Litigation Funder Considering Funding Claims Against Tesco
Litigation funder IMF Bentham and U.S.-based investment adviser
Elliott Management are considering funding claims of some
shareholders in Tesco, which has come under fire for actions that
led to a $413 million overstatement of its forecast
fiscal-first-half profit.
EE Confirms Talks With BT
U.K. mobile operator EE says it is in exploratory talks with BT
Group PLC, but cautioned that it is too early to state whether any
transaction may occur.
Samsung to Sell Stakes in Chemical, Defense Units
Samsung Group said it will sell controlling stakes in its
chemical and defense units for $1.7 billion as South Korea's
largest conglomerate continues restructuring moves ahead of an
expected leadership succession.
Justice Department Probes Possible HSBC Leak
The U.S. Justice Department is said to be investigating
allegations that an employee of HSBC Holdings leaked confidential
client information to a major hedge fund.
Bank of America Gets Short Term Waiver on Hedge-Funds
Bank of America can continue selling shares in hedge funds and
other private offerings after U.S. securities regulators gave the
bank a short-term waiver from certain restrictions triggered by a
recent fraud settlement.
Discover Sues Visa Over Debit-Card Practices
Discover Financial Services filed a lawsuit in federal court
against Visa, accusing its card-network rival of anticompetitive
practices in its debit-card business.
Kraken Bitcoin Operator to Help Liquidate Mt. Gox
San Francisco-based Payward, operator of the Kraken bitcoin
exchange, will help the collapsed Mt. Gox exchange investigate the
loss of hundreds of thousands of bitcoins and manage the process of
paying back its creditors, the companies said Wednesday.
China Opens Military Supplies to Private Firms
The People's Liberation Army is allowing private companies to
bid on contracts to supply a wide range of equipment and services
in a move to cut costs and give private firms a bigger role.