News Headlines - 07 October 2011

▽Moody’s downgrades 12 UK lenders - Financial Times
Royal Bank of Scotland, Lloyds Banking Group and 10 other UK financial institutions were downgraded by Moody’s to reflect the reduced likelihood that the UK government will bail them out in a future crisis, even as a European effort to recapitalise the continent’s banking system appeared to gather momentum.

▽Russians in London: Super-rich in court - Financial Times
The nub of the case is whether or not Mr Abramovich then intimidated Mr Berezovsky – with apparent Kremlin backing – into selling a stake in Sibneft, an oil giant, at a knock-down price. Mr Berezovsky seeks in excess of $5bn damages for the stake, plus $565m for the alleged sale without his permission of shares in aluminium company Rusal that he claims Mr Abramovich held on his behalf.

▽Samsung Nexus Prime smartphone launch on hold – because of Steve Jobs? - The Guardian
Samsung, the biggest rival to Apple in the smartphone business and which is involved in a number of bitter courtroom battles with the US company, has abruptly postponed its scheduled launch of a new top-end phone next Tuesday.

▽Schwarzenegger back home to inaugurate museum - BBC
Arnold Schwarzenegger has inaugurated a museum dedicated to his life in his childhood home in Austria.

▽Indian summer sees exotic moths fly in - The Guardian
As the favoured signature of the serial killer in The Silence of the Lambs, the death's-head hawk moth is a harbinger of pestilence and death. But the benign sunshine and warm southerly winds of an Indian summer have brought the rare moth flying to our shores.







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