Suspected metals fraud in China sparked claims of betrayal by both U.S. bank Citigroup Inc and trade house Mercuria over who would absorb about $270 million in exposure to financing deals, a London court heard on Wednesday.
The lead prosecutor on pending criminal cases against two former JPMorgan Chase & Co traders involved in the "London Whale" scandal is leaving Manhattan U.S. Attorney Preet Bharara's office to join a prominent defense firm, according to a statement from the firm viewed by Reuters in advance of its public release.
Herbalife Ltd won preliminary court approval of its $15 million settlement of class-action litigation accusing the maker of weight loss and nutritional products of being a "pyramid scheme" that misleads distributors about how much money they can make.
Japan's powerful industry ministry has summoned Shigehisa Takada, chairman and CEO of Takata Corp, to explain what the company is doing to resolve a crisis over potentially deadly air bags, two people with knowledge of the matter told Reuters.
