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Banks Spell Out Deep Cost Cuts
UBS AG said in August it would cut 3500 jobs, and executives there are expected to further scale back its once-high-flying investment bank. Goldman Sachs Group Inc. said in July it expects to cut 1000 positions, but the firm has already exceeded that
Updated: 11/01/2011 08:08P
Indian traders fear losing over $100 mn margins with MF Global
Don't be surprised if a slice of the $700 million missing from the books of MF Global, now under the scanner of American regulators, belongs to Indian traders. Many local traders in commodity futures have accounts with the brokerage arm of MF Global
Updated: 11/01/2011 08:06P
The story of Indian Railways' miraculous transformation
The vast real estate that Indian Railways owned was used for more productive purposes. He made the Indian trains run faster and longer. Laloo inculcated the spirit of cooperation among the thousands of internal Indian Railways' departments.
Updated: 11/01/2011 08:06P
MF Global: Just the Right Size to Fail?
Is trading firm MF Global Holdings too big to reorganize under Chapter 11 bankruptcy proceedings? Maybe. Was it too big to fail? Apparently not. "They concentrated exposure, but not enough to sink the system," says Anna Gelpern, a law professor at the
Updated: 11/01/2011 08:03P
McCourt reportedly in talks to sell Dodgers
"When I saw that it sounded to me like a settlement was in the works that would probably included a sale of the Dodgers," said Robert Rasmussen, dean of USC Gould School of Law and expert in bankruptcy law. "From an ordinary fan's perspective,
Updated: 11/01/2011 08:02P
Missing funds at center of MF Global bankruptcy case
MF Global, a brokerage giant with dealings in steel futures, filed for bankruptcy protection Monday. "For several days, the SEC, CFTC and other regulators had been closely monitoring developments affecting MF Global Inc, a jointly registered futures
Updated: 11/01/2011 08:01P
Investors want to see Kodak's cash
The century-old loss-making American corporate icon is grappling with the specter of default by many measures, though Kodak itself denies it is formulating bankruptcy plans. Analysts say the long-suffering company is depleting its coffers rapidly while
Updated: 11/01/2011 08:00P
Hagens Berman Investigates MF Global Following Bankruptcy Filing
MF Global filed for bankruptcy on Oct. 31, 2011. On the same day, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) issued a joint statement, noting that a deal to sell off part of the company to another
Updated: 11/01/2011 07:57P
Curator sent to jail for bribing judge
JAKARTA: The Jakarta Corruption Court sentenced curator Puguh Wiryawan (see photo) to three years and six months in jail on Tuesday after he was found guilty of bribing a Central Jakarta Commercial Court bankruptcy judge during the asset confiscation
Updated: 11/01/2011 07:56P
Wall Street firm led by former NJ Gov. Jon Corzine violated federal financial
Jon Corzine that declared bankruptcy this week, has violated federal requirements for segregating customer accounts, the operator of the Chicago Mercantile Exchange said today. "CME has determined that MF Global is not in compliance with (Commodity
Updated: 11/01/2011 07:54P
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