Billionaire Uday Kotak, the controlling shareholder of the Indian bank with the highest lending margins, said rising bad loans will pose challenges this year to lenders in Asia’s third-largest economy.
A U.S. judge said she wasn’t ready to approve Citigroup Inc. ’s $75 million settlement with federal securities regulators over claims the bank misled investors by failing to disclose $40 billion in subprime-related holdings.
Citigroup Inc. failed yesterday to win a judge’s approval to pay $75 million to settle with the U.S. Securities and Exchange Commission over claims the bank misled investors by understating subprime-related holdings.
The Obama administration’s decision to interrogate the Boston Marathon bombing suspect without first warning him of his rights has sparked criticism from both sides of the political spectrum about the best way to prosecute terrorism cases.
House Speaker John Boehner is accusing the White House of deciding to “conceal” a Justice Department opinion that contradicts President Barack Obama’s argument that the U.S. mission in Libya doesn’t need congressional authorization to continue.
Mohammad Safi, a graduate of a medical school in Afghanistan, began working as a psychiatrist at a California mental hospital in 2006, making $90,682 in his first six months. Last year, he took home $822,302, all of it paid by taxpayers.