Diamond Hits Back at Libor Allegations
Former Barclays Chief Executive Robert Diamond hits back at
allegations that he had misled U.K. lawmakers when giving evidence
over an interest-rate scandal, calling them "unfair and
unfounded."
HSBC to Apologize At July 17 Senate Hearing
HSBC Holdings will apologize for lax anti-money laundering
controls at a July 17 U.S. Senate hearing, the London-based
lender's chief executive says in an internal memo seen by Dow Jones
Newswires.
J.P. Morgan Seeks Clawback After Trading Blunder
J.P. Morgan plans to reclaim millions of dollars in stock from
executives at the center of the trading blunder that shocked Wall
Street and tarnished the reputation of Chief Executive James Dimon,
people familiar with the plan say.
Report HSBC to Apologize At July 17 Senate Hearing
HSBC Holdings will apologize at a July 17 U.S. Senate hearing
and say its anti-money laundering controls should have been better,
Bloomberg News reports.
Amazon.com Working on Smartphone
Officials at some of Amazon's parts suppliers say the
Seattle-based company is testing a smartphone and mass production
of the new device may start late this year or early next year.
Elpida Bondholders Protest Sale To Micron
Elpida Memory bondholders say the integrity of Japan's corporate
restructuring is at stake in a brewing dispute over the planned
sale of the chip maker to rival Micron Technology.
CFTC Sues Peregrine Financial, CEO
Federal regulators sue Peregrine Financial Group, the parent
company of PFGBest, and chief executive Russell Wasendorf Sr.
alleging fraud, customer funds violations and making false
statements.
Judge Allows Patriot Coal to Access $802M Loan
Patriot Coal is allowed to start borrowing on most of an $802
million bankruptcy loan from a group including Citigroup, Barclays
and Bank of America, a day after it filed for Chapter 11 bankruptcy
protection.
Rogers Says CEO's Style Troubled Duke Board
Jim Rogers, chief executive of Duke Energy, tells regulators he
didn't orchestrate the removal of Bill Johnson, the company's newly
installed chief executive, which restored Rogers to the top
executive spot.
Lockheed Martin Cuts 740 Jobs in Mission Systems Unit
Lockheed Martin says it has cut 740 jobs from its mission
systems and sensors business, which the defense contractor says is
part of its efforts to improve efficiency and affordability in a
challenging budget environment.
Blackstone Aims to Shed U.S. Office Portfolio
Private-equity firm Blackstone is preparing to sell its
portfolio of U.S. office buildings, a move that would signal that
one of the property sector's most active buyers is moving into a
selling phase as top office markets recover.
ANALYSIS & COMMENTARY:
THE WALL STREET JOURNAL: Airbus Tries New Way of Building
Planes
Engineers developing the Airbus A350 race to create an airliner
aimed at redefining comfort and efficiency. They're also are trying
to prove they can build a plane without major delays, Daniel
Michaels writes.
THE WALL STREET JOURNAL: Traders Take Smaller Bites of Apple
Individual investors, facing triple-digit prices for shares of
Apple and Google, increasingly are turning to options as a cheaper
way to trade, Kaitlyn Kiernan writes.
THE WALL STREET JOURNAL: RIM CEO, Board Move to Appease
Shareholders
In a further move aimed at appeasing frustrated investors,
Research in Motion chairwoman Barbara Stymiest says it is actively
looking to further shake up its board of directors.
ANALYSIS: PFGBest Customers Grapple With Outrage, Frozen
Funds
Commodities investors are scrambling for answers from Peregrine
Financial Group, or PFGBest, as the possibility emerges that the
firm has misappropriated more than $200 million from its customers'
accounts.
THE WALL STREET JOURNAL: AMR to Formally Explore Mergers
American Airlines parent AMR Corp. plans to formally sound out
potential partners to discuss mergers or other investment deals in
coming weeks, say people familiar with the matter.