Improving living standards are creating new investment opportunities in meat, milk and fish products. Simon Smiles, CIO of Ultra High Net Worth at UBS, explains why.» Read More
David Heiman, whose law firm Jones Day represents Detroit, told Rhodes that Syncora and the city "have laid down their swords." In a court filing on Monday, Syncora confirmed a "comprehensive settlement" with the city that was still subject to "definitive documentation and resolution of other terms.
Sept 15- RadioShack Corp's chief financial officer resigned, citing personal reasons, amid reports that the cash-strapped electronics retailer was negotiating a financial package to help it avoid bankruptcy. Shares of RadioShack, which last week warned it may seek bankruptcy protection, rose as much as 23 percent on Monday.
Syncora, which pegs its claim at about $400 million, worked out a three-part deal involving city-owned land and contracts.
Sept 12- RadioShack Corp is evaluating a $585 million financing package led by UBS AG and hedge fund Standard General LP as the U.S. electronics retailer tries to avert bankruptcy, the Wall Street Journal reported, citing people familiar with the matter.
WASHINGTON, Sept 12- Wall Street executives may have personally escaped the wrath of the U.S. Department of Justice but executives at companies accused of foreign bribery schemes may not be so lucky.
DETROIT, Sept 11- A federal judge on Thursday ordered ongoing mediation in Detroit's historic bankruptcy over a potential settlement between the city and one of its fiercest creditors, while adding holdout creditor Financial Guaranty Insurance Co to the list of parties whose attendance is required.
Sept 10- Troubled electronics retailer RadioShack Corp, whose shares swung wildly on Wednesday, is being advised by a restructuring attorney at law firm Jones Day as it tries to strike a deal with creditors to close stores while averting bankruptcy, two people close to the matter told Reuters.
Syncora had argued it had been short-changed compared to other creditors. If approved, the deal will see Syncora drop its objection to the restructuring and the trial- which is studying the feasibility of Detroit's plan to exit bankruptcy- could get a swift approval from U.S.
DETROIT, Sept 10- A federal judge on Wednesday put the landmark trial on Detroit's plan to exit bankruptcy on hold until Monday, as the city neared a deal with one of its most formidable hold-out creditors. Syncora, which emerged as Detroit's fiercest opponent in the bankruptcy proceedings, forged a deal that its attorney, Ryan Bennett at Kirkland& Ellis, told U.S.
Sept 7- When Chinese e-commerce giant Alibaba Group Holding revealed plans earlier this year to go public on a U.S. stock exchange, financial advisers like Bob Mecca in Hoffman Estate, Illinois braced themselves for a wave of frantic calls from retail investors wanting to get in on the action.
The defendants include Bank of America Corp, Barclays Plc, BNP Paribas SA, Citigroup Inc, Credit Suisse Group AG, Deutsche Bank AG, Goldman Sachs Group Inc, HSBC Holdings Plc, JPMorgan Chase& Co, Nomura Holdings Inc., Royal Bank of Scotland Group Plc, UBS AG and Wells Fargo& Co..
NEW YORK, Sept 4- A Manhattan federal judge said on Thursday that investors may pursue a lawsuit accusing 12 major banks of violating antitrust law by fixing prices and restraining competition in the roughly $21 trillion market for credit default swaps.
NEW YORK, Sept 4- A Manhattan federal judge on Thursday narrowed but refused to dismiss a lawsuit accusing 12 major banks of fixing prices and restraining competition in the multitrillion-dollar market for credit default swaps, violating U.S. antitrust law.
NEW YORK, Aug 28- A U.S. regulator can proceed with lawsuits accusing HSBC Holdings Plc and Nomura Holdings Inc of misleading Fannie Mae and Freddie Mac into buying mortgage-backed securities that later turned toxic, a federal judge ruled on Thursday.
Falling solar system and battery prices combined with electric vehicles' rise may soon send internal combustion engines to the junk yard, analysts say.
NEW YORK/ LONDON, Aug 20 (Reuters)- A $300 million fine on Standard Chartered for lapses in anti-money laundering controls has piled pressure on the bank's board, coming after a series of transgressions and a drop in earnings that had already prompted calls for change at the top.
NEW YORK, Aug 19- A Florida man on Tuesday pleaded guilty in New York to criminal charges for concealing as much $1.1 million in offshore accounts, even after learning that U.S. authorities were cracking down on wealthy Americans evading taxes. District Judge Alvin Hellerstein, who accepted Kramer's plea in Manhattan federal court.
NEW YORK, Aug 19- British banking company Standard Chartered Plc will pay a $300 million penalty and suspend or exit some important businesses after failing to weed out risky transactions that could be linked to money laundering.
SAO PAULO, Aug 18- T4U Holding Brasil SA, the country's No. 5 mobile phone tower operator, plans to sell shares in an initial public offering as soaring demand for high-speed Internet spurs the construction of thousands of towers in Latin America's largest country.
Talking Squawk, the official "Squawk Box" blog, provides tidbits, insights, and some sarcastic reflections on the WEEK THAT WAS and the WEEK TO COME.