James Giddens, the trustee liquidating MF Global, said a dispute with the collapsed broker’s UK affiliate over some $700 million will have to be settled by an English court. Giddens had asserted that money currently at the UK affiliate belongs to US customers; the affiliate has said it belongs to its own clients.
U B Splitting
UBS’s Ehren Stenzler, co-head of US M&A, said he is leaving the bank.
The New York Federal Reserve said it has asked eight investment banks to bid on risky assets from its Maiden Lane III portfolio, created during its 2008 bailout of AIG.
German auto firm Audi, owned by Volkswagen, said it will buy Ducati, the Italian motorcycle maker.
Larry v. Larry
During the companies’ intellectual-property trial, Google CEO Larry Page said he didn’t remember an internal e-mail that Larry Ellison’s Oracle presented as evidence that Google knew it needed to pay for Oracle technology used in its mobile-phone software.
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Ehren Stenzler, New York Federal Reserve, UK affiliate, MF Global, UK, Giddens, Google