Swedbank, one of Swedenâ??s biggest banks, on Friday reported worse-than-expected second quarter losses and announced plans to cut 16 per cent of its workforce, amid spiralling losses in the troubled Baltic states.
Terra Firma plans bond issue to pay EMI debt (Headlines)
Blackstone is advising its rival Terra Firma on a plan to issue high-yield bonds to repay Citigroupâ??s £2.6bn of loans to music group EMI, one of the US bankâ??s biggest single exposures.
Ahmed Hamad Algosaibi and Brothers Company (AHAB), one of Saudi Arabiaâ??s most powerful family-owned companies, has filed a lawsuit in which it accuses Maan Al-Sanea, the Saudi billionaire, of â??massive fraudâ?� and alleges that he â??misappropriated approximately $10bn as a result of his fraudsâ?�.