Seth Klarman's Baupost Group, for only the second time, would return money to its clients. One of the largest hedge funds in the world, Seth Klarman's Baupost Group has nearly USD28 billion in its portfolio, had laid out plans to return money to its clients by the end of 2013.
Legal & Regulatory
Japanese firms pay up for price fixing machinations against US automakers
In an unprecedented sweep, several Japanese firms and their executives have been charged with conspiracy to undertake price fixing and agreed to settle amounts with the US Justice Department.
NASDAQ OMX set out new offers to retain clients
New product offers have been made by NASDAQ OMX such as USD10,000 contracts for its clients in the currency market.
Royal Park sues Credit Suisse over residential mortgage backed securities
Royal Park claims fraud in the marketing and sale of residential mortgage backed securities. A suit was filed against the Credit Suisse Group AG in New York for USD359 million worth of residential mortgage-backed securities.
JPMorgan's settlement to reach USD11 billion
JPMorgan Chase & Co are deep in the negotiations to settle the probes conducted at the state and federal levels.
Latest News
Saudi Arabia's taxi business is in chaos with the conflicting regulations, leading to the pull out of investors.
The National Credit Union Administration (NCUA) had filed complaints against Morgan Stanley and eight other financial institutions for selling faulty mortgage-backed securities.
Xinyi Glass announced plans to spin off Xinyi Solar Holdings and list it in the Hong Kong market. China-based Xinyi Glass Holdings Ltd announced its intention to spin off Xinyi Solar Holdings Ltd and list the business in the Hong Kong bourse.
According to two unidentified sources, China would be opening its Internet portals to Facebook and other websites in the free trade zone in Shanghai.
The proposed settlement for healthcare benefits claim of Peabody Energy Corp was rejected by the United Mine Workers of America.
Entergy Corp officials said on Monday that the company had resubmitted its grid plan sale to Texas regulators.
Bank of America would go on trial this week over fraud charges related to home mortgages which was alleged to defraud Fannie Mae and Freddie Mac.
AMR and US Airways indicate new deadlines on their eventual decision on the merger as the lawsuit had affected the businesses.
JP Morgan Chase & Co. was mandated to pay USD389 million in penalties and restitution after the bank was alleged in unfairly charging its customers for credit monitoring programs.
