Opening Bell: 12.22.09
Hack At Citi Probed; Bank Denies Breach (WSJ)
The Federal Bureau of Investigation is probing a computer-security breach targeting Citigroup Inc. that resulted in a theft of tens of millions of dollars by computer hackers who appear linked to a Russian cyber gang, according to government officials.
Collapsed Lehman pays out big bonuses (FT)
A judge overseeing Lehman's US bankruptcy in New York last week approved an extra $50m (€35m) in bonus pay-outs to some 230 derivatives traders working to unwind the dead bank's $10bn portfolio. The pay-outs come as bankers in the US and Europe face public anger over probable multimillion-dollar bonuses at the end of this year and, in Britain and France, additional taxes on the pay-outs.
Dubai World to Present 'Standstill' in Early January (Bloomberg)
Dubai World will present a standstill offer to banks in early January as the state-owned company aims to restructure $22 billion of debt, said three bankers who attended a presentation on the matter yesterday.
Banks With Political Ties Got Bailouts, Study Shows (Reuters)
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Bruce Willis Takes 3.3% Stake in French Vodka Firm (CNBC)
Willis, already the advertising face of Belvedere's Sobieski vodka brand, will take a 3.3 percent stake in the French company to help drive its marketing strategy. Belvedere's statement on Tuesday lifted the company's shares as much as 6.6 percent to 34 euros in early trading, giving it a market value of around 85 million euros ($122 million).