Bank of America settles fraud claims
Washington - Arabstoday
Bank of America settled securities fraud claims by a group of Countrywide Financial investors including the California Public Employees\' Retirement System (CalPers) that opted out of a $624 million (Dh2.29 billion) class-action settlement last year. A confidential settlement has been reached with all the defendants except KPMG, Countrywide\'s former auditor, lawyers for the plaintiffs said in a filing on Monday in federal court in Los Angeles. Countrywide, acquired by Bank of America in 2008, was accused of misleading shareholders about its finances and lending practices. The plaintiffs, which also include funds managed by BlackRock, T. Rowe Price Group and TIAA-CREF are the largest group of those who rejected the 2010 settlement, saying the terms were inadequate. Shirley Norton, a spokeswoman for Bank of America, and Blair Nicholas, the lead lawyer representing the investors, declined to comment on the settlement.
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France's Carrefour revamps operations
Paris - Emiratesvoice
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Beirut - NNA
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Microsoft to open 4 data centres
Paris - Emiratesvoice
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Taipei - Emiratesvoice
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Sanofi buys US haemophilia treatment
Paris - Emiratesvoice
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to 'eternal style' of late Alaia
Paris - Emiratesvoice
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
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