The trial of a former Bayerische Landesbank manager over what prosecutors say were $44 million in bribes to facilitate the sale of the bank’s stake in Formula One racing may shed light on business practices at the world’s most- watched racing series.
Les Hinton was one of Rupert Murdoch’s closest associates for half a century. His role at the top of News Corp. makes him the focus of British lawmakers’ questions about two scandals at his former employer.
PMI Group Inc., the mortgage insurer that was ordered in August to stop writing policies, said a unit that sells such coverage was seized by Arizona authorities and will pay out claims at 50 percent starting tomorrow.
New York developer Harry Macklowe won a jury verdict that his company doesn’t owe Carl Icahn’s Meadow Star LLC $60 million for backing away from a 2006 bid to buy six New York skyscrapers from Reckson Associates Realty Corp.
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