- UBS, Ernst & Young Facing Luxembourg Test Cases Over Madoff-Linked Funds UBS AG and Ernst & Young LLP may face hundreds of damages claims if investors who lost millions of dollars in mutual funds linked to Bernard Madoff’s Ponzi scheme win a group of Luxembourg test cases.
- Sinopec, TPG Said to Have Weighed Joint Offer for Bankrupt LyondellBasell China Petroleum & Chemical Corp., the nation’s biggest oil refiner, and U.S. buyout firm TPG have weighed a bid for bankrupt chemicals company LyondellBasell Industries AF that could challenge Reliance Industries Ltd.’s offer of about $12 billion, said two people familiar with the matter.
- ECB Said to Debate Putting Adjustable Interest Rate on 12-Month Loans European Central Bank officials are debating whether to put an adjustable interest rate on December’s 12-month loans, with some saying it risks being interpreted as a signal they will tighten monetary policy in 2010, according to people familiar with the discussions.
- Mixed-Sex Saudi University Championed by Abdullah Hits Clerical Opposition Saudi Arabia, the only country in the world that forbids women from driving, isn’t ready to alter that, said Ali Suwaiyel, a 28-year-old Saudi banker.
- Stanley Fischer Speaking Means Ben Bernanke Listening When Rates Fluctuate When U.S. Treasury Secretary Timothy Geithner landed in Istanbul for a global economic summit on Oct. 2, his first meeting among the finance ministers and central bankers invited from more than 150 countries was with a man who controls an economy smaller than Missouri’s.
- McCormick Bad Dollars Derive From Economist Deficits Model Beating Quants James McCormick was home with his family in London on the evening of Sunday, Sept. 14, 2008, when he found out that Lehman Brothers Holdings Inc., his employer of seven years, was filing for bankruptcy. The news, relayed on a conference call, derailed a two-year project building an analytical model that would predict currency movements based on economic data.
- Dubai Surrenders Autonomy as Crisis Bolsters Oil-Rich Emirate of Abu Dhabi Until last month, a billboard at one of Dubai’s busiest roundabouts featured one photo, of Dubai ruler Sheikh Mohammed Bin Rashid Al Maktoum. The new billboard says “Long live our Emirates union” and also shows United Arab Emirates President Sheikh Khalifa Bin Zayed Al Nahyan.
- News Corp. Joined By Rivals Considering Pulling Their Stories From Google Publishers of the Denver Post and the Dallas Morning News may pull some of their stories from Google Inc.’s news site, a move that would emulate News Corp.’s Rupert Murdoch.
- Wells Fargo Takes Back Sea Island's Frederica Community Project in Georgia Wells Fargo & Co. took the deed to Sea Island Co.’s 3,000-acre Frederica community in Georgia, adding to the list of developments caught in the commercial property crunch.
Bllomberg Daily News 25th November 2009
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