SHANGHAI — British Prime Minister David Cameron on Tuesday mounted a robust defense of GlaxoSmithKline’s (GSK.L) business practices in China — where it is being investigated for alleged bribery — calling the firm «very decent».
Cameron’s intervention came a day after he raised GSK’s situation with China’s top leadership in a move one person familiar with the conversation said was designed to draw a line under the company’s woes and ensure it was treated fairly.
Posted in Total
Tagged china, gsk, with
NEW YORK — SAC Capital Advisors portfolio manager Michael Steinberg deliberately avoided telling his boss Steven A. Cohen that he was trading on Dell Inc with inside information, a former analyst at the hedge fund testified on Monday.
Jon Horvath, the U.S. government’s star witness against Steinberg in the insider trading case, told a jury in Manhattan federal court that Steinberg had to reassure Cohen in November 2008 about his bets on Dell DELL.SN which were contrary to Cohen’s own sense and the market wisdom at the time.
Posted in News
Tagged cohen, dell, horvath
NEW YORK — Jamie Dimon, chairman and chief executive of JPMorgan Chase & Co (JPM.N), got a 74 percent pay increase for 2013, when $20 billion of legal settlements weighed on the bank’s income.
The CEO received $20 million, including $18.5 million of restricted stock recently awarded, the company said in a public filing on Friday. Read more
Posted in News
Tagged bank, dimon, jpmorgan
ZURICH — Demand for chocolate is picking up, boosted by strong sales of gourmet products, the world’s biggest supplier to the industry said on Wednesday, as it blamed capacity constraints and a lull in outsourcing deals for slower growth in its sales volumes.
Barry Callebaut (BARN.S), which makes chocolate for the likes of Nestle (NESN.VX) and Mondelez (MDLZ.O), said on Wednesday consumers in the Americas in particular were flocking to premium chocolates.