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Latest Parmalat Stories

2008-09-08 09:00:19

Expand Networks, www.expand.com, a leading provider of application acceleration solutions over the Wide Area Network (WAN), today announced Parmalat (PTY) Ltd, producers and distributors of milk and dairy products, has implemented Expand's WAN Optimization technology, improving the performance of the organization's WAN and satellite links while removing the cost of constant bandwidth upgrades. Operating in the competitive FMCG industry, Parmalat requires fast and secure communication...

2008-07-17 18:00:39

NEW YORK, July 17 /PRNewswire/ -- A multi-national notification program has begun, as ordered by the United States District Court for the Southern District of New York, to alert investors, brokers, financial institutions, and other nominees who bought the common stock and/or bonds of Parmalat Finanziaria S.p.A. and its subsidiaries and affiliates from January 5, 1999 through and including December 18, 2003 about a partial settlement of a class action. The lawsuit alleges that Parmalat and...

2008-06-19 03:00:17

One of the rivals to New Zealand's Fonterra for Australia's Dairy Farmers says it will split up Dairy Farmers if it succeeds in buying it. Italian dairy company Parmalat, in combination with Victorian co- op Murray Goulburn, has told the Australian Competition and Consumer Commission that it would form a new firm, to be 51%-owned by Parmalat, which would merge the fresh milk businesses of Dairy Farmers, Parmalat and Murray Goulburn. The Goulburn- Parmalat venture, the Kirin- owned National...

2008-06-16 09:00:53

Italian food group Parmalat has settled all pending disputes with UBS, a global provider of financial services. In accordance with the agreements reached, UBS will pay E149.14 million to Parmalat in relation to the revocatory action; E33 million in settlement of damages actions for the internal liability related to UBS; and E2 million to the extraordinary commissioner, to the benefit of the companies under extraordinary administration. According to the company, UBS has waived the right...

2005-10-21 07:20:23

By Lisa Jucca MILAN (Reuters) - Italy's best-known stand-up comedian made financial headlines two years ago for seemingly predicting the spectacular collapse of dairy firm Parmalat. Now, the caustic Beppe Grillo is taking aim at the Bank of Italy's embattled governor, Antonio Fazio. During the summer, when political leaders were hesitating over whether to call for Fazio's resignation over a banking scandal, Grillo raised funds through his Web site to buy a full-page newspaper...

2005-09-28 05:19:53

By Giada Zampano MILAN (Reuters) - Parmalat founder Calisto Tanzi, 15 other executives and two financial institutions face a Milan judge on Wednesday in the first major trial over the dairy group's collapse in December 2003. The executives were sent to trial in June after eight months of preliminary hearings, on charges including market-rigging, false auditing and of hindering the work of regulators. The Italian office of auditors Deloitte & Touche and Grant Thornton's former...

2005-08-09 11:49:31

NEW YORK (Reuters) - A U.S. federal judge is allowing Parmalat Finanziaria SpA to proceed with its $10 billion lawsuit against Bank of America Corp., but dismissed most of the Italian food company's claims. Judge Lewis Kaplan of the U.S. District Court in Manhattan granted Bank of America's motion to dismiss 10 of 12 counts, and parts of the two others. He gave Parmalat permission to replead two of the dismissed counts. Parmalat's administrator, Enrico Bondi, sued the two largest U.S....


Word of the Day
callithump
  • A somewhat riotous parade, accompanied with the blowing of tin horns, and other discordant noises; also, a burlesque serenade; a charivari.
'Callithump' is a back-formation of 'callithumpian,' a 'fanciful formation' according to the Oxford English Dictionary. However, the English Dialect Dictionary, says 'Gallithumpians' is a Dorset and Devon word from the 1790s that refers to 'a society of radical social reformers' or 'noisy disturbers of elections and meetings.'
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