Cash-strapped cities, states and municipal agencies across the U.S. are mulling legal action related to Libor and its effect on hundreds of millions of dollars in loans.
At Peregrine, fraud charges, shock and missing money
By all accounts Russell Wasendorf seemed to be doing better than ever. He was organizing fundraising events, making plans to open a new Italian restaurant and overseeing a growing commodity trading firm that had put his hometown of Cedar Falls, Iowa, on the map.
U.S. hedge fund challenges Telus on foreign investment rules
A U.S. hedge fund that thwarted Telus Corp.’s share consolidation plan is using a legal tactic to force the Canadian telecommunications giant to reveal whether it remains in compliance with this country’s foreign investment rules, while also increasing its ownership stake in the Vancouver-based company.
Xstrata sets September date for Glencore vote
Xstrata PLC said shareholders will vote on Sept. 7 on the miner’s planned $26-billion takeover by Glencore, effectively giving the commodities trader and rival investor Qatar Holding six weeks to hammer out an agreement on the terms of the offer.
New attacks on potash ‘cartel’
Two Canadian corporate giants, Potash Corp. of Saskatchewan Inc. and Calgary-based Agrium Inc., are among a list of worldwide potash producers facing a revived U.S. lawsuit that accuses them of acting like a “tight-knit global cartel, similar to OPEC in its heyday.”
Ontario Teachers cash in 1.35 million MDA shares
While shareholders and analysts were applauding MacDonald Dettwiler and Associates Ltd.’s big U.S. acquisition two weeks ago, the company’s largest shareholder took the opportunity to cash out a significant chunk of its holdings.
Slumping demand hits Airbus
Airbus SAS abandoned a target of selling 30 A380 superjumbo jets this year, as airlines opt for smaller, less-expensive airliners in an economic slump.