Kevin Bell News
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National Australia Bank Ltd., whose shareholders are seeking A$450 million ($472 million) of damages over its exposure to U.S. subprime debt, lost a bid to have the identities of the group members disclosed.
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Customers of bankrupt broker-dealer MF Global Inc. have been calling the Washington offices of the Securities Investor Protection Corp. today asking for their money, a lawyer for the corporation said.
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The Securities Investor Protection Corp., which initiated the liquidation of Bernard Madoff ’s money management firm, told a judge it has a “right to be heard” in trustee Irving Picard ’s $6.4 billion suit against JPMorgan Chase & Co.
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Credit Suisse Group AG plans to reorganize its investment bank next year to combine existing corporate finance teams into three broader groups, the Wall Street Journal reported, citing unidentified people familiar with the changes.
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MF Global Holdings Ltd.’s bankruptcy, the eighth-largest in U.S. history, is exposing a lack of internal controls that may have prevented a last-minute rescue of Jon Corzine’s futures broker.
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MF Global Holdings Ltd., under investigation by U.S. regulators after filing for bankruptcy protection, violated requirements that it keep clients’ collateral separate from its own accounts, the head of the world’s largest futures exchange said.
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A Delta Air Lines Inc. plane bound for Moscow from New York returned to John F. Kennedy International Airport after flames were seen coming from the plane, CNN reported.
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Sino-Forest Corp., the Chinese timber company whose shares were suspended in Toronto in August amid allegations of fraud, confirmed that it’s being investigated by the Royal Canadian Mounted Police.
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Camilla Sutton, Scotia Capital’s chief currency strategist, said a drop in February in foreign buying of Canada’s bonds was a “blip” and buying should return.
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Canadian regulators are planning to take the first steps towards introducing new rules on high-speed electronic trading, perhaps as early as today, the National Post reported, citing unidentified people familiar with the plans.
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