Word: payment
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...There are significant drawbacks for companies taking this route, however. A Malaysian company accepting yuan as payment would have few reasons to hold the currency, which is not fully convertible. "Even if you could own the yuan through these swaps, what would you do with it?" asks Mark Matthews, a Hong Kong-based strategist for Fox-Pitt Kelton Securities. Yuan holders can invest their excess savings in Chinese securities, but only up to a point. The Chinese government said on Dec. 9 that it will triple the amount of domestic securities qualified foreign funds are allowed to purchase...
...complaint charges Merkin with violations of New York's Martin Act, for fraudulent conduct in connection with the sale of securities, and New York's Not-For-Profit Corporation Law. In the suit, Cuomo is seeking payment of damages and disgorgement of all fees by Merkin, restitution, and other equitable relief...
...hundreds of thousands of UAW retirees are probably going to get a lot less health coverage. The outlines of a plan are likely to be drawn up by Bloom, a pioneer in the voluntary employee beneficiary association (VEBA) approach. In a VEBA, the union agrees to accept a cash payment to fund a new health-care system that trustees administer, thus taking future liabilities off the company's books. That's what happened at Ford, where the company negotiated a deal in which half the VEBA will be funded in the form of stock rather than cash. GM may need...
...largest sellers of such contracts. Much of the credit insurance AIG sold was on mortgage bonds, which are backed by home loans. As more and more homeowners defaulted, many of those bonds plummeted in value, causing the holders of AIG's CDS contracts to request payment. AIG used money it had received from the government to pay off those contracts...
...From 2000 to 2008, he served on the board of the state-controlled firm Gazprom, Russia's largest company and the world's largest extractor of natural gas. The company has frequently become embroiled in payment disputes with Ukraine, which relies on Gazprom for its gas supply...