Correspondent, New York
Megan's Feed
Aug 21, 2014

New York, California reap mini-bonanza from Bank of America settlement

NEW YORK/LOS ANGELES, Aug 21 (Reuters) – A clutch of states
including California, New York and Illinois will share in a
mini-bonanza from the $16.65 billion settlement agreed by Bank
of America Corp on Thursday.

The settlement announced by the U.S. Department of Justice
calls for the second-largest U.S. bank to pay a $9.65 billion
cash penalty on charges that it misled investors into buying
troubled mortgage-backed securities, and provide $7 billion of
relief to struggling homeowners and communities.

Aug 19, 2014

In riot-hit Ferguson, traffic fines boost tension and budget

NEW YORK (Reuters) – When calm and order is finally restored to Ferguson, Missouri, the city’s leaders may find little room to maneuver to resolve an issue that has long inflamed racial tensions: traffic tickets.

On the surface it would seem an easy fix for the mainly white police force simply to adopt a less aggressive policy on traffic stops, which overwhelmingly and disproportionately snare black motorists.

Aug 19, 2014

Insight – In riot-hit Ferguson, traffic fines boost tension and budget

NEW YORK (Reuters) – When calm and order is finally restored to Ferguson, Missouri, the city’s leaders may find little room to manoeuvre to resolve an issue that has long inflamed racial tensions: traffic tickets.

On the surface it would seem an easy fix for the mainly white police force simply to adopt a less aggressive policy on traffic stops, which overwhelmingly and disproportionately snare black motorists.

Jul 31, 2014

European court rules Russia must pay Yukos shareholders 1.9 bln euros

MOSCOW/STRASBOURG, July 31 (Reuters) – Europe’s top human
rights court awarded shareholders in Yukos 1.9 billion euros
($2.6 billion) in damages on Thursday, a new blow to Russia days
after some of the former oil company’s shareholders won $50
billion in The Hague.

The Strasbourg-based court found that Russia had failed to
“strike a fair balance” in its treatment of Yukos, once run by
former oligarch Mikhail Khodorkovsky, and had forced the company
to pay excessive fees.

Jul 30, 2014

Russia’s VTB looks to other markets as U.S. tap shuts

MOSCOW, July 30 (Reuters) – VTB, Russia’s second-largest
bank by assets, said it is ready to borrow in other
currencies and markets after sanctions imposed by the United
States thwarted its ability to access dollar financing, a move
it called “politically motivated” and “unjust”.

The United States on Tuesday imposed sanctions on VTB, Bank
of Moscow and Russian Agriculture Bank over Moscow’s support for
rebels in Ukraine, prohibiting U.S. citizens or companies from
dealing with debt carrying maturities longer than 90 days, or
with new equity.

Jul 29, 2014

Nevzlin not likely to back down in Yukos fight with Russia

MOSCOW/TEL AVIV, July 29 (Reuters) – Former Yukos executive
and top shareholder Leonid Nevzlin will face an uphill struggle
getting any of the money he lost when the Russian oil giant was
seized and nationalised after falling foul of the Kremlin.

But based on past performance during the around 10 years the
case has played out, the 54-year-old will not give up.

Jul 29, 2014

Court orders Russia to pay $50 billion for seizing Yukos assets

MOSCOW/LONDON/AMSTERDAM (Reuters) – An international arbitration court ruled on Monday that Russia must pay $50 billion for expropriating the assets of Yukos, the former oil giant whose ex-owner Mikhail Khodorkovsky fell foul of the Kremlin.

Finding that Russian authorities had subjected Yukos to politically-motivated attacks, the panel made an award to a group of former Yukos shareholders that equates to more than half the entire fund Moscow has set aside to cover budget holes.

Jul 28, 2014

Hague court orders Russia to pay $50 bln in Yukos case

MOSCOW, July 28 (Reuters) – The Hague’s arbitration court
ruled on Monday that Russia must pay a group of shareholders in
defunct oil giant Yukos around $50 billion for expropriating its
assets, a big hit for a country teetering on the brink of
recession.

The Hague court said it had awarded shareholders in the GML
group just under half of their $114 billion claim, going some
way to covering the money they lost when the Kremlin seized
Yukos, once controlled by Mikhail Khodorkovsky.

Jul 24, 2014

EU sanctions on Russian banks would hit economy, business

MOSCOW, July 24 (Reuters) – Russia’s state-controlled banks
would have to turn to the state, domestic borrowers or new
regions such as Asia if EU sanctions shut off investment,
hurting their ability to lend to local businesses and further
damaging the country’s fragile economy.

Under measures being considered by European Union
governments in response to the Ukraine crisis, European
investors would be banned from buying new debt or shares of
banks owned 50 percent or more by the state.

Jul 21, 2014

Russian markets feel heat from Ukraine crisis, extend slide

MOSCOW, July 21 (Reuters) – Russian shares slid on Monday to
a two-month low as Moscow came under fierce international
pressure over the downing of Malaysia Airlines flight MH17 and
European governments threatened to follow the United States in
widening economic sanctions.

Monday’s losses extended a near-8 percent slump last week
provoked by Washington’s imposition of sanctions on large
Russian domestic companies, including oil major Rosneft which
again fell sharply on Monday.