UPDATE 1-Big banks accused of interest rate-swap fixing in U.S. class action suit The class action lawsuit, filed in U.S. District Court in Manhattan, accuses Goldman Sachs Group, Bank of America Merrill Lynch, JPMorgan Chase, Citigroup, Credit Suisse Group, Barclays Plc, BNP Paribas SA, UBS, Deutsche Bank AG, and the Royal Bank of Scotland of colluding to prevent the trading of interest rate swaps on electronic exchanges, like the ones on which...
| By: Mike Kentz
Big banks accused of interest rate-swap fixing in class action suit NEW YORK, Nov 25- A class action lawsuit, filed Wednesday, accuses 10 of Wall Street's biggest banks and two trading platforms of conspiring to limit competition in the US $320 trillion market for interest rate swaps. The class action lawsuit, filed in U.S. District Court in Manhattan, accuses Goldman Sachs, Bank of America Merrill Lynch, JPMorgan Chase, Citigroup,...
| By: Mike Kentz
UPDATE 1-U.S. CFTC proposes new rules for automated trading NEW YORK, Nov 24- U.S. regulators on Tuesday proposed new rules to limit disruptions in the futures market from high-speed electronic trading by imposing risk controls and safeguards around the use of trading algorithms. The Commodity Futures Trading Commission voted unanimously in favor of proposing the rules, which would affect trading firms, clearing...
| By: John McCrank
UPDATE 1-UK's Deliveroo raises $100 mln amid food funding binge FRANKFURT, Nov 24- Deliveroo has raised another $100 million in venture financing, its third funding round this. premium restaurant home deliveries to Asia and the Middle East before rivals can outflank it. London- based Deliveroo is looking to distinguish itself in the crowded market for high-end food delivery, one of the hottest areas for start-up investment.
| By: Eric Auchard
UPDATE 2-China's HNA to buy $450 mln stake in Brazil airline Azul SAO PAULO/ BEIJING, Nov 24- China's HNA Group partnered with JetBlue founder David Neeleman on Tuesday, agreeing to buy a $450 million stake in Azul SA, Brazil's third-largest airline, and providing a cash cushion until a much-delayed initial public offering proceeds. The 23.7 percent stake in Azul SA will be a first foray into Latin America for HNA Group, an...
| By: Brad Haynes and Matthew Miller
Michigan, Fiat Chrysler reach deal on tax credits LANSING, Mich.— Fiat Chrysler will have to spend an additional $1 billion on Michigan facilities over 15 years to qualify for $1.9 billion in business tax credits under an agreement approved Tuesday by the state's economic development board. The deal, the second with a Detroit Three automaker this year, is designed to help Michigan get a better handle on billions...
Source: The Associated Press
| By: By DAVID EGGERT, Associated Press