British Government grants 10-million-pond loan for Tata Motors's 'green' carSeptember 19th, 2009 LONDON - The British Government has announced a 10-million-pound loan to Indian carmaker Tata Motors for the electric car-manufacturing project in the UK. The loan, part of a scheme backing low-carbon technology in the motor industry, will support a 25 million pound investment by Tata Motors in its West Midlands base, The Scotsman reports.
Ex-Morgan Stanley banker sentenced to 7 years in prison in Hong Kong insider trading caseSeptember 18th, 2009 Ex-Morgan Stanley banker gets 7 years jail in HKHONG KONG — An ex-Morgan Stanley banker was sentenced Friday to seven years in prison in Hong Kong's biggest insider trading case. Du Jun, a former managing director of the New York-based investment bank, also was fined about 23 million Hong Kong dollars ($3 million).
NY prosecutors level new fraud allegations against high-profile Democratic fundraiserSeptember 2nd, 2009 Democratic fundraiser faces new allegations in NYNEW YORK — Prosecutors have leveled new allegations against a wealthy fundraiser for Hillary Clinton and other top Democrats, claiming he paid back a $74 million fraudulent loan by deceiving a second bank. Hassan Nemazee was arrested last week on charges that accuse him of using forged documents to get a loan from Citibank.
Singapore's DBS Group appoints Citi's Piyush Gupta as CEOSeptember 1st, 2009 SINGAPORE - Singapore's DBS Group Holdings Ltd, the biggest bank in South-East Asia, said Tuesday that it has appointed Piyush Gupta from Citibank Inc as its chief executive officer, about five months after the death of its previous CEO. Gupta, 49, is currently Citibank's chief executive for South-East Asia and the Pacific and is to join the DBS Group in November, the bank said in a statement.
Prudential Mortgage closes $100M client loan for retail propertiesAugust 27th, 2009 Prudential Mortgage closes $100M loanNEWARK, N.J. — Prudential Mortgage Capital Co.
Prominent Democratic fundraiser leaves jail for house arrest in his $20M NYC apartmentAugust 26th, 2009 NY fundraiser for Democrats freed on bailNEW YORK — A prominent fundraiser for President Barack Obama, Hillary Rodham Clinton and other top Democrats left jail Wednesday for his $20 million Manhattan apartment, where he will remain under house arrest. Investment banker Hassan Nemazee, 59, left U.S.
NY investment banker and prominent fundraiser charged with fraud leaves jail for his $20M homeAugust 26th, 2009 NYC banker accused of fraud freed on bailNEW YORK — A prominent fundraiser for President Barack Obama, Hillary Rodham Clinton and other top Democrats has left jail for his $20 million Manhattan apartment. Investment banker Hassan Nemazee (hah-SAHN' nah-MAH'-zee) was arrested Tuesday on a bank fraud charge.
Investment banker who worked as Clinton fundraiser accused of faking documents for $74M loanAugust 25th, 2009 NY prosecutors accuse investmant banker of fraudNEW YORK — An investment banker who has served as a key fundraiser for Bill and Hillary Clinton and other top Democrats was arrested Tuesday on charges he lied to Citibank to get a $74 million loan. Prosecutors accused Hassan Nemazee of giving Citibank documents showing he owned millions of dollars in collateral.
Swiss banker, lawyer charged with helping clients evade US taxesAugust 20th, 2009 Swiss banker, lawyer face US tax charges in probeMIAMI — A Swiss banker and a lawyer are the latest to face U.S. criminal charges in a wide-ranging international tax evasion investigation.
Atlanta City Council approves civil rights museum's plan to pay off King Papers loanJuly 21st, 2009 Plan to pay off King Papers wins council approvalATLANTA — The Atlanta City Council has cleared the way for a civil and human rights museum to pay off $11.5 million on a loan so it can acquire display rights to thousands of documents of the late Martin Luther King Jr. Private fundraising had slowed efforts in a bad economy to pay off the original $32 million loan taken out in 2006 to buy the historic trove of 10,000 documents.
Citibank assistant manager held for fraudJune 22nd, 2009 NEW DELHI - An assistant manager of Citibank's Ludhiana branch has been arrested along with his two accomplices for committing fraud to the tune of Rs. 10 million, police said Monday.
Massachusetts AG announces $60 million settlement with Goldman for its role in subprime crisisMay 11th, 2009 Massachusetts AG in $60 million deal with GoldmanBOSTON — The Massachusetts attorney general has reached a $60 million settlement with investment banker Goldman Sachs for its role in the state's subprime lending problem. Goldman has pledged to provide $50 million in relief to homeowners and make a $10 million payment to the state as part of the settlement.
Banks, investment firms borrow less over past week from Fed's emergency lending programMay 8th, 2009 Banks, investment firms draw less from FedWASHINGTON — The Federal Reserve says banks and investment firms borrowed far less over the past week from its emergency lending program, a hopeful sign some credit stresses are easing. The Fed says commercial banks averaged $40.9 billion in daily borrowing over the past week that ended Wednesday.
Citibank reduces PLR to 14.75 percent from 15 percentApril 29th, 2009 MUMBAI - Citibank today announced it has reduced its Prime Lending Rate (PLR) by 25 basis points to 14.75 per cent from the present 15 per cent. The new PLR will be effective May 1, 2009.
Citibank to continue recruitment in India despite slowdownMarch 6th, 2009 KOLKATA - US-based financial power house Citibank may be facing one of its worst crises in its home territory. But the bank Thursday said it would continue with its recruitment process in India.
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