Elliott likely to block Buffett’s $18bn Texas utility deal
Elliott Management will likely veto the recent $18bn acquisition of Texas utility Energy Future by Berkshire Hathaway’s energy arm, it has emerged. This follows Elliott’s purchase of $60m-worth of special debt in EFH that vests the US hedge fund with powers to approve or block the proposed acquisition. (FT)

US insurance corporation files Libor lawsuit against nine banks
The US Federal Deposit Insurance Corporation has filed a lawsuit against nine large banks - including Barclays, Lloyds Banking Group and Royal Bank of Scotland - accusing them of manipulating London Interbank Offer Rate that led to the failure of 39 US lenders, once worth at least $400bn. (Times)