November 2, 2011
A law firm which represented Rupert Murdoch’s London tabloids has turned over to the British parliament documents which could embarrass his son James when he returns to testify before a committee investigating a phone-hacking scandal. Parliamentary and company sources told Reuters that Farrer & Co, a London law firm which until recently represented Murdoch’s [...]
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August 31, 2011
The American International Group (AIG) building is seen in New York's financial district March 16, 2009. Top Bank of America Corp lawyers knew as early as January that American International Group Inc was prepared to sue the bank for more than $10 billion, seven months before the lawsuit was filed, according to sources familiar with [...]
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August 12, 2009
Pedestrians pass a Bank of America branch in New York. Bank of America, the largest US bank, has lately snapped up senior officials to join its investment bank. US banks, which have cut thousands of jobs during the two-year-old financial crisis, are suddenly racing to fill empty seats to make the most of soaring stock [...]
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August 1, 2009
Restrictions on financial industry bonuses heading to a vote in the US House may be rejected by the Senate and the Obama administration, which are reluctant to increase governmentâs role in deciding compensation. The House, emboldened by New York Attorney General Andrew Cuomoâs report Thursday that showed nine banks getting US aid paid US$32.6 billion [...]
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July 19, 2009
A man is reflected in an electronic stock board showing stock information at a securities exchange house in Shanghai, China. Chinaâs stock market may surpass the US as the worldâs largest by value in three years as state-owned companies sell new shares and the nationâs 1.4 billion people put more of their money into equities, [...]
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July 15, 2009
The US Justice Department is investigating the market for credit-default swaps, according to Markit Group Ltd., the data provider majority-owned by Wall Streetâs largest banks. âMarkit has been informed of an investigation by the Department of Justice into the credit-derivatives and related markets,â spokeswoman Teresa Chick said Monday in an e-mailed statement in response to [...]
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June 10, 2009
Philip Schiller, senior vice president of marketing at Apple Inc., talks about the new voice control function of the Apple iPhone 3G S (3GS) Apple Inc.âs developer conference Monday gave investors a new opportunity to see the company at work without Steve Jobs. The company unveiled a faster iPhone and cut prices on its MacBook [...]
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April 6, 2009
Citibank sign hangs outside a retail banking branch on the ground floor of the Citigroup Inc. headquarters in New York US banks that received billions of dollars of taxpayer money to bolster their capital could place bets on the same toxic assets that got them into trouble in the first place – and with government [...]
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February 24, 2009
The company logo of Citigroup is displayed outside Citibank Tower in Hong Kong Monday. The lender could be among the banks that are nationalized under a US government plan. The US, which says it doesn’t want to nationalize banks, may find itself taking a step in that direction if it converts the governmentâs preferred shares [...]
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February 20, 2009
A worker posts a temporary closure notice at Stanford Financial Group’s offices in Houston, Texas, US, on February 17, 2009. Stanford International Bank Ltd., accused by US regulators of defrauding investors, relied on more than high interest payments to sell US$8 billion of what it called certificates of deposit. The Antigua Bank, founded by Stanford [...]
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Banks could use money in begging bowl to buy toxic assets
Citibank sign hangs outside a retail banking branch on the ground floor of the Citigroup Inc. headquarters in New York US banks that received billions of dollars of taxpayer money to bolster their capital could place bets on the same toxic assets that got them into trouble in the first place – and with government [...]
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