Barclays Bank News
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Urbi Desarrollos Urbanos SAB, a Mexican real-estate developer, asked a court in New York to dismiss a suit filed by Barclays Plc over financial derivatives.
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Deutsche Bank AG sued Mexican real- estate developer Urbi Desarrollos Urbanos SAB in New York for $61.1 million for defaulting on loans, while a Barclays Plc unit sued homebuilder Desarrolladora Homex SAB over a swaps agreement.
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Citigroup Inc. sued Barclays Plc for more than $141 million, claiming the London-based bank refused to indemnify it for losses suffered providing foreign-exchange settlement services to Lehman Brothers Holdings Inc.
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Germany’s top trade unionist, Michael Sommer, looked out on a May Day crowd of workers and told them that a proposed labor flexibility plan wouldn’t create a single job.
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Kenyan President Uhuru Kenyatta named 12 more nominees for Cabinet posts, favoring people with private-industry experience and technical expertise to back his plans of doubling growth in East Africa’s largest economy.
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Takaful Insurance of Africa Ltd., Kenya’s only Shariah-compliant insurer, plans to expand its operations into five East African nations, Chief Executive Officer Hassan Bashir said.
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Urbi Desarrollos Urbanos SAB, whose stock is the worst-performing member of Mexico’s benchmark index this year, said it’s considering restructuring debt as Barclays Plc and Credit Suisse Group AG filed suits over financial derivatives.
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Barclays Plc plans to add branches in Egypt this year as Britain’s second-biggest bank by assets seeks to expand in the North African country after rivals from France sold local units.
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Barclays Plc is stuck holding a 697 million-euro ($900 million) stake in Ziggo NV, a Dutch cable- television operator, after failing to find enough buyers for a 20 percent share sale it managed for owners Warburg Pincus LLC and Cinven Ltd. this week.
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The Ghana Stock Exchange Composite Index snapped the longest losing streak since the seven days through July 15, increasing 0.2 percent to 1,145.55 by the 3 p.m. close in Accra.
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