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PWC to face MF Global lawsuit

Gavel

A federal judge rejected PricewaterhouseCoopers' bid to dismiss a $1bn lawsuit accusing the accounting firm of professional malpractice for helping cause the October 2011 bankruptcy of MF Global Holdings, a brokerage once run by former New Jersey Governor Jon Corzine.

One-time billionaire's $800m Citigroup bid rejected

Gavel

A federal appeals court rejected a one-time billionaire's bid to revive his $800m lawsuit accusing Citigroup of fraudulently hiding its exposure to subprime and other toxic mortgages, inducing him to hold on to shares he otherwise would have sold.

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ANZ continues retreat from Asian wealth management

Australia & New Zealand Banking Group’s sale of businesses in five Asian markets to DBS Group Holdings offers the latest sign of consolidation in the region’s highly competitive wealth industry, which has already seen a retreat by European players like Barclays and Societe Generale.