Search Results for: law
Chinese banks get serious – risk of bad debts swell
August 8th, 2014
Chinese banks are scrambling to get on top of bad debts they have downplayed for years, cutting off riskier borrowers and further tightening lending terms. China’s banks keep reporting bad loan levels well below what most analysts consider realistic, ...
Arab Bank Plc in trial in the U.S. for financing Hamas
August 8th, 2014
Arab Bank Plc ARBK.AM faces accusations that it provided material support to the Palestinian group Hamas. The bank will go under trial next week in New York making it the first financing case in the United States. The Jordan-based ...
Oil Falls After Strong Global Supplies
August 7th, 2014
Brent crude traded near its lowest closing level in nine months on speculation that supplies remain sufficient to meet demand. West Texas Intermediate was near a six-month low. Futures were little changed in London. In Iraq, Kurdish exports remain ...
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 ...
Wylys Call SEC $750 Million Trial Demand a Miscalculation
August 7th, 2014
The lawyer for Samuel Wyly and the estate of Charles Wyly told a judge they shouldn’t have to pay regulators as much as $750 million after being found liable for using a web of offshore trusts to hide stock ...
Spain Unveils ‘Google Tax’
August 7th, 2014
Spain’s Congress of Deputies has approved a law, which will pave the way for a levy on news aggregation websites. Dubbed the “Google Tax,” the levy would allow news publishers to charge “electronic news aggregation systems,” such as the ...
Bank of America, U.S. near record $17B settlement
August 7th, 2014
The Department of Justice and Bank of America have reached a record settlement in principle in which the bank will pay just under $17 billion to resolve allegations related to fraudulent marketing of mortgage-backed securities that helped cause the ...
Judge Rakoff Says 2011 S.E.C. Deal With Citigroup Can Close
August 6th, 2014
The settlement that just wouldn’t settle — Citigroup’s 2011 deal with the Securities and Exchange Commission — has finally cleared its last hurdle. Judge Jed S. Rakoff of Federal District Court in Manhattan, who initially rejected the $285 million ...
New York is back on top for IPOs
August 6th, 2014
New York is once again the top destination for global companies listing their stocks, according to a new report on “cross-border” IPOs. It’s the first time New York has topped Hong Kong since 2009. Companies that are based overseas ...
China Anti-Trust Regulator Conducts New Raids on Microsoft and Accenture
August 6th, 2014
A Chinese anti-trust regulator conducted new raids on Microsoft Corp and partner in China Accenture PLC, the agency said on its website on Wednesday, after saying last week Microsoft is under investigation for anti-trust violations. The State Administration for ...
