‘You work for Lehman? I thought that went bust’
LONDON (Reuters) – From his 23rd floor office of Citi’s Canary Wharf tower, Tom Bolland can see the old European HQ of Lehman Brothers, where five years ago hundreds of his former colleagues were abruptly turfed out onto the street carrying their belon…
Hedge funds reap rewards from bet on Lehman Europe carcass
LONDON (Reuters) – Hedge funds which gambled on how much money would be recovered from the bankrupt carcass of Lehman Brothers are set to make hundreds of millions of pounds from a full payout to creditors of the European arm.
Canadian union and General Motors reach tentative deal
CHICAGO (Reuters) – The union representing Canada’s auto workers said on Saturday it has reached a tentative agreement with General Motors for production and skilled trades workers at its assembly plant in Ingersoll, Ontario.
SEC denies rejecting settlement over money fund that ‘broke the buck’
(Reuters) – The U.S. Securities and Exchange Commission denied Saturday that the commission had rejected a proposed settlement with managers of a large money market fund that “broke the buck” during the 2008 financial crisis, saying their negotiations …
Summers cancels Citi events, while Fed chief decision pending
CHICAGO (Reuters) – Former Treasury Secretary Lawrence Summers has pulled out of speaking engagements and other events involving Citigroup Inc while President Barack Obama considers whether to nominate the Harvard economist as the next chairman of the …
Obama to mark 5-year anniversary of U.S. financial crisis
WASHINGTON (Reuters) – President Barack Obama will mark the five-year anniversary of the U.S. financial crisis on Monday in an effort to move back to his domestic agenda after weeks of dealing with Syria.
Exclusive: Berlin mulls way to bank union without Treaty change – officials
VILNIUS (Reuters) – Germany is working on a plan that would allow the completion of a euro zone banking union without changing existing EU law, potentially removing a major hurdle to finish the most ambitious EU project since the start of the euro, EU …
Four men in court over alleged UK Santander cyber raid
LONDON (Reuters) – Four men appeared in a British court on Saturday over an alleged attempt to steal millions of pounds from Santander by hacking into the bank’s computer system, police said.
Rosneft CEO says plans energy projects in Belarus: reports
MOSCOW (Reuters) – Igor Sechin, the head of oil giant Rosneft , says it is planning energy projects in Belarus, Russian media reported on Saturday, a sign the close Kremlin ally will not let a potash dispute undermine the Russian state firm’s business …
Credit Suisse wants to sell its German private clients unit: paper
FRANKFURT (Reuters) – Credit Suisse wants to sell the private clients business of its German unit Credit Suisse Deutschland AG, German weekly WirtschaftsWoche reported on Saturday, citing financial sources.
