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Nov 9, 2011

BLOOMBERG News, Nov 09, 2011


Citigroup Puts $800 Million Into Buyout, Hedge Funds Even as Volcker Looms
Bloomberg
Source: Bloomberg) Citigroup Inc. (C), the third-biggest US lender, invested about $800 million of shareholders' money in its own private-equity and hedge funds during the third quarter as regulators seek to curtail the practice. ...
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Bloomberg
Ex-Olympus CEO Woodford Says He's Prepared to Return
Washington Post
8 (Bloomberg) -- Former Olympus Corp. Chief Executive Officer Michael C. Woodford talks about the first admission of wrongdoing by the Japanese camera maker, which said three executives helped conceal decades of losses. He speaks with Linzie Janis and ...
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China Credit Squeeze Prompts Suicides Amid Offer to Sever Finger
BusinessWeek
By Bloomberg News Nov. 7 (Bloomberg) -- Hours after a creditor and his gang of tattooed thugs hustled Zhong Maojin into a coffee shop in Wenzhou, he says he wouldn't yield to their demands. They wanted to take over one of the pharmacies in a chain he'd ...
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Stocks, Euro Rise as Berlusconi Plans to Resign
Bloomberg
8 (Bloomberg) -- Neel Kashkari, head of global equities at Pacific Investment Management Co., talks about the outlook for global financial markets. Kashkari speaks with Betty Liu and Dominic Chu on Bloomberg Television's "In the Loop. ...
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Bloomberg
Mirabela Takeover Seen With Minmetals Chasing Nickel: Real M&A
Bloomberg
By Bloomberg News - Mon Nov 07 12:13:14 GMT 2011 Andrew Michelmore, chief executive officer of Minmetals Resources Ltd. said Minmetals is planning more takeovers. Andrew Michelmore, chief executive officer of Minmetals Resources Ltd. said Minmetals is ...
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Bloomberg
Yelp Said to Hire Goldman, Citigroup for Initial Public Offering in 2012
Bloomberg
Photographer: Scott Eells/Bloomberg Yelp Inc., the review website, chose Goldman Sachs Group Inc. (GS) and Citigroup Inc. (C) to lead its initial public offering next year, said two people with knowledge of the situation. The San Francisco-based ...
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Bloomberg
Canadian Dollar Falls for First Time Since September on Europe
BusinessWeek
Investors should abandon the trade at C$1.04, according to BNP Paribas. The loonie has dropped 5 percent this year in the worst performance among 10 developed-nation currencies, according toBloomberg Correlation-Weighted Currency Indexes. ...
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Vornado Quarterly FFO Falls 22% After Losses From J.C. Penney Investment
Bloomberg
Vornado was expected to have FFO of $1.13 a share, the average estimate of 14 analysts in aBloomberg survey. The results included a loss of $37.5 million related to Vornado's stake in JC Penney Co. The REIT owns about 11 percent of the Plano, ...
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Bid to Alter Pension Plans Is Criticized
New York Times
By STEVEN GREENHOUSE Two of New York City's top labor leaders voiced anger on Tuesday about the agreement by Mayor Michael R. Bloomberg and Comptroller John C. Liu to overhaul the city's pension plans. Follow @NYTMetro for New York breaking news and ...
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Vietnam's Gore Horrifies in HD; Bill T. Jones's Lincoln: Review
San Francisco Chronicle
7 (Bloomberg) -- The war fought in America's living rooms makes a vivid return on History's "Vietnam in HD." A follow-up to the channel's fine 2009 "WWII in HD," the new six-hour, three-night program uses combat footage (restored and transferred to ...
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Computer Sciences, Intralinks, PriceSmart: US Equity Movers
BusinessWeek
9 (Bloomberg) -- Shares of the following companies are having unusual moves in US trading. Stock symbols are in parentheses and prices are as of 10 am in New York. Banks fell, following declines in European lenders, as Italian bond yields rose to ...
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Gov. Snyder: Bloomberg ranking could 'serve as a catalyst' to attract business
MLive.com
He wrote that the state benefits from gains in the automobile industry, following the $82 billion federal bailout and General Motors Co. and Chrysler Group LLC emerging from bankruptcy. Governor Rick Snyder tours . JPG.
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MLive.com
China Counterfeit Parts in U.S. Military Boeing, L3 Aircraft
San Francisco Chronicle
8 (Bloomberg) -- Dozens of suspected counterfeit parts have been installed on US defense equipment from Raytheon Co., L-3 Communications Holdings Inc. and Boeing Co., including aircraft deployed to Afghanistan. The Senate Armed Services Committee found ...
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Citigroup Said to Sell Largest Loan CDO of Year for Guggenheim Investment
Bloomberg
By Kristen Haunss - Wed Nov 02 20:42:29 GMT 2011 Pedestrians pass a Citigroup Inc. Citibank branch in New York, US Photographer: Chris Goodney/BloombergCitigroup Inc. (C) sold a $1 billion collateralized loan obligation for Guggenheim Investment ...
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Bloomberg
Olympus Delays Next Week's Earnings Release Pending Probe Into Takeovers
Bloomberg
Bloomberg's Mike Firn reports. (Source: Bloomberg) Oct. 25 (Bloomberg) -- Michael C. Woodford, former chief executive officer of Olympus Corp., talks about the company's performance and board. He speaks with Lisa Murphy on BloombergTelevision's ...
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Bloomberg
Bloomberg: "Mind boggling" GOP candidates don't believe in science
CBS News
Bloomberg himself was often held up as a possible 2012 candidate, but the Republican-turned-independent governor insisted last year that he could never win as a third-party candidate. Stephanie Condon is a political reporter for CBSNews.com. by ...
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Canadian Stocks Advance After ECB Cuts Benchmark Interest Rate
Bloomberg
PetroBakken Energy Ltd. (PBN), a western Canadian energy producer, increased 7.6 percent toC$9.20. Canadian Natural gained 9.3 percent to C$38.23 after reporting third-quarter earnings that beat the average estimate of analysts in a Bloomberg survey ...
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A123, AIG, Clearwire, Rosetta Stone, Warner: US Equity Movers
Bloomberg
That missed the average analyst estimate of 60 cents in a Bloomberg survey. Chesapeake Energy Corp. (CHK) lost 5.5 percent to $27.43 after falling as much as 7.6 percent, the most intraday since Sept. 22. The most active US oil and natural-gas driller ...
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In Mayor's Contest for a New Engineering School, Only One Judge Counts
New York Times
“I think we'll look back and say this is a very significant part of Mike Bloomberg's legacy,” said Christine C. Quinn, speaker of the Council. “It could be a game-changer for New York City.” City officials, who hope that a top-flight school of applied ...
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Sony Is Said to Be in Talks to Buy Nashville Record Label of Taylor Swift
Bloomberg
Photographer: Ramin Talaie/Bloomberg Recording artist Taylor Swift waves after performing at a Sony Corp. event during the International Consumer Electronics Show (CES) in Las Vegas, Nevada, US Recording artist Taylor Swift waves after performing at a ...
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Bloomberg
Diamond Foods, Mela, MEMC Electronic, Tesco: U.S. Equity Movers
San Francisco Chronicle
Houston Wire & Cable Co. (HWCC US) slipped 14 percent, the most since December 2008, to $11.04. The distributor of electrical wire and cable reported third-quarter profit of 28 cents a share, missing the 31-cent average analyst estimate in a Bloomberg ...
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New York State Board of Regents Chancellor Merryl Tisch blasts Mayor ...
New York Daily News
BY Ben Chapman Board of Regents Chancellor Merryl Tisch said Mayor Bloomberg'seducation reforms have turned some city schools into “warehouses” for poor-performing students. State education officials ripped Mayor Bloomberg's reforms of the city's ...
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New York Daily News
Pharmasset Rises After Hepatitis Drug Shows 100% Cure Rate
Bloomberg
... it began a Phase 3 clinical trial of the drug in combination with ribavirin, without interferon. That would be an all-oral regimen to treat hepatitis C. To contact the reporter on this story: Elizabeth Lopatto in New York at elopatto@bloomberg.net.
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Capstone Seeks Copper Deal Adding Up to 100 Million Pounds
Bloomberg
Capstone rose 2.8 percent to C$3.31 at 2:42 pm in Toronto. The shares have dropped 26 percent this year. To contact the reporter on this story: Christopher Donville in Vancouver at cjdonville@bloomberg.net. Capstone CEO on Expansion Plans , Copper...
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Bloomberg
Kaenon Polarized Featured by Bloomberg TV in Second Season of The Mentor
MarketWatch (press release)
Chosen by Bloomberg for its unique blend of industry-leading technology and lifestyle-driven focus, Kaenon's brand story will be told by co-founding brothers Steve and Darren Rosenberg who will also discuss how to tackle new growth as the premium ...
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Rajaratnam Said to Be Assigned to Massachusetts Medical Prison
Bloomberg
Devens inmates include former US Technologies Inc. Chief Executive Officer C. Gregory Earls, 67, who was convicted of 22 counts including securities fraud. He's due to be released in 2014. Also at Devens is Frank Locascio, 79, who is serving a life ...
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Bloomberg
RIM's Stock Falls Below Book Value
Bloomberg
Photographer: Adeel Halim/Bloomberg Research In Motion Ltd. (RIMM)'s decline below book value for the first time in nine years leaves the BlackBerry maker worth less than the net value of its property, patents and other assets in a sign of investors' ...
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Bloomberg
Corn Futures Advance on Speculation USDA May Lower Harvest Estimate
Bloomberg
Soybeans for delivery in January fell 0.8 percent to $11.96 a bushel. To contact the reporters on this story: Luzi Ann Javier in Singapore at ljavier@bloomberg.net, or Tony C. Dreibus in London at tdreibus@bloomberg.net.
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Canada Natural Gas Declines as Mild Weather Forecast for Midwest
Bloomberg
Spot gas at Canada's benchmark AECO C hub in Alberta fell 2 cents to C$3.17 per gigajoule, according to data compiled by Bloomberg. AECO gas traded in US dollars fell to 1 cent to $3.31 per million British thermal units. At the Huntingdon-Sumas point ...
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Ex-Citigroup Indonesia Manager Stole $5 Million from Clients, Court Told
Bloomberg
Photographer: Dimas Ardian/Bloomberg Inong Malinda Dee, a former relationship manager at Citigroup Inc. (C)'s Indonesia unit, stole more than $5 million from clients by having them sign blank transfer forms or forging their signatures, a prosecutor ...
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Bloomberg
BOJ Should Seek 10-Fold Easing: Ex-Member
Bloomberg
Photographer: Kiyoshi Ota/Bloomberg Masaaki Shirakawa, governor of the Bank of Japan, and his policy board bolstered credit and asset-purchase plans by 5 trillion yen ($64 billion) to a total of 55 trillion yen on Oct. 27. ...
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Bloomberg
Ohio Union-Law Vote May Set Tone for 2012 National Elections
San Francisco Chronicle
8 (Bloomberg) -- After efforts across the US this year to rein in government-worker unions, Ohioans today will decide whether Governor John Kasich and Republican lawmakers went too far. Voters will consider a referendum on a law Kasich signed in March ...
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SEC Can Redeem Itself Through a Tougher Citigroup Deal: View
Bloomberg
As Bloomberg View columnist Jonathan Weil pointed out last week, five times since 2003 the SEC has accused Citigroup's broker-dealer arm of securities fraud. Each time, Citigroup settled the SEC's accusation without admitting or denying wrongdoing, ...
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3 Prospective 2013 Candidates Find a Stage
New York Times (blog)
Bill de Blasio, the public advocate, praised Mayor Michael R. Bloomberg's handling of the New York City budget, but blasted his economic and housing policies as ineffective and rooted in “another time.” And while William C. Thompson Jr., ...
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Dish Network Gains as Special Payout Calms Concerns Over Network Spending
Bloomberg
Dish Chief Executive Officer Joseph Clayton told Bloomberg in May a merger with DirecTV had a better shot at winning regulatory approval than it did five or 10 years ago. Dish, based in Englewood, Colorado, said today it will pay Sprint Nextel Corp. ...
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Canadian Pacific Gains 37% as China Beats Rail Margins: Real M&A
San Francisco Chronicle
Canadian National Railway Co., the country's largest operator, climbed 19 percent, data compiled byBloomberg show. Canadian Pacific's earnings have been hurt as extreme snow and rain that caused avalanches, mudslides and flooding in parts of Canada ...
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MIT's Banerjee, Duflo Win $48000 FT/Goldman Award With 'Poor Economics'
Bloomberg
Abhijit V. Banerjee, co-author of "Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty." Source: Katrina Power PR via Bloomberg The cover jacket of "Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty" by Abhijit...
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Bloomberg
Mirae Asset Considering Indonesian Acquisition to Tap Rising Income Levels
Bloomberg
By Saeromi Shin - Fri Nov 04 01:36:01 GMT 2011 Koo Jae Sang, chief executive officer of Mirae Asset Investments Co. Photographer: Jean Chung/Bloomberg Mirae Asset Global Investments Co., South Korea's second-largest money manager, is considering an ...
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Bloomberg
RBC's McClelland Sees No 'Dire' Economy as She Buys Magna, SNC
Bloomberg
1, beating all 122 competitors, and produced gains averaging 13 percent annually since 2006, five times more than the S&P/TSX Composite Index, according to data compiled by Bloomberg. The fund beat the index 10 straight quarters between 2007 and 2010. ...
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Gold Traders More Bullish as Hedge Funds Increase Bets on Gains
BusinessWeek
4 (Bloomberg) -- Gold traders are the most bullish in three weeks after hedge funds boosted their wagers on higher prices amid speculation Europe's debt crisis and slow US growth will spur demand for the metal as a protection of wealth. ...
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Apple's Freebie IPhone Pits Premium Brand Against Bargain Fare
San Francisco Chronicle
4 (Bloomberg) -- Apple Inc.'s iPhone 3GS model is more than two years old and shunned by gadget snobs, and yet it's turning into one of the company's bigger weapons against devices running Google Inc.'s Android software this holiday season. ...
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Kellogg Third-Quarter Profit Declines 14% as Costs Increase
BusinessWeek
3 (Bloomberg) -- Kellogg Co., the maker of Corn Flakes cereal and Keebler cookies, said third-quarter profit fell 14 percent as it boosted spending to upgrade factories and monitor suppliers more closely. The shares fell the most in three years. ...
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Audi Sells A5 in Europe Amid Threatening Recession Anxiety: Cars
San Francisco Chronicle
4 (Bloomberg) -- Audi AG's updated version of the 34200-euro ($47050) A5 coupe goes on sale today in Europe and will run right into the region's sovereign debt crisis. "I need a practical vehicle," said Karl-Heinz Grohe, a 41-year-old director at a ...
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Bloomberg: Financial sector also must give ... - Out of the Storm News
By R.J. Lehmann
New York City Mayor Michael Bloomberg told a D.C. audience that in addition to ending huge tax breaks and subsidies for the agricultural and energy industries, fiscal responsibility requires that “tax loopholes in the financial industry that are ...
Out of the Storm News
Canadian Stocks Gain as ECB Cuts Rates, Profits Beat ... - Bloomberg
Canadian Stocks Gain as ECB Cuts Rates, Profits Beat Estimates.
mobile.bloomberg.com/.../canadian-stocks-advance-after-ecb-...
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