Jail-sentenced billionaire Mehmet Karamehmet is being sued for almost $10m (£6.6m) in the High Court over loans issued to Maltese shipping company Blue Shipping.
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Monday 12 January 2009
New Star Asset Management, the fund manager that controlled a tenth of the retail investment market as recently as two years ago, will be sold for a knock-down price by the end of the month.
Friday 09 January 2009
Wednesday 10 December 2008
Sterling hit a record low against the euro and a basket of currencies today as pessimism about the UK economy was reinforced by a think tank report showing a sharp contraction in growth.
Tuesday 02 December 2008
Tuesday 18 November 2008
Japan became the latest country yesterday to succumb to the disintegrating global markets and fall into recession, its first since the technology bubble burst seven years ago.
Tuesday 04 November 2008
The fallout from the collapse of Lehman Brothers continued yesterday, as two of Europe's biggest banks came clean on their exposure to the fourth-biggest US investment bank, which went bankrupt in September.
Sunday 02 November 2008
Tuesday 16 September 2008
Tuesday 02 September 2008
Tuesday 02 September 2008
Market moving business and economic news comes from the oddest of sources these days, and none more unexpected than The Guardian's Weekend magazine, home to lifestyle and celebrity tittle tattle.
Saturday 30 August 2008
Allianz, the giant German insurer, is expected to announce as early as tomorrow the sale of its retail and investment bank Dresdner to Commerzbank, with insiders expecting the takeover to be worth about €9bn (£7.2bn). Rumours earlier this year had linked Lloyds TSB with a possible rival bid.
Saturday 12 July 2008
The benchmark FTSE 100 index of blue-chip shares closed in bear market territory for the first time since the dotcom crash after it plunged nearly 3 per cent at the end of another dire week for UK investors.
Saturday 21 June 2008
Banco Santander, the Spanish group that owns Abbey, is considering a move to gatecrash the proposed merger between Commerzbank and Dresdner Bank, although insiders believe an all-German tie-up is already a "done deal".
Monday 16 June 2008
Lloyds TSB is considering a bid for Deutsche Postbank, Germany's biggest retail bank, to put into action its long-held ambition to expand internationally.
Saturday 15 March 2008
Alan Schwartz went on television on Wednesday to try to dispel the rumours mounting over Bear Stearns for the previous 48 hours. Speaking from a conference in Florida, he painted a sunny picture of the bank's finances.
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