WHAT THE OTHER PAPERS SAY THIS MORNING September 18, 2011 FINANCIAL TIMES FEARS OVER RETREAT ON VOLCKER BANK RULES The Volcker rule, which bans US banks from trading for their own account, is set to include exemptions that some officials fear will weaken its impact, people familiar with the situation have warned. In the wake of UBS’s $2.3bn (£1.4bn) loss last week, alleged to have [...]
Twins concede in Facebook legal action June 23, 2011 FACEBOOK yesterday tied up another loose end ahead of its expected $100bn initial public offering, with the Winklevoss twins ending their long-running legal dispute. The Olympic rowers – known as the “Winklevii” – have decided not to appeal to the Supreme Court a ruling upholding their $65m (£40m) settlement. The cash-and-stock agreement was intended to end [...]
Halo effect: Sage of Omah invests $5bn in buffeted Bank of America August 25, 2011 BILLIONAIRE investor Warren Buffett rode to the rescue of America’s biggest lender yesterday with a $5bn (£3bn) investment in the beleaguered Bank of America Merrill Lynch (BofA). Buffett’s investment provides a much-needed vote of confidence in BofA, which has seen its share price halve this year as it has fought to convince investors it had [...]
Case against DSK looks set to be dropped August 21, 2011 THE prosecutors in the case of former IMF chief Dominique Strauss-Kahn (pictured) will meet with the hotel maid accusing him of sexual assault today, in a sign the case may be headed for dismissal. Douglas Wigdor, a lawyer for the maid, Nafissatou Diallo, said the Manhattan district attorney’s office requested in a letter that Diallo [...]
Case against DSK looks set to be dropped August 21, 2011 THE prosecutors in the case of former IMF chief Dominique Strauss-Kahn (pictured) will meet with the hotel maid accusing him of sexual assault today, in a sign the case may be headed for dismissal. Douglas Wigdor, a lawyer for the maid, Nafissatou Diallo, said the Manhattan district attorney’s office requested in a letter that Diallo [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 12, 2011 FINANCIAL TIMES UNICREDIT CHIEF SIGNALS RIGHTS ISSUE TO INCREASE CAPITAL LEVELS UniCredit has given its clearest signal yet that it will seek to raise its capital buffers as market turmoil continues to hit European bank shares. In his first big interview since becoming chief a year ago Federico Ghizzoni told the Financial Times that details [...]
Bank of America to pay $20bn in charges June 29, 2011 Bank of America Corp said it expected to take more than $20bn (£12bn) in charges after settling with mortgage bond investors, resulting in a second-quarter loss. The $8.5 billion settlement removed a question mark that had been hovering over the bank since October, and its shares rallied. The deal, combined with other settlement-related charges, was [...]
Bank of America to pay $20bn in charges June 29, 2011 Bank of America Corp said it expected to take more than $20bn (£12bn) in charges after settling with mortgage bond investors, resulting in a second-quarter loss. The $8.5 billion settlement removed a question mark that had been hovering over the bank since October, and its shares rallied. The deal, combined with other settlement-related charges, was [...]
Toyota loses lawsuit challenge November 22, 2010 Carmaker Toyota suffered a fresh blow in its class action lawsuit at the weekend, after a judge in the US said customers stand to recover compensation for the lost resale value of their cars, regardless of whether their car had suffered the notorious break fault. Toyota’s lawyers had challenged the ruling, arguing the case could [...]
Passengers flock to Heathrow July 11, 2011 HEATHROW enjoyed its third consecutive month of record passenger numbers in June – but freight volumes were hit by the fragile economic recovery. Airport operator BAA said 6.1m passengers travelled through Heathrow in June, a 6.3 per cent increase on the same month last year. The figures represented the highest number of passengers for the [...]