JC Flowers in funding talks for Friends Prov bid - papers 25 Feb

It is hoping to raise £1.2bn from four banks, including HBOS, HSBC, Morgan Stanley and the Royal Bank of Scotland. The remaining £300m will come from smaller institutions, the newspaper said, without citing sources. UBS, THE UNDERFIRE SWISS BANK, has become the first European bank to be sued by an investor over the sale of financial products that collapsed as a result of the meltdown in sub-prime mortgages in the United States, reports The Times. HSH Nordbank, one of Germany’s biggest banks, is suing the largest Swiss bank over $500m (£254m) of collateralised debt obligations (CDOs) in w...