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Report: Boeing Dreamliner to fly soon
Monday, December 7
LONDON, Dec. 1 (UPI) -- British regulators denied troubled New Star Asset Management's request to suspend trading of its shares Monday, pushing stock value down 68 percent.
The U.K. Listing Authority denied the request, triggering an escalating slide in the fund's value, which has fallen 90 percent in the past year, The Times of London reported.
Four British banks -- HBOS, Lloyds TSB, the Royal Bank of Scotland and HSBC -- and the National Australia Bank are positioned to take over the fund, which has a net debt of $360 million.
The banks are negotiating to arrange a debt for equity swap which would allow them control of the fund's equity in exchange for a debt reduction to zero, The Times said.
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MIAMI, Dec. 7 (UPI) --
Former professional wrestler and U.S. television personality Hulk Hogan has gotten engaged to Jennifer McDaniel after dating her for about two years.
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