Talks over an industry-wide settlement for banks involved in the Libor rate-fixing scandal have been informal, and are not advanced, Deutsche Bank co-chief executive Anshu Jainsaid on Thursday. Axel Weber, chairman of Swiss bank UBS, raised the possibility of an industry-wide settlement for the rest of the banks involved in […]
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World stocks fall on unexpected dip in US economy
An unexpected contraction in the U.S.economy at the end of 2012 sent world stock markets into retreat Thursday. The U.S. economy shrank in the fourth quarter for the first time since mid-2009, hurt by big cuts in defense spending, falling exports and sluggish growth in company inventories, the government reported […]
Credit Suisse fails to narrow Nat’l Century fraud trial
Credit Suisse Group Inc lost its bid to be tried separately from convicted National Century Financial Enterprises Inc co-founder Lance Poulsenin an upcoming $2 billion civil trial over fraud at the healthcare financier a decade ago. The decision released Thursday by U.S. District Judge James Graham means that more evidence […]
