Hannes Smarson is facing embezzlement charges is his role in the misappropriation of funds from FL Group hf during his time as its chairman.
Firm Management
Transocean, Icahn resolve proxy battle
Transocean Ltd announced on Monday its plans to appoint new members of its board of directors in Switzerland, an initial public offering of a Master Limited Partnership, and an equity payout of USD3 dividend.
Eman Mansour to open new investment banking firm
Dubai would be host to Eman Mansour's latest investment banking endeavor. Veteran Gulf Arab banker Emad Mansour had laid out plans to establish a new investment bank located in the tax free financial zone of Dubai.
EU seeking creation of bank to oversee banks in the EU
Germany's coalition government formalized a measure to provide funds and expertise for a European bank to manage the loan agreements and if necessitated, closure of banks.
BT to show all UEFA games, leaving Sky in the cold
New broadcasting firm BT acquired exclusive rights to broadcast UEFA football games. BT had scored a coup in the multibillion pound sports broadcasting market.
Latest News
The Hustle, as it was known, rewarded volume instead of quality for mortgages sold by Bank of America to Fannie Mae and Freddie Mac.
A new issue had arisen between the epic patent infringement battle between Samsung and Apple. A judge has found that Samsung violated a court ordered agreement as to the secrecy of Apple documentation filed on the case.
Cargill India to construct industrial factories located in Punjab. Cargill, the agriculture firm, announced recently the preparedness in constructing INR 100 crore ultra modern feed plant located int he Malwa belt in Punjab.
Employment, salaries, automotive and other industries grow after the sixteen day US government furlough.
Retail giant Lulu Hypermarkets, under the leadership Yussuffali MA is expanding to Asia, North Africa and Middle East.
Newly named BlackBerry executive chairman and interim CEO John Chen doesn't doubt the Canadian company's ability to make a comeback.
SAC's first public statement after pleading guilty was criticized for lack of contrition. SAC Capital Advisors was criticized for its lack of contrition after pleading guilty on four counts of securities fraud and one count of wire fraud.
Investors were positive that BlackBerry can make a comeback, but in the meantime stakeholders especially employees are taking the brunt of the crisis.
Lawyers for Major League Baseball and Alex Rodriguez argue as to jurisdiction of the case, if it were in federal court or state court.
