In brief: Tough new rules for firms listed on ISE
COMPANIES listed in Ireland face more rigorous rules on corporate governance under new regulations released yesterday. The Irish Stock Exchange (ISE) said it would require Irish-listed companies to comply or explain against additional corporate governance provisions in the areas of board composition, board appointments, board evaluation, board re-election, the audit committee and remuneration. The regulations come into effect from today.
One51 has no stake in Aryzta
IN an article on December 9, we reported that One51's portfolio included a stake in Aryzta. We would like to clarify that One51 does not hold any shares in Aryzta.
Madoff investor in $7.2bn settlement
THE victims of Bernard Madoff are expected to enjoy their biggest cheer in two years after the estate of Jeffry Picower, one of the fraudster's biggest investors, agreed to return $7.2bn (€5.4bn). The settlement has been struck between the estate of Mr Picower, who died last year, and Irving H Picard, the court-appointed trustee seeking to recover billions from the biggest Ponzi scheme in Wall Street history.
Oracle profits up 28pc to $1.87bn
STRONG software sales to new customers helped to boost US technology giant Oracle's profits in the three months to the end of November. Net profit came in at $1.87bn (€1.42bn), a 28pc rise on the $1.46bn it made in the same period a year earlier. Revenue almost doubled to $8.58bn, with $2bn coming from new software licences.
Smaller firms get bonus exemption
Most UK financial firms look set to be able to escape some of the strict rules aimed at curbing bankers' bonuses, fresh City watchdog rules suggest. The Financial Services Authority said its remuneration code was aligned to rules agreed by the EU's Committee of European Banking Supervisors. But only the biggest banks must comply with all the guidelines, the FSA said. Smaller UK firms are exempt from some rules.