The Business Matrix: Saturday 06 July 2013


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The Independent Online

Rolls-Royce: 'We didn't cut corners'

Rolls-Royce has denied claims it "cut corners on quality-control requirements" and lied to customers. The allegations were made in a US lawsuit involving two former employees, who also say the engineer used defective parts. Thomas McArtor and Keith Ramsey allege the company records these failings in a "secret set of books".

Charges unlikely for billionaire

Billionaire hedge fund boss Steve Cohen is likely to escape criminal charges over one of the biggest cases of alleged insider dealing. US prosecutors are struggling to come up with enough evidence against him before a deadline at the end of this month. The case against Mr Cohen followed charges against one of the firm's fund managers.

Swiss banks face loss after tax deal

Swiss banks could be out of pocket because of a tax-evasion deal agreed with the UK. Last year Switzerland said that its banks would pay SFr500m (£347m) to the UK Treasury as part of a clampdown on tax evasion. But there appear to be fewer untaxed British assets in the country than it thought.

Shares still strong from Carney effect

Shares held on yesterday to most of their gains since Mark Carney's arrival despite strong job figures from the US prompting renewed fears that the Federal Reserve would start cutting its QE programme. The Footsie held at 6,375.52, down just 46.15 points. The index is now up nearly 9 per cent this year.