Peter Anderson News
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Eight former Morgan Keegan & Co. mutual-fund directors agreed to settle U.S. regulatory claims that they allowed assets backed by subprime mortgages to be overvalued as the housing market collapsed in 2007.
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Three million of Pakistan’s richest income tax evaders will get 90 days to take up a government amnesty offer after which they will be hounded by inspectors under the nation’s most ambitious plan to improve its finances.
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Changes to Australia’s retirement savings system will lift the nation’s pension pool by A$500 billion ($463 billion) by 2035, helping to shape financial services into a key export industry, Australian Prime Minister Kevin Rudd said.
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Two Wisconsin state Supreme Court justices who allegedly had a violent encounter over collective- bargaining legislation won’t face charges, said a state district attorney appointed as special prosecutor to review the incident.
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The U.S. Treasury Department announced an $88.3 million settlement with JPMorgan Chase & Co. for apparent violations of international sanctions programs, including Cuban assets control and anti-terrorism regulations.
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Waste Management Inc.’s acquisition of Oakleaf Global Holdings Inc. should be investigated by the U.S. Justice Department as the garbage-hauling industry continues to consolidate, said a group that favors stronger antitrust enforcement.
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Australian Prime Minister Julia Gillard and predecessor Kevin Rudd failed to quash speculation they will face off in a party leadership contest, raising the prospect of a prolonged showdown.
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Eight former directors overseeing mutual funds for Morgan Keegan & Co. were accused by U.S. regulators of allowing assets backed by subprime mortgages to be overvalued as the housing market collapsed in 2007.
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Australian home-loan approvals fell for a second month on the fastest exodus of first-home buyers in a decade, increasing pressure on the central bank to cut interest rates as consumer confidence weakens.
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Australian Prime Minister Julia Gillard said returning the budget to a surplus gives the central bank “maximum room” to adjust interest rates and ease pressure on manufacturers that have been hobbled by currency gains.
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