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U.S. Will 'Soon Get Messy' Again: Roubini

American Flag

The eleventh hour deal reached to avert the fiscal cliff in the U.S. merely masks the bleak long-term outlook for the country, Nouriel Roubini said in an opinion piece published in the Financial Times newspaper on Thursday.



Bernie Madoff

Ex-Madoff associate avoids prison

A former associate of Bernard Madoff avoided prison on Thursday for his role in perpetuating the fraudster’s massive Ponzi scheme because of his extensive cooperation with prosecutors.

Citi Building Sign

Citigroup ordered to pay Mercuria $14m

Citigroup has been ordered to pay commodities merchant Mercuria almost $14m as part of prolonged legal wrangling over Chinese metals financing deals hit by suspected fraud, a report on Wednesday said.