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Investment News Jul 2009

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WellPoint reports profit slump on investment loss
Health insurer WellPoint Inc. says its profit fell 7.6 percent in the second quarter as it felt the effect of investment losses. (Wed, 29 Jul 2009 10:39:24 GMT)

IFC Plans to Increase Investment in Sub-Saharan African Oil, Gas
July 29 (Bloomberg) -- The International Finance Corp., the private investment arm of the World Bank, plans to increase spending on sub-Saharan Africa’s oil and gas industry and sees ‘significant’ opportunities in Ghana, Uganda and Tanzania. (Wed, 29 Jul 2009 11:56:25 GMT)

NM agency narrows investment placement agent ban
A state board on Tuesday narrowed a recently approved ban on the use of third-party marketing agents by firms seeking to do business with New Mexico investment funds worth about $12 billion. (Wed, 29 Jul 2009 12:00:02 GMT)

WellPoint 2Q profit slumps on investment loss
WellPoint Inc., one of the nation's biggest health insurers, said Wednesday its profit fell 7.6 percent in the second quarter as it felt the effect of investment losses and continued to see enrollment declines. (Wed, 29 Jul 2009 12:57:14 GMT)

Wells Fargo Shows New Passion for Investment Banking (Update1)
July 29 (Bloomberg) -- Wells Fargo & Co.’s $12.7 billion purchase of Wachovia Corp., meant to bolster deposits and mortgage operations, has deepened the company’s commitment to investment banking as corporate stock and bond sales surge. (Wed, 29 Jul 2009 13:03:40 GMT)

WellPoint 2Q profit slumps on investment loss
WellPoint Inc., one of the biggest U.S health insurers, said Wednesday its profit fell 7.6 percent in the second quarter as it felt the effect of investment losses and continued to see enrollment declines. (Wed, 29 Jul 2009 13:08:55 GMT)

Brazil Real Drops on Concern China to Curb Investment, Lending
July 29 (Bloomberg) -- Brazil’s real declined for a second day after reports said China will curb investment and bank lending, prompting investors to shun commodities and currencies from developing nations. (Wed, 29 Jul 2009 14:44:17 GMT)

NM endowment funds show quarterly investment gains
New Mexico's investment funds increased in the last quarter despite a $300 million write-down on assets in securities lending arrangements. (Wed, 29 Jul 2009 15:06:46 GMT)

Studio head paid $450k to settle failed investment
A film studio executive who never repaid $1.9 million he took from New Orleans Saints players and others paid $452,000 to settle a dispute over another failed investment, court records show. (Wed, 29 Jul 2009 20:31:33 GMT)

Aflac Net Profit Falls 35% On Investment Losses
Aflac Net Profit Falls 35% On Investment Losses (Wed, 29 Jul 2009 20:57:28 GMT)

Aflac’s Second-Quarter Profit Falls 35% on Investment Losses
July 29 (Bloomberg) -- Aflac Inc. , the world’s largest seller of supplemental health insurance, said second-quarter profit fell 35 percent on investment losses. (Wed, 29 Jul 2009 21:01:01 GMT)

Aflac 2Q earnings fall on investment losses
Insurer Aflac Inc. said Wednesday its second-quarter net income fell 35 percent because of larger-than-usual investment losses. (Wed, 29 Jul 2009 21:54:23 GMT)

LG Innotek to boost investment, may need funding
SEOUL, July 30 (Reuters) - LG Innotek Co Ltd <011070.KS>, an electronic parts affiliate of LG Electronics Inc <066570.KS>, plans to sharply increase its investment in the fast-growing LED business and may require outside funding, senior LG Innotek executives said. (Thu, 30 Jul 2009 02:16:52 GMT)

Schulte Roth Sues Investment Firm Over $2.8 Million in Unpaid Fees
A rough few months for Dallas-based Highland Capital Management got worse on Monday when the investment firm's former lawyers at Schulte Roth & Zabel sued for nonpayment of $2.83 million in legal fees. The New York Law Journal reports that Schulte filed a summons in state court in Manhattan, seeking payment for unpaid bills dating back to June 2008. In a statement to the Law Journal, Highland ... (Thu, 30 Jul 2009 03:08:42 GMT)

Carbon scheme doubt delaying green investment: AGL boss
Uncertainty about the Federal Government’s carbon reduction scheme and renewable energy targets is holding back vital investment in green technology, AGL Energy chief executive Michael Fraser says. (Thu, 30 Jul 2009 05:26:07 GMT)

East Africa: 20 Rwandan Companies At Second EAC Investment Conference
Kigali — Over 20 private sector companies from Rwanda are believed to have attended the ongoing East African Community (EAC) Investment Conference being hosted in Nairobi, Kenya, according to information availed by the Rwanda Development Board (RDB). (Thu, 30 Jul 2009 07:35:19 GMT)

Investment manager allegedly stole $60,000 from dead woman's estate
A former San Antonio investment account manager has been brought up on charges of stealing thousands of dollars from a dead woman's estate. According to the indictment, Kevin Mathis used a debit card in Dominga Flores's name and had the financial statements mailed to a post office box he opened. (Thu, 30 Jul 2009 12:23:17 GMT)

Travelers 2nd-quarter profit declines as it sees lower investment income, raises outloook
Commercial and personal property insurer Travelers Cos. said Thursday that lower investment income and underwriting profit drove its second-quarter earnings down 21 percent. (Thu, 30 Jul 2009 12:33:29 GMT)

Travelers Net Income Falls 21% on Investment Returns (Update2)
July 30 (Bloomberg) -- Travelers Cos ., the insurer added to the Dow Jones Industrial Average in June, posted its seventh straight profit decline as investment returns slipped and customers scaled back coverage. (Thu, 30 Jul 2009 14:19:11 GMT)

Florida investment fund beefs up practices
The Florida State Board of Administration has approved policy changes to the investment guidelines for the Local Government Investment Pool. (Thu, 30 Jul 2009 14:29:36 GMT)

Early Glance: Investment Banks companies
(AP:NEW YORK) Shares of some top investment banks companies are up at 10 a.m.: Goldman Sachs rose $4.39 or 2.8 percent, to $163.83. Morgan Stanley rose $.77 or 2.8 percent, to $27.93. (Thu, 30 Jul 2009 14:49:39 GMT)

Hanley Investment Group Sells 7-Eleven Anchored Retail Center for $3,800,000 in Riverside, Calif.
IRVINE, CALIF. - Hanley Investment Group Real Estate Advisors, one of the most dominant retail investment groups in the western United States and a market leader in the sale of retail properties, announced today Jeremy S. McChesney of Hanley Investment Group represented the buyer and seller in the sale of a multi-tenant retail strip center in Riverside, Calif. (Thu, 30 Jul 2009 15:18:08 GMT)

Coffee Republic bought by Arab Investment
LONDON (SHARECAST) - Coffee shop chain Coffee Republic has been bought out of administration by property firm Arab Investment Ltd. (Thu, 30 Jul 2009 17:05:06 GMT)

Economic Turnaround Stymied by Low Foreign Direct Investment?
A prosperous recovery for worldwide economies hinges on an uptick in foreign direct investment flows, according to a new report from a United Nations think-tank, which also warns about the risk of protectionism. (Thu, 30 Jul 2009 17:46:46 GMT)

Travelers Net Income Falls 21% on Investment Returns (Update3)
July 30 (Bloomberg) -- Travelers Cos ., the insurer added to the Dow Jones Industrial Average in June, posted its seventh straight profit decline as investment returns slipped and customers scaled back coverage. (Thu, 30 Jul 2009 20:35:44 GMT)

MetLife Injured by Investment Losses
MetLife swings to a loss in the second-quarter, hurt by investment losses. (Thu, 30 Jul 2009 21:17:32 GMT)

Small Investment Banks Are Snagging Big Clients
Editor’s Note: This story appears in the print edition of BusinessWeek’s Aug. 10 issue. When Roche decided to buy the rest of biotech company Genentech, the pharmaceutical maker hired boutique investment bank Greenhill as its sole adviser late last year. It was a rare move on Wall Street. (Thu, 30 Jul 2009 21:28:14 GMT)

MetLife posts 2Q loss as investment losses soar
MetLife Inc. said Thursday it lost $1.43 billion in the second quarter amid a huge spike in investment losses. (Thu, 30 Jul 2009 21:34:16 GMT)

MetLife posts 2Q loss as investment losses soar
MetLife Inc. said Thursday it lost $1.43 billion in the second quarter amid a huge spike in investment losses. For the period ended June 30, MetLife posted a loss of $1.74 per share, marking the second quarterly loss in a row for the New York-based insurer. (Thu, 30 Jul 2009 21:34:16 GMT)

MetLife Reports Second Straight Loss on Investment Writedowns
July 31 (Bloomberg) -- MetLife Inc. , the biggest U.S. life insurer, posted a second straight loss on investment writedowns, hedging declines and losses from an improvement in the firm’s own credit spread. (Fri, 31 Jul 2009 04:18:27 GMT)

Province seeks $1bil investment
VietNamNet Bridge – The southern province of Binh Duong has set a goal of attracting US$1 billion in foreign direct investment this year, according to deputy director of the provincial Department of Planning and Investment Le Viet Dung. (Fri, 31 Jul 2009 05:19:18 GMT)

Spain’s Leader Sees Investment as Means to Ease Job Losses
Prime Minister José Luis Rodríguez Zapatero is emphasizing investment rather than structural adjustment to counter an 18 percent jobless rate. (Fri, 31 Jul 2009 06:43:46 GMT)

Ventura revamps its investment policies
The city of Ventura has altered its investment policy to stress greater diversification as it continues to try to recoup some of the $10 million it stands to lose in soured Wall Street holdings. (Fri, 31 Jul 2009 07:01:58 GMT)

South Africa: ANCYL Investment Arm Faces Restructuring
Johannesburg — THE future of the African National Congress Youth League's (ANCYL's) investment arm, Lembede Holdings, hangs in the balance, after the company yesterday revealed years of financial mismanagement and noncompliance with the Companies Act. (Fri, 31 Jul 2009 08:51:44 GMT)

East Africa: East African Investment Conference - Finance Tops EAC's Investment Agenda
Speaking the opening of the second regional investment conference in Nairobi, the heads of state said only consistent investment in sectors such as communication, tourism, energy and agriculture would bring to fruition a truly integrated economy that is attractive to both local and foreign investors. (Fri, 31 Jul 2009 08:54:47 GMT)

MetLife Reports Second Straight Loss on Investment Writedowns
July 31 (Bloomberg) -- MetLife Inc. , the biggest U.S. life insurer, posted a second straight loss on investment writedowns, hedging declines and losses from an improvement in the firm’s own credit spread. (Fri, 31 Jul 2009 11:49:27 GMT)

Apartment Investment Results Fall
Apartment Investment Results Fall (Fri, 31 Jul 2009 11:50:19 GMT)

Pakistan Seeking $75 Billion Investment In Next 5 Years - Minister
ISLAMABAD (AFP)--Pakistan expects to attract $75 billion in investment over the next five years, helping to overcome a crippling energy crisis and Taliban violence, a cabinet minister said Friday. (Fri, 31 Jul 2009 13:06:37 GMT)

Apartment Investment Sees Rentals Wane
Apartment Investment posts 48% decline in second-quarter funds from operations (Fri, 31 Jul 2009 14:02:05 GMT)

New Jersey woman admits to $15M investment scam
The former operator of a Clifton, N.J.-based real estate investment program has admitted that she fraudulently raised more than $15 million from hundreds of investors. (Fri, 31 Jul 2009 14:38:26 GMT)

Wong is SC exec director for issues, investment (Business Times
THE Securities Commission has appointed Eugene Wong Weng Soon as its executive director of the issues and investment division, replacing Datuk Kris Azman Abdullah. Wong, a member of the Malaysian Institute of Accountants and a Fellow of both the Institute of Chartered Accountants in Australia and CPA Australia, was previously the head of Deloitte's Southeast Asia Islamic Finance Group. ... (Fri, 31 Jul 2009 16:07:15 GMT)

Pakistan eyes $75 bln investment: minister
Pakistan expects to attract 75 billion dollars investment over the next five years, helping to overcome a crippling energy crisis and Taliban violence, a cabinet minister said Friday. (Fri, 31 Jul 2009 16:17:00 GMT)

Wong is SC exec director for issues, investment (Business Times
THE Securities Commission has appointed Eugene Wong Weng Soon as its executive director of the issues and investment division, replacing Datuk Kris Azman Abdullah. (Fri, 31 Jul 2009 17:37:32 GMT)

Apartment Investment and Management Profits Plummet for Q2
Apartment Investment & Management (AIV), reported substantial losses for the fourth quarter totaling $18.4 million or 26 cents per share. (Fri, 31 Jul 2009 19:05:09 GMT)

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