Citigroup settles suit

Citigroup settles suit

Citigroup says it will pay $US730 million ($703.5 million) to settle a class-action suit by bondholders related to the 2008 financial crisis. The suit alleged Citigroup misled buyers of its bonds over its exposure to subprime mortgages and other high-risk securities ahead.

AstraZeneca cuts 1600 jobs

British pharmaceutical company AstraZeneca says it will axe 1600 jobs worldwide in a major restructuring of the group over the next three years.

Lego targets Asian market

The Danish toymaker Lego says it will build a Chinese factory that employs 2000 people to serve the rapidly growing Asian market.

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