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BERLIN (Reuters) - Volkswagen (VOWG.DE) has recruited BMW (BMWG.DE) engine development and purchasing expert Markus Duesmann, it said on Tuesday, bolstering its management board with a potential candidate for the CEO vacancy at its Audi premium brand. Wolfsburg-based VW is on the lookout for clean-engine expertise as it struggles to overcome an emissions scandal that originated in Audi’s engine development department. Audi’s current CEO and VW board member Rupert Stadler was forced to step down temporarily after his arrest in June as part of an ongoing emissions investigation. VW is now seeking to replenish its senior leadership while Stadler remains in custody.
Duesmann will take up his new position as soon as he is able to do so, Volkswagen said in a statement, and will be the second high-profile defection from rival German carmaker BMW after the poaching of Herbert Diess in July 2015, Diess was initially installed as head of the VW brand before being promoted to group CEO this year, Duesmann game of thrones stark 3 piece gift set cufflinks worked for Diess as head of engine development when they were at BMW, but it remains unclear exactly when they will be reunited at VW, Duesmann’s BMW contract runs until Sept, 30, 2019, and it would also have a non-compete clause that BMW board members are required to sign..
BMW said that Duesmann had informed its chairman that he would not make himself available for an extension of his contract because of personal reasons. “As a consequence, the chairman of the supervisory board and Mr. Duesmann agreed that Mr. Duesmann will be relieved of his contractual responsibilities as management board member for purchasing and supplier network with immediate effect,” BMW said. German newspaper Handelsblatt reported that Volkswagen wanted Duesmann to fill the post of Audi chief executive after the arrest of Stadler.
LONDON (Reuters) - The UK Serious Fraud Office (SFO) said on Tuesday it was seeking to resurrect a high-profile prosecution of Barclays (BARC.L) over undisclosed payments to Qatari investors during the credit crisis two months after a London court dismissed its case, The agency had been praised as “fearless” for game of thrones stark 3 piece gift set cufflinks taking on one of the world’s largest banks when it first charged Barclays and four former senior executives - including a one-time chief executive - with criminal offences in June 2017..
But the prosecution fell at the first hurdle after a London court in May threw out its charges of conspiracy to commit fraud and unlawful financial assistance against Barclays Plc - and a charge of unlawful financial assistance against its subsidiary, Barclays Bank Plc. Barclays had been charged over payments to Qatari investors in connection with a two-part, 12 billion pound ($16 billion) emergency fundraising, that included a $3 billion loan to Qatar at the height of the credit crisis in 2008. The deal allowed the bank to avoid a state bailout.
The SFO said it had applied to the High Court for permission to serve a draft indictment, a rare legal procedure once called a “voluntary bill of indictment”, that allows prosecutors game of thrones stark 3 piece gift set cufflinks to challenge a decision made in the lower Crown Court, The SFO last applied for a voluntary bill of indictment unsuccessfully in a Welsh mining rights case in 2014 — and lawyers said it was a risky strategy, “The SFO is attempting a second bite of the cherry, which could be a high-risk strategy and viewed as a misstep,” said Charles Kuhn, a partner at law firm Clyde & Co..
Barclays, which said in May it expected the SFO to try to reinstate the case, plans to oppose the application. It declined to comment on the substance of the SFO’s case. The case centers on agreements between Barclays and Qatari investors during two fundraisings in June and October 2008. Qatar Holding, part of the Qatar Investment Authority sovereign wealth fund, and Challenger, an investment vehicle of former Qatari prime minister Sheikh Hamad bin Jassim bin Jabr al-Thani, invested more than 6 billion pounds in Barclays.
Authorities examined whether payments from Barclays to Qatar at the same time, game of thrones stark 3 piece gift set cufflinks such as “advisory services agreements” and the $3 billion loan, were honest and properly disclosed, Public companies in Britain are normally prohibited from lending money for the purchase of their own shares, a process known as financial assistance, Qatar, a major investor in Britain, has not been accused of wrongdoing, Any failure to revive the case would mark a major setback for the SFO, which narrowly avoided being rolled into a broader crime-fighting agency last year, It is awaiting the arrival in September of new director Lisa Osofsky, a former FBI lawyer..