Stocks
Standard Life Investments' future was thrown into doubt last week following the announcement of a strategic review of its corporate parent, Standard Life, and the resignation of its chief executive, Iain Lumsden. The review and changes have raised concerns over the firm's business model, leadership, and ability
Stocks
The collapse of the Italian dairy company Parmalat has revealed a shocking tale of Byzantine corporate structure, deceit, and loss-making acquisitions. At the heart of the scandal lies the Tanzi family's determination to maintain control of the company, with an estimated €10bn (approximately £6.9bn) in unaccounted funds.
Markets (Economics)
Four foreign exchange dealers at the National Australia Bank have been suspended after running up losses of $180m through unauthorised derivatives deals over a three-month period. The scandal, which began last October, resulted in the bank asking regulators for assistance in investigating the matter. The unauthorised trades in options on
Markets (Economics)
The platinum market has seen a significant surge in recent months, with prices reaching a 24-year high of $852 an ounce. The sell-off in December, triggered by a weakening of the South African rand, has been swiftly reversed, prompting investors to buy on dips. The platinum market is heavily influenced
Markets (Economics)
Verizon Wireless' plan to invest $1 billion in a new high-speed internet network that uses Qualcomm's CDMA technology is a significant boost to the technology company, as well as Nortel Networks, which announced a $100 million order for internet telephony equipment from Verizon the day before. This
Markets (Economics)
The recent collapse of Parmalat, an Italian dairy products company, has dealt a significant blow to the US life assurance industry, which is still recovering from heavy credit losses incurred in 2001 and 2002. Life assurers have investments totaling approximately $1.6 billion in Parmalat-related securities, making up nearly one-fifth
Markets (Economics)
US retail sales showed mixed signals over the holiday period, with both Sharper Image and Amazon.com reporting strong preliminary sales despite warnings from some traditional retailers. Sharper Image reported a 21% increase in same-store sales and a 30% jump in group sales, while Amazon.com claimed to have enjoyed
Markets (Economics)
The technology industry is on the brink of facing a significant hit in 2005 due to changes in US accounting rules that will require companies to deduct the cost of employee stock options. Despite the rearguard fight from Silicon Valley, the standards-setters are unlikely to back down, potentially wiping out
