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French ex-trader must pay $6.7 billion for fraud (AP)

October 5th, 2010

Jerome Kerviel, center, followed by his lawyer Olivier Metzner, second right, arrives at the Paris courthouse, Tuesday Oct. 5, 2010. The Paris court will hand down a verdict in the case of the former French trader accused of masterminding one of history's biggest trading frauds and costing one of France's largest banks billions in losses. Kerviel, the 33-year-old former index futures trader at Societe Generale SA, risks five years in prison and a euro 375,000 ($513,000) fine on charges related to the claim that he covered up bets worth nearly euro 50 billion, or more than the bank was worth, between late 2007 and early 2008. (AP Photo/Laurent Cipriani)AP - Ex-trader Jerome Kerviel was convicted on all counts Tuesday in history’s biggest rogue trading scandal, sentenced to at least three years in prison and ordered to pay his…

Ex-French trader must pay $6.7 billion for fraud (AP)

October 5th, 2010

Jerome Kerviel, center, followed by his lawyer Olivier Metzner, second right, arrives at the Paris courthouse, Tuesday Oct. 5, 2010. The Paris court will hand down a verdict in the case of the former French trader accused of masterminding one of history's biggest trading frauds and costing one of France's largest banks billions in losses. Kerviel, the 33-year-old former index futures trader at Societe Generale SA, risks five years in prison and a euro 375,000 ($513,000) fine on charges related to the claim that he covered up bets worth nearly euro 50 billion, or more than the bank was worth, between late 2007 and early 2008. (AP Photo/Laurent Cipriani)AP - Former Societe Generale SA trader Jerome Kerviel was convicted on all counts Tuesday in one of history’s biggest trading frauds, sentenced to three years in jail and ordered…

Ex-Societe Generale trader must pay $6.7 billion (AP)

October 5th, 2010

ALTERNATE CROP TO PAR101 DATED OCT 5 2010 - Jerome Kerviel, followed by his lawyer Olivier Metzner, arrives at the Paris courthouse, Tuesday Oct. 5, 2010. The Paris court will hand down a verdict in the case of the former French trader accused of masterminding one of history's biggest trading frauds and costing one of France's largest banks billions in losses. Kerviel, the 33-year-old former index futures trader at Societe Generale SA, risks five years in prison and a euro 375,000 ($513,000) fine on charges related to the claim that he covered up bets worth nearly euro 50 billion, or more than the bank was worth, between late 2007 and early 2008. (AP Photo/Laurent Cipriani)AP - A Paris court ordered former Societe Generale SA trader Jerome Kerviel on Tuesday to pay the bank a mind-numbing euro4.9 billion ($6.7 billion) for his role in one…

Muslims donate nearly $1 billion to Pakistan (AP)

August 29th, 2010

A Pakistani woman displaced by flooding sits on a bed after taking refuge from rising waters on an embankment near the flooded Indus River, near Thatta, Sindh Province, southern Pakistan, Sunday, Aug. 29, 2010. (AP Photo/Kevin Frayer)AP - Muslim countries, organizations and individuals have pledged nearly $1 billion in cash and relief supplies to help Pakistan respond to the worst floods in the nation’s history, the…

Audit: U.S. can’t account for $8.7 billion in Iraq oil money (AP)

July 27th, 2010

CAPTION CORRECTION - CORRECTING LOCATION AND DETAILS OF BOMB ATTACKbr /<br /></a> Residents pray near the coffin of a victim who was killed in Monday?s bomb attack in Kerbala, before his burial at a cemetery in Najaf, 160 km (100 miles) south of Baghdad July 27, 2010. Two car bombs exploded near the holy Shi'ite city of Kerbala in southern Iraq on Monday, killing 19 mainly Shi'ite pilgrims and wounding 54, an Iraqi official said. The car bombs targeted Shi'ite pilgrims visiting Kerbala before the anniversary of Imam Mohammed al-Mehdi's birthday for which several hundred thousand people are expected this week. REUTERS/Ali Abu Shish (IRAQ) (IRAQ - Tags: CONFLICT)AP - The U.S. Defense Department is unable to properly account for over 95 percent of $9.1 billion in Iraqi oil money tapped by the U.S. for rebuilding the war…

BP replaces CEO Hayward, reports $17 billion loss (AP)

July 27th, 2010

BP Plc (British Petroleum) Executive Vice President for the Americas and Asia Robert Dudley speaks at the Boston College Chief Executives' Club in Boston, Massachusetts May 6, 2010. BP Plc is expected to install an American troubleshooter as chief executive in the next 24 hours, replacing Tony Hayward, who has come under fire for his handling of the worst oil spill in U.S. history. Dudley, the U.S. executive managing the response operation to the spill in the Gulf of Mexico, is poised to get the top job in a move that could soften U.S.-led attacks on the British oil major, sources close to the company say. Picture taken May 6, 2010. REUTERS/Adam Hunger/Files (UNITED STATES - Tags: DISASTER ENVIRONMENT ENERGY BUSINESS)AP - BP’s embattled Chief Executive Officer Tony Hayward will be replaced by American Robert Dudley on Oct. 1, the company said Tuesday, as it reported a record quarterly loss…

Farnborough Airshow orders top $25 billion (AP)

July 21st, 2010

Visitors walk pass aircraft on display at the Farnborough International Airshow, Farnborough, Wednesday, July 21, 2010. Aircraft orders at the Farnborough International Airshow this week have reached $25 billion, indicating a rapid recovery in the sector, and more are expected on Wednesday. (AP Photo/Sang Tan)AP - Canadian plane manufacturer Bombardier says Australian flag carrier Qantas Airways has ordered seven Q400 turboprop airliners in a deal worth $218 million at list prices.


Tags: billion, turboprop airliners,…

UN eyes private help in $100 billion climate aid (AP)

July 13th, 2010

AP - The U.N. chief says a panel of advisers that includes the prime ministers of Ethiopia and Norway is considering tapping private sources to fulfill a pledge at Copenhagen…

$2 billion sought to overhaul ruined Haiti schools (AP)

May 16th, 2010

A girl looks on at the Marie Esther catholic school in Port-au-Prince upon the visit of Luis Moreno, president of the Inter American Development Bank, BID, unseen, Friday, May 14, 2010.(AP Photo/Esteban Felix)AP - The Inter-American Development Bank is seeking $2 billion to expand access to Haitian schools.


Tags: Haiti, access, billion, schools, overhaul, sought, ruined, inter american development bank

Merkel: $29.6 billion in aid for Greece planned (AP)

May 3rd, 2010

German Chancellor Angela Merkel briefs the media after a special cabinet meeting to provide Greece with billions in aid as part of an EU bailout plan at the chancellery in Berlin, Monday, May 3, 2010. (AP Photo/Markus Schreiber)AP - Chancellor Angela Merkel’s Cabinet approved legislation on Monday that would give Greece euro22.4 billion ($29.6 billion) over three years as part of a wider bailout, as the German…

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