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United States/Americas

Proxy advisers split backing in battle for Sotheby's board
By Reuters
04/24/2014 1:06:06 PM ET

BOSTON (Reuters)—Two prominent proxy advisory firms on Thursday [April 24] split their recommendations on how investors should vote in a battle between auction house Sotheby's and activist investor Daniel Loeb. Institutional Shareholder Services backed two of Loeb's candidates while Glass Lewis & Company recommended that shareholders vote for the company's candidates.
Ackman to pay Herbalife whistleblowers' legal fees, not lost pay
By Reuters
04/24/2014 6:47:51 PM ET

BOSTON (Reuters)—Activist investor William Ackman, who is betting more than $1 billion that Herbalife is a pyramid scheme, will cover legal fees and damages for whistleblowers who have spoken out against the company, but not lost wages if they lose their jobs. Ackman's $13 billion hedge fund Pershing Square Capital Management had agreed to pay one whistleblower as much as $3.
Europe

Goldman, JPMorgan seek dismissal of aluminum price-fixing lawsuits
By Reuters
04/23/2014 2:44:02 PM ET

Editor's note: This version of the story adds comments from plaintiffs' lawyer, paragraph 4-5 and 10. NEW YORK (Reuters)—Goldman Sachs Group Inc.
Habas sues UK's Duet, claims breach of contract on NSI shares
By Reuters
04/23/2014 2:07:35 PM ET

JERUSALEM (Reuters)—The Dutch unit of Israel's Habas Investments filed a lawsuit against British private equity and hedge fund Duet Asset Management, alleging breach of contract last year to buy shares of Nieuwe Steen Investments (NSI). As part of debt settlement talks, Duet last August offered to buy its Dutch-based unit's Habas Tulip's 20 percent stake in NSI for €57 million ($78.
Asia/Australia

Barclays joins retreat from commodities as new rules bite
By Reuters
04/22/2014 2:00:53 PM ET

LONDON (Reuters)—Barclays will quit most of its commodities trading businesses, joining a broader retreat by banks as profits tumble in the face of tougher regulation. The British bank's exit means three of the top five banks in commodities have significantly reduced or shuttered their natural resource trading arms since last summer, with profits hit by regulatory demands for lenders to hold more capital to shield them against any problems.
Trafigura steps out of the shadows in academic case study
By Reuters
04/17/2014 4:05:54 PM ET

Editor's note: This version of the story corrects the spelling of Andrew Gowers' first name in the 4th paragraph. NEW YORK (Reuters)—A detailed new case study scrutinizing the risk-management Swiss-based Trafigura is the latest effort to "demystify" the once-secretive commodity trading industry, just big merchants seek to fill a void being left by Wall Street banks.
International

Habas sues UK's Duet, claims breach of contract on NSI shares
By Reuters
04/23/2014 2:07:35 PM ET

JERUSALEM (Reuters)—The Dutch unit of Israel's Habas Investments filed a lawsuit against British private equity and hedge fund Duet Asset Management, alleging breach of contract last year to buy shares of Nieuwe Steen Investments (NSI). As part of debt settlement talks, Duet last August offered to buy its Dutch-based unit's Habas Tulip's 20 percent stake in NSI for €57 million ($78.
Barclays joins retreat from commodities as new rules bite
By Reuters
04/22/2014 2:00:53 PM ET

LONDON (Reuters)—Barclays will quit most of its commodities trading businesses, joining a broader retreat by banks as profits tumble in the face of tougher regulation. The British bank's exit means three of the top five banks in commodities have significantly reduced or shuttered their natural resource trading arms since last summer, with profits hit by regulatory demands for lenders to hold more capital to shield them against any problems.






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