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.