HSBC retail bank last week, an accounting report disclosed that the bank in 2010 to its executives actual bonuses of £ 5,019,000, instead of the original disclosure of £ 3,076,000. HSBC said in a statement footnotes, "re-announced the" accounts "reaction deferred incentive pay for staff services. Some experts say repeat accounting correction, this is another instance of of HSBC confusion accounting principles World steel pipe network editing . HSBC Bank as a subsidiary of HSBC Holdings, the initial use of international financial reporting standards (IFRS), to allow companies to ignore most of the deferred compensation program. While the rest of the UK banking industry criticized the use of a similar standard to circumvent the regulatory law. British corporate law provides that any amount paid or payable "must be displayed in the books, must all be recognized as a liability rather than just a part as a special year line-item.
Oil pipeline operator TransCanada executives said on Tuesday that will be submitted to a bypass Nebraska dunes, oil oil pipeline to connect the United States and overseas, Texas, to circumvent environmental activists protest. TansCanada also plans to build a connection from the Cushing, Texas oil pipeline in late spring early autumn. The pipeline plan the delivery of refined oil from the Alberta tar sands layer to Texas. The last segment of the pipeline construction must be approved by the U.S. federal government, because the pipeline across the border. The U.S. government in Obama's behest, recently rejected the long-distance pipeline projectsWorld Steel Pipe . Said TransCanada must find a way to bypass the path of the sand dunes and the Ogallala aquifer protection area, because the latter is the main source of water in the U.S. state of eight.
Daily Telegraph: HSBC to pay bonuses to executives in 2010 is higher than the published value of 64%
Increasing the success of the concern of Greece replacement agreement and there have been reports that the European economy to shrink the U.S. stock market fell, leading to the S & P 500 Index to a record this year, the largest decline. Ten forum of the S & P 500 fell, financial, industrial and commodities stocks, the largest decrease. Alcoa, Caterpillar and Bank of America fell more than 3.2%. New York time yesterday, 16:00 market close, Standard & Poor's 500 fell 1.5 percent to 1343.36 points, marking the largest decline since December 8 last year. Michael Koskuba of Victory Capital Management, manager of the company, said that the aversion of investors' uncertainty over bad news. Currently exist Xi debt exchange to participate in the adequacy of the doubt. Afraid of the market such as the development of the situation does not match the majority of expected, fear of Europe more serious recession. Greek debt replacement on the 8th of this month cut-off, private investment is only about 20% of the exchange requirements in exchange for debt relief. In addition, the Economic Report, the previous quarter economic contraction in Europe, the EBRD's balance sheet surged to 3.02 trillion euros, a record high record.
"USA Today": Canadian pipeline operators to submit a new pipeline routes to get there
Times of India: India's Essar Energy may exit the FTSE 100 index
Prius, Toyota Motor Corporation, Japan, February car sales champion, ranked for nine consecutive months of sales chart top, Prius sales in February over the same period last year doubled, to 35,875 vehicles. Japanese car sales Federation of Associations with the National Federation of light Automobile Association announced on the 6th February car sales rankings, Toyota mini-van sales ranked second, reaching 24,973 vehicles, an increase of 48 percent over the same period last year, bit top the list of Daihatsu Mira brand of small cars, a new high record sales of 22,023 vehicles, an increase of 3.2 times over the same period last year. The data show that Toyota's on sale in late December last year a small the hybrid AQUA2 month sales of 21,951 from the sales charts in January 5 to 4.
Washington Post: The situation in Europe is worrying the S & P 500 this year the biggest decline
The New York Times: Texas financial sector, $ 7 billion Stanford Ponzi fraud convicted
Financial Times: Greece said it would not participate in the debt restructuring plan, bondholders breach
Greece has threatened, will any bondholders breach of contract not to participate in the debt restructuring program. Officials believe that the 206 billion euros worth of debt restructuring plan is the key to restore the solvency of the Greek government. The eve of tomorrow the deadline, the Greek move for those bondholders may refuse to participate in the program to increase the pressure. According to projections, the debt restructuring for the Greek government to reduce the 100 billion euros in debt, but to achieve this goal, there must be 95% of bondholders involved in the reorganization. Charles Blitzer, former senior officials of the IMF, said: "Greece has not said not to pay, but it made such a threat. "The spearhead of this threat, in particular, point to the investors of those who hold Greek bonds issued in accordance with international law, they accounted for 14% of all investors. Greek debt restructuring will mark the first time in more than 60 years the breach of a developed economy, and marks two years of the European debt crisis bottomed out.
Japan Times: Toyota Prius sales for nine consecutive months topped the list
George Osborne, the British Chancellor of the Exchequer in the Budget commitment to provide cheap loans to British small businesses, outside the long-awaited credit easing program. Last year, George Osborne in the British Parliament issued a statement, announced the launch of a national loan guarantee scheme, the scheme for implementation in the Ministry of Finance announced on March 21 Budget. According to the 20 billion pounds of loans, Treasury will be part of the small business bank loan guarantees, to reduce their financing costs, while helping to reduce the bank's borrowing costs, lower interest rates on small business loans. John Walker, Chairman of the British Federation of Small Business, small business credit easing program, welcomed the plan ultimately help companies to lower borrowing costs.
India's Essar Energy in June 2010 to join the London Stock Exchange FTSE 100 index, Essar company may withdraw from the index in the evaluation of the quarterly index released Wednesday, the FTSE 100 index 100 in assets of the London Stock Exchange listed companies, once per quarter changes. India's Essar Energy in May 2010 initial public offering to raise 1.2 billion pounds of capital, becoming the largest initial public offering of the London Stock Exchange since 2007, after the company's market capitalization has been reduced by more than 70%. Two Essar Energy company's share price fell by 6 percent this week, to 100 pence, valuing the company fell to 1.4 billion pounds, with Tuesday's closing price for the benchmark FTSE 100 index quarterly report, also withdrew from the FTSE 100 index and Essar Energy Cairn Energy, the company's shares fell 3.5 percent to 320 pence, valuing the company fell to 1.8 billion pounds.
The Guardian: British Chancellor of the Exchequer promised guaranteed loans for small businesses
U.S. federal court ruled that a Texas financier Allen Stanford (R. Allen Stanford) 13 to defraud, since he was 20 years of business on a global scale a scale of $ 7 billion Ponzi scheme. Court trial lasted six weeks, three years ago at Stanford, Stanford International Bank certificates of deposit fraud 30,000 investor suspected of use in 113 countries, Stanford International Bank in the Caribbean island of Antigua. Prosecutors said the Stanford 20 years has been to rely on lies to promote their own investment products, and his reliance on this Ponzi scheme to create for themselves a life of luxury, and maintain a secret account in a Swiss bank, and he operated the business has been at a loss . Stanford Bank's Chief Financial Officer Davis is found guilty of the main witnesses of the prosecution, he testified that Stanford fraud rely Antigua supervisor constantly bribes to evade federal law enforcement investigation.