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Lehman Brothers execs may escape charges

CHICAGO (Reuters) – A government probe into the fall of Lehman Brothers Holdings Inc has hit so many snags that enforcement officials fear they may never be able to bring civil or criminal charges against company executives, the Wall Street Journalreported on Saturday. According to the paper,Securities and Exchange Commission officials have begun to doubt…

Donald Trump declared persona non grata in Panama

PANAMA CITY — The municipal council of Panama City has declared US real estate tycoon Donald Trump persona non grata following remarks he allegedly made about the Panama Canal. “We unanimously approved a resolution that declared Donald Trump persona non grata,” Javier Ortega, a member of the council, told AFP…

Federal Reserve expected to claim no homes have been wrongfully foreclosed

Can you justify putting a family out on the streets? What about millions of families? According to remarks at a recent public meeting, the Federal Reserve is preparing to do just that. In a recent meeting of the Fed’s Consumer Advisory Council, the nation’s central bank came under intense criticism…

Wikileaks: Chinese government shared confidential AIG information with competitors

NEW YORK (Reuters) – U.S. officials believe China’s insurance regulator passed on proprietary information about AIG to its Chinese rivals during the American firm’s collapse in 2008, according to unpublished diplomatic cables. The U.S. government bailout of American International Group Inc in 2008 sent shock waves around the world, and…

Japan earthquake rocks markets

LONDON — World equities slid and the safe-haven yen steadied in volatile trade Friday after a huge earthquake in major economic power Japan, as dealers tracked a eurozone summit and unrest in the Arab world. A devastating 8.9-magnitude earth quake rocked Japan at 0546 GMT, unleashing a 10-metre high tsunami…

GM financial chief leaves after one year

DETROIT – General Motors chief financial officer Chris Liddell, a key architect of the automaker’s revival after its 2008-09 near-collapse, announced his resignation Thursday after one year in the job. The former Microsoft executive who turned to the auto industry to help with GM’s $49.5 billion government bailout and reorganization…

Angry Birds developer bags 42 million-dollar investment

HELSINKI – Rovio, the Finnish software company that unleashed the Angry Birds game on millions of mobile phone users, said Thursday it had raised a 42-million-dollar (30.4-million-euro) investment. “We will strengthen the position of Rovio and continue building our franchises in gaming, merchandising and broadcast media,” Mikael Hed, the chief…

Exclusive: Amazon coalition slams US judge’s decision to halt $9.5 billion judgment against Chevron

‘We are going to appeal,’ Amazon Defense Coalition tells Raw A judge in New York City ruled earlier this week that an Ecuador court’s decision to hold the Chevron oil company liable for $9.5 billion in damages should be placed on hold. The ruling freezes the landmark judgment until allegations…

Facebook puts six on Forbes billionaire list

NEW YORK (Reuters) – Facebook not only made household names out of its founders thanks to the movie “The Social Network” — it has also minted the latest crop of the richest people on the planet. Six of the founders and investors behind the hot Internet startup made the annual…

Regulator defends itself against bank ‘stress tests’ attack

LONDON — European banking regulators moved Wednesday to downplay reports that some of the new “stress tests” on banks due later this year would be less strict than the much-criticised tests carried out in 2010. The Financial Times (FT) reported that the European Banking Authority would soften parts of the…

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