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United States/Americas

ISS recommends votes for 2 Loeb nominees to Sotheby's board
By Reuters
04/24/2014 1:06:06 PM ET

BOSTON (Reuters)—A prominent investor shareholder advisory firm recommended that Sotheby's investors should vote for two of the three board candidates suggested by activist investor Daniel Loeb. Institutional Shareholder Services sent a report to clients early on Thursday morning [April 24] that backs Loeb, an avid art collector who has been pushing the auction house to cut costs and become more competitive since last year.
Herbalife punished 600 distributors for medical claims: report
By Reuters
04/24/2014 12:53:31 PM ET

WASHINGTON (Reuters)—Herbalife, a weight loss and nutrition company being investigated for allegations of running a pyramid scheme, disciplined hundreds of distributors last year for making unsubstantiated medical claims about its products, ABC News reported on Wednesday [April 23]. The network said the company disclosed the internal figures after an ABC News investigation found what it called "numerous examples of distributors boasting to potential customers that the company's products helped treat maladies ranging from diabetes to heart disease.
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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