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  Conor Foley former CEO of Worldspreads Worldspreads’ board and the Financial Services Authority were alerted to an alleged fraud at the group’s former Irish unit three months before Worldspreads filed for administration in March, citing accounting irregularities. The board of Marketspreads, formed by a 2009 buyout of Worldspreads’ Irish business, wrote to the Worldspreads board…

WTI crude oil went below $93 a barrel yesterday and Brent crude oil dropped to $110 a barrel. In early February, WTI crude was trading above $110 a barrel, so the price has dropped an astonishing 15% in the last 3 months or so.  Gold is trading at $1536, compared with $1612 at the beginning…

Looks like the various interested parties in Plus are re-circling the carcass of Messrs Cyril Theret (CEO) and Chairman Malcom Basing’s car crash… Following Spencer Wilson’s (of Amara Dhari – an 18% shareholder) vocalisation in the press yesterday of many shareholders (and Plus Market company members) sentiments on the current management of Plus, we understand…

You can bet the market will pick up ahead of this Fridays listing of Facebook – the “powers that be” (no not Voldemort!) will ensure that for certain! However, more cracks seem to be appearing in the Facebook story with the WSJ reporting that GM the automaker is to stop paying for on-line ads with…

  If we close down today in the US then this will be the longest run of losses since last November and stretching towards the run of down days leading into March 2009…  Sentiment remains very poor as detailed in our blog of Sunday and value is all around in equities. It is, by its…

  “The danger is we have an excessive regulatory environment, combined with the adversity to risk. This has essentially created an impact that is affecting growth,” So regulation is a bad thing Mr Theret? Trying telling that to the many victims of poorly managed companies and crooked management. “When I took over at Plus I…

The fallout from the Greek election result continues unabated,with riskier assets continuing to be sold off and safe havens such as US Treasury bonds, UK gilts and the US dollar in demand. The euro continues its decline as an exit for Greece from the eurozone seems more likely than ever. With Greek politicians unable to…

UPDATE (1) “Existing cash resources will support Plus as it closes the gap to profitability, anticipated in 2012”  “The Board will then consider what steps to take to either return residual value, if any….” – May 14 2012 Which one makes sense? Someone has been misleading the market…. Market misinformation = market abuse. I have…

Sentiment is a good measure when trying to assess where we are in the market and in attempting to guess the next move. Invariably, this data should be interpreted in a contrary manner, ie when everyone is long – be wary but particularly so on the downside – when everyone is downright bearish and fundamental…

Gulfsands Petroleum shares have been hit heavily in recent months primarily due to the spillover effects of the Arab uprising and in particular the civil strife in Syria – a region where the Company’s main exploration operations are based. Unfortunately for Gulfsands, the EU sanctions imposed on the Syrian Government resulted in the suspension of…