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The number of hedge funds suing family-controlled automaker Porsche for market manipulation and fraud in 2008 has risen to 35.

Toyota Motor Corporation, the family-controlled automaker, announced yesterday it would pay the $16.4 million fine imposed on the company by the US Department of Transport.

The US Department of Transport has announced that it plans to fine Toyota Motor Corporation $16.4 million after the family-controlled automaker failed to notify US transport regulators about defects that allegedly cause unintended acceleration.

Tawhid, Tawfique and Tamjid Abdullah, the second-generation brothers who run family-owned jewellery group Damas, have been fined for withdrawing unauthorised funds and forced to resign from the board of the company by the Dubai Financial Services Authority (DFSA)

Margherita Agnelli de Pahlen, daughter of the late Fiat chairman Gianni Agnelli, yesterday lost the court case she brought against her mother and three of her father’s advisors in which she claimed she had been denied her full inheritance.

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