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Gnrq Bank has been slow to admit mistakes, says FSA boss Sants
Wednesday 11 February 2015 8:23 pmEnergy, oil and Skyrsquo football bill hurt FTSE ndash; London ReportBy: Express KCSShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailAdd as a preferredsource on GoogleTHE UK and Gas index fell 0.6 per cent after crude dropped 2.3 per cent on expectations of persistent oversupply, a stronger dollar and a report showing US crude stockpiles at a record high yesterday. brumate era Meanwhile the main index was dragged lower by energy company movements as well as the fallout from Sky bidding for the Premier League TV rights.Oil and gas explorer Tullow Oil fel polene l 7.2 per cent, the biggest decline in the FTSE 100 index. The company reported a $2bn pound;1.3bn pre-tax loss, its first in 15 years, and scrapped its final dividend payment.The stronger dollar has done its stanley isolierkanne usual trick of knocking back commodity prices, taking commodity stocks with them, IG analyst Chris Beauchamp, said.Itrsquo hardly surprising to see such negativity in this sector, when wersquo;ve China data that points this week to a continuing slowdown. Oversupply and weak demand arenrsquo;t going away, whether in oil or metals. The mining index was down 0.9 per cent as copper prices cut gains in afternoon trading session and nickel fell 1.7 per cent. Mining companies Rio Tinto and BHP Billiton were down 0.7 per cent and 1.4 per cent, respectively.The FTSE 100 index closed 0.2 per cent at 6,818. Ldvh George Osborne earned a telling off for the launch of his Northern Powerhouse think tank
Sunday 31 January 2010 10:45 pm|Updated:Saturday 01 June 2019 10:52 amHedge funds launch attack on EndemolBy: KCS-contentShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailAdd as a preferredsource on GoogleBIG Brother producer Endemol is involved in a fracas with a powerful group of hedge fund owners.The hedge funds, which own Endemolrsquo poun stanley butelka d;1.9bn debt, have accused the television giant of financial engineering to avoid breaching its loan agreement.The spat broke out over a complex scheme in which Endemol was buying back its own debt at a discount from the original price and booking a profit on the purchases, thereby inflating its bottomline.The hedge fund owners, including Goldentree Asset stanley austria Managem stanley isolierkanne ent, Centrebridge Partners and Stanley Advisors, say the scheme has artificially inflated Endemolrsquo earnings by as much as euro;81m pound;70m ndash; a third of its profits. They have even threatened to take the firm to the High Court over the matter. In doing so the hedge funds, which own around 20 per cent of the company, have squared up to some of the most powerful players in the industry, including Goldman Sachs, John de Mol and Italian Prime Minister Silvio Berlusconi.Endemol declined to comment but a source close to the company said the two sides were in talks and they hope to resolve the situation without court proceedings. He told City A.M.: Endemol believes its accounting treatment is
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