The Telegraph reports that Equitable Life has issued legal proceedings seeking £2.6bn damages f...
The Telegraph reports that Equitable Life has issued legal proceedings seeking £2.6bn damages from its former auditor, Ernst & Young, alleging professional negligence. The accountants claimed that the insurer was litigating with the benefit of hindsight and added: "We are confident there is no basis for a claim."
The FT says UBS Warburg is to cut pensions for existing employees in an aggressive move to slash costs.
The Football League was accused of wrecking the administration process of ITV Digital yesterday, as the two sides traded insults on the steps of the High Court, says the Telegraph.
The Times notes that a British pensioner living in South Africa launched a multimillion pound High Court battle against the Government yesterday in an attempt to gain increased pension rights for British pensioners who reside overseas. Annette Carson, 60, is challenging a rule that allows the Government to avoid paying inflation-linked rises to retired Britons living abroad.
The Times also reports that accountant PricewaterhouseCoopers (PwC) was facing an Enron-style accounting scandal yesterday after a fund management group that specialises in the Russian stock markets accused the firm of conducting "false and misleading audits" at Gazprom, the Russian state monopoly and the world's largest gas company. Hermitage Capital, a Gazprom shareholder, alleges that PwC covered up the tracks of former Gazprom bosses who have been accused of diverting billions of dollars from the company.
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