Telegraph BusinessBusiness news from telegraph.co.ukIraq oil-for-food lawsuit names drug giants- July 2, 2008 Baghdad has begun legal action against dozens of companies, including drugs groups GlaxoSmithKline and AstraZeneca, which have denied any wrong doing, seeking about $10bn (5bn) in compensation over the UN oil-for-food scandal.http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/02/cniraq102.xml Moodys to discipline staff for breaking rules- July 2, 2008 Credit ratings agency Moodys Investor Service has begun disciplinary proceedings against a number of staff who broke its rules by giving high triple-A ratings to complex debt vehicles that should have been rated lower.http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/02/cnmoody102.xml Grand Theft Auto IV helps HMV drive up profits- July 2, 2008 Strong demand for video games such as Grand Theft Auto IV has driven profits up 25pc at HMV.http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/02/cnhmv102.xml Taylor Wimpeys finance chief to quit- July 2, 2008 Taylor Wimpey will today announce the departure of its finance director and alarm the market with news that an emergency 500m cash injection to repair its shattered balance sheet is not yet in the bag..http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/02/cnwimp102.xml Sales drop at main US carmakers- July 2, 2008 America's automobile sector received more bad news as sales at its three biggest car manufacturers dropped last month.http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/02/cnuscars102.xml Grasso wins fight for $187m package- July 2, 2008 Rivals rallied around Lehman Brothers as rumours of a "fire sale" swirled around the market, forcing the bank's shares to eight-year lows.http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/02/cngrasso102.xml WPP calls for merger clarity- July 2, 2008 WPP has called on rival market research firm Taylor Nelson Sofres (TNS) to clarify whether its merger with GfK could be scuppered by the German group's largest shareholderhttp://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/02/cnwpp102.xml Lloyd's of London 'Names' face bankruptcy after court loss- July 2, 2008 More than 30 Lloyd's of London "Names", some owing more than 1m each, face bankruptcy after losing a key court case against the world's oldest insurance market.http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/02/cnnames102.xml US buyout group in approach to Informa- July 2, 2008 Informa, the business-to-business media group, has received an approach from a consortium of US private equity firms valuing the company at around 3.4bn, including debts.http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/02/cninf102.xml Surge in oil price sparks fears of food crisis- July 2, 2008 It is unclear how energy problem will be resolved, reports Ambrose Evans-Pritchard.http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/02/ccoil102.xml |