THE Lazard UK Alpha unit trust, managed by Tony Willis, recently bought almost 75,000 shares in Pounds 2 billion media group United Business Media. He made the purchases in November and December. Thefund now holds 725,000 shares, or 0.22% of the company. UBM shares have risen sharply along with much of the media sector. Citywire.co.uk
BOND WATCH
JAPAN’S Ministry of Finance sold about five trillion yen (Pounds 25.9 billion) of foreign bonds to the Bank of Japan earlier this month to finance its intervention in currency markets, data from the central bank showed today.
Zembei Mizoguchi, vice finance minister for international affairs, said the BoJ was ready to act again.
SPEAKING OUT
The kinds of frauds we’ve been seeing related to both mutual funds and hedge funds may not be conducive to being discovered through routine exams. Rather, we find them through informants.
– SEC commissioner Cynthia Glassman, quoted in The Deal
IN PROSPECT
FORMER Enron chief accounting officer Richard Causey could face charges as early as today for his role in the financial scandal that drove the energy trading giant into bankruptcy, according to Enron taskforce insiders.
Causey has been expected to face charges since former chief financial officer Andrew Fastow pleaded guilty last week, implicating him.
