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Lewis Hamilton made perhaps the most prescient statement of recent times in Formula One. He said that Ferrari have a faster car than Mercedes. But Mercedes, he said, have the better team, saying that the systems, the strength in depth in all departments, the stability are what give him and team-mate Valtteri Bottas the machinery that allows them to do the job. And with four one-two finishes in the first four races, in each case at least in part due to Ferrari fluffing something, even in the dense air of below sea level Baku which should have increased the red cars' performance advantage, it's increasingly looking as if he's right. But the apparent Sunday afternoon jog for the two Mercedes drivers around the streets of Azerbaijan's capital, Baku, is as much to do with the failures of others as the strength of Mercedes. Ferrari are not the only ones struggling to get it together.
CoNet Section: 

Londoners, pay attention: slag isn't what you think it is. For those from mining communities, slag is what's left over after coal, etc. has been washed. It's poured into conical mountains and left lying around, in theory to dry but occasionally the slurry undermines it and it slides down whatever gradient it is sitting on, sometimes with terrible results, as in the Welsh mining village of Aberfan in 1966. What might be in those "ancient slag" heaps in addition to wet dust? A 77 year old Californian claimed to know and to have a method of extracting the good stuff.

FCRO Subsection: 

It's a fine point and one which raises hackles on both sides: should a state (which means the taxpayer) fund legal action against the state (which means the taxpayer as represented by elected members) where the action complained of is itself an action against the state (which means society at large)? It's an area where law, emotion and common sense collide and the result is not a pretty sight.

CoNet Section: 

A recent court action against a car hire company demonstrates that the insurance sold with the car is not necessarily what hirers think it is.

In the UK last year, 33 people were killed in agriculture, eight of them while handling cattle.

ASIC says that fixed coupon structured products are "complex, capital-at-risk products tied to the performance of reference shares," a definition that proves its point. Citigroup's advisers gave general advice, the company said. ASIC said retail customers "may have [been] led .. to believe that Citigroup was providing personal advice."

BIScom Subsection: 

F1 is fascinating for many reasons: one is the fact that there are days when one tiny event means not winning, when nearly perfect isn't good enough. And there's the fact that it's a brutal sport where fairness goes out of the window as soon as the lights go out at the first race of the season. Just three races into 2019 and it's already clear that even though much has changed, much has stayed the same.

CoNet Section: 

This day had to come: Marc Marquez has, unusually, been defeated by the forces of nature. Holding a commanding lead at the US GP at the Circuit of the Americans in Austin, one of the most fundamental aspects of motor-racing was demonstrated and he fell off leaving the result of the race, and the Championship, to cause more shaking of heads than a room full of joyous fan-boys.

CoNet Section: 

A solicitor (attorney) who was advising a company on a proposed purchase of a large stake in another company has been accused of using non-public information to make share transactions and profit therefrom.

BIScom Subsection: 

Case Summary: 

Two bankers have been jailed for a total of nine years for fixing (technically "manipulating") the Euro Interbank Offered Rate (EURIBOR) when the global financial crisis was at its worst. An associate who was previously convicted has been ordered to forfeit, under proceeds of crime legislation, less than 5% of his gain from the fraud.

Type of conduct: 
Other financial crime

The Hong Kong Monetary Authority (HKMA) today announces a new service schedule of the two “Coin Carts” under the Coin Collection Programme, for the period of 20 May 2019 up to 28 July 2019. The schedule and other details of the Programme are shown on the HKMA webpage (coincollection.hkma.gov.hk). (press release) .

Comment: Virtual banking is recognised, cryto-currencies are not.

BIScom Subsection: 

This newspaper has long argued that items such as goodwill and brand values should be excluded from balance sheets as they are nebulous, cannot be accurately calculated and give a false value to companies. So, we argue, does valuing companies on "revenue" and artificial straight line depreciation saying that fixed assets and profit are the only true measures of a company's value to shareholders. Once again, it is reported by a market regulator, a company is "writing down" goodwill. It's time for a radical rethink on how companies, especially listed companies, are valued.

CoNet Section: 

Charles Leclerc fumbled the start and saw his pole position evaporate. It was the only thing he did wrong in the entire race as he took the lead in an audacious move on his team leader, Sebastian Vettel, and didn't look back for the simple reason there was no one to see in his mirrors. Until gremlins arrived.

CoNet Section: 

I should say up front that I am not a fan of DRS but I concede that, sometimes, it's helped spice up what was an otherwise processional race. But in F1 this year, there seems to be a plan to have more DRS zones. Last night's race in Bahrain had three. When DRS was introduced, tracks had one. And, last night, DRS made an extremely positive contribution to the race but its contribution was limited and artificial. What if the DRS rules were changed to remove the limitation and artificiality?

CoNet Section: 

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