Announcement

Welcome to Haaba.com, a global news portal dedicated to publishing and reporting current events in Africa, in real-time.

Eight arrested as part of British insider trading probe

LONDON, July 29, 2008 (AFP) - Police in London arrested eight people Tuesday in connection with a major investigation by Britain's financial watchdog into insider dealing.

The operation, which involved 40 Financial Services Authority (FSA) staff and officers from City of London Police, saw a number of properties searched across London and southeast England, the FSA said.

  • 0
  • Comments

Airbus chief slams EADS probe as 'show trial'

FARNBOROUGH, July 13, 2008 (AFP) - Airbus boss Thomas Enders on Sunday blasted as a 'show trial' the insider trading probe into managers from its parent firm EADS.

'This is a show trial. This is bad theatre... I think that has to be said very clearly,' he told a seminar in Farnborough, England, ahead of Monday's opening of the airshow here.

  • 0
  • Comments

EADS manager held for second day in French custody: sources

PARIS, July 10, 2008 (AFP) - The head of a German EADS subsidiary, former top Airbus executive Andreas Sperl, was held in French custody for a second day Thursday for questioning over alleged insider trading at the aerospace group, judicial sources said.

  • 0
  • Comments

Top EADS manager held in French insider trading probe: sources

PARIS, July 9, 2008 (AFP) - A former top Airbus executive and current head of a German EADS subsidiary, Andreas Sperl, was held for questioning in France on Wednesday over alleged insider trading at EADS, sources close to the case said.

  • 0
  • Comments

Top EADS executive held in French insider trading probe: sources

PARIS, July 9, 2008 (AFP) - The former chief financial officer of Airbus, and current head of the EADS plant in Dresden, Andreas Sperl, was taken into French custody on Wednesday for questioning over alleged insider trading, sources close to the case said.

  • 0
  • Comments

German officials end stock probe of Air Berlin boss Hunold

FRANKFURT, July 9, 2008 (AFP) - German justice officials have closed a probe of Air Berlin boss Joachim Hunold for suspected insider trading, saying on Wednesday they did not have enough evidence to pursue the enquiry.

  • 0
  • Comments

Ex-EADS head Forgeard sues over leaked police interviews

PARIS, June 6, 2008 (AFP) - Former EADS head Noel Forgeard, charged with insider trading at the European aviation group, said Friday he is suing an unknown person after police interview details were leaked in the French press.

  • 0
  • Comments

Former EADS head ordered to pay one million euro bail: source

Former EADS chief Noel Forgeard has been ordered to pay one million euros in bail after he was charged with insider trading at the European aviation group, a source close to the case said Friday.

Forgeard, 61, is accused of selling company shares just months before the European Aeronatics Defence and Space company revealed production delays with its A380 superjumbo.

  • 0
  • Comments

Former EADS chief Forgeard ordered to pay one million euro bail

Former EADS head Noel Forgeard has been ordered to pay one million euros in bail after he was charged for insider trading at the European aviation group, a source close to the case said Friday.

Forgeard, 61, has been accused of selling company shares just months before the European Aerospace Defence and Space company revealed production delays with its A380 superjumbo.

  • 0
  • Comments

Former EADS chief charged for insider trading: lawyer

Former EADS chief Noel Forgeard was charged late Thursday with insider trading for selling company shares just months before the European aviation group revealed delays with its A380 superjumbo, his lawyer said.

  • 0
  • Comments

Noel Forgeard: the planemaker who fell from grace

Noel Forgeard, who has been charged with insider trading, reached the pinaccle of the European aerospace industry before falling from grace over delays in the A380 superjumbo and his sale of company stocks.

  • 0
  • Comments

Former EADS chief charged for insider trading

Former EADS co-chief executive Noel Forgeard has been charged with insider trading over selling company stock in the months before the European aviation group revealed production delays with its A380 superjumbo, his lawyer said Friday.

  • 0
  • Comments

Judges grill former EADS boss over insider trading

The former co-chief executive of European aerospace group EADS, Noel Forgeard, faced questioning from investigating magistrates Thursday as judicial sources suggested that insider trading charges against him are imminent.

  • 0
  • Comments

Former EADS chief may be charged for insider trading: source

A French magistrate was on Thursday to formally charge former EADS head Noel Forgeard with insider trading, a source close to the case said.

Forgeard, 61, has been held since Wednesday by police and his detention has been extended by 24 hours.

  • 0
  • Comments

Former EADS head kept in custody over insider trading

Noel Forgeard, former co-chief executive of European aerospace group EADS, will be held in custody for another 24 hours on suspicion of insider trading, a source close to the case said Thursday.

  • 0
  • Comments

Former EADS head kept in French custody

Noel Forgeard, former co-chief executive of European aerospace group EADS, will be held in custody for another 24 hours for questioning over suspected insider trading, a source close to the case said Thursday.

  • 0
  • Comments

Police detain former EADS head over insider trading: source

The former co-chief executive of European aerospace group EADS, Noel Forgeard, was taken into police custody Wednesday for questioning over suspected insider trading, a source close to the case said.

Forgeard, 61, arrived at the Paris offices of the financial fraud squad accompanied by his lawyer.

  • 0
  • Comments

Police detain former EADS head over insider trading: source

The former co-chairman of aerospace group EADS Noel Forgeard was taken into police custody Wednesday for questioning over suspected insider trading, a source close to the case said.

Forgeard arrived at the Paris offices of the financial fraud squad accompanied by his lawyer.

  • 0
  • Comments

Former EADS co-head Forgeard summoned by financial police: sources

PARIS, May 26, 2008 (AFP) - Noel Forgeard, former co-chief executive at European aerospace group EADS, has been called to appear before the French financial crime unit in connection with a probe into alleged insider trading, sources close to the matter said Monday.

They said Forgeard, who resigned in July 2006, was to appear Wednesday.

  • 0
  • Comments

German market watchdog seeks insider trading probe of IKB: report

FRANKFURT, April 23, 2008 (AFP) - German financial markets regulator BaFin has uncovered enough evidence of insider trading at troubled business lender IKB to ask for a criminal investigation, a press report said Wednesday.

  • 0
  • Comments

French regulator sends EADS inside trading file to prosecutor

PARIS, April 9, 2008 (AFP) - France's financial regulator said on Wednesday it had sent its dossier on possible insider trading at European aerospace giant EADS to the Paris public prosecutor.

'It has also notified the persons concerned,' said a spokeswoman for the Financial Markets Authority (AMF).

  • 0
  • Comments

Airbus chief rejects insider trading allegations

AUCKLAND, April 9, 2008 (AFP) - The head of European plane-maker Airbus said Wednesday that he and other officials were innocent of insider trading, and rejected a French probe into the allegations as incomptent.

  • 0
  • Comments

Airbus chief slams insider trading probe

AUCKLAND, April 9, 2008 (AFP) - Airbus chief Tom Enders said Wednesday he and other executives reportedly named as suspects in a French regulator's probe into insider trading at parent company EADS are innocent.

'I know I have done no wrong-doing and I say the same for all the managers who are supposedly involved in that,' Enders told an Airbus media briefing in Auckland.

  • 0
  • Comments

French watchdog probe targets 17 top EADS, company officials: report

PARIS, April 8, 2008 (AFP) - French regulators probing insider trading charges at European aerospace giant EADS are looking at 17 top officials, including one of the group's former chief executives and the current head of EADS unit Airbus, a report said Tuesday.

  • 0
  • Comments

French watchdog finds insider trading at EADS

PARIS, April 1, 2008 (AFP) - French regulators said Tuesday they had found evidence of insider trading at European aerospace giant EADS before it revealed delays on its A380 superjumbo airliner that caused the stock price to plunge.

The Financial Markets Authority (AMF) said it would send its findings 'immediately' to the Paris prosecution service.

  • 0
  • Comments

Gallois calls on EADS staff to hold steady against pressure

PARIS, April 1, 2008 (AFP) - Louis Gallois, chief executive of European aerospace giant EADS, has called on staff to hold steady as the company faces perhaps years of public scrutiny following allegations of insider trading.

  • 0
  • Comments

French watchdog sends EADS insider trading file to prosecutor

PARIS, April 1, 2008 (AFP) - French regulators said Tuesday they had found evidence of insider trading at European aerospace giant EADS before it revealed delays over its A380 superjumbo airliner which caused the stock price to slump.

The Financial Markets Authority (AMF) said it would send its findings 'immediately' to the Paris prosecution service.

  • 0
  • Comments

French stock authority alleges insider trading within EADS

PARIS, April 1, 2008 (AFP) - The French financial markets authority announced on Tuesday that it had found evidence of insider trading within European aerospace group EADS in 2005 and 2006.

The financial markets authority AMF said in a statement it had informed several people of its findings and that the file would be sent immediately to the Paris prosecutor.

  • 0
  • Comments

French judges put Warner Music CEO under formal investigation

PARIS, Feb 7, 2008 (AFP) - French judges have placed the head of Warner Music, Edgar Bronfman Jr, under formal investigation as part of a probe into French media giant Vivendi Universal, legal sources told AFP on Thursday.

  • 0
  • Comments

Societe Generale denies insider trading claims

PARIS, Jan 29, 2008 (AFP) - Societe Generale denied Tuesday that a member of its supervisory board had insider knowledge of trading losses before he dumped millions of euros in shares in the French bank.

The bank said in a statement that American Robert Day 'was not advised' about trading losses before he sold shares worth 85.7 million euros (126 million dollars) on January 9.

  • 0
  • Comments

Societe Generale targeted in suit for insider trading

PARIS, Jan 28, 2008 (AFP) - About 100 Societe Generale shareholders have filed suit for insider trading and manipulating share prices after the French bank revealed multi-billion-euro losses, a lawyer said Monday.

  • 0
  • Comments

EADS, Airbus chief file complaints against leaks in stock probe

FRANKFURT, Oct 31, 2007 (AFP) - European aerospace group EADS and the head of its aircraft maker Airbus have filed a complaint in France for violation of secrecy linked to an insider trading probe, a press report said Wednesday.

Airbus chief Thomas Enders filed a complaint against unknown persons with the Paris prosecutor following the publication of press articles related to the case, the Financial Times Deutschland said on its Internet site, quoting an EADS spokesman.

  • 0
  • Comments

Villepin defends his role in EADS share price flap

PARIS, Oct 30, 2007 (AFP) - Former French prime minister Dominique de Villepin insisted Tuesday he was unaware of problems at Airbus before their official disclosure in June 2006, a revelation that sparked a plunge in the share price of Airbus parent EADS as well as an insider trading probe.

'At no time was Matignon (the office of the prime minister) informed of difficulties at Airbus until they were made public by the company itself in June 2006,' Villepin told the Senate finance committee.

  • 0
  • Comments

Fresh allegations in EADS insider trading investigation: press

PARIS, Oct 27, 2007 (AFP) - Airbus manufacturer EADS denied reports in French daily Le Monde Saturday that it had published misleading information now being investigated by French financial markets regulator AMF.

The European Aeronautic Defence and Space (EADS) group 'has nothing to reproach itself in its financial communication and has always informed the markets on time,' a company spokesman told AFP.

  • 0
  • Comments

German voted EADS chairman, Lagardere on board

AMSTERDAM, Oct 22, 2007 (AFP) - Germany's Rudiger Grube was elected Monday chairman of Airbus manufacturer EADS while Arnaud Lagardere, who previously shared the top job, took a seat on the board of Airbus.

An extraordinary shareholders meeting, held amid insider trading allegations at EADS, named Grube to head the company with nearly 99 percent of the votes while Lagardere won his seat with 97.5 percent.

  • 0
  • Comments

Lagardere wants to stay on EADS board despite share scandal

AMSTERDAM, Oct 22, 2007 (AFP) - Arnaud Lagardere, chief executive of the Lagardere group, insisted Monday he would stay on the board of directors at Airbus manufacturer EADS despite an ongoing insider trading scandal.

Rudiger Grube, his co-chairman of European Aeronautic Defence and Space (EADS), told shareholders meeting in Amsterdam that 'it was not the proper place to raise questions' about the scandal, but they still went ahead.