Fortis Bank Nederland News
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Fairfield Sentry Ltd., a so-called feeder fund to Bernard Madoff’s Ponzi scheme that is being liquidated, sued Fortis Bank Nederland NV, seeking $23 million in payments redeemed from the feeder, according to a March 10 bankruptcy court filing in Manhattan. The suit was one of several filed against banks including a Credit Suisse AG unit in an attempt to raise money to pay claims against Fairfield, including those from the liquidator of Madoff’s firm, according the the filings.
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Petroplus Holdings AG, the largest independent European refiner, said it plans to file for insolvency. The stock plunged 84 percent.
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Cocoa rose for the first time in three days on speculation that output will trail demand after exports fell from Cameroon, the fifth-biggest producer of the beans. Coffee gained for a second session.
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Cocoa rose to the highest price in more than two months on speculation that a global production shortfall will worsen as demand strengthens. Coffee also gained.
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Raw sugar rose to the highest price in almost two weeks on speculation that supplies will ease from Brazil, the world’s biggest producer.
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Tyler Hurst swiped his debit card at a Walgreens pharmacy in central Phoenix and kicked off an international odyssey of corporate tax avoidance.
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The U.K.’s inflation rate jumped more than economists forecast in March, breaching the government’s upper limit for the second time this year after energy costs rose within weeks of the election.
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Cocoa rose to the highest price in almost three months, extending the longest rally since October, on signs of increasing demand and reduced supplies from Ivory Coast, the world’s biggest producer. Coffee gained and orange juice was unchanged.
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U.K. retail sales rose for a third month in April as the economic recovery encouraged consumers to spend more at clothing shops and department stores.
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Cocoa prices rose to a one-week high on signs that a global-production deficit will widen. Coffee gained for the first time in three sessions on estimates that supplies will shrink.
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