RBS May Launch Civil Suit Against Goldman Sachs

By Jessica Hodgson

Of DOW JONES NEWSWIRES

LONDON (Dow Jones)--Royal Bank of Scotland PLC (RBS) is considering launching a civil suit against Goldman Sachs Group Inc. (GS) to recoup additional losses sustained through its investment in a controversial mortgage-backed security that prompted a Securities and Exchange Commission fraud suit, a person familiar with the matter said Friday.

Goldman Sachs Thursday settled civil charges with the SEC on the marketing of the security: a package of debt securities called Abacus 2007-ACI.

The bank has agreed to pay $550 million to settle civil charges that it duped clients by selling the derivatives without disclosing the role of Paulson & Co., a hedge fund, in the transaction and specifically the fact that Paulson was effectively betting the mortgages in the security would fail.

Of the $550 million, approximately $100 million will be paid to RBS, with another $150 million going to IKB Industrie Bank AG (IKB.XE) of Germany.

Paulson, which helped design the Abacus debt securities package, wasn't accused of wrongdoing by the SEC.

RBS, which was a major investor in the security, lost $841 million as a result of the deal.

"RBS has been monitoring the complaint closely," the bank said in a statement. "Following the SEC's announcement, RBS will now carefully consider all of its options."

A person familiar with the situation said that a civil suit was one of a range of options being examined by RBS to try to recoup more of the losses from the transaction.

The Goldman complaint resonated with European banks because the transaction led to write-downs at British and German banks.

IKB didn't immediately comment.

Goldman, as part of its settlement, admitted that the marketing materials for the Abacus transaction "contained incomplete information."

In particular, it admitted that it was "a mistake" not to disclose the role of Paulson & Co. in the process of selecting the portfolio, and the fact that Paulson's economic interests were "adverse" to the investors who had positions in the debt securitiesi package.

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Apple Hosting iPhone 4 Press Conference Friday

Apple will be hosting a press conference at 10AM pacific time to talk about the recently released iPhone 4. The company isn’t elaborating on what will be discussed, but it seems likely the device’s antenna and proximity sensor issues will be on the list.

The Cupertino-based company has been battling bad press over problems some customers have been reporting related to iPhone 4 signal strength loss when holding the combination iPod and smartphone so the lower left corner is covered.

Consumer Reports rated the iPhone 4 at the top of its smartphone list, but refused to recommend the phone because of what it called hardware-related problems with the antennas.

Apple has suggested users try holding the phone so their hand isn’t touching the edge of the device where the external antennas meet. It also admitted that a software-related issue is causing the phone to display artificially high signal strength bars and that a fix will be available in the next few weeks.

The Mac Observer will be covering Apple’s press event announcements on Friday.

MEL GIBSON AGAIN

(CNN) -- RadarOnline on Wednesday released another audio recording of an explosive argument purportedly between actor Mel Gibson and his ex-girlfriend, Oksana Grigorieva, in which the man can be heard threatening to burn their house down.

It's the fourth such recording released since Friday by the website, which has not disclosed how it obtained the audio. The recordings are taken from a phone call and capture an obscenity-laced rant by the man as he spews racial and ethnic slurs, sexual insults and death threats.

The site claims the male voice is that of the 54-year-old Gibson. CNN has not independently confirmed the authenticity of the recordings.

In the recording released Wednesday, the man berates the woman for apparently falling asleep before having sex with him the prior evening.

"I'll burn the g...... house up. ... How dare you?" the man says as he demands the woman perform a sexual act.

In Tuesday's recording, the man uses an ethnic slur for illegal immigrants when arguing with the woman over a Latino worker employed by the couple.

On Monday, the website released a recording in which the man threatens the woman's life, saying "I'll put you in the f......ing rose garden."



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And in a recording released Friday, the man launches into a racist, sexist rant against the woman, telling her she looks "like a f...ing b.... on heat and if you get raped by a pack of n...ers it will be your fault."

It's unclear when the recordings were captured.

Grigorieva, 40, has acknowledged that the female voice on the recordings is hers and that the other voice is Gibson's. CNN's efforts to obtain comment from Gibson have been unsuccessful.

Mel Gibson's publicist, Alan Nierob, said Wednesday that the filmmaker continues to have no comment regarding the recordings.

The couple have been locked in a custody dispute over their daughter.

Last week, the Malibu Hills Police Department opened an investigation into an alleged domestic violence dispute between Gibson and Grigorieva.

Grigorieva filed a restraining order against Gibson alleging that he struck her in the face, according to her spokesman, Stephen Jaffe.

The estranged couple are scheduled to appear in court July 20 for a status hearing on the restraining order.

Grigorieva has also spoken with sheriff's deputies and has provided a statement to them in their domestic violence investigation, Jaffe told CNN Friday.

The recordings "will be part of the investigation," Los Angeles County Sheriff's spokesman Steve Whitmore said on Monday.

It is not known how RadarOnline obtained the recordings. Jaffe said Friday that the site did not receive them from Grigorieva.

Meanwhile, some show business personalities appeared to distance themselves from Gibson.

Longtime friend and former "Maverick" co-star Jodie Foster and Danny Glover, Gibson's co-star in the popular "Lethal Weapon" film series, declined to comment on the allegations, according to the Los Angeles Times.

On Friday, the William Morris Endeavor talent agency confirmed to CNN that Gibson is no longer their client.

An attorney for Gibson's ex-wife, Robyn, told CNN Tuesday that she also would not be commenting on the recordings.

But at least one Hollywood star was defending the embattled actor.

"I don't like what he did here, but I know Mel and I know he's not a racist," TV host Whoopi Goldberg said on ABC's "The View" Tuesday. "You can say he's being a bonehead but I can't sit and say that he's a racist, having spent time with him in my house with my kids. I can't say it."

Gibson came under fire in 2006 when he admitted to making anti-Semitic remarks during a drunken driving arrest. He issued an apology at the time, and appealed to the Jewish community to help him recover from his alcohol addiction

I-phone 4 problems

Technology by Pradeep Kolla
iPhone 4 Problems are Causing Lawsuits and Reception Problems (NASDAQ:AAPL)
July 15th, 2010




iPhone 4 Problems are Causing Lawsuits and Reception Problems (NASDAQ:AAPL). Apple iPhone 4 problems are causing a variety of issues. First, a class action lawsuit has been filed against Apple stating that they are trying to hide the design flaw from the customer. Second, many customers are very, very frustrated that their couple hundred dollar smartphone (that they waited outside for four hours in the blistering heat to get) drops a call whenever they touch a part of the antenna.

Consumer Reports refuses to recommend the iPhone 4 because of the reception problems. Steve Jobs simply told users to stop holding the phone in the way which caused the reception issues. Consumers are advising each other to put scotch tape or duct tape over the portion of the phone that you cannot touch.

According to Apple Insider, “Apple has been accused of violation of the Federal Communications Act, three counts of products liability related to negligence, defect in design and breach of implied warranty, intentional and negligent misrepresentation, fraud by concealment, unfair business practices and more.”

Ouch. That can’t be good!

Many are wondering why Apple isn’t working on a feasible fix. The company recently came out saying that the reason that calls drop is because there is a software glitch that shows more “bars” in areas where there aren’t as many for reception. The Consumer Reports testing results questioned this reasoning, further adding to frustrations.

Stay tuned to find out what’s next for the Cupertino, California based company! Apple’s stock price is currently at $252.73 or up $.93 from the previous day close.

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avandia and its medications

Important Warning:
Rosiglitazone may cause fluid retention (a condition where the body keeps excess fluid) that may lead to or worsen congestive heart failure (condition in which the heart is unable to pump enough blood to the other parts of the body). Before you start to take rosiglitazone, tell your doctor if you have or have ever had congestive heart failure, especially if your heart failure is so severe that you must limit your activity and are only comfortable when you are at rest or you must remain in a chair or bed. Also tell your doctor if you were born with a heart defect, and if you have or have ever had swelling of the arms, hands, feet, ankles, or lower legs; heart disease, high blood pressure; coronary artery disease (narrowing of the blood vessels that lead to the heart); a heart attack; an irregular heartbeat; or high cholesterol or fats in the blood. Your doctor may tell you not to take rosiglitazone or may monitor you carefully during your treatment.

If you develop congestive heart failure or other heart problems, you may experience certain symptoms. Tell your doctor immediately if you have any of the following symptoms, especially when you first start taking rosiglitazone or after your dose is increased: large weight gain in a short period of time; shortness of breath; swelling of the arms, hands, feet, ankles, or lower legs; swelling or pain in the stomach; waking up short of breath during the night; the need to sleep with extra pillows in order to breathe while lying down; frequent dry cough; or increased tiredness.

Some studies have shown that rosiglitazone may increase the risk of angina (chest pain), heart attack, and other problems that are caused by decreased blood flow to the heart. Other studies have not proven or ruled out that rosiglitazone increases this risk. Until more information is available, it is important that you talk to your doctor about this possible risk. Tell your doctor or get emergency medical care immediately if you experience any of the following symptoms: shortness of breath, pain in the jaw or arm, or chest pain or pressure .

Your doctor or pharmacist will give you the manufacturer's patient information sheet (Medication Guide) when you begin treatment with rosiglitazone and each time you refill your prescription. Read the information carefully and ask your doctor or pharmacist if you have any questions. You can also visit the Food and Drug Administration (FDA) website (http://www.fda.gov/Drugs) or the manufacturer's website to obtain the Medication Guide.

Talk to your doctor about the risks of taking rosiglitazone.

Why is this medication prescribed?
Rosiglitazone is used along with a diet and exercise program and sometimes with one or more other medications to treat type 2 diabetes (condition in which the body does not use insulin normally and, therefore, cannot control the amount of sugar in the blood). Rosiglitazone is in a class of medications called thiazolidinediones. It works by increasing the body's sensitivity to insulin, a natural substance that helps control blood sugar levels. Rosiglitazone is not used to treat type 1 diabetes (condition in which the body does not produce insulin and, therefore, cannot control the amount of sugar in the blood) or diabetic ketoacidosis (a serious condition that may occur if high blood sugar is not treated).

How should this medicine be used?
Rosiglitazone comes as a tablet to take by mouth. It is usually taken once or twice daily with or without meals. Take rosiglitazone at about the same time(s) every day. Follow the directions on your prescription label carefully, and ask your doctor or pharmacist to explain any part you do not understand. Take rosiglitazone exactly as directed. Do not take more or less of it or take it more often than prescribed by your doctor.

Your doctor may increase your dose of rosiglitazone after 8-12 weeks, based on your body's response to the medication.

Rosiglitazone helps control type 2 diabetes but does not cure it. It may take 2 weeks for your blood sugar to decrease, and 2-3 months or longer for you to feel the full benefit of rosiglitazone. Continue to take rosiglitazone even if you feel well. Do not stop taking rosiglitazone without talking to your doctor.

Other uses for this medicine
This medication may be prescribed for other uses; ask your doctor or pharmacist for more information.

What special precautions should I follow?
Before taking rosiglitazone,

tell your doctor and pharmacist if you are allergic to rosiglitazone or any other medications.

tell your doctor if you are taking insulin or nitrates such as isosorbide dinitrate (Isordril, Sorbitrate), isosorbide mononitrate (Imdur, ISMO), or nitroglycerin (Nitro-BID, Nitro-Dur, Nitroquick, Nitrostat, others). Nitrates come as tablets, sublingual (under the tongue) tablets, sprays, patches, pastes, and ointments. Ask your doctor if you are not sure if any of your medications contain nitrates. Your doctor will probably tell you not to take rosiglitazone if you are taking these medications.

tell your doctor and pharmacist what prescription and nonprescription medications, vitamins, nutritional supplements, and herbal products you are taking or plan to take. Be sure to mention any of the following: gemfibrozil (Lopid), other medications for diabetes, montelukast (Singulair), and rifampin (Rifadin, Rimactane, in Rifamate). Your doctor may need to change the doses of your medications or monitor you carefully for side effects.

tell your doctor if you have or have ever had any of the conditions mentioned in the IMPORTANT WARNING section or diabetic eye disease such as macular edema (swelling of the back of the eye); or liver disease. Also tell your doctor if you have ever taken troglitazone (Rezulin, no longer available in the United States), especially if you stopped taking it because you experienced side effects.

tell your doctor if you are pregnant or plan to become pregnant. If you become pregnant while taking rosiglitazone, call your doctor. Do not breastfeed while you are taking rosiglitazone.

if you have not yet experienced menopause (change of life; end of monthly menstrual periods) you should know that rosiglitazone may increase the chance that you will become pregnant even if you do not have regular monthly periods or you have a condition that prevents you from ovulating (releasing an egg from the ovaries). Talk to your doctor about methods of birth control that will work for you.

if you will be having surgery, including dental surgery, tell the doctor or dentist that you are taking rosiglitazone.

ask your doctor what to do if you get sick, develop an infection or fever, experience unusual stress, or are injured. These conditions can affect your blood sugar and the amount of rosiglitazone you may need.

What special dietary instructions should I follow?
Be sure to follow all exercise and dietary recommendations made by your doctor or dietitian. It is important to eat a healthy diet, exercise regularly, and lose weight if necessary. This will help to control your diabetes and help rosiglitazone work more effectively

What should I do if I forget a dose?
Take the missed dose as soon as you remember it. However, if it is time for the next dose, skip the missed dose and continue your regular dosing schedule. Do not take a double dose to make up for a missed one.

What side effects can this medication cause?
This medication may cause changes in your blood sugar. You should know the symptoms of low and high blood sugar and what to do if you have these symptoms.

You may experience hypoglycemia (low blood sugar) if you are taking this medication in combination with other medications used to treat diabetes. Your doctor will tell you what you should do if you develop hypoglycemia. He or she may tell you to check your blood sugar, eat or drink a food or beverage that contains sugar, such as hard candy or fruit juice, or get medical care. Follow these directions carefully if you have any of the following symptoms of hypoglycemia:

shakiness

dizziness or lightheadedness

sweating

nervousness or irritability

sudden changes in behavior or mood

headache

numbness or tingling around the mouth

weakness

pale skin

hunger

clumsy or jerky movements


If hypoglycemia is not treated, severe symptoms may develop. Be sure that your family, friends, and other people who spend time with you know that if you have any of the following symptoms, they should get medical treatment for you immediately.

confusion

seizures

loss of consciousness


Call your doctor immediately if you have any of the following symptoms of hyperglycemia (high blood sugar):

extreme thirst

frequent urination

extreme hunger

weakness

blurred vision


If high blood sugar is not treated, a serious, life-threatening condition called diabetic ketoacidosis could develop. Call your doctor immediately if you have any of these symptoms:

dry mouth

upset stomach and vomiting

shortness of breath

breath that smells fruity

decreased consciousness


Rosiglitazone may cause side effects. Tell your doctor if any of these symptoms are severe or do not go away:

headache

runny nose and other cold symptoms

sore throat

back pain

painful or irregular menstrual periods


Some side effects can be serious. If you experience any of the following symptoms, or those listed in the IMPORTANT WARNING section, call your doctor immediately:

loss of appetite

nausea

vomiting

dark urine

yellowing of the skin or eyes

blurred vision

vision loss

difficulty seeing colors

difficulty seeing in the dark

pale skin

dizziness

swelling of the eyes, face, lips, tongue, or throat

hoarseness

difficulty swallowing or breathing

hives

itching

fever

blisters


Rosiglitazone may cause other side effects. Call your doctor if you experience any unusual problems while you are taking this medication.

In clinical studies, more women who took rosiglitazone experienced fractures, especially of the hands, arms, feet, ankles, and lower legs than women who did not take rosiglitazone. Men who took rosiglitazone did not have a greater risk of experiencing fractures than men who did not take the medication. If you are a woman, talk to your doctor about the risk of taking this medication.

If you experience a serious side effect, you or your doctor may send a report to the Food and Drug Administration's (FDA) MedWatch Adverse Event Reporting program online [at http://www.fda.gov/Safety/MedWatch] or by phone [1-800-332-1088].

What storage conditions are needed for this medicine?
Keep this medication in the container it came in, tightly closed, and out of reach of children. Store it at room temperature and away from light, excess heat, and moisture (not in the bathroom). Throw away any medication that is outdated or no longer needed. Talk to your pharmacist about the proper disposal of your medication.

In case of emergency/overdose
In case of overdose, call your local poison control center at 1-800-222-1222. If the victim has collapsed or is not breathing, call local emergency services at 911.

What other information should I know?
Keep all appointments with your doctor, your eye doctor, and the laboratory. Your doctor will probably order regular eye examinations and certain laboratory tests to check your body's response to rosiglitazone. Your blood sugar and glycosylated hemoglobin should be checked regularly to determine your response to rosiglitazone. Your doctor may also tell you how to check your response to rosiglitazone by measuring your blood or urine sugar levels at home. Follow these directions carefully.

You should always wear a diabetic identification bracelet to be sure you get proper treatment in an emergency.

Do not let anyone else take your medication. Ask your pharmacist any questions you have about refilling your prescription.

It is important for you to keep a written list of all of the prescription and nonprescription (over-the-counter) medicines you are taking, as well as any products such as vitamins, minerals, or other dietary supplements. You should bring this list with you each time you visit a doctor or if you are admitted to a hospital. It is also important information to carry with you in case of emergencies