Citi to pay $360 million to end $1 billion Lehman collateral dispute
(Reuters) – Citigroup Inc has agreed to pay $360 million to the brokerage estate of Lehman Brothers to resolve a dispute over $1 billion in collateral that the investment bank was forced to post in the days leading up to its ban kruptcy in 2008. According to a settlement reached on Friday with the trustee liquidating Lehman Brothers's U.S. brokerage unit, Citigroup will also relinquish its claim to $75 million that was contingently paid to the estate at the beginning of the liquidation, court documents showed. …
Praise and pressure as Obama begins historic Myanmar visit
YANGON (Reuters) – Barack Obama has become the first serving U.S. president to visit Myanmar, arriving on Mon day for a trip that will attempt to strike a balance between praising the government's progress in shaking off military rule and pressing it for further reforms. His plane landed in the former capital Yangon, where he will meet President Thein Sein, a former junta member who has spearheaded reforms since taking office in March 2011, and opposition leader Aung San Suu Kyi, who led the struggle against military rule and, like Obama, is a Nobel Peace Prize laureate. She is now a lawmaker. …
Stabbing at B.C. hotel leaves five staff members injured; manager in custody
SAANICH, B.C. – Five staff members at a Victoria-area hotel are injured and a manager is in custody after a weekend stabbing.
Obama opens landmark visit to Myanmar
President Barack Obama is opening his historic trip to Myanmar, becoming the first U.S. leader to visit the once-pariah nation.
Alibaba plans stake buy in China's most popular microblogging service: paper
SHANGHAI (Reuters) – China's largest e-commerce company Alibaba Group is planning to buy a stake in Sina Corp's Weibo, the nation's most popular microblogging service, China Business News reported on Monday. Alibaba declined to comment on the report. Sources in Alibaba told the official newspaper, which is owned by the Shanghai municipal government, that investment negotiations between Alibaba and Sina have entered the final phase. Alibaba has valued Sina Weibo at around $3 billion, the sources said. …
China's Xi warns of unrest if graft not tackled
BEIJING (Reuters) R 11; If corruption is allowed to run wild in China then the ruling Communist Party risks major unrest and the collapse of its rule, state media on Monday quoted Communist Party chief Xi Jinping as saying at one of his first major meetings since taking the role. In unusually blunt language, Vice President Xi, who assumes Hu Jintao's job as head of state in March, said that graft was like "worms breeding in decaying matter" — an old Chinese phrase meaning "ruin befalls those who are weak". …
3-astronaut crew touches down in chilly Kazakhstan steppe after 125 days at space station
ALMATY, Kazakhstan – Three astronauts touched down in the dark, chilly expanses of central Kazakhstan onboard a Soyuz capsule Monday after a 125-day stay at the International Space Station.
Population of Africa's mountain gorillas rises
The population of Uganda's mountain gorillas has grown to 400, up from 302 in 2006, according to a census conducted last year, bringing the total number of mountain gorillas in Africa to 880 and giving hope to conservationists trying to save the critically endangered species.
Sunday, November 18, 2012
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