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Inside the News: Woodford abandons Olympus CEO bid

Friday, January 06, 2012 - 04:03

Jan. 6 - The ousted British CEO of Olympus, Michael Woodford, has dropped his bid to return to the disgraced Japanese optical group.

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I had remained of the country then. You can't sue the company Richard Erica. Michael what's been dropped his bid to come back -- Olympus chiefs. Blaming a cozy management -- compensated -- taken its -- on his family. The man who bring the whistle on a one point seven billion dollar accounting fraud says he'll now soon. I'm fed dismissals are Joseph's in Hong Kong has the full story. Actually it's been a three month battle for -- -- to get his old job back but finally today the British whistle -- calling it quits at a press conference in Tokyo. Now -- and Woodward couldn't get support from Japanese institutional shareholders. They're the ones who control the company and he says it's evidence that things have not changed in the cozy and closed door corporate world has to happen. Only in Japan. Can you have companies appointing an independent committee. If he doesn't like it it will produce another independent committee. What would -- not quite finished with -- he's planning to sue over unfair dismissal Andy's instructed his lawyers to Begin legal action in Britain. And not the end of the wood for Olympus -- if the legal case goes on. -- could just be -- Begin -- Freddie thanks -- you're. No longer has any reason to -- its release says Italian PM Mario Monti you to meet France's Nicolas Sarkozy today. That's down -- one irate strategists like francoeur Vermont -- morning Eric you final Monty saying. And doing actual well -- whole -- -- like two to apply it I think the market is some of these experts who say enough confidences song. It was Mira Monte is suddenly in the immediate outlook for the -- richly and and his -- -- situation look at Wisconsin on how we gonna see any cars initially. A good question -- they would before we get to last night affiliate and need to see some some pretty impressive structural reforms put in place which they could -- Should just who didn't the the immediate growth outlook on the market is looking for that. And ultimately than that that those need to be addressed if the situation is to be rectified by the median times. On the nonfarm payrolls is a 150000. Enough to -- some. Strengthening US economy. Yeah I think the market is Korea is -- you -- saw the man now also was saying this week in terms of the manufacturing and services is of -- -- the I ADP report. Kelly we end markets we who are looking for -- for -- will we as a whole other that we can't want sixtieth cells. Com and nothing coming that there is suddenly so much evidence so. And I'm blowing -- -- gain traction and I. How do you train 15160. Calling us for Rihanna the night and not left often consensus that we who stuck in -- no relation to -- yet. This so -- in the middle of the range com if we do get a rally on Oklahoma. Perceived soft number I don't think gun next -- supply still gonna come into focus and what easily -- -- -- the guys who still think treasuries. Can outperform the likes of killed some -- in the mid tone. -- like many thanks -- While the -- Johnson gets top billing on counts upon he's a scathing piece from Huffington Post reminds US weapons that Obama has failed miserably on his 20089. And -- -- minimum wage pledge. The federal minimum wage stays at seven dollars and 25 cents. While he's on Royces this morning Iran is facing complex and its oil sales to China or Japan. -- a trade -- based in Beijing says China won't extend cuts in its purchases of Iranian oil in the next month. Europe's government this week or so agreed to -- Arabian oil imports. That is it from now we are heading into the weekend of course it's cold and damp again in -- like this -- looking -- -- California topic of the day comes from -- existence Arafat. -- -- -- I'm actual program this is -- this.

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Inside the News: Woodford abandons Olympus CEO bid

Friday, January 06, 2012 - 04:03