Ólafur Þór Hauksson

Lárus Welding, the former CEO of now-defunct Icelandic bank Glitnir, is one of three people arrested and remand in custody yesterday as part of the Special Prosecutor’s investigation into Glitnir’s working methods before the 2008 banking crash. Read the full story

British drilling firm Cairn Energy has seen its share prices increase after finally finding evidence of oil in one of its controversial Greenland wells. Read the full story

A majority of the former Kaupthing Bank employees who were originally let off repaying loans used to buy shares in the bank, pre-collapse, have now made a payment deal with its resolution committee. Read the full story

Reykjavik District Court has today passed sentence on the first case by the special prosecutor into the banking crash. Baldur Gudlaugsson has been sentenced to two years in prison for insider trading. Read the full story

40 former Baugur Group staff members owe over ISK one billion (USD 8.3 million) combined on loans they took out to buy shares in the now-bankrupt company. Read the full story

Margret Maria Sigurdardottir, Iceland’s children’s ombudsman says she is speechless that Glitnir Bank loaned millions of kronur to children to buy shares in Byr Savings Bank. She says the guilt lays both with Glitnir and the parents for indebting their own children. Read the full story