Rajaratnam acquittal shows indirect insider trading case challenge
NEW YORK (Reuters) – The acquittal on Tuesday of the younger brother of convicted hedge fund titan Raj Rajaratnam suggests prosecutors will have a tougher time pursuing people accused of trading on inside information they received indirectly.
British banks paying $2 billion for swaps mis-selling: regulator
LONDON (Reuters) – Britain’s banks are in the process of paying out 1.2 billion pounds ($2 billion) to compensate small businesses that were mis-sold complex interest rate hedging products, data from the UK financial watchdog showed on Friday.
Obama, corporate giants announce plan to boost suppliers
WASHINGTON (Reuters) – President Barack Obama is enlisting several major U.S. and multinational companies to draw attention to an initiative aimed at helping small businesses expand and hire workers.
UK banks paying $2 billion for swaps mis-selling: regulator
LONDON (Reuters) – Britain’s banks are in the process of paying out 1.2 billion pounds ($2 billion) to compensate small businesses who were mis-sold complex interest rate hedging products, data from the UK financial regulator showed on Friday.
Macau graft agency probes Wynn land deal
HONG KONG (Reuters) – Macau’s corruption agency said on Friday it is examining a land deal relating to Las Vegas mogul Steve Wynn’s upcoming $4 billion casino in the world’s biggest gambling hub.
European markets settle after Portugal-led rout
LONDON (Reuters) – European stocks opened firmer and lower-rated government bond prices edged up on Friday, as markets settled after a broad pullback overnight on concerns about Portugal’s banking sector that highlighted contagion risk in the euro zone…
Portugal’s BES insists family losses will not put bank at risk
LISBON/LONDON (Reuters) – Losses on loans to the troubled business empire of its founding family will not put Banco Espirito Santo at risk of running short of capital, the bank said on Thursday night.
Japan economics minister warns of premature QE exit, sees room for more easing
TOKYO (Reuters) – Japanese Economics Minister Akira Amari warned that it would be premature for the Bank of Japan to consider an exit strategy from its massive stimulus program, voicing hope instead for further monetary easing if achievement of its inf…
Argentina to send technocrats to debt talks
BUENOS AIRES (Reuters) – Argentina said a team of technocrats, and not its economy minister, would attend a meeting in New York with a court-appointed mediator on Friday, as it seeks to resolve a dispute with holdout investors over its sovereign debt.
China looking into Bank of China money laundering allegations: Xinhua
SHANGHAI (Reuters) – China’s central bank is looking into allegations by a state broadcaster that Bank of China, the country’s fourth largest lender, has been laundering money offshore for clients, the official Xinhua news agency said on Friday.
