U.S. judge to approve plan that pays GM creditors

General Motors
A federal judge said on Thursday he would approve the bankruptcy plan for Old GM, wrapping up one of the most complex Chapter 11 cases in U.S. history and paving the way for a distribution of General Motors stock and warrants to creditors.

Goldman's Blankfein to testify at Galleon insider trading

Goldman Sachs Chairman and CEO Lloyd Blankfein is sworn in before testifing at Senate Homeland Security and Governmental Affairs Investigations Subcommittee hearing
Goldman Sachs Group Chief Executive Lloyd Blankfein has agreed to testify for the U.S. government at the upcoming trial of Galleon hedge fund founder Raj Rajaratnam, the Wall Street Journal reported, citing people familiar with the matter.
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Murdoch gets green light for BSkyB takeover

Rupert Murdoch's News Corp took a huge step toward securing its prized $14 billion buyout of satellite broadcaster BSkyB when Britain accepted its proposals to ease competition concerns.
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Sky News broadcast is shown on television screens in an electrical store in Edinburgh

News Corp offers to sell Sky to ease BSkyB deal

Rupert Murdoch's News Corp has offered to sell Sky News and also subsidize the channel for years to win approval of its planned takeover of all of British pay TV company BSkyB , the BBC reported on Wednesday.
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Madoff trustee sues Tremont for $2.1 billion

The trustee seeking money for victims of Bernard Madoff's Ponzi scheme has sued Tremont Group Holdings for $2.1 billion, saying it missed warning signs the business could be a fraud.
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Goldman estimates $3.4 billion in legal losses

Goldman Sachs Group Inc could lose up to $3.4 billion from lawsuits and other disputes over the securities it sold and underwrote, the investment bank said in its annual filing with regulators on Tuesday.

EU court bans men-women insurance discrimination

Insurers must stop setting prices based on gender, an EU court ruled, in a move that could raise costs for women drivers, cut male pensions and invite more legal challenges to pricing practices.
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Top SEC lawyer did not recuse himself on Madoff

The top attorney for the U.S. securities regulator was advised not to recuse himself from handling Bernard Madoff matters for the agency, even though his family's estate had invested with the swindler.
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Ex-Colonial Bank exec to plead to criminal charges

A former executive at Colonial Bank, which collapsed in part because of its close ties to the now-bankrupt Taylor, Bean & Whitaker Mortgage Corp, is expected to plead to criminal charges on Wednesday.
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Citi could face up to $3 billion in Lehman claims

Citigroup Inc could face up to $3 billion in claims from the bankruptcy proceedings of Lehman Brothers Holdings Inc , the third largest U.S. bank by assets said in a regulatory filing on Friday.
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Freddie Mac exec facing possible SEC charges

A top Freddie Mac executive received notice the government may file charges against him for allegedly violating securities laws in the years leading up to the housing bust, according to a regulatory filing released on Thursday.
7. Michigan

Foreclosure deal slowed by infighting: sources

U.S. regulators' efforts to settle with banks over improper mortgage foreclosures are being hampered by infighting among the groups involved in the talks, and a settlement may take a while, according to sources familiar with the matter.
Malikah Shabazz and her sisters appear together outside Jacobi Medical Center in New York City shortly after the death of their mother Dr. Betty Shabazz on June 23, 1997

Twin daughter of Malcolm X denied bail in identity theft case

Malikah Shabazz, one of the children of slain civil rights leader Malcolm X, has been denied bail by a North Carolina court in connection with grand larceny, forgery and identity theft and could face trial in New York City where warrants have been issued against her.


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