whatsapp Share Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof John Dunne The Japanese yen has hit a new 15-year high against the dollar, despite hints that the government will take action to curb its strength.It rose to 83.4 yen versus the dollar, adding to fears that Japanese goods are becoming uncompetitive. Japan’s finance minister Yoshihiko Noda, had suggested that he would take measures to push the yen lower.But investors ignored the comments, and continued to push the yen higher.He promised to act firmly if necessary, saying that “in the end, we will take decisive measures including intervention when needed”.Meanwhile figures showed a strong rise in Japanese machinery orders in July, up by 8.8 per cebt, but these did not ease concerns over the damage being caused to the export sector by the yen’s strength. Tags: NULL
Show Comments ▼ Wednesday 8 September 2010 3:13 am whatsapp Japan to tackle soaring yen by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy Fan
More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Wednesday 6 October 2010 7:54 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Herald whatsapp Show Comments ▼ Share
… as it’s rebuffed in $1.2bn bid for oil firm Wellstream Tags: NULL whatsapp GENERAL ELECTRIC (GE) was spurned in one of its largest recent efforts to build up its industrial businesses, when British oilfield services Wellstream rejected a $1.2bn (£755m) takeover approach.News of Wellstream’s rejection came on the same day GE said it would buy Dresser, a maker of gas engines used to power oil and natural gas production equipment, and retail credit assets from Citigroup. The US conglomerate’s offer for Wellstream comes at a time when GE officials said the firm could have $30bn available for acquisitions over the next few years.This follows a period when GE was more active in selling operations, including its NBC Universal media unit and parts of its finance operation.Wellstream would not comment on GE’s statement that it had made a proposal at 750p per share, which led some investors to conclude the oil services firm may be talking to other suitors.Fairfield, Connecticut-based GE, which also owns Vetco Gray, a maker of equipment used in deep-sea oil and gas production, said that it would keep its options open.“GE is disciplined in its acquisitions, and as such, there can be no certainty that it will take any further action,” the company said. KCS-content 
whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Show Comments ▼ Share Weir Group WEIR Group is notoriously conservative with its forecasts, so yesterday’s profit upgrade came as little surprise to shrewd investors.Growth in its minerals order book of 24 per cent is encouraging, up on 21 per cent in its first half. Its oil books also rocketed 91 per cent (compared to 47 per cent in the first half) as demand in the horizontal drilling market surged. It has an enviable position in niche growth markets, with high market share and growth potential.Profitability has bounced back strongly and management is looking to double this by 2014 making it a strong long-term bet.Net debt has increased after a Malaysian acquisition but it enjoys stable margins and strong cash generation.However, as the profit forecast upgrade was anticipated by the market, its share price actually fell on the news. Weir is a great long-term investment but don’t expect to see any immediate surge in its stock price. 
whatsapp KCS-content Tags: NULL More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com Monday 1 November 2010 9:18 pm
Labour edges ahead in Aussie election
Monday 23 August 2010 8:01 pm whatsapp KCS-content Show Comments ▼ Labour edges ahead in Aussie election Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBe20 Stunning Female AthletesBetterBeAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic Mirrorautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comForbes14 Richest Black Billionaires RankedForbesOpulent ExpressNewborn Quadruplets Left Doctors Staggered — They Are One In A MillionOpulent ExpressElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite Herald
Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp Tags: NULL THE Labour government appeared to take the initiative in the Australian election yesterday, with analysts predicting leader Julia Gillard can scrape enough independent MPs together to form a shaky coalition.In a turnaround to early estimates, the latest count gave Labour 72 seats to the conservative’s 69, with both falling short of the 76 seats needed to form a government.Now Gillard and opposition leader Tony Abbott are scrabbling to form a coalition with the handful of independent and Green MPs who can act as kingmakers.The Australian mining industry, the largest exporter of coal in the world, is holding its breath. If left-leaning Labour scrapes a victory it is almost certain to introduce a levy of 30 per cent on miners.A win for the right-of-centre Liberal-National coalition would see the tax scrapped.Gillard, setting out her case for power, said the government had attracted the majority share of the vote. “What that means is that the majority of Australians wanted a Labour government,” she said.The scenario of a minority conservative government, on the other hand, rests on opposition leader Tony Abbott receiving a larger number of seats than Labour, and assumptions that the independents would naturally align themselves to the conservatives.But independent Tony Windsor, challenged that assumption, saying he had long ago quit as a member of the National Party, which makes up half of the conservative coalition.He said: “I gave up smoking at the same time. I’ve ridden myself of two cancers.” 
Capital Shopping Centres CAPITAL Shopping Centres (CSC) shareholders are currently in a win-win situation. While Simon Group’s bid interest seems to have taken it completely by surprise, the shares’s near 13 per cent surge to 381p indicates the market is taking it seriously. Simon, which already owns 5.6 per cent of CSC, is a big player in the US, with the cash to match. It is believed to be looking overseas because competition concerns over its size is preventing it making further large acquisitions in its home market. It’s not clear how much Simon is willing to offer, saying a deal will be at “an unspecified premium” to net asset value, but its $30bn market cap means CSC’s £2.4bn market cap is relatively small fry for it to swallow.CSC’s planned £1.6bn acquisition of the Trafford Centre is what propelled Simon into action. If the deal goes through Peel Group would gain a 19.9 per cent stake in CSC making a full acquisition near impossible. Simon has until 20 December – the date of the vote on the Trafford deal – to make a formal offer. But either way CSC shareholders win. Either Simon will come up trumps with a juicy takeover premium, or the Trafford centre deal will go through – which in the long term should boost earnings. Share Thursday 25 November 2010 8:27 pm KCS-content Tags: NULL Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof whatsapp Show Comments ▼ whatsapp
whatsapp Wednesday 8 December 2010 9:12 pm McDonald’s growth disappoints whatsapp KCS-content More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org
Show Comments ▼ Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndo Share McDonald’s reported a smaller-than-expected rise in global sales at established restaurants in November as demand was weaker than anticipated in its key domestic market and Japan. Worldwide November sales at restaurants open at least 13 months were up 4.8 per cent. In the US, sales were up 4.9 per cent. Wall Street had expected global sales to rise 5.6 per cent and US sales to increase 5.1 per cent. Same-restaurant sales in Europe were up 4.9 per cent, while sales in the Asia/Pacific, Middle East and Africa unit rose 2.4 per cent. Tags: NULL
Tags: NULL Share Best Buy shares tumbled 14 per cent yesterday, their biggest decline in more than eight years, as the biggest US electronic retailer reported an unexpected third-quarter dip in profit. The company also cut its outlook after decreased demand for televisions, notebook computers and videogames took its toll on sales. Net income in the fiscal third quarter, which ended 27 November, fell four per cent to $217m (£137.4m), or 54 cents per share, from $227m, or 53 cents per share, last year. Analysts had expected 61 cents per share. Revenue fell one per cent to $11.89bn, from $12.02bn last year. Analysts expected revenue of $12.45bn. whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com KCS-content 
Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Herald whatsapp Best Buy reports profit drop Tuesday 14 December 2010 8:46 pm
by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times KCS-content BUSINESS leaders and politicians said that it is now only a matter of time before business secretary Vince Cable is sacked after saying to two undercover reporters that he had “declared war on Rupert Murdoch”.Sir Alan Sugar, founder of electronics firm Amstrad, wrote on Twitter yesterday: “Cameron and his apprentice Clegg will dump Cable soon”.A backbench Tory MP told City A.M. that Cable’s credibility is in tatters: “The guy just makes himself look ridiculous, like a precious prima donna. It makes you realise that babysitting some Lib Dem front-benchers requires nursery school patience.”John Whittingdale, chair of the parliamentary select committee on culture, media and sport said: “This does call into question his objectivity and independence in reaching what is essentially a quasi-judicial decision.”Before yesterday, Cable had been responsible for deciding whether News Corporation would be permitted to buy out Sky due to concerns about media plurality. But Prime Minister David Cameron stripped him of all responsibilities relating to the media after his comments.Sources close to Santander UK also said that Cable’s role in yesterday’s government meeting with banking chiefs was significantly undermined by the furore over his boast that he could “bring down the government”.The source said: “There was initially speculation that the Liberal Democrats would try to kick around bank bonuses to regain credibility after the tuition fees vote. But we were in a different place 24 hours later.”The meeting had been convened to discuss a deal on pay restraint in order to revive the image of the banking industry. Cable has previously championed the cause of further transparency in banking remuneration, saying that secrecy over pay could foster “poisonous fungus”. Cable has lost all credibility, say key critics Share whatsapp
More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Tags: NULL Show Comments ▼ whatsapp Tuesday 21 December 2010 8:49 pm
KCS-content Catlin reveals losses for New Zealand quake Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof whatsapp whatsapp Share Show Comments ▼ PROPERTY and casualty insurer Catlin published its losses linked to the New Zealand earthquake yesterday, which were $10m (£6.5m) more than previously thought. The Lloyd’s of London insurer said the quake in September leaves it exposed to around $45m of claims, net of reinsurance – $10m more than the group’s earlier figures. The firm said it has reviewed all its insurance contracts and collected data from brokers and clients to arrive at the sum. The vast majority of the loss is due to property reinsurance contracts written by underwriting hubs in London and Bermuda, Catlin said. Catlin currently puts the total insured losses resulting from the earthquake at between $5.5bn and $6bn.The magnitude seven earthquake on New Zealand’s South Island demolished shops and homes when it struck in the early hours of 4 September. The quake brought down power lines and bridges, and wrecked roads and building facades but did not result in any deaths.In its November interim management statement, Catlin said claims from the quake were “not material”. Earlier this year the firm’s profits were dented by $180m losses arising from the Chilean earthquake and the Deepwater Horizon explosion. The Lloyd’s market saw its profit cut in half to £628m in the first half of the year thanks to the spate of disasters. The group’s total claims ratio stood at 98.7 per cent of premiums for the period, up from 91.6 per cent a year ago. London-listed shares in Catlin closed down 1.25 per cent at 369.9p yesterday, giving the firm a market cap of £1.34bn. Wednesday 22 December 2010 7:14 pm Tags: NULL
Share KCS-content whatsapp whatsapp A FORMER New York state attorney has said the lawsuit filed against Ernst & Young (E&Y) for allegedly assisting Lehman Brothers’ financial fraud is likely to be based on strong evidence and have a high chance of success.Attorney general Andrew Cuomo’s office “will have made sure they have a slam dunk for a settlement at the very least,” lawyer and former state prosecutor Stuart Meissner told City A.M. last night.US lawyers have“typically got significant email correspondence to back up the attorney general’s case,” Meissner said, largely as it has only limited resources and attorneys at its disposal so must be highly selective about the cases it pursues.Ernst & Young faces a civil complaint of misleading investors about Lehmans’ financial health, by filing clean audits despite being aware that the bank was using an accounting loophole, Repo 105, to remove billions of dollars of risky assets from its balance sheet at the end of each quarter.Ernst & Young has rebuffed the complaint, issuing a statement today saying it would “vigorously defend itself against the civil claims alleged”.“There is no factual or legal basis for a claim to be brought against an auditor where the accounting for the underlying transaction is in accordance with the Generally Accepted Accounting Principles,” it said. Meissner said the case may also have implications for other auditors of banks that subsequently failed or received bailouts. “It is certainly a shot across the bows of any large public auditing firm auditing financial services firms,” he said, as it showed they could be prosecuted not just by civil litigants, but by the attorney general. Meissner was a New York state attorney on financial cases under Eliot Spitzer. Top lawyer: US has a strong case against E&Y Share KCS-content Top lawyer: US has a strong case against E&Y A FORMER New York state attorney has said the lawsuit filed against Ernst & Young (E&Y) for allegedly assisting Lehman Brothers’ financial fraud is likely to be based on strong evidence and have a high chance of success.Attorney general Andrew Cuomo’s office “will have made sure they have a slam dunk for a settlement at the very least,” lawyer and former state prosecutor Stuart Meissner told City A.M. last night.US lawyers have“typically got significant email correspondence to back up the attorney general’s case,” Meissner said, largely as it has only limited resources and attorneys at its disposal so must be highly selective about the cases it pursues.Ernst & Young faces a civil complaint of misleading investors about Lehmans’ financial health, by filing clean audits despite being aware that the bank was using an accounting loophole, Repo 105, to remove billions of dollars of risky assets from its balance sheet at the end of each quarter.Ernst & Young has rebuffed the complaint, issuing a statement today saying it would “vigorously defend itself against the civil claims alleged”.“There is no factual or legal basis for a claim to be brought against an auditor where the accounting for the underlying transaction is in accordance with the Generally Accepted Accounting Principles,” it said. Meissner said the case may also have implications for other auditors of banks that subsequently failed or received bailouts. “It is certainly a shot across the bows of any large public auditing firm auditing financial services firms,” he said, as it showed they could be prosecuted not just by civil litigants, but by the attorney general. Meissner was a New York state attorney on financial cases under Eliot Spitzer. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comColin Kaepernick to publish book on abolishing the policethegrio.com Wednesday 22 December 2010 8:55 pm whatsapp Show Comments ▼ Tags: NULL,Wednesday 22 December 2010 8:55 pm Tags: NULL whatsapp
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