Citigroup to pay $285 mln to settle SEC charges

Citigroup to pay $285 mln to settle SEC charges

U.S. Securities and Exchange Commission (SEC) announced Wednesday that Citigroup agreed to pay 285 million U.S. dollars to settle charges by SEC against its principal U.S. broker-dealer subsidiary for misleading investors about a one-billion-dollar collateralized debt obligation (CDO).

Under the settlement, Citigroup was required to pay 160 million dollars in disgorgement plus 30 million dollars in pre-judgement interest and a 95-million-dollar penalty for a total of 285 million dollars that would be returned to investors, said the SEC.Super Bowl jerseys

The SEC alleged that Citigroup Global Markets structured and marketed a CDO, which was tied to the U.S. housing market in which Citigroup bet against investors as the housing market showed signs of distress. The CDO defaulted within months, leaving investors with losses while Citigroup made 160 million dollars in fees and trading profits.

"Investors were not informed that Citigroup had decided to bet against them and had helped choose the assets that would determine who won or lost,There are a number of different types of NFL jerseys. Authentic NFL jerseys are generally the most expensive and can be the most sought after, nfl jerseys but will be of good quality." said Robert Khuzami, director of the SEC division of enforcement.Broncos JerseysVikings Jerseys

The settlement also required remedial action by Citigroup in its review and approval of offerings of certain mortgage-related securities, the SEC added.

Thailand Takes a Risk to Ease Flood

Thailand Takes a Risk to Ease Flood
Thai officials beat a retreat in their bid to prevent floodwaters from pouring into Bangkok on Thursday, instead adopting a potentially risky new plan for a controlled release of the waters through the city's wholesale silk tiecanals and eastern suburbs.
With massive amounts of water bearing down on the city and worries driving down stock prices in Bangkok and Japan—the biggest foreign investor in polo ralph lauren T-shirtThailand—Prime Minister Yingluck Shinawatra told reporters there was no option left but to let some floodwater drain through parts of the capital to help free up a flood-stricken industrial belt north of the city.
"We must allow the water to flow through," Ms. Yingluck said. "Very little has been driven to the sea."
Bangkok Gov. Sukhumbhand Paribatra, from the rival Democrat Party, signed off on the radical solution to the worst floods the country has seen in half a century, which have killed at least 320 people since late July. Mr. Sukhumbhand earlier challenged statements from the national government's flood-response team, urging Bangkoklacoste t-shirts residents to listen to him instead. Relations between city and national leaders have been fraught since a hard-fought election battle brought Ms. Yingluck to power in July.
Bangkok isjuicy couture suits wholesale still mostly dry, but some suburbs are submerged and threaten to inundate the capital.
If the plan works, it could provide some respite for hundreds of businesses affected by the floods, many of them Japanese. Sony Corp. Thursday joinedwholesale abercrombie jackets a lengthening list of big-name Japanese manufacturers like Honda Motor Co. and Toyota Motor Corp. in saying Thailand's extreme flooding has derailed production, closing down either plants or key parts suppliers in recent days.

138 dead after major earthquake strikes Turkey

138 dead after major earthquake strikes Turkey
Turkish Prime Minister Recep Tayyip Erdogan said 138 people are dead and 350 people injured in the wake of Sunday's earthquake -- the most powerful to strike the country in more than a decade.
Ninety-three were killed in Van, while 45 were killed in Ercis, he said, adding that those numbers are expected to rise.
Rescue teams will work through the night to save people who are still trapped in the rubble, Erdogan told reporters.
Citizens werejewelry manufacturers using flashlights and shovels as they clambered over collapsed buildings looking for survivors.
The U.S. Geological Survey initially reported the quake had a magnitude of 7.3, then revised it down to 7.2.
Roughly 20 aftershocks rattled the region, one of the nation's poorest. The largest had a magnitude of 6.0.
Erdogan said 55 buildings collapsed in Ercis on the northwholesale crystal jewelryshore of Lake Van, while the Turkish Red Crescent had said earlier that some 25 apartment buildings and a student dormitory collapsed in the town.
Local rescuers took many wounded people out of the dormitory, the Red Crescent statement said, without saying exactly how many.
A health services building alsofashion earrings collapsed, along with part of a hospital, CNN sister network CNN Turk reported. At least two doctors were thought to be in the rubble of the health services building, the network said. The injured were being treated in the hospital's garden.
"People are really scared," saidwholesale jewelry suppliesCNN Turk reporter Nevsin Mengu. "The survivors are now trying to survive the cold weather."

Details of Qaddafi's Killing in Dispute

Details of Qaddafi's Killing in Dispute, as Libya Pledges Investigation
The world may agree on the fact of Muammar Qaddafi's death -- his body lies rotting in a store freezer -- but the chain of events late last week that led to the ousted Libyan leader's death remains very much in dispute.
Numerous videos have surfaced seeming to show Qaddafi alive best headphonesThursday moments after his capture and moments before he was killed. He is said to have been dragged by rebel forces from a drain pipe following a NATO airstrike. In a new video he can bee seen wiping blood from his eye in a daze, as rebels surround him firing automatic weapons into the air and shouting, "Allahu Akbar," God is great.
Four days later, Libyans were still lining up to see the shirtless and bloodied corpse of Qaddafi and his son. Spectators, many wearing face masks to blockmonsters headphone the smell of decomposing flesh, were finally stopped from entering the makeshift morgue, after Qaddafi’s body had been shuttled around the city.
Libya's new leaders still contend that Qaddafi died in a crossfire, but new video shows him in the final moments before his death being paraded around like a trophy of war and then with a gunshot wound to the temple.
"We have indeed requested, basedwholesale headphoneson international demands, that the death of Qaddafi be investigated as he died during a clash and crossfire with his supporters, said Mustafa Abdul-Jalil, Libya's interim leader.
Several new unauthenticated videos have appeared on the Internet made by Libyans who say they fired the final shots -- execution style. In one, an unidentifiedmonster beats man holds up a bloodied shirt he claims he took from Qaddafi and a gold ring that he says he took off the dead dictator's hand.

Argentine president wins landslide re-election

Argentine president wins landslide re-election

Argentine President Cristina Fernandez was re-elected in a landslide Sunday, winning with the widest victory margin in the country's history as voters were mobilized by popular programs that spread the wealth of a booming economy.

Fernandez had 53 percent of the votes after 24 percent of polling stations had been tallied nationwide, while her nearest challenger got just 17 percent. Interior Minister Florencio Randazzo predicted the president's vote share would rise, saying very few of the ballots in her party's stronghold of Buenos Aires province, the country's largest,water dispenser had been counted.Water pump

Thousands of the populist new scalesleader's supporters crowded into the capital's historic Plaza de Mayo in a jubilant, flag-waving celebration.

Fernandez is Latin America's first woman to be re-elected as president, but the victory was personally bittersweet — the first without her husband and predecessor, Nestor Kirchner, who died of a heart attack last Oct. 27.

Her voice almost broke as she spoke about their shared legacy with a mixture of pride and sorrow after voting in his hometown, the remote Patagonian city of Rio Gallegos. "In this world where they have criticized us so forcefully, all this makes me feel very proud, that we're on the right track,industrial shipping scales" Fernandez said. Kirchner "would be very content."

Fernandez appeared to have won a larger share of votes than any president since Argentina's democracy was restored in 1983, when Raul Alfonsin was elected with 52 percent.ultrasonic cleaning machine Her margin over Gov. Hermes Binner and five other candidates was wider even than the 1973 victory margin of her strongman hero, Juan Domingo Peron.