Fund managers BlackRock Inc and Neuberger Berman Group LLC seek settlement in the amount of USD5.75 billion for mortgage backed securities fraud.
Legal & Regulatory
Federal jury sides with Apple on patent infringement case
Apple scored a victory against Wi-Lan on a patent infringement lawsuit. A Texas federal jury ruled that Apple did not infringe a patent from Wi-Lan Inc.
Chong Hing Bank trading halted pending confirmation of buyout
Share trading of Chong Hing Bank and its parent company were suspended temporarily pending confirmation of the sale of the bank to Yue Xie Group.
Radian Group files case against former worker for giving trade secrets to Arch Capital Group
Radian Group filed a case against former account manager Rhiannon Bolen for giving confidential data to Arch Capital Group.
New amendments to pending Volcker rules may postpone implementation
New inclusions to avoid the London Whale scandal is sought to be included in the new Volcker Rules, which may result in failure to meet the mandated year end deadline.
Latest News
Under new Bank of Canada Governor Stephen Poloz, the bank retained its benchmark interest rate level for the 24th consecutive month.
Called expedited processing, the Telecommunications Regulatory Authority of UAE would allow direct offers of prepaid products to be made by telcos.
Upon appointment of the Dubai ruler, the Dubai Financial Market has a new chairman in Essa Kazim. The ruler of Dubai had appointed Essa Kazim to the position of chairman of the bourse operator Dubai Financial Market.
Nearly USD1 billion would be the settlement amount to be paid by Rabobank for allegations of interest rate manipulation for the Japanese yen.
A final decision would be made on the commencement date for submission of tax returns for 2013 by the IRS in December.
In a bid to get past the Macy's suits filed against the retailer and Martha Stewart, JCPenney had decided to amend the agreement it had entered into with Martha Stewart Living Omnimedia.
While there was an offer made for the club, Birmingham City management said that there were 'no immediate plans' to sell.
Canadian Prime Minister Stephen Harper had removed many hurdles for US and European investors in Canadian enterprises.
Aside from the monetary penalties, the Attorney General required some form of admission of criminal liability on the part of JPMorgan.
