IBI named best financial adviser
IBI Corporate Finance has been ranked as the No 1 financial adviser in Ireland in the annual review of international mergers and acquisitions activity by specialist M&A publisher 'Mergermarket'.
This is the seventh successive year that IBI has been ranked No 1. IBI topped the league table for the number of transactions on which it advised, with a total of 14 qualifying deals with a cumulative deal value of $3.5bn (€2.7bn) in 2011. Chief executive Tom Godfrey said: "We are delighted that IBI's track record of providing innovative corporate finance advice has been acknowledged independently."
'No transfer plan' in MF Global inquiry
FORMER customers of MF Global's collapsed brokerage were disappointed to hear yesterday that the trustee hunting for funds missing from their accounts has no immediate plans to transfer more money to them. More than 250 customers met in New York yesterday with trustee James Giddens for an update on the status of his investigation into what may be $1.2bn (€935m) missing from their accounts.
Hong Kong tops list of freest economies
HONG Kong has retained its position as the world's freest economy, according to a ranking compiled by the Heritage Foundation, a conservative US think tank. Singapore ranked second, followed by Australia, New Zealand and Switzerland. The index evaluates economic freedom by looking at the rule of law, regulatory efficiency, the size of government and open markets.
Nike to pay $1m in overtime dispute
SPORTSWEAR group Nike has agreed compensation in a dispute with workers in Indonesia over unpaid overtime. Its Indonesian subsidiary will pay $1m (€770,000) to about 4,500 workers at a PT Nikomas plant in Serang, Banten. The workers' union that brought the case to Nike said 593,468 hours of overtime went unpaid over the last two years. "This has the potential to send shock waves through the Indonesian labour movement," said Bambang Wirahyoso, the national chairman of the Serikat Pekerja National trade union.