Federal judge rejects Citigroup's settlement

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Source: Bloomberg
© Scanpix/Reuters

Federal judge refused Citigroup Inc's $285 m settlement with US Securities and Exchange (SEC) saying there were not provided enough facts to support it. Judge Jed Rakoff rejected the agreement and appointed a trial day. Rakoff also criticized SEC's way of permitting banks to settle without denying or admitting liability. Last month Citigroup agreed to settlement after being accused for misleading investors regarding CDOs linked to subprime mortgage securities.

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Tue, 29 Nov 2011 10:33:02 GMT

Crude oil futures decrease

Crude oil futures decreased after a yesterday's rapid growth that pushed prices above USD100-a-barrel. On the New York Mercantile Exchange crude futures for January delivery cost USD97.74 a barrel at the early European trade, losing 0.48%. Analysts say the fall in oil demand was caused by high investors' attention to the today's summit of the EU finance ministers.

Tue, 29 Nov 2011 10:48:28 GMT

UK home prices increased in November

UK home prices climbed in November showing the highest increase since September 2010. The index shows the property prices increased by 0.4% in November from previous month and rose by 1.6% since November last year.  Experts say the reason is lack of supply in the real estate sector coupled with low interest rates. However, despite slight increase in house prices the overall outlook on British

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