HSBC among banks accused of manipulating price of silver July 27, 2014 HSBC, Deutsche Bank and the Bank of Nova Scotia have been accused of rigging the price of silver. According to J Scott Nicholson, an investor who filed a lawsuit against them in the US, the banks abused their position of controlling the daily silver benchmark by unlawfully manipulating it to reap illegitimate rewards from [...]
Stage fighting with the RSC: Theatrical combat is more about cooperation than violence December 17, 2014 In the run up to an evening’s performance it’s traditional for thesps to wish each other luck by saying “break a leg”. No one wants this to happen for real, but in any production in which there’s fighting, there’ll be a person dedicated to making sure it looks like it does. Terry King is one [...]
AIG pays $960m to settle legal battle with angry shareholders August 4, 2014 INSURANCE giant AIG last night announced it will pay shareholders $960m (£569m) to settle the lawsuit they launched in the wake of the firm’s collapse in the financial crisis. The group, led by the state of Michigan’s pension fund, had argued the insurer misled the market over its financial health in the run up to [...]
Poland wants to take Russia to court over food ban August 20, 2014 In the wake of Russia's ban on some European food products, Poland has asked the European Commission to complain to the World Trade Organisation (WTO). Poland sent the request to European Trade Commissioner Karel De Grucht, who represents the EU in WTO cases. Marek Sawicki, Poland's agriculture minister has said that preliminary consultations are underway, and [...]
Lloyds accused of withholding information during HBOS takeover August 6, 2014 Investors have filed a lawsuit against Lloyds Banking Group, which they say withheld important information during its takeover of HSBC in 2008. The claimants, who own a 25 per cent stake in the bank, allege that the true financial health of HBOS was hidden from them during the government-backed takeover at the height of [...]
RBS steps up the search for a new chairman August 29, 2014 Royal Bank of Scotland has reportedly stepped up its search for a successor to chairman Sir Philip Hampton, hiring recruitment giant Egon Zehnder International to lead the hunt. Hampton will step down in 2015 after more than six years at the top of the bank, which is still 81 per cent owned by the government, [...]
Musician Kaskade calls former record label “dinosaur” for suing YouTube star Michelle Phan July 22, 2014 The Grammy-nominated musician Kaskade has called his former record label a “dinosaur” for filing a lawsuit against YouTube star Michelle Phan which claims she infringed copyright by using his songs in her videos. Sony-backed Ultra Records, the label of artists Deadmau5 and Calvin Harris, has filed documents in a California court with its associated publisher [...]
Call of Duty maker Activision sued by former dictator of Panama July 16, 2014 The former leader of Panama Manuel Noriega is suing video game maker Activision over a character featured in the game Call of Duty: Black Ops II. The dictator, who is currently serving a 20 year prison sentence, is claiming for loss of profits and damages over a character in the 2012 game based upon him, [...]
RBS pays $99.5m to settle claims June 19, 2014 The Royal Bank of Scotland agreed yesterday to pay $99.5m (£58.7m) to resolve claims against the bank over Freddie Mac’s purchase between 2005 and 2007 of mortgage-backed securities that went sour. The US Federal Housing Finance Agency said it had now reached 15 settlements, totalling about $16.1bn, stemming from lawsuits it filed in 2011 to [...]
Nine banks hit with fresh Libor rigging lawsuit October 31, 2013 FANNIE Mae sued nine of the world’s largest banks yesterday, accusing them of colluding to manipulate interest rates and seeking more than $800m (£499m) in damages. In a complaint filed in the US District Court in Manhattan, the government-controlled mortgage company accused the banks of conspiring for years to suppress Libor, or the London Interbank [...]