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Citigroup in race to repay bail-out funds

Citigroup is racing against the clock to convince US authorities that it be allowed to repay $20bn of bail-out funds, with insiders and regulators arguing that unless the bank acts in the next 10 days it will have to wait for more than a month

European banks to face capital demands

Big European banks are likely to be forced to cut their balance sheets or use a large proportion of their profits to build capital, according to an analysis of a proposed regulatory limit on total bank borrowing

Bankers to face tighter rules on IPOs

Investment banks underwriting initial public offerings in Europe are preparing to face tougher standards after a ruling by a Dutch court that expands the liability of banks beyond accuracy of information to a wider ‘duty of care’

Sovereign funds pressured to invest locally

Some Middle East SWFs are concerned they could be required to do more “national service” to support local ailing institutions and companies

Kuwait fund sells $4bn Citi stake

Kuwait’s sovereign wealth fund has its stake in Citigroup for $4.1bn, 18 months after buying preferred shares in the US bank as part of a rescue package

Shanks calls for higher bid after £535m Carlyle offer

The unsolicited takeover approach from the US private equity house, which is being supported by the waste management company’s biggest shareholder, represents a 50% premium to the closing price

Lex: Buffett on sale

Warren Buffett’s Berkshire Hathaway can be had for 1.18 times book value, which – depending on how one looks at it – is cheap or expensive.

Legal investor Alvaro to float on Aim

The UK company, set up to invest money in legal cases and headed by a City lawyer, will this week continue a book-building exercise to raise £50m from institutions

LaSalle warns of dangers in property market

Returning investor confidence has underpinned a property recovery, although a new report from the asset management group warns that risks remain in the US and UK markets

RBS gives up Four Seasons vote rights

Royal Bank of Scotland, which is set to become the single largest shareholder in Four Seasons Healthcare, has given up rights to influence the heavily-indebted UK care home operator

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