Business

Citigroup Wins Record-Label Lawsuit

How the mighty have fallen: Guy Hands was once a titan of finance, as The Daily Beast’s Peter Lauria wrote earlier this week, but his ship ran aground when he bought the record label EMI in 2007. When the purchase proved a mistake, he tried to blame Citigroup, which brokered the deal. He sued for $8 billion, but on Thursday a jury awarded him nothing. EMI may soon default on its debt and could file for bankruptcy next year.