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Showing posts from January, 2012

DealBooK | DealB%K Alert: MF Global’s Missing Money Is Slowly Being Tracked Down

Dealbook News Alert The New York Times Tuesday, January 31, 2012 ----- MF Global’s Missing Money Is Slowly Being Tracked Down Investigators have determined what happened to nearly all of the customer money that disappeared from MF Global around the time of its bankruptcy last Oct. 31, but have not publicly disclosed their progress, fearing that doing so might cripple efforts to recover the cash and pursue potential wrongdoing, people briefed on the investigation told The New York Times DealBook. While authorities have traced hundreds of millions of dollars to banks, MF Global’s trading partners and even the firm’s securities customers, investigators remain uncertain about whether they can retrieve the money. Some recipients were entitled to payouts from MF Global, which could make clawing back the money difficult. For instance, securities customers withdrawing their money as MF Global began to collapse were paid from accounts that belonged to futures clients, acco

Financial and Forex Info News | The Australian Business Briefing Update: No Fairfax seat for Gina: investor

  No Fairfax seat for Gina: investor Damon Kitney ONE of Fairfax Media's biggest shareholders says it would not support Gina Rinehart being offered a seat on the media company's board.   BHP to shed 155 workers in Perth Barry FitzGerald BHP Billiton will cut as many as 155 employees and contractors, mainly from its nickel division’s Perth head office.   Bank fees class action widens ST GEORGE and Bank SA are the latest Australian banks to be taken to court by customers angry at the fees they are charged.   Rains push ERA to $154m loss Ross Kelly ENERGY Resource of Australia has booked a steep annual loss after the uranium miner was ravaged by rains and poor quality ore.   Stocks pare losses on China data Virginia Harrison AUSTRALIAN shares traded down but off their worst levels today after a surprise pick-up in Chinese manufacturing activity.   ECB's awkward Greek problem Brian Blackstone

Smartcompany News and Analysis: Business numbers up but small firm exits soar, Meet the boss sharing $15m with staff, Who’ll buy Dick Smith? Behind Gina Rinehart’s Fairfax buy

Today on SmartCompany we ask who is really in line to buy Dick Smith, examine the slowing rate of growth in new businesses and take a look at the bus company boss who’s made a very classy exit after selling his business for $400 million. Plus in Entrepreneur Watch , James Thomson takes a long look at the motives of Australian super billionaire Gina Rinehart, whose bought another 5% of Fairfax Media. What does Gina want to gain? News New business numbers rise slightly, but exits soar for new companies and small firms: ABS Will anyone buy Dick Smith? Here are the five most likely candidates Bus boss makes classy exit after sharing $15 million from business sale with staff Unfair dismissals rise by 2.5% as businesses look to settle claims Business owned by Mick Gatto collapses with $3 million tax bill Franchise Council slams SA Government after appointing franchisee champion Frank Zumbo as deputy small business commissioner ACCC accuses online supp