To repay the amount, the company would sell common stocks worth $10.4 billion and also raise $1.35 billion through its issuance to some employees instead of cash as part of their compensation this year, among others.
This effectively freezes the legal fight in the courts until Wednesday noon (2130 IST) following Wells Fargo and Wachovia announcement of $15 billion deal which bested the earlier deal with Citibank. Meanwhile, the Wall Street Journal said discussions to resolve the mess are continuing, with the most likely scenario resulting in Citigroup buying branches from Wachovia in the Northeast and mid-Atlantic region.
The Indian operations of will commence by October 2006 with over 500 employees in the first phase.
US-based financial services major Wells Fargo, which has set up an information technology and business process outsourcing facility in Hyderabad, is looking at locating back office processes, other than call centres, in India.
World No 2 Rory McIlroy, back at the scene of his first PGA Tour win, fired a five-under 67 at Quail Hollow on Thursday for a seven-way share of the first-round lead in the Wells Fargo Championship in Charlotte, North Carolina.
Wachovia's global operations were taken over by Wells Fargo last year and the two banks are in the process of integrating their operations.
Rory McIlroy won for the second time in three weeks and shattered the tournament record when he clinched a seven-stroke victory at the $7.1 million Wells Fargo Championship on Sunday.
'All commercial and banking transactions happen in South Mumbai.'
MeitY is in discussions with global Fortune 500 and Fortune 1000 companies, mid-tier firms, and state government officials on a three-pronged approach to setting up new GCCs in India.
"This individual has been terminated from Well Fargo," the firm said in a statement.
Neo banks, along with mid-sized banks, are establishing global capability centres (GCCs) in India, mirroring the expansion strategies of larger global counterparts. This trend is being seen as the next major wave in the country's banking, financial services, and insurance (BFSI) sector.
The US government, under its $700-billion bailout plan, has purchased shares in 30 American banks for a total of over $150 billion, half of which have gone into Citigroup, JPMorgan Chase and Wells Fargo.
The accused had urinated on his co-passenger, a woman in her seventies, allegedly in an inebriated condition, in the business class of the Air India flight on November 26 last year.
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
Top ten banks of the world includes 4 from the USA, 4 from China and one each from the UK and Australia
Wachovia Bank NA will pay $160 million to the US authorities to settle allegations related to its anti-money laundering compliance programme.
Let's meet the illustrious winners of India Abroad awards 2010
But cautions about some damage in short term, next three quarters may see high volatility.
Rickie Fowler delivered on his vast potential by claiming his first PGA Tour win at the Wells Fargo championship with a birdie on the first hole of a playoff against Briton Rory McIlroy and fellow American DA Points at Quail Hollow on Sunday.
Less than we used to --but we like some banks better than before.
This is clearly the worst financial problem we've had since the Great Depression," as Joseph Stiglitz told a radio show in New Zealand on Wednesday morning.
Bollywood impresario Vijay Taneja was sentenced to 84 months in jail followed by three years of supervised release, and ordered to pay $33 million in restitution to four financial organisations, on charges of money laundering. Taneja, under the banner of Elite Entertainment, has been promoting Bollywood celebrities like Shah Rukh Khan and Aishwarya Rai for shows across the United States.
Jaswinder Singh Sekhon, 27, now a Finnish national, used 200 stolen credit card numbers to defraud Wells Fargo Bank of $ 500,000.
Chandrasekaran also said that "We fell short of addressing this situation the way we should have."
If elected, Hillary Clinton would become the first women president of the US.
'Performance pressure elicits cheating when employees feel threatened.'
Daryan and Daryll Warner, sons of former FIFA Vice President Jack Warner, and their associates deposited more than $600,000 in cash at bank branches in New York, Miami and Las Vegas in the second half of 2011, according to a 2012 complaint in US District Court in New York that was unsealed on Wednesday.
However, WhatsApp exchanges between the woman's daughter and Mishra that emerged on Friday showed the family had returned money.
India's top golfer Anirban Lahiri has tested positive for COVID-19, ruling him out of at least a couple of events on the PGA Tour.
The Adani group will have understood the fragility of investor trust in the group. The group needs to improve transparency including in areas like share-ownership (which they have long and mistakenly believed can be side-stepped) and related-party transactions, among others, Amit Tandon and Hetal Dalal point out.
The Nasdaq Composite hit a high of 5,143.316.
Chinese companies show their prowess among the world's top companies.
IIM Lucknow has concluded its 2020-21 final placements.
Conventional wisdom is that when the US sneezes, emerging markets like India catch a cold. And yet the Indian stock market went up last year, points out Debashish Basu.
From India, Reliance Industries is the only one in the overall top-200 list and is followed by HDFC Bank at 209th, ONGC at 220th, Indian Oil at 288th and HDFC Ltd at 332nd place.
A Delhi court on Saturday sent Shankar Mishra, accused of urinating on a woman co-passenger on an Air India flight, to judicial remand for 14 days while rejecting a plea by police for his custody.
Tiger Woods has registered to play in June's US Open at Oakmont Country Club in Pennsylvania but has not set a timetable for his return to the PGA Tour.
Of the 1,145 offers made this year, consulting firms made up 34 per cent, followed by banking, financial services and insurance, pharma/healthcare, IT/ITeS and FMCG/retail.
Sandeep Kaur had pleaded guilty to four counts of bank robberies earlier this year. Ritu Jha/Rediff.com reports from California.
Sandeep Kaur could face up to 20 years for each robbery.
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