New York investigating consulting firms Promontory and PwC in laundering cases
The Liv-ex Fine Wine 50 Index of top Bordeaux vintages has risen 4 percent this year, paring the decline since the peak of the market in June 2011 to 29 percent. The slowdowns already happened, Tom Gearing, director of Cult Wines Ltd., a wine-investment company based in Richmond, England, said in an interview on Bloomberg Televisions The Pulse with Guy Johnson. There was a slowdown from midway through 2011 which found a bottom in the market at the end of 2012. Other leading lots in the Acker sale included 18 bottles of Napa Valley producer Screaming Eagle spanning the years from 1992 to 2010, which sold for $39,360, and a case of Chateau Lafite-Rothschild 1982 Pauillac, which fetched $36,900. Vintage Petrus Pomerol producer Petrus also featured among the top 10 lots, with a six-liter imperial of Petrus 2005 selling for $24,600, a case of the 1996 vintage fetching $19,680 and six bottles of the 2000 selling for $18,450. Petrus, Screaming Eagle and Romanee-Conti are all vineyards with small production, adding a rarity premium to the price of their wines. The Romanee-Conti vineyard in Vosne-Romanee is slightly smaller than 2 hectares (5 acres) and has its own appellation as a Burgundy grand cru wine. The Acker auction, with more than 95 percent of lots sold, raised a total of $3.15 million. Following is a table of major wine auctions held so far this year, with the total sold. Links are to auction websites or results statements. JANUARY: Jan. 11/12: Zachys, Hong Kong $4.65 mln Jan. 25/26: Acker, Merrall & Condit, Hong Kong $6.82 mln Jan. 30: Sothebys, London $2.22 mln FEBRUARY: Feb. 2: Hart Davis Hart, Chicago $4.40 mln Feb. 21: Christies, London $1.47 mln Feb.
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Karlie Kloss smized. Last season, we missed the famous model at New York Fashion Week, but thankfully she was at every major show this time around. And her smize has gotten even better. (Tyra would be proud!) 14. Things got awkward at Marc by Marc Jacobs . More than one showgoer showed up in the exact same outfit — eek! 15. Crops tops are here to stay. According to Tibi, Elizabeth and James, Alexander Wang, BCBG, Rachel Zoe, Derek Lam… we could go on. 16. Birks are back! Or so Ali Hewson and Bono of Edun think. 17. Rita Ora made an appearance on the catwalk.
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Where do we begin? Right now, youre probably asking yourself: What do the results of this weeks elections in New York City mean to me? This could be a pressing question, even if you live in, say, Des Moines. When New York votes, theres always an Iowa take-away. For instance, on Tuesday all the sex-scandal veterans were defeated Anthony Weiner, Eliot Spitzer, and a City Council candidate named Vito Lopez. Its possible you have never heard of that last one, but he was just terrible: the king of grope. Also, a City Council candidate involved in another sexual-harassment case lost after voters learned that he had made unwanted verbal advances to a female staffer during games of virtual Scrabble. So the question is: What lessons can non-New Yorkers draw from all this? A) Wow, you people have really weird candidates. B) This is the end of the second act for politicians who lose their jobs because of sexual misbehavior. Theyll no longer be able to imagine that they can get back in the game under the guise of wanting to serve the community. C) There are sex scandals, and then there are sex scandals. Well, A is definitely right.
The sum fell well short of the assessment by the New York financial regulator, which accused the bank of processing at least $250billion in illicit transactions. In an interview last month with The Washington Post, Promontory chief executive Eugene Ludwig said the transactions in question were closer to the finding of the U.S. Treasurys Office of Foreign Asset Control, which identified about $24million in illegal transactions to Iran. Ludwig said Promontory was specifically looking for violations of OFAC standards, whereas regulators in New York had broader jurisdiction over the banks records. In the case of PricewaterhouseCoopers, the department is investigating the firms review of foreign transactions processed by the Bank of Tokyo-Mitsubishi UFJ from 2002 and 2007. In June, the Japanese bank agreed to pay $250million to settle New York charges that it cleared some 28,000 transactions totaling $100billion for countries facing U.S. sanctions, including Iran, Sudan and Burma. Before the settlement was reached, the person familiar with the case said the department requested e-mails, draft reports and other correspondences from PricewaterhouseCoopers. The firm is cooperating with the state regulator, according to the source. Officials in the New York financial regulators office declined to discuss ongoing investigations. The head of the department, Benjamin M.