Citi Group would pay Fannie Mae US$968 million for potential mortgage repurchase claims incurred between 2000-2002.
Industry
NY Lawsuit against Sprint Nextel for Tax Fraud Charges Underway
Sprint Nextel face lawsuit for tax fraud in the state of New York (Photo : Reuters)The image is the facade of a Sprint store. Sprint Nextel is currently facing a lawsuit in the State of New York for charges that the telecoms company did not collect or pay millions of dollars worth of taxes for its cellular phone service.
NVCA Reports Strong 2nd Quarter for Venture Backed IPOs
Compared to the first quarter, 21 IPOs were backed by venture capitalists amounting to US$717 billion.
Deals of the day - M&As
The following bids, mergers, acquisitions and disposals were reported on Monday The following bids, mergers, acquisitions and disposals were reported on Monday: - Chinese state oil firm CNPC will buy a stake in Kazakhstan's giant Kashagan oil project, through back-to-back deals with Kazmunaigaz through which ConocoPhillips will exit, the Kazakh state oil firm said on Monday.
Stocks rally on third quarter with 12.6% gain
United States' manufacturing activity improved while construction costs hit a four-year high on third quarter's kick off.
Latest News
News Corp and 21st Century Fox started trading off their assets which gave investors the crucial choice between two different firms.
Independent debt advisory firm Tomorrow Partners offered a new high yield advisory service. A self-regulating debt advisory company initiated a high yield advisory service to foil its debt advisory services currently in operation.
Global shares gained after the metal industry and the yen weakened. (Photo : Reuters)This is the facade of the Bank of Japan. Global shares increased as the metal industry weakened.
Tribune Co would acquire 19 local TV stations worth US$2.73 billion after getting financed by 5 firms.
Sony Pictures entertainments experiences its second summer box office let down at the heels of Loeb's proposal to spin off the company.
Baruch Global Macro Fund to shadow strategies set by Gerard Satur. (Photo : Reuters)Former UBS Trader turned to investors to set up Baruch Global Macro Fund Gerard Satur, former UBS AG (UBSN) trader raised worth AUS $10 Million from various investors to form a global macro strategy group which will commence operations within day.
Ocean Yeild's initial IPO was cut and now attracts more potential buyers. (Photo : Reuters)The image shows a ship dry docking at a port. The price cut for the initial offer for Ocean Yield caught the attention of potential buyers due to the noticeable cut in the price.
The European Union accused 13 investment banks for conniving against rivals in the credit derivatives industry.
The 17 nations in Euro zone suffered from recession. Unemployment was high but inflation rate remains up.
