Author Archive: Jeremy Parkinson
Supreme Court rules Finance Act 2007 in breach of EU law
The US Supreme Court late on Wednesday handed down a long awaited judgement which upheld the appellants’ claim in the FII group Litigation v HM Revenue & Customs. The judge ruled that a section of the Finance Act 2007 has been in breach of EU law. The court specifically found that the Treasury breached European […]
Alibaba to buy back half of Yahoo stake
China’s biggest e-commerce provider, Alibaba Group Holdings, has come to a $7.1bn agreement after years of negotiations with Yahoo! to buy back half the 40 percent share owned by the American internet giant, the companies have announced. As part of the agreement, Yahoo! will sell half its stake for an estimated $6.3bn in cash and […]
Dreyfus set to debut capital markets
Global commodities giant Louis Dreyfus announced late Sunday it is planning to issue bonds for the first time in its 160-year history, according to its CEO Serge Schoen. The firm is intending to boost investments by around 40 percent when weighed against the volume of ventures made between 2006 and 2011. The privately held food […]
China sees off sea claims with independent deep water drilling
China National Offshore Oil Corp (Cnooc), China’s biggest offshore oil producer, late on Wednesday commenced its first unaided deepwater exploration in the South China Sea. Cnooc’s independent deep water oil drilling marks the beginning of a new era, as it typically relied on foreign partnerships such as the one established with Canadian Husky Energy. The […]
Unemployment rate hits record high
Unemployment figures for March within the 17 nations of the eurozone rose by 169,000 or at a rate of 10.9 percent, the highest level since the euro launch, said statistics agency Eurostat. The worse numbers came out of Spain at 24.1 percent, Portugal at 15.3 percent and Greece, where the unemployment rate hit 21.7 percent. […]
Voting now open for World Finance Legal Awards
It’s with great pleasure that World Finance announces the opening of voting of the 2013 Legal Awards. Now in its sixth year, the World Finance Legal Awards are fast becoming the global benchmark for the industry. Celebrating the best firms and individuals working within the sector, the objective of the awards is to capture and […]
Global unemployment figures to hit 202 million by 2012
Tough austerity measures and harsh labour reforms are hurting employment markets globally, according to the International Labour Organisation (ILO). Unemployment figures are forecast to increase at a rate of 6.1 percent to 202 million during 2012. The organisation found that employment levels are not expected to return to pre-crisis levels until the end of 2016. […]
S&P slashes Spain credit rating
Standard & Poor’s late on Thursday cut Spain’s sovereign credit rating by two notches due to “a challenging fiscal outlook” for the nation. The ratings agency downgraded the country from A to BBB+. The drop reflects the agency’s views on “the mounting risks to Spain’s net general government debt as a share of GDP in […]
South Korea GDP weakest in 30 months
South Korea’s GDP grew 2.8 percent year-on-year for the first quarter 2012, slipping to its weakest level in two and a half years, according to figures published by the central bank on Thursday. The country’s economy expanded in the quarter by 0.9 percent thanks to gains in exports and improved domestic demand. The consumer confidence […]
Shell seals £1.2bn Cove Energy deal
Europe’s largest oil company, Royal Dutch Shell, on Tuesday said it has come to an agreement to buy Mozambique-focused Cove Energy for £1.12bn, according to a company statement. Shell secured the deal after it increased its offer for Cove Energy buy levitra online from a previous 195 pence to 220 pence a share to match […]
