Latest news with #AndrewMartin
Bloomberg
6 days ago
- Business
- Bloomberg
Freepoint Commodities Ex-Analyst Claims Illegal Retaliation
A former senior analyst with Freepoint Commodities LLC claims he was fired from the energy-trading firm for resisting pressure to cooperate with executives in illegal insider trading, market manipulation and trade-theft schemes. The analyst, Andrew Martin, sued May 14 in Manhattan federal court claiming wrongful termination and retaliation by Freepoint, where he had worked for a decade. Martin claimed he was fired to prevent him from reporting alleged violations during a planned visit by the Federal Bureau of Investigation to Freepoint's Stamford, Connecticut, headquarters.
Reuters
7 days ago
- Business
- Reuters
Ex-analyst sues Freepoint Commodities, alleges pressure to facilitate insider trading
NEW YORK/HOUSTON, May 28 (Reuters) - A former senior analyst at U.S. trading company Freepoint Commodities has sued the company, alleging that top executives pressured employees to facilitate insider trading and retaliated against employees that objected. The lawsuit, filed in a New York federal court on May 14 by former employee Andrew Martin, claims Freepoint fired Martin in November to stop him from flagging unethical practices on the company's oil team during an FBI visit of its headquarters in December. The Stamford, Connecticut-based company has denied the allegations and said it dismissed Martin for performance-related reasons. "We will contest these spurious allegations from an employee dismissed for performance reasons," Freepoint said in a statement. Freepoint is still in a three-year deferred prosecution agreement with the U.S. Department of Justice (DoJ), which it entered in December 2023 as part of a settlement to resolve charges of bribing Brazilian officials. One of the conditions of that agreement was that Freepoint strengthen its corporate governance. Martin alleges in the lawsuit that Freepoint's global head of oil, Sarathi Roy, and head of refined products, Shai Barnea, sought to maximize Freepoint's profits by manipulating markets through solicitation of material, non-public information from oil producers and refiners. The lawsuit also alleges they distributed copyrighted material from subscription-based providers of market intelligence and research without permission. The events took place both before and after the settlement with the DoJ, according to the lawsuit. Neither Barnea nor Roy responded to Reuters requests for comment. The lawsuit alleges that Barnea pushed Martin to leverage personal contacts at Shell's Deer Park Refinery in Texas to gain non-public insider information on a labor strike there in 2015. Martin worked at Shell Trading before he joined Freepoint in 2014. The suit alleges that Barnea intended to trade on that information and that could have impacted gasoline prices in the U.S. Gulf Coast. Deer Park did not reply to a request for comment. The lawsuit alleges that Barnea also pushed Martin to misappropriate oil market analysis models that he had access to in his previous job at Shell Trading. Other Freepoint staff used data and tools from previous employers, considered trade secrets, as recently as summer 2024, according to the lawsuit. Shell Trading did not respond to a request for comment. Martin's lawsuit says he lodged complaints about Roy and Barnea promoting unethical behavior, and raised his concerns directly with Freepoint Chief Executive Dave Messer in August last year. Messer did not respond to a request for comment. Freepoint declined to give more details on Martin's performance, or answer questions about his claims. "It is our policy not to comment on pending litigation," Freepoint said. Martin said in a statement that he filed the lawsuit after pursuing his concerns with the company. "My aim is to reach a fair resolution and move on," he told Reuters. Barnea left Freepoint in recent weeks, according to two sources familiar with the matter. Reuters was unable to ascertain why he left. Freepoint declined to comment on Barnea's departure. Several other Freepoint traders and analysts have left from multiple locations worldwide in recent months, according to sources familiar with the matter. Those include Eli Reichner, a fuel analyst who worked at the company's Stamford headquarters. In Singapore, oil traders Zhang Peng and Joshua Dawe have left, two sources said. Reichner and Dawe did not respond to Reuters requests for comments. Peng could not be reached for comment.
News.com.au
18-05-2025
- Sport
- News.com.au
Corowa, Port Macquarie previews: What can the Pons do with a Drunken Sailor?
Former reinsman James Ponsonby is set to harness another of his bargain buys into a profit making machine when New Zealand-bred blue blood Drunken Sailor heads to Corowa on Monday. The four-year-old son of Ocean Park has banked $55,335 in the space of 11 starts for the Hawkesbury -based Ponsonby. Should he win today's Balldale Hotel Benchmark 58 Handicap (1600m), he will add another $13,950. All this from an initial outlay of just $1,250 at the Inglis January 2024 Online Sale. Drunken Sailor was purchased at Karaka at the NZB Yearling Sale in 2022 by TFI for the not insignificant sum of $220,000. They were the same original owners from whom Ponsonby purchased his iron-horse Philipsburg for $20,000 after an Aquis spend of $110,000, also at Karaka. 'The Burg', as he is known to his owners, including 2GB Radio's top-rating broadcaster John Stanley and SKY Racing presenter Andrew 'Marto' Martin, has won ten races and earned $626,142 with the promise of more to come. Drunken Sailor's Monday mission comes third-up into his present campaign and off a closing second at Queanbeyan on Mother's Day with Winona Costin in the saddle. Exceedingly Hot dominates in the third at Queanbeyan! ðŸ'° @KeatingsCoriah @nickoliveracing — SKY Racing (@SkyRacingAU) May 11, 2025 • 'He got held up from probably the 400m basically all the way round there to halfway up the straight,'' Ponsonby said. 'Winona said he hit the line really well. 'He's obviously drawn the carpark on Monday but he comes in probably, I'd say at this stage, to barrier 12 or 13. 'John (jockey John Kissick) has had good luck on the horse in the past and hopefully he can weave a bit if magic and get him into the right spot there on Monday 'The horse is getting to mature now and he is settling a lot better so hopefully as he gets up to 2000m in the end, he'll have the manners but still have the speed of a seven furlong/miler horse so that should benefit him later on his career.' Drunken Sailor will have company on the 700km trek from Hawkesbury to Corowa in the shape of Statesville who lines-up in the Campbell's Wines Benchmark 58 Handicap over 1400m. The Aquis Farm-bred son of Written Tycoon has been underwhelming in his four starts this campaign but against considerably stiffer opposition to what he meets on Monday. 'He is probably better suited in a 58 than he has been in any of the previous races, it has just taken a hell of a long time to get his Benchmark down,'' Ponsonby explained. 'They've kept him at a reasonably high country benchmark for it seems like forever. 'So hopefully ridden quietly, we can see a bit better performance but it's been a real shame because I really used to think he was going to make a handy horse but he just didn't progress as far as I would have liked.' Ponsonby will be about as far away from Sydney as it gets to the start the week but he'll be back in town in more ways than one this weekend with the stable captain, the aforementioned Philipsburg. 'He is off to a 2400m at Randwick next Saturday and then depending on how he goes, he might have a little freshen up after that or he could head onto a Group 3 in Brisbane (Premier's Cup) the following weekend,'' Ponsonby said. 'The Burg' will be ridden on Saturday by Costin who has steered the son of Per Incanto to six of his 10 wins including those back-to-back wins at Doomben and Eagle Farm last month. â– â– â– â– â– Spring ambitions for Minervini's Gem Exciting two-year-old Gemologist claimed the scalp of a million-dollar baby on debut and will on Monday be tasked with 'beating the older horses' when he travels to Port Macquarie. The Mark Minervini -trained son of Caulfield Sprint and San Domenico Stakes winner Graff announced himself with a comfortable win in the coveted Star Kingdom held each year at Muswellbrook in May. The 2025 edition attracted a stellar line-up including the Waterhouse/Bott -trained Jet who was knocked down for $1 million at the Gold Coast in 2024. 'Gemologist is a very nice horse and I think he beat a very nice horse,'' Minervini said. 'He's done well since that win. 'He is actually owned in Port Macquarie, the owners weren't at Muswellbrook the other week but they'll be there on Monday. 'I am not too sure if he will have too many more runs this prep. We might put him away and get him ready for the spring. 'He is a couple of months away from being a three-year-old but if he could go there and beat the older horses, I think it is a feather in his cap for sure.' Gemologist gets away from them late and wins at Muswellbrook! ðŸ'Ž @Aaronbullock90 — SKY Racing (@SkyRacingAU) May 2, 2025 Minervini meanwhile is fast closing on 500 wins; his first coming at Strathalbyn late in 1995. The former master of Morphettville was pleased to welcome another former South Australian to his Newcastle stables in 2025, namely Bella Kathleen who is on her way to Port Macquarie on Monday. A daughter of Melbourne Cup -winner Fiorente, Bella Kathleen broke her maiden status at Gawler on debut back in the winter of 2023. Her next win came on April 12 this year at what was her first run for Minervini in a Newcastle Class 1. Bella Kathleen was runner-up at her subsequent outing in the hotly-contested Godolphin Tiara. 'I wasn't disappointed in her run but I was disappointed she didn't win it at Muswellbrook but the mare that beat her, Gentileschi, got beaten in a photo on Saturday at Scone so the form there is pretty solid,'' Minervini says. Minervini's Monday kicks off in the opener with the well-bred Pratt having his first run for the barn having previously been handled by Chris Waller. 'We have tried to place him to win,'' Minervini says. 'I am really happy with him. I think he is a horse that has got a fair bit of ability.'
The Sun
15-05-2025
- Lifestyle
- The Sun
The £5 Home Bargains buy that can turn your patio into an expensive ‘outdoor living room' in an instant
IF you're preparing your patio ahead of the summer, a simple addition can instantly level up your space. According to decor experts, you can turn your outdoor area into a living room with one quick touch. Whether you're planning on hosting friends for barbecues or are simply planning to lounge in the sun, this budget buy makes your patio furniture more cosy and inviting. You can add instant comfort to your set up with some outdoor cushions. And you can now pick up The Outdoor Edit Travellers Bazaar Cushion for just £4.99 from Home Bargains. The stylish buy is available in bird pattern, a tropical pattern, or a pink pattern. According to manufacturers, the "vibrant" cushion helps to add a "splash of summer" to your garden. They described the decor item as "perfect for lounging in the sun and brightening up your garden furniture". The tropical design adds a dash of colour to your space, brightening your outdoor furniture. And as well as making your time lounging in the sun more comfortable, these cushions can also level up your patio set up. David Harris, design director at Andrew Martin, spoke to Women & Home about the advantages to outdoor cushions. "We shouldn't have to compromise when using fabrics outside," he explained. Gardening pro reveals savvy £12 hack that can transform your patio - it works like magic and will make sure it's always kept tidy "Long gone are the days of slippery nylon cushions and covers. "Now there is a whole host of luxurious and well-designed fabrics that can be used." This addition helps to make your garden feel luxurious, creating an outdoor living room vibe. As well as cushions, throws and outdoor rugs are also great ways to invite colour and pattern to your garden. A £3 garden decoration from Aldi that turns your outdoor space into a "lush oasis". And the Aldi outdoor patio furniture, including a rattan effect corner sofa. A Home Bargains buy adds a touch of glamour to your garden for less than £20. And you can pick up a budget-friendly gadget from the shop that attracts birds to your garden.
Business Wire
14-05-2025
- Business
- Business Wire
Rajant Launches LTE Enhance to Integrate Mesh and LTE Networks with a Single Add-on Device
MALVERN, Pa.--(BUSINESS WIRE)-- Rajant Corporation, the pioneer of Kinetic Mesh® wireless networks, has launched LTE Enhance, a new industrial-grade device that integrates Rajant Mesh with LTE into a single edge-compute-enabled network. Designed for real-time automation and remote operations, LTE Enhance empowers organizations to seamlessly integrate private LTE and certain public LTE carriers with Rajant's Kinetic Mesh networks, creating a high-capacity, adaptive network that ensures applications remain online, even in the most challenging industrial environments. LTE Enhance will allow networks to quickly adapt to changing geographies and topologies by using the self-healing nature of Rajant Kinetic Mesh and enabling LTE towers to act as added-capacity backhaul nodes. 'With Rajant's LTE Enhance, we're providing a solution that creates more autonomy for customers, allowing them to increase operational efficiency and productivity,' said Andrew Martin, Director of Product Management at Rajant. 'By unifying private LTE with Rajant's dynamic Kinetic Mesh networks with a single device, LTE Enhance enables seamless communication between networks, creating new possibilities for bandwidth expansion, traffic optimization, and intelligent route management across diverse deployment scenarios.' LTE Enhance not only simplifies network architecture but also enables smarter, more responsive communication strategies. Edge computing and intelligent link management prioritize data flow based on real-time network conditions to reduce latency and support bandwidth-heavy applications without compromising performance. 'Rajant's Kinetic Mesh network is critical to help keep operations running,' said Jeff Berg, Chief Executive Officer of Acubis. 'By integrating with Private LTE Network, we expand that capability without added complexity. It's a smart, scalable way to build on the network that's already delivering value for the business.' Offering up to 150 mbps of upload speed as physical layer data rates to the LTE network, Rajant's LTE Enhance supports high-demand use cases such as video surveillance, autonomous vehicles, and IoT. The device's design is also suitable for harsh environments like mining, energy, and transportation, and allows for flexible deployment on vehicles, equipment, or fixed infrastructure. LTE Enhance ensures continuous connectivity even in remote areas or during network outages to help industries stay operational, no matter the terrain. The launch of LTE Enhance reinforces Rajant's commitment to delivering as a trusted solution provider, empowering clients with the seamless connectivity and agility needed to meet today's most demanding operational challenges. About Rajant Corporation Rajant Corporation is the intelligent edge network technology company that invented Kinetic Mesh® networking, BreadCrumb® wireless nodes, and InstaMesh® networking software. With Rajant, customers can rapidly deploy highly adaptable and scalable edge network solutions that leverage the power of real-time data to deliver on-demand, mission-critical business intelligence. With successful deployments in more than 80 countries for customers in military, mining, ports, rail, energy, manufacturing and logistics, municipalities, agriculture, and more, Rajant is headquartered in Malvern, Pennsylvania, with additional facilities and offices in Arizona and Kentucky. For more information, visit or follow Rajant on LinkedIn and Twitter.
