In case you missed these stories:
- Rubin to quit Citigroup after 10 years
Robert Rubin, the former US Treasury secretary, on Friday said he would leave Citigroup after a controversial decade on its board, as it emerged that the company was in advanced talks to sell a majority stake in its brokerage unit to Morgan Stanley.
- Lloyds in $350m US settlement
Lloyds TSB will pay $350m to settle US investigations after admitting it enabled Iranian and Sudanese clients to access the US banking system in violation of US sanctions, prosecutors said on Friday.
- Tremont forced to halt redemptions
Tremont Capital Management, one of the main companies which funnelled investor money to Bernard Madoff, has been forced to halt redemptions in several of its funds as investors have rushed to pull money out.
- Steel Partners to convert flagship fund
Steel Partners, the high profile activist hedge fund group run by Warren Lichtenstein, is looking to convert its flagship fund into a listed industrial holding company after facing a wave of redemption requests.