• Contact
  • Feedback
Banking Day
Stay Ahead. Stay Informed.
Concise. Candid. Provocative.
Get the daily banking news that matters
Banking Day – Your trusted source for independent financial insights.
Subscribe Now
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

Foreign news: Libyan Investment Authority takes Goldman Sachs to court, Walmart to stop accepting Vi

14 June 2016 3:59PM
Libya's US$67 billion sovereign wealth fund will commence proceedings against Goldman Sachs in a London court this week, alleging that the investment bank exploited the fund by encouraging it to make risky and ultimately worthless investments. Reuters reports that the Libyan Investment Authority is claiming US$1.2 billion of losses over nine disputed trades carried out in 2008. The LIA is also taking action against Societe Generale over US$2.1 billion of similar trades. Retailer Walmart Canada will stop accepting Visa cards for payment, citing "unacceptably high" fees, the BBC reports. Walmart and Visa had been negotiating a new fee deal and failed to reach agreement. Walmart has 370 stores in Canada and will start phasing out Visa payments across its network in July, unless agreement is reached before then.

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day
Stay Ahead. Stay Informed.
Concise. Candid. Provocative.
Get the daily banking news that matters
Banking Day – Your trusted source for independent financial insights.
Subscribe Now

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use