A former partner at Cazenove, the Queen's stockbroker, who is due to stand trial on insider-dealing charges next week appeared in court for a pre-trial hearing yesterday.
Malcolm Calvert, a former trader who retired from Cazenove in 2000, is accused by the FSA of 12 counts of insider dealing relating to upcoming takeovers in which Cazenove was involved, writes the Times.
He is alleged to have exploited inside knowledge to buy hundreds of thousands of shares in six companies, including HP Bulmer and RAC between 2003 and 2005, after he had left Cazenove. Full story...
PRESIDENT BARACK OBAMA does not "begrudge" the multi-million dollar bonuses awarded to the heads of Goldman Sachs and JP Morgan Chase, and argues that they don't make as much as some baseball players.
The US President, in an apparent reversal given his earlier comments attacking "obscene bonuses", likened Jamie Dimon, JP Morgan's chairman, and Lloyd Blankfein, Goldman's chairman, to successful athletes who are simply paid more because they are better than their rivals, writes the Telegraph.
In a series of surprising comments - following months of anti-Wall Street rhetoric - Mr Obama appeared to offer an olive branch over executive compensation. Full story...
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