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Lloyds Sued by 220 Investors Over HBOS Takeover ‘Folly’
August 7th, 2014
Lloyds Banking Group Plc (LLOY) was sued by 220 investors who said they were misled into supporting a 2008 takeover of HBOS Plc that prompted a 20 billion-pound ($34 billion) bailout from the U.K. government. Britain’s biggest mortgage lender ...
ICAP and MTS Add Repo Index for Eurozone Traders
August 7th, 2014
European traders who execute in the repurchase agreement and sovereign bond markets can now do so using a new repo rate index. Following publication of ISDA definitions, ICAP Information Services and MTS today announced they are expanding the RepoFunds ...
T-Mobile deal collapse could spark telecom price war
August 7th, 2014
Sprint Corp’s (S.N) newly appointed Chief Executive Marcelo Claure has so far had a Midas touch in the telecoms industry, turning Brightstar, a reseller of U.S. handsets to Latin America, into a distributor valued at $2.2 billion when it ...
Banks Must Show They Can Die Quietly
August 6th, 2014
The U.S. Federal Reserve and the Federal Deposit Insurance Corp. have just confirmed what most people already knew: The largest banks are far too complex and opaque for their own good, let alone for the good of the broader ...
U.S. Stocks Drop on Ukraine as Sprint, Time Warner Slump
August 6th, 2014
U.S. stocks fell, after equities slipped to a two-month low yesterday, on concern the Ukraine crisis will escalate and as Sprint Corp. and Time Warner Inc. (TWX) tumbled on merger news. Sprint slid 18 percent after a person with ...
Seychelles Able To Avoid More Tax Measures
August 6th, 2014
The Seychelles Government has announced temporary financial measures, which will lead to higher interest rates and reduced lending, but which, it was said, will not be joined by any changes to taxation. Finance, Trade, and Investment Minister Pierre Laporte ...
Xiaomi just took over China – is the U.S. next?
August 6th, 2014
In four short years, Chinese smartphone maker Xiaomi went from non-existence to No. 1 in China. Could the same happen in the United States? Possibly — but not anytime soon. Xiaomi captured 14% of the Chinese market in the ...
Fox withdraws $71bn bid for Time Warner
August 6th, 2014
Rupert Murdoch’s 21st Century Fox has abandoned a $71bn offer for Time Warner. The news brought an early end to what promised to be a lengthy battle between two of the industry’s biggest names. Most analysts had expected Rupert ...
Goldman, Deutsche Bank Said Near Deal for National Bank of Greece Buyout Firm
August 6th, 2014
The private-equity units of Goldman Sachs and Deutsche Bank are nearing an agreement to purchase the buyout arm of National Bank of Greece SA. Goldman Sachs Asset Management and DB Private Equity are in talks to pay Greece’s largest ...
Big Banks’ ‘Living Wills’ Get Failing Grade
August 6th, 2014
Wall Street banks spent two years asking U.S. regulators what they should put in hypothetical bankruptcy plans to prove they aren’t “too big to fail.” The agencies broke their silence yesterday with a grade: Fail. The Federal Reserve and ...
