Florida judge grants $10.5 million bail for ex-UBS banker
FORT LAUDERDALE, Florida (Reuters) – Raoul Weil, a former high-ranking UBS banker charged with tax fraud by U.S. authorities, was ordered freed on bail of $10.5 million on Monday in federal court in Fort Lauderdale.
Fonterra challenged in China’s fast-growing milk powder market
SHANGHAI/WELLINGTON (Reuters) – Milk powder buyers in China are starting to cut their reliance on New Zealand’s Fonterra , opening the way for U.S. and European firms to break the dairy giant’s grip on an infant milk formula market set to double to $25…
NZ regulator to prosecute banks over swaps sales to farmers
WELLINGTON (Reuters) – Three of New Zealand’s major banks are being taken to court for allegedly misrepresenting interest rate swaps sold to farmers eight years ago, the country’s consumer watchdog said on Tuesday.
Greece expects Eurogroup to approve next aid tranche: officials
ATHENS (Reuters) – Greece expects euro zone finance ministers to approve the latest tranche of its multibillion bailout when they meet on Tuesday, Finance Ministry officials said, as foreign lenders wrapped up the latest round of negotiations.
AIG sells aircraft leasing wing to focus on insurance
(Reuters) – Insurer American International Group Inc said on Monday it will sell its aircraft-leasing business to AerCap Holdings NV for $5.4 billion, after four years of trying to divest its biggest non-insurance business in fits and starts.
‘Doom loop’ tying European banks and governments reinforced
LONDON (Reuters) – European banks have filled their balance sheets with national debt since 2011, bringing them easy profits but reinforcing a “doom loop” linking weak banks to governments with shaky finances.
Blackrock says has 9.97 percent of Telecom Italia, not 10.14 percent
MILAN (Reuters) – Blackrock said on Monday it held 9.97 percent of Telecom Italia as of November 29 and not 10.14 percent as it had previously stated in a filing to the Securities and Exchange Commission (SEC).
Bernanke says Fed legitimacy depends on public communication
(Reuters) – The Federal Reserve must clearly explain its decisions to Americans and convince them that the policies are in their interest, Chairman Ben Bernanke said on Monday without specifically discussing monetary policy or the U.S. economy.
ECB says EU bank resolution plans may be too complex, poorly funded
BRUSSELS (Reuters) – Europe’s latest plans for winding down failing banks may be too complex and inadequately funded, the head of the European Central Bank said on Monday, as euro zone officials race to reach a deal on the thorny issue this week.
U.S. clearing firm to pay $1 million for anti-money laundering violations
(Reuters) – An Omaha-based securities clearing firm must pay a $1 million civil fine for not complying with securities industry requirements to prevent money laundering and other “extensive” failures, Wall Street’s industry-funded watchdog said on Mond…
