A timeline of the tax evasion probe against Swiss bank UBSAlong with the 50 million Swiss francs (about $45 million) that UBS AG lost during the financial crisis, the bank’s admitted assistance to U.S. tax evaders seriously damaged the financial powerhouse’s reputation. Here is a timeline of the most important developments: Bharti, MTN yet to finalise merger dealNEW DELHI - Indian telecom major Bharti Airtel and South African telecom giant MTN are yet to finalise their much-awaited merger deal, a senior official said here Friday. ‘Polluting’ vehicles to go off Kolkata roads SaturdayKOLKATA - Kolkata commuters are likely to face a harrowing time with all commercial vehicles older than 15 years going off the roads from Saturday following the West Bengal government’s decision to implement the high court’s ban on these vehicles. Federal monitor of Detroit police resigns; judge cites ties to ex-Mayor Kwame KilpatrickDETROIT — A federal judge on Friday accepted the resignation of a court-appointed Detroit Police Department monitor, saying the monitor had inappropriate contact with ex-Mayor Kwame Kilpatrick that included personal meetings and discussions about the department. CIT Group amends terms of debt offer, repeats that bankruptcy filing possible if unsuccessfulNEW YORK — Small-business lender CIT Group Inc. said Friday it has sweetened some terms of a buyback offer for $1 billion of debt and repeated that it may have to seek bankruptcy protection if enough noteholders don’t agree to it. Denied federal bailout, CIT taps $3B private rescue; may be strategy for other troubled banksNEW YORK — CIT Group Inc. said in a regulatory filing Tuesday that it might have to file for bankruptcy protection if not enough bondholders participate in a recently launched debt exchange. Denied federal bailout, CIT taps private rescue; confirms $3 billion financing dealNEW YORK — Commercial lender CIT Group Inc. confirmed late Monday that it has secured a $3 billion bailout from its bondholders, averting an immediate bankruptcy filing and giving the company some breathing room to restructure its debt. Mukherjee sets July 31 target to complete budget processNEW DELHI - Finance Minister Pranab Mukherjee Wednesday said reviving India’s economic growth will be his top priority in the coming months and assured every step to complete the budget process for this fiscal by July 31. Man pleads guilty to e-mailing threat against Obama, Minneapolis mall; could face 1½ yearsDENVER — A Texas man has pleaded guilty to threatening to kill President Barack Obama and blow up the Mall of America in Minneapolis. Samajwadi Party appoints Sanjay Dutt as General SecretaryNEW DELHI - The Samajwadi party on Thursday appointed Bollywood actor-turned-politician Sanjay Dutt as its National General Secretary. |
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