Legal

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/Legal

SAP shakes up management at TomorrowNow unit

German software firm SAP says senior managers at its TomorrowNow subsidiary, which is embroiled in a corporate spying scandal involving arch rival Oracle, have resigned and it is now considering selling the Texas-based unit.

/Legal

NAB hit with A$20m damages claim from former tech chief

National Australia Bank (NAB) has been hit with a A$20 million damages claim from its former chief information officer Ian Crouch who has accused the bank of "misleading or deceptive conduct" in terminating his employment contract in 2004.

/Legal

Delay in MasterCard ruling threatens Sepa launch

An internal "spat" at the European Commission (EC) is causing further delays to a ruling on interchange fees charged by card operator MasterCard and raising fears that the on-going uncertainty could hinder the launch of the single euro payments area (Sepa) in January.

/Legal

Visa to raise $10bn in IPO

Card payment network Visa has disclosed that it plans to raise up to $10 billion through its forthcoming stock market flotation, which is expected to take place early next year.

/Legal

E*Trade downgraded; bankruptcy risk highlighted

A Citi analyst has downgraded E*Trade to 'sell' and warned of a potential bankruptcy risk after the online broker reported news of further mortgage-related losses, the withdrawal of earnings guidance and an SEC investigation into its capital markets business.