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Santander Bank Struggles to Meet Redemptions, Seeks to Halt Withdrawals
New York (HedgeCo.Net) – Spanish bank Santander is seeking to freeze redemptions after stating on Monday that they currently lack the liquidity to meet the rising demands for withdrawals. Investors in the bank’s flagsihip real-estate fund, the Santander Banif Inmobiliario […]
Miami CEO Dishes Out $60 Million to Thank Employees
New York (HedgeCo.Net) – While some top banking execs choose to blow millions on lavish area rugs or fancy, non functional commodes, Leonard Abess Jr. of Miami-based City National Bank had a better idea; give back to the people who […]
KBR and Halliburton to Pay $579 Million to Settle Charges
New York (HedgeCo.Net) – Halliburton and KBR, Inc. have settled with the Securities and Exchange Commission after allegations that KBR subsidiary Kellogg Brown & Root illegally obtained construction contracts in Nigeria by bribing government officials. KBR and Halliburton will pay […]
Obama Puts Foot Down, Caps Pay for Top Execs
New York (HedgeCo.Net) – As the Obama administration prepares to distribute the remaining $350 billion in the Troubled Asset Relief Program, a new requirement will ensure that the salaries of top executives be capped at $500,000 a year. “For top […]
Daniel Och Increases Stake in Own Hedge Fund
New York (HedgeCo.Net) – Daniel Och, CEO of New York-based hedge fund Och-Ziff Capital Management, is showing his confidence in his company, racking up another 1.6 million shares. Och shelled out about $7 million between November 13 and February 2, […]
