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Investment News 10/2008



Ameriprise to regain part of Reserve investment (Minneapolis-St. Paul Star Tribune)
Investors with money frozen in the Primary Fund money market fund, including clients of Minneapolis-based Ameriprise Financial Inc., will see a portion of their investment around Oct. 13.
Man jailed over $3m investment losses (Australian Broadcasting Corporation)
An Adelaide businessman will spend a year in jail for failing to disclose details of an investment scheme.
Rail investment "small change" (Newstalk ZB via Yahoo!Xtra News)
The Government says its $121 million dollar investment in the rail system is small change.
Garnaut flags urgent need for $3b research investment (Queensland Country Life)
Professor Ross Garnaut has recommended that a $3 billion per annum investment is required within five years to research, develop and commercialise low-emissions technologies and inform climate change policy decisions.
UBS to Cut 1,900 Investment Bank, Equities, Fixed Income Jobs (Bloomberg)
Oct. 1 (Bloomberg) -- UBS AG , the European bank with the biggest losses from the credit crisis, may announce plans to eliminate about 1,900 jobs in its investment banking, equities, and fixed income units at its Oct. 2 shareholder meeting, two people with knowledge of the matter said.
UBS May Cut Investment Bank Jobs: Report (TheStreet.com)
UBS may announce plans to eliminate about 1,900 jobs in its investment banking, equities, and fixed income units at its shareholder meeting Thursday, Bloomberg reports.
UBS May Cut Another 1,900 Investment Banking Jobs: Report (Fox News)
UBS May Cut Another 1,900 Investment Banking Jobs: Report
INSIDE INDIANA BUSINESS column: Delphi to move forward on $160 Million investment (The Times of Northwest Indiana)
A 10-year tax abatement request from Delphi Electronics & Safety has been approved by the Kokomo Common Council. It paves the way for the company to invest $160 million in its operations. Delphi is investing in new equipment and new products to position it for growth. The company expects to retain 3,000 jobs as a result of the investment.
UBS Said to Eliminate 1,900 Investment Banking Jobs (Update2) (Bloomberg)
Oct. 1 (Bloomberg) -- UBS AG , the European bank with the biggest losses from the credit crisis, plans to eliminate about 1,900 jobs in its investment banking, equities, and fixed income units, two people with knowledge of the matter said.
Russian Railways to `Hold Off' on Borrowing, May Cut Investment (Bloomberg)
Oct. 1 (Bloomberg) -- OAO Russian Railways, the country's railroad monopoly, will ``hold off'' on borrowing money and may reduce its investment program because of the turmoil in global financial markets.
India FIPB approves Astellas, ABN investment plans (Reuters via Yahoo! Malaysia News)
NEW DELHI, Oct 1 (Reuters) - India's Foreign Investment Promotion Board has approved investment plans of Japanese drug maker Astellas Pharma <4503.T> and ABN Amro Bank, a finance ministry official told Reuters on Wednesday.
Credit crisis may hit foreign investment in India - Nath (Reuters via Yahoo! India News)
PARIS (Reuters) - India's Trade Minister Kamal Nath: credit crisis could affect foreign investment in India.
3Q UK Direct Real Estate Investment Activity Shrinks to GBP5 Billion (Nasdaq)
LONDON -(Dow Jones)- Direct real estate investment activity in the U.K. shrunk to about GBP5 billion in the third quarter as a lack of available finance impacted deals, according to Jones Lang LaSalle.
Green venture-capital investment surges (BizJournals)
Venture capital investment in green energy technologies exceeded $2.8 billion in the third quarter of 2008, far exceeding any previous quarter on record, according to Greentech Media Inc., an online media company that tracks green technology news.
Current Guatemalan Oil and Gas Markets Investment Opportunities, Analysis and Forecasts to 2020 (Centre Daily Times)
Research and Markets ( (link) guatemala_oil_and) has announced the addition of the "Guatemala Oil and Gas Markets Investment Opportunities, Analysis and Forecasts to 2020" countryprofile to their offering.
U.S. life insurers' shares fall on investment concerns (Business Insurance)
NEW YORK (Reuters)—Shares of U.S. life insurers fell sharply Wednesday as investors grew concerned that investment losses could erode profits and capital.
American Equity Investment Life Holding, Crosstex Energy and Crosstex Energy among 52-week lows (SmallCapInvestor.com via Yahoo! Finance)
American Equity Investment Life Holding Co. , Crosstex Energy LP and Crosstex Energy Inc. are among the new 52-week lows in Wednesday's trading among...
UBS Said to Eliminate 1,900 Investment Banking Jobs (Update3) (Bloomberg)
Oct. 1 (Bloomberg) -- UBS AG , the European bank with the biggest losses from the credit crisis, plans to eliminate about 1,900 jobs in its investment banking, equities, and fixed income units, two people with knowledge of the matter said.
Telecom Says N.Z. Investment Environment Must Be Fair (Update1) (Bloomberg)
Oct. 2 (Bloomberg) -- Telecom Corp. , New Zealand's biggest telephone company, wants the government to provide a fair environment for investment as it considers adding faster mobile technology to a planned network.
Table Of South Korea 3Q Reported Foreign Direct Investment (Nasdaq)
17.4% on year at $7.42 billion. *Actual foreign direct investment in the first half of this year is up 37.9% on year at $4.07 billion. (END) Dow Jones Newswires 10-01-082215ET Copyright (c) 2008 Dow Jones & Company, Inc.
Tibet sets up investment company to promote growth, development (People's Daily)
Southwest China's Tibet Autonomous Region established its first investment company on Wednesday to promote economic development. Tibet Autonomous Region Investment Co., Ltd. was funded by the regional finance department with a registered capital of 600 million yuan (87.6 million U.S. dollars). The company will be a platform for capital financing, attraction of expertise and industry investment, ...
China's new regulations on foreign investment in advertising firms takes effect (People's Daily)
China's newly-revised administrative regulations on foreign investment in advertising enterprises came into effect on Wednesday. The regulations, jointly promulgated by the State Administration for Industry and Commerce (SAIC) and Ministry of Commerce (MOC), were set to replace the former regulations issued by SAIC and MOC on March 2, 2004. Under the new regulations, foreign-invested advertising ...
M&S underlying sales fall and to cut investment (Reuters via Yahoo! UK & Ireland News)
Marks & Spencer posted a 6.1 percent drop in second-quarter core sales and said it was cutting investment and stepping up promotions in a tough market.
Abu Dhabi Investment House signs MoU with Chinese firm to acquire projects worth $6bn (Zawya)
01 October 2008 Abu Dhabi Investment House (Adih) announced yesterday on the company website that it signed a Memorandum of Understand (MoU) with major Chinese construction firm, Shanghai Construction (SCAC) (Asia). The signed MoU is designed to establish a 50-50 joint venture to acquire up to 16 real estate projects across China worth $6 billion (Dh22bn).
State to investigate Local Government Investment Pool (Bradenton Herald)
The state of Florida is launching an investigation into how the Local Government Investment Pool, a state-run cash fund for local governments, got ensnared in its current financial mess.
Ministry seeks investment from Seoul (Việt Nam News)
HCM CITY — A team with the transport ministry headed by Deputy Minister Ngo Thinh Duc is visiting the Republic of Korea from September 29 to October 3 to seek Korean investment in transport infrastructure projects.
Bank of America Says Thain Will Head Investment Bank (Update1) (Bloomberg)
Oct. 2 (Bloomberg) -- Bank of America Corp. Chief Executive Officer Kenneth Lewis said John Thain , the CEO at Merrill Lynch & Co., will oversee corporate and investment banking and wealth management at the combined companies.
Discount Investment, IDB Delay Sale of Stake in Brazil's GVT (Bloomberg)
Oct. 2 (Bloomberg) -- Discount Investment Corp. and IDB Development Corp., the Israeli holding companies controlled by billionaire Nochi Dankner , said they will delay the sale of their stake in Brazil's GVT Holdings SA.
Boenning & Scattergood Announces Investment Opinion on ArgonST, Inc. (Centre Daily Times)
Boenning & Scattergood initiated coverage of ArgonST Inc. (NASDAQ: STST) today with a Market Outperform rating and 12-month price target of $28. ArgonST designs and manufactures C4ISR solutions focused around sensors, signal intelligence, tracking and warning systems, and electronic warfare. Our investment thesis includes the following factors:
The 5th Annual Timberland Investment World Summit(TM) will Examine the Future of Timberland Investing (Centre Daily Times)
IQPC presents the 5th Timberland Investment World Summit at the Westin New York at Times Square, NY, October 27-29, 2008 where industry experts will examine investment opportunities available in all corners of the globe, and provide practical solutions to maximize investments while leveraging risk. In today's soft markets, the need for innovation and opportunity is paramount, and exploring ...
Bank of America Says Thain to Lead Corporate, Investment Bank (Bloomberg)
Oct. 2 (Bloomberg) -- Bank of America Corp. Chief Executive Officer Kenneth Lewis said John Thain , the CEO at Merrill Lynch & Co., will stay after the companies are combined to oversee corporate and investment banking and wealth management.
GSIS says US investment minimal but won't disclose how much (Philstar.com)
The Government Service Insurance System (GSIS) reiterated yesterday that it has no investment in the embattled US firms Lehman Brothers and American International Group.
National Investment Managers buys Pension Technical Services - Quick facts (Nasdaq)
(RTTNews) - National Investment Managers Inc. (NVM.OB) said Thursday that it has closed on the acquisition of Pension Technical Services, Inc., dba Reptech Corp., in a deal valued at $3.5 million.
Hang Seng Bank Says Investment in WaMu Debt Is `Immaterial' (Bloomberg)
Oct. 2 (Bloomberg) -- Hang Seng Bank Ltd. said its investment in debt issued by Washington Mutual Inc. is ``immaterial,'' after Hong Kong's second-biggest lender by assets fell the most in a decade on the city's stock exchange.
National Investment Managers Inc. Acquires Pension Technical Services, Inc. (Centre Daily Times)
National Investment Managers Inc. (OTC BB: NIVM), a nationally-operated and regionally-based retirement plan administration and investment management company, announced today that it has closed on the acquisition of Pension Technical Services, Inc. (dba Reptech Corp), based in Denver, Colorado. Reptech serves more than 540 small and mid-size companies in the Southwest, and is a nationally ...
Colleges scramble as investment fund is frozen (AP via Yahoo! Finance)
An investment fund that serves about 1,000 colleges and private schools partially froze withdrawals this week amid the credit crunch, forcing colleges to develop new plans to pay bills.
Banks, investment firms ramp up Fed borrowing (AP via Yahoo! News)
Banks and investment firms ramped up borrowing from the Federal Reserve's emergency lending facility over the past week, providing fresh evidence of the credit stresses squeezing the country.
Banks, investment firms ramp up Fed borrowing (USA Today)
The Federal Reserve says banks and investment firms ramped up borrowing from its emergency lending facility over the past week, fresh evidence of the credit stresses squeezing the country.
Thain to head investment banking, wealth at BofA (Washington Post)
NEW YORK (Reuters) - John Thain, the Merrill Lynch & Co Inc chief executive who engineered the firm's sale to Bank of America Corp, will head investment banking, securities and wealth management at the new company -- at least for now.
Boeing-Boeing Recoups Investment; Tour Planned for 2009 (Playbill)
The 2008 Tony Award winner for Best Revival of a Play, Boeing-Boeing, has recouped its initial $2.65 million investment, according to Variety.
College investment fund limits withdrawals (San Francisco Chronicle)
An investment fund that serves about 1,000 colleges and private schools partly froze withdrawals this week amid the credit crunch, forcing colleges to develop new plans to pay bills. Wachovia Bank, trustee for the $9.3 billion Short Term Fund offered by...
Colleges scramble as investment fund freezes (AP via Yahoo! News)
An investment fund that serves about 1,000 colleges and private schools partially froze withdrawals this week amid the credit crunch, forcing colleges to develop new plans to pay bills.
UBS Cuts 2,000 Investment Bank Jobs, Reposition Unit (Update1) (Bloomberg)
Oct. 3 (Bloomberg) -- UBS AG , the European bank hardest hit by the credit crisis, said it will cut 2,000 more jobs from its investment banking unit and reposition the division to reduce costs and improve efficiency.
UBS to cut 2,000 jobs in investment bank unit (AFP via Yahoo! News)
Switzerland's biggest bank UBS said it would cut 2,000 more jobs as it revamps its investment bank which had been battered by the US subprime crisis.
UBS to cut 2,000 more investment banking jobs (Reuters via Yahoo! News)
UBS AG will reorganize its troubled investment bank, closing most of its commodities business and cut a further 2,000 jobs, the bank said on Friday, responding to the continuing crisis in financial markets.
UBS To Cut Another 2,000 Investment Banking Jobs (Fox News)
UBS To Cut Another 2,000 Investment Banking Jobs
UBS to cut 2,000 jobs in investment bank unit (AFP via Yahoo! News)
Switzerland's biggest bank UBS said it would cut 2,000 more jobs as it revamps its investment bank which had been battered by the US subprime crisis.
UBS pares investment banking, to cut 2,000 jobs (Washington Post)
ZURICH/NEW YORK (Reuters) - UBS AG said it is cutting another 2,000 jobs at its troubled investment bank and closing most of its commodities business but will remain a universal bank and will not quit investment banking completely.
UBS to cut 2,000 jobs at its investment bank (AP via Yahoo! News)
Swiss bank UBS AG will cut 2,000 jobs at its troubled investment banking unit, most of which will be lost in the U.S. and Britain, an official said.
UBS to Cut 2,000 More Investment Banking Jobs (New York Times)
UBS is to further slim down its troubled investment bank, cutting another 2,000 jobs and closing most of its commodities business, the bank said on Friday, signaling it might want to hang on to the business.