10 July, 2015 by The TZ Newswire Staff Comments Off on Lehman’s Fuld defeats employee lawsuit over retirement losses
Lehman’s Fuld defeats employee lawsuit over retirement losses
A U.S. federal judge on Friday dismissed a lawsuit by former Lehman Brothers Holdings Inc employees seeking to hold onetime Chief Executive Richard Fuld liable for their retirement plan losses as the Wall Street bank plunged into its 2008 bankruptcy. U.S. District Judge Lewis Kaplan in Manhattan rejected claims that Fuld breached an obligation to share what he knew about Lehman’s fast-deteriorating finances with officials who oversaw the plan, where Lehman stock was an investment option.
10 July, 2015 by The TZ Newswire Staff Comments Off on Delta Air Lines pilots reject tentative contract: union
Delta Air Lines pilots reject tentative contract: union
Nearly 7,000, or 65 percent, of voting pilots rejected the contract, according to Delta’s Master Executive Council, part of the Air Line Pilots Association (ALPA). Delta has said it would purchase 20 used and 40 new single-aisle aircraft from Boeing to replace planes scheduled to retire through 2019 if the new contract was ratified. Delta and Boeing declined to comment.
10 July, 2015 by The TZ Newswire Staff Comments Off on Chesapeake Energy ordered to pay $379.7 million in bond dispute
Chesapeake Energy ordered to pay $379.7 million in bond dispute
A U.S. federal judge on Friday ordered Chesapeake Energy Corp to pay $379.7 million to bond investors, after the natural gas company waited too long to tell them of its plan to redeem their $1.3 billion of bonds six years early. U.S. District Judge Paul Engelmayer in Manhattan agreed with bond trustee Bank of New York Mellon Corp that holders of Chesapeake’s 6.775 notes maturing in 2019 were entitled to a special “make-whole” price because of the early redemption.
10 July, 2015 by The TZ Newswire Staff Comments Off on Over To You Merkel: Greek Govt Approves Bill The Greek People Soundly Rejected
Over To You Merkel: Greek Govt Approves Bill The Greek People Soundly Rejected
The Greek parliament has approved the proposal Alexis Tsipras submitted to creditors on Thursday. The ball is now in Europe’s court with a Eurogroup meeting scheduled for Saturday.
- GREEK LAWMAKERS APPROVE GOVERNMENT’S BAILOUT PROPOSAL: TALLY
10 July, 2015 by The TZ Newswire Staff Comments Off on The Financial Attack On Greece: Where Do We Go From Here?
The Financial Attack On Greece: Where Do We Go From Here?
10 July, 2015 by The TZ Newswire Staff Comments Off on Free Willy: FCA Drops Case Against London Whale
Free Willy: FCA Drops Case Against London Whale
Once upon a time, at JP Morgan’s London-based internal hedge fund CIO unit, a legend was born.
Bruno Iksil — better known as “The London Whale” or “Voldemort” or “He Who Must Not Be Named” — carved out his place in the annals of CDX trading history when a tail hedge gone wrong effectively forced him to sell massive amounts of protection on IG.9 back in Q1 of 2012.