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  • Citibank in Argentina to stop making bond payments Tuesday, 17 Mar 2015 | 1:57 PM ET

    BUENOS AIRES, Argentina— Citibank said Tuesday it was getting out of the business of making bond payments for Argentina, the latest fallout from a bitter court fight between the South American country and a group of bondholders in the U.S. A day later, Argentina threatened to revoke the bank's operating license if it refused to process those payments.

  • NEW YORK, March 17- Citigroup Inc said on Tuesday it plans to exit its custodial business in Argentina as soon as possible, after a U.S. judge refused to lift an injunction that blocked the bank from processing interest payments on $2.3 billion of Argentina bonds. In a defeat for the bank, clients and Argentina itself, Citigroup said it made its decision in light of...

  • UPDATE 1-Citigroup to exit Argentina custody business Tuesday, 17 Mar 2015 | 9:42 AM ET

    NEW YORK, March 17- Citigroup Inc said on Tuesday it plans to exit its custodial business in Argentina as soon as possible, after a U.S. judge refused to lift an injunction that blocked the bank from processing interest payments on $2.3 billion of Argentina bonds. District Judge Thomas Griesa in Manhattan, Citigroup said it made its decision in light of his March 12...

  • SHARM EL-SHEIKH, March 14- One of Egypt's leading businessmen said on Saturday the country needs to fire inefficient civil servants to attract investment and strengthen the economy. Foreign investors have criticised bureaucracy and a bloated civil service of about seven million in Egypt, the most populous Arab country. "Changing the mindset of all the...

  • NEW YORK, March 13- U.S. authorities investigating potential manipulation of Herbalife Ltd's shares by consultants working for billionaire investor William Ackman will find it difficult to prove that false statements were deliberately made to drive down the company's value, securities lawyers said. Attorney Preet Bharara have been examining whether the...

  • March 13- Billionaire investor Bill Ackman said some people hired by a consulting group working for his hedge fund had received subpoenas from federal agencies investigating possible manipulation of Herbalife Ltd's stock. Herbalife's shares rose more than 15 percent after the Wall Street Journal reported late on Thursday that federal prosecutors and...

  • The investor, who is short on Herbalife's shares, said he could not be certain if these people had made false statements to regulators about the company's business model. Ackman has been betting against Herbalife's shares since 2012, claiming the company is a pyramid scheme- where new investors unwittingly fund the profits of older investors.

  • March 13- Billionaire investor William Ackman said he had not been contacted by federal agencies investigating possible manipulation of Herbalife Inc's stock. Federal prosecutors and the Federal Bureau of Investigation have interviewed people hired by Ackman for an investigation on whether they made false statements about Herbalife's business model...

  • NEW YORK, March 12- A federal judge on Thursday said Citigroup Inc cannot process interest payments by Argentina on some bonds issued under that country's law, a defeat for the cash-strapped nation as it attempts to re-enter international debt markets. District Judge Thomas Griesa in Manhattan said letting Citigroup process the payments on so-called...

  • In an interview, Vazquez Aldir acknowledged the threat posed to free-to-air TV by new technologies including Netflix, and said the company might at some point follow in the footsteps of Televisa, by looking to move into the more lucrative telecoms market. Vazquez Aldir said he had not spoken with Slim or any other telecom companies. Grupo Imagen expects to...

  • NEW YORK, March 12- A federal judge on Thursday said Citigroup Inc cannot process interest payments by Argentina on some bonds issued under that country's law, a defeat for the cash-strapped nation as it tries to reenter international debt markets. District Judge Thomas Griesa in Manhattan said letting Citigroup process the payments on so-called...

  • NEW YORK, March 12- A federal judge on Thursday said Citigroup Inc cannot process interest payments by Argentina on some bonds issued under that country's law, a defeat for the cash-strapped nation as it tries to reenter international debt markets. District Judge Thomas Griesa in Manhattan said letting Citigroup process the payments on so-called...

  • LONDON, March 12- British retailer Philip Green said on Thursday his struggling department store chain BHS had been acquired by buyout firm Retail Acquisitions. Billionaire Green, whose family owns the Topshop-to-Dorothy Perkins Arcadia Group, gave no financial details about the deal, after saying in January that several groups had expressed interest in...

  • March 12- Ride-sharing service Lyft said it raised an additional $530 million in a funding round led by Japanese online retailer Rakuten Inc, giving the Uber rival a valuation of $2.5 billion and adding momentum to its expansion plans. Rakuten said it is investing $300 million for an 11.9 percent stake in San Francisco- based Lyft- its first investment in a...

  • March 11- Cloud storage provider Box Inc posted a bigger loss due to higher operating expenses, in its first quarterly report as a public company. Founded in 2005 by Levie, a University of Southern California dropout, and his friend Dylan Smith, Box competes with privately-held Dropbox, Google Inc's Drive and Microsoft Corp's OneDrive. Box, whose customers...

  • MIAMI, March 11- The former chief executive of Norwegian Cruise Line Holdings Ltd sued Richard Branson's Virgin Group in federal court in Miami for $300 million on Wednesday over plans by the British billionaire to launch his own luxury cruise line. Virgin Group announced the Bain Capital- backed cruise line project last December. As CEO of the new Virgin...

  • MOSCOW, March 11- Glencore is to take a 49 percent stake in Russian oil producer Russneft as a result of a restructuring, its owner said on Wednesday, despite fears that an escalating conflict between Moscow and the West over Ukraine could lead to wider sanctions against the Kremlin. The non-cash transaction will convert shares Glencore has held for the past...

  • LONDON, March 11- Ukrainian miner Ferrexpo said higher iron ore pellet premiums and lower production costs helped offset a steep fall in iron ore prices and limit the fall in its annual core profit to just 2 percent. Benchmark iron ore prices fell 28 percent last year due to a supply glut and Ferrexpo said it expects 2015 prices to be "materially below" last year's...

  • NEW DELHI, March 11- An Indian court summoned former Prime Minister Manmohan Singh on Wednesday over accusations of criminal conspiracy and corruption over the award of a coal field during his term, in a blow for the Gandhi dynasty that ruled India until last year. A special court under the Central Bureau of Investigation summoned the former prime minister...

  • NEW DELHI, March 11- Former Prime Minister Manmohan Singh was summoned on Wednesday by a court accused of criminal conspiracy in an inquiry into the award of coal fields during his term, in a blow for the Gandhi dynasty that ruled India until last year. Most coal block awards made by Singh's government, which ran India for a decade, were overturned by the Supreme...