News

Outlook Billionaire Thomas Sandell is making it quite clear that it will take more than a couple of paracetamol to handle the headache he is causing for FirstGroup.

A better way to be free

Law: A group set up by big City firms aims to change the face of solicitors' unpaid pro bono work.

Deals at top legal firm hit pounds 5.9m

Linklaters & Paines consolidated its position in the first half of the year as the most successful law firm advising on UK public takeovers. The firm worked on 18 deals worth a total of pounds 5.9m, coming top of the lawyers' mergers and acquisitions league table as it did for the whole of 1996.

NatWest will not face criminal charges over pounds 90m losses

The Serious Fraud Office said yesterday that it would not be launching a criminal investigation into losses of pounds 90m incurred by NatWest Markets in interest rate options earlier this year.

Media families: 21. The Linklaters

Despite being categorised by the Scottish critic Lewis Grassic Gibbon as a member of the Anglo-Scots' "bourgeois heart of Scotshire", the novelist Eric Linklater, along with his wife, Marjorie, founded one of Scotland's foremost media families.

SFA may act over NatWest's missing pounds 90m

The Serious Fraud Office and the Securities and Futures Authority were last night considering whether to launch investigations at NatWest Markets after the investment bank announced the resignations of six senior traders and directors over a deliberate cover-up to hide losses of pounds 90m in its interest rate options business.

What led to bid collapse

Sept 1996 Andrew Regan buys controlling stake of New Guernsey Investment Trust, to become Lanica.

Molins reveals hole in accounts

The chartered accountants KPMG are at the centre of a second auditing nightmare - this time at Molins, the tobacco machinery company. Michael Orr, chairman of Molins, stunned shareholders at yesterday's annual meeting with revelations of a potential multi-million pound hole in its accounts after identifying "certain financial irregularities" at Langston Corporation, its US corrugated board machinery subsidiary.

CU backs down over voting on annual report

Commercial Union performed an embarrassing volte-face yesterday, caving in to pressure from Pirc, the corporate governance consultancy, to reinstate a vote on its annual report and accounts.

Back off, Co-op tells City

Anger at reports of institutional support for Lanica's break-up bid

NatWest auditors in firing line

NatWest is preparing for further management changes and disciplinary action at NatWest Markets, its investment banking arm, following pounds 90m of losses in the latest "rogue trader" scandal to hit the City.

Trader's losses grew undetected for two years

To senior NatWest executives, the most alarming feature of the pounds 90m hole that has appeared in its interest rate options business is the fact that it remained undetected for more than two years.

SFO stands by in NatWest options scandal

Four suspended, pounds 8m bonus cut as inquiry widens

This year's blockbuster - a steamy tale of corporate governance; People & Business

Neville Bain, the departing Coats Viyella chief executive, is looking forward to a busy time in his new incarnation. He hopes to combine a series of non-executive roles (he is open to offers) with his burgeoning career as an author.

NatWest to punish senior staff

NatWest is today expected to outline disciplinary measures against senior staff which could result in bonus cuts, reprimands and dismissals, following the discovery of a pounds 50m hole in its interest rate options department, writes Michael Harrison.
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