Benchmark

Uber’s Kalanick Calls Benchmark Lawsuit a ‘Fabrication’

Uber’s co-founder Travis Kalanick fired back at investor Benchmark, saying its lawsuit seeking to oust him from the ride-hailing company’s board is based on “a fabrication” and accused the firm of threats and intimidation. Upping the ante on his fight with the venture capital firm, which holds a 13% stake in Uber, Kalanick said that Benchmark waged a secret campaign to remove him …


Australia’s Major Banks Face U.S. Class Action Over Rate Rigging

Australia’s four biggest banks said on Thursday they were among 17 global lenders being sued by U.S. funds for alleged benchmark interest rate rigging, denying the claims and pledging to contest the action. The suit follows ongoing court action on the matter by Australian regulators, and comes amid increasing scrutiny by global watchdogs on potential market manipulation. Recent investigations …