Barclays is challenging a ruling made last month on its Lehman Brothers unit purchases, by asking the US court to award it an extra $1.3bn in cash and assets.
Two major credit rating agencies have lowered their outlook on Barclays following the exit of the bank's Chief Executive Bob Diamond and other senior directors in the bank. Both Moody's and Standard and Poor's (S&P) slashed Barclays 's outlook from stable to negative Thursday in response to the uncertainties surrounding the bank following the departure of its senior executives. Apart from Diamond, Barclays's Chief Operating Officer Jerry Del Missier also resigned creating a leadership vacuum at the bank
Ahead of its official Q2 financial result later this month, Samsung said on Friday that it could net operating profit of $6 billion plus in the period, giving the group 80 per cent spikes from the figures it registered in 2011. The South Korean firm also tipped that overall revenues would jump by at least 19 per cent as analysts pointed to the obvious - Samsung 's mobile division is consistently flourishing and is carrying much of the load for the global company to reap success in spite of the challenges posed by key markets. As consumer activities weaken in the immediate past periods, companies feel the pressure and Samsung was no exception as it admitted that movements of televisions and other consumer electronic products slowed down.
Manufacturers have accused supermarket giant Woolworths of bullying them into cutting their costs and prices or else be banished from the shelves. Reports said that food manufacturers were given two weeks to find cost savings from 5 to 10 per cent for it to remain on the grocery aisles
Expected earnings of U.S. companies on the S&P 500 reflect the gloomiest outlook in over a decade.
That massive pile of cash Corporate America has been sitting on for years is shrinking, and the reason bodes well for the nation's economy. "For over two years, regulators, public officials and pundits have been denouncing corporations for 'hoarding' cash. Their storyline has been that the economy will turn around if only companies would start spending that cash," said Anthony Carfang, partner at Treasury Strategies, a treasury and liquidity consulting firm.
Britain's shareholder revolt against executive pay packages is likely to intensify after an industry report revealed that FTSE 100 CEOs had a median total pay increase of 10 percent for last year, following a 13 percent hike in 2010. According to a proxy voting agency Manifest and independent share plan consultancy MM&K's 'Executive Director Total Remuneration Survey for 2012,' one quarter of FTSE 100 chiefs received increases in Total Remuneration Awarded of 41 percent or more. The total remuneration increases were mainly due to a combination of increases in deferred bonus and long-term incentive awards
India 's Finance Minister Pranab Mukherjee on Monday voiced assurance that the government is working towards a turnaround in the sputtering GDP growth, following a warning that the nation may lose its investment-grade status as an economic powerhouse.