Court battle for Deutsche in New York September 23, 2009 DEUTSCHE Bank and a banking unit of Saudi Arabia’s Algosaibi family battled in court yesterday over whether to throw out a $74.2m (£45.3m) claim by the German bank, part of a flurry of lawsuits involving billions of dollars and allegations of fraud. New York State Supreme Court Justice Bernard Fried said he expects to rule [...]
Bank of New York Mellon settles $22.5bn Russia case September 16, 2009 RUSSIA expects to get costs of at least $14m (£8.5m) in an out-of-court settlement of a $22.5bn lawsuit against Bank of New York Mellon, finance minister Alexei Kudrin said yesterday. The deal should bring to an end Russia’s more than two-year quest for compensation from the bank over alleged laundering of $7bn from Russia in [...]
Bank of New York Mellon settles $22.5bn Russia case September 16, 2009 RUSSIA expects to get costs of at least $14m (£8.5m) in an out-of-court settlement of a $22.5bn lawsuit against Bank of New York Mellon, finance minister Alexei Kudrin said yesterday. The deal should bring to an end Russia’s more than two-year quest for compensation from the bank over alleged laundering of $7bn from Russia in [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 13, 2009 THE SUNDAYSThe Sunday TelegraphT-MOBILE OWNER EYES BID FOR SPRINTDeutsche Telekom has called in banking advisers to study a possible multi-billion dollar bid for Sprint Nextel, the third-largest mobile phone operator in the US. The company’s decision to call in Deutsche Bank comes hot on the heels of the agreed tie-up of its struggling T-Mobile UK [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 13, 2009 THE SUNDAYSThe Sunday TelegraphT-MOBILE OWNER EYES BID FOR SPRINTDeutsche Telekom has called in banking advisers to study a possible multi-billion dollar bid for Sprint Nextel, the third-largest mobile phone operator in the US. The company’s decision to call in Deutsche Bank comes hot on the heels of the agreed tie-up of its struggling T-Mobile UK [...]
BoA judge refuses settlement August 10, 2009 A federal judge yesterday refused to approve a proposed settlement between the US Securities and Exchange Commission (SEC) and Bank of America over the payment of bonuses to Merrill Lynch employees, saying he was unable to determine if it was fair to the public. The bank had agreed last week to pay $33m to resolve [...]
AIG faces Madoff action August 19, 2009 BATTERED insurer AIG has been hit with a class action lawsuit in connection with Bernard Madoff’s $60bn (£36bn) Ponzi fraud. A wealthy couple who lost out in the scandal are accusing AIG of “calculated efforts” to redefine the terms of insurance contracts to get out of coughing up to cover their losses. The couple, Robert [...]
Tullett set to square up to BGC in court October 11, 2009 TULLETT Prebon and BGC Partners will this week commence battle in the High Court, as the City hangs attentively on every word to glean sensational details about the aggressive high-octane world of inter-dealer broking. Tullett, led by City veteran Terry Smith, alleges that BGC tried to poach at least 55 of its top broking staff [...]
Tullett set to square up to BGC in court October 11, 2009 TULLETT Prebon and BGC Partners will this week commence battle in the High Court, as the City hangs attentively on every word to glean sensational details about the aggressive high-octane world of inter-dealer broking. Tullett, led by City veteran Terry Smith, alleges that BGC tried to poach at least 55 of its top broking staff [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 3, 2009 FINANCIAL TIMES INTEL SEES WINDOWS OF OPPORTUNITYAn ageing line-up of PCs and the arrival of Windows 7 will cause companies to start spending again on computers next year, according to the head of the world’s largest chipmaker. The comments by Paul Otellini, chief executive of Intel, underscore growing optimism in the technology industry that next year will see a return [...]