Word: dits
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...easily modified for Asian languages, cost-free and quickly being adopted by governments all over Asia . Bridges work better when the tolls are low. - By Michael Brunton It Won't Go Away Talks aimed at resolving a decade-long legal fight between France and U.S. prosecutors over Crédit Lyonnais collapsed. Allegations that the then state-owned bank acquired insurer Executive Life illegally could now be heard in a U.S. court...
...grating sound you hear is the gnashing of Australian teeth. Banking On A Happy Ending This week, time may finally run out for French billionaire François Pinault, the French government and some other top executives in their decade-long legal fight with U.S. prosecutors over Crédit Lyonnais. In the early 1990s, when the then-state-owned French bank acquired California insurer Executive Life, it allegedly did so in breach of U.S. law forbidding foreign banks from acquiring insurers. The two sides have been fighting ever since, and in October, France rejected a $585 million settlement because...
...with public confidence in the Prime Minister currently at 25%, down from 63% in October 2001 when he took office, Miller faces a tough selling job. - By Tadeusz L. Kucharski and Andrew Purvis Agreeing To Disagree A U.S. judge declared a mistrial in the case against former Crédit Suisse First Boston banker Frank Quattrone. Jurors failed to reach a verdict on charges that he interfered with federal investigations into alleged unfair allocations of shares to clients in 2000. Quattrone could face a second trial...
...Sole, Gucci's chief executive, who insists that he wasn't pressured into the decision. Pinault still has some big legal woes in California to worry about. First, there's a high-profile suit brought by the California Department of Insurance against him and French bank Crédit Lyonnais, alleging that Pinault in the early 1990s made just over $1 billion from an alleged fraud by Crédit Lyonnais involving a failing insurer, Executive Life, and then conspired to hide the true details. Pinault vigorously denies the charges. Second, there's a federal grand jury that's considering...
Looking to hire a bank? How would you feel about one that botched a friendly takeover, then paid 27% more than necessary for the acquisition? That's what France's Crédit Agricole did in its recent bid to acquire rival Crédit Lyonnais, to create one of Europe's Top 10 banks, with more than €330 billion in assets under management. Crédit Agricole, a network of mostly rural savings banks, was for almost two years the preferred candidate to take over the government's 10.9% stake in Crédit Lyonnais. But talks bogged...