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...latest twist has been a doozy. On Monday, Barclays announced that China Development Bank (CDB) and Temasek, an investment group owned by the Singapore government, had agreed to invest $5 billion in Barclays now in support of its bid for ABN, and up to $18.6 billion if the takeover is successful...
...Despite that setback, RBS maintained its interest. Moreover, increasing the cash component in its latest offer has put RBS ahead, analysts contacted by TIME say. Hedge funds and speculators control a massive chunk of ABN - and pressure from hedge funds for it to increase shareholder value forced ABN into merger talks with Barclays in the first place. They may be keen to hold out for the higher price. "We do not expect the RBS consortium will need to increase its offer, and therefore remains the more likely victor," analysts at Bear, Stearns said in a note published Monday...
...Meanwhile, the Senate Health, Education, Labor and Pension Committee on Wednesday is scheduled to report out Senator Ted Kennedy's latest attempt at regulating tobacco products - he has tried and failed to pass similar bills four years running. This year's measure - which actually enjoys the support of Phillip Morris, the producer of Marlboro and the largest U.S. cigarette manufacturer - adds a controversial clause that would permit the use of cloves as a cigarette additive. Phillip Morris, a division of Altria, spent $5 billion in 2005 to buy a controlling stake in Sampoerna of Indonesia, a large maker of clove...
...latest police reports have taken into account the victim’s various retellings of the story and now claim that the incident in fact happened outside of Cambridge. Other details of the attack, including the surprisingly long amount of time it took the victim to realize that medical attention was needed, has also been questioned...
...brakes. Crank the tunes. Spin the rearview mirror ball, and start tripping. Far from Bill and Ted or Harold and Kumar, this is one of the tamer scenes from the latest film by Indonesian director Riri Riza. Three Days to Forever follows two cousins of the opposite sex on a 12-hour road trip from Jakarta to Yogyakarta. Between sharing a bag of weed and, later, a mattress, the protagonists also appear to have managed the extraordinary feat of slipping by the country's infamous censorship body...