US hedge fund billionaire sued
US regulators sued hedge fund billionaire Philip
Falcone for fraud Wednesday, accusing him of taking $113 million
from a fund to pay his taxes. The Securities and Exchange Commission
(SEC) said Falcone, who raked in billions betting against packaged
mortgage securities ahead of the US real-estate crash, took clients’
money from funds run by his Harbinger Capital Partners to pay his
personal taxes.
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All eyes on tense ‘euro crunch summit’
BELGIUM: EU leaders debate “a big leap forward”
to strengthen their union and save the euro at a two-day summit
starting Thursday, but divisions may scuttle efforts to bring the
currency back from the brink. European Union heads of state and
government gather from 3:00 pm (1300 GMT) as the debt crisis, now in
its third year, widened this week.
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Clinton hails Egypt vote but warns it’s ‘just the beginning’
FINLAND: US Secretary of State Hillary Clinton
on Wednesday congratulated Egypt's newly elected Islamist president,
but cautioned that the election was just a first step towards true
democracy.
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