Financial definitions and terms

California judge rules large arizona campaign donation can be audited


´╗┐SACRAMENTO Oct 30 A California campaign finance regulatory agency can audit a last-minute $11 million out-of-state donation to a political action committee by a mystery group from Arizona, a judge tentatively ruled on Tuesday. A state Superior Court judge in Sacramento wrote that Californians "will suffer irreparable harm" if the California Fair Political Practices Commission is not allowed to audit the donation from Americans for Responsible Leadership. The commission sued the Arizona-based non-profit last week for access, ahead of the Nov. 6 general election, to information about its donors to evaluate if their donations comply with California campaign finance laws.

The $11 million donation is one of the single, largest contributions in the 2012 election season in California, and is also the largest out-of-state contribution from one independent non-profit to another for the purposes of influencing an election, commission chairwoman Ann Ravel said last week.

The Arizona group donated $11 million to the Small Business Action Committee PAC on Oct. 15, according to the lawsuit.

The donation was intended to help fuel efforts to defeat a tax ballot initiative sponsored by California Governor Jerry Brown, a Democrat, and support another ballot measure that would stop automatic paycheck deductions for political activities that is seen as a potential blow to labor unions.

Dubais dp world in talks with banks for $3 bln loan sources


´╗┐DUBAI, April 24 Dubai-owned port operator DP World is in talks with lenders to triple the size of an existing $1 billion loan, as well as extend the lifespan and reduce the interest rate, banking sources told Reuters on Thursday. The firm, part of state-owned conglomerate Dubai World , is aiming to raise the loan to $3 billion, four banking sources said, speaking on condition of anonymity as the information isn't public.

The original revolving credit facility was signed in April 2012 and has already been renegotiated once, adding a year to the lifespan in June 2013.

"We undertake a regular annual review of our banking facilities as part of active financial management," a spokesperson for DP World said when contacted by Reuters.