Index December 2004
Comment
Fight over MyTravel has turned ugly
Richard Northedge
The bondholders’ reluctance to accept the rescue terms at MyTravel is
certainly investor activism, but is it good corporate governance or an
abuse of investor power? The reconstruction has turned into ugly threats.
More >>
Governance
Operating & Financial Review
DTI listens to business concerns
The government has said it will amend the Operating and
Financial Review (OFR) regulations, which were put out for public consultation in May, to address the concerns expressed by business and
accounting groups.
More >>
Pre-emption Rights
Bioscience industry welcomes consultation
The deadline for responses to Paul Myners's
consultation paper on the UK’s application of pre-emption rights, which was
published early last month, is 16 December. More
>>
IAS 39
Accounting standard needs a rethink
Sir Andrew Large, deputy governor of the Bank of England, used a recent speech
to argue that the IAS 39 situation had created an unsatisfactory position
whereby there are now effectively two versions, one proposed by the
International Accounting Standards Board and the other by the European
Commission. More >>
BAE Systems
SFO investigates false accounting claims
BAE Systems has said it will co-operate fully with a Serious Fraud Office (SFO)
investigation of suspected false accounting which it announced last month.
More >>
News Corporation
Media giant adopts poison pill
News Corporation completed its re-incorporation from
Australia to the US last month. The company, now a Delaware corporation, is
listed on the New York Stock Exchange. More >>
Hollinger
SEC files complaint against Black
The Securities & Exchange Commission (SEC) has filed a complaint against the
former chairman and chief executive of Hollinger International, Conrad Black,
the former deputy chairman and chief operating officer, David Radler, and
Hollinger Inc, which is controlled by Black. More >>
Financial Services Authority
Regulator moves to define acceptable practice
The Financial Services Authority (FSA) has clarified in
a recent statement the areas where it does not believe that investment companies
can pay for brokerage services using commissions.
More >>
Marks & Spencer
Board shake-up at struggling retailer
Stuart Rose, chief executive of Marks & Spencer, announced board and senior
management changes as part of his interim results statement. Rose said he would
now be directly responsible for retailing, merchandising and buying.
More >>
Corporate Social Responsibility
CSR Reporting
More reports but improvements still needed
CSR reports need to be shorter and sharper with quality more important than
quantity according to the fourth annual report of CSR reporting, Directions 04,
produced by corporate branding agency, Salterbaxter, and CSR strategy and
communications consultancy, Context. More >>
Governance in brief.....
MyTravel gains court backing
for restructuring
In a decision at the High Court, struggling tour company, MyTravel Group, was given the go
ahead to restructure through a scheme of arrangement without the approval of
its convertible bondholders. More >>
CSR in brief.....
Prospect of draft corporate
killing bill welcomed
The recent Queen’s Speech announced that the government is to publish a adraft
corporate killing bill. This was generally welcomed by trade bodies with the
Institute of Directors saying that it was an original supporter of the Home
Office consultation in 2000 on the need for legislation.
More >>
Conferences
Topical governance and CSR-related conferences.
More >>
December 2004
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