On Air Now

Current Show

America Now with Andy Dean   8:00 PM - 11:00 PM

Call America Now at 877-927-2639 between 5pm and 8pm

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 550 AM Wausau, WI 99.9 FM Stevens Point, WI

Weather

Current Conditions(Wausau,WI 54403)

More Weather »
63° Feels Like: 63°
Wind: WNW 0 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Partly Cloudy 56°

Tomorrow

Mostly Sunny 79°

Fri Night

Mostly Clear 55°

Alerts

BMPS foundation supports legal action against banks, ex-managers

MILAN (Reuters) - The controlling shareholder of Banca Monte dei Paschi di Siena said Friday it wants to ask for damages against the lender's former managers and two foreign banks over loss-making derivative trades that brought it close to collapse.

The bank has already started legal proceedings. It is seeking 1.2 billion euros in damages from two former executives and investment banks Nomura <8604.T> and Deutsche Bank over two 2008-09 trades it says were designed to conceal losses.

The foundation that controls the lender said it supports the bank's decision to start legal proceedings.

Nomura and Deutsche Bank were not immediately reachable for comment.

(Reporting by Jennifer Clark)

Comments