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U.S. markets recover from steep losses
PALM BEACH, Fla., April 9 (UPI) -- Billionaire Wayne Huizenga and millionaire Richard Rochon have locked horns in Florida over money owed and insider trading charges, court papers say.
Huizenga sued Rochon, his former employee of 17 years, to retrieve $10 million owed, the Miami Herald reported. Rochon then counter-sued, claiming Huizenga interfered with a deal he was making with Dell Chief Executive Officer Michael Dell's private equity firm to buy Boca Resorts.
Rochon claims he was forced out of the deal and sold 870,000 shares of the resort in December 2003, which Huizenga scooped up and later sold for a profit of $336 million.
A court dismissed the allegations in March, but gave Rochon 20 days to refile, the Herald reported.
Rochon's attorney Joseph Ianno said he does not dispute his client's debt to Huizenga, whose holdings include Blockbuster Entertainment, AutoNation, the Miami Dolphins and the Florida Panthers.
In a court filing, Huizenga said the insider trading charges were "impertinent" and "scandalous," the paper reported.
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CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
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NEW DELHI, May 24 (UPI) --
India's state-run National Aerospace Laboratory will work with Kadet Defense Systems to develop NAL's Hansa trainer aircraft into an unmanned airial vehicle.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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What if Europe turned out to be the new Japan?
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