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Investment News 07/2009 (Page 7)



Investment Banking Hums, But Loan Losses Grow (New York Times)
Bank of America , JPMorgan Chase and Citigroup , the three biggest U.S. lenders, reported a total of $10.2 billion in profits for the second quarter that relied on investment banking and asset sales to counter growing losses on consumer loans, Bloomberg News reported.
Investment flow into agribusiness schemes dries up (Sydney Morning Herald)
AUSTRALIA'S agribusiness managed investment schemes face an uncertain future after the sector crashed 77 per cent to $250 million in 2008-09 following the collapse of Timbercorp and Great Southern.
PRI Issues Guidance for Responsible Investment in Private Equity (SocialFunds.com)
By Robert Kropp. Responsible Investment in Private Equity: A Guide for Limited Partners seeks to apply the Principles for Responsible Investment to the unique characteristics of private equity investing.
Stokes is ready to flush GRD investment (The Age)
Seven Network may cut its losses on its investment in GRD, which yesterday agreed to a $106 million British takeover.
Kansas City investment firm takes Wright approach (Connecticut Post)
otherwise would not be able to afford to hire an in-house team."It's the same kind of division I ran at Wright," Helm said.Peter Donovan, Wright's chief executive officer and chief investment
Morgan Stanley Investment Management Raises $600 Million for TALF Strategy (Financial Planning.com)
Morgan Stanley Investment Management said it has raised more than $600 million in capital from high-net-worth investors and institutional investors to invest in securities to serve as collateral under the Term Asset-Backed Securities Loan Facility (TALF) program.
Brazil BNDES Sees BRL43.3 Billion Investment In Innovation In 2010 (Nasdaq)
RIO DE JANEIRO -(Dow Jones)- Brazil's investment in innovation is likely to reach 1.5% or 1.6% of gross domestic product next year, Luciano Coutinho, president of the National Development Bank, or BNDES, said Monday.
CalPERS expected to report losing nearly one-quarter of investment portfolio (Los Angeles Times)
The estimated $56.8-billion drop at the U.S.' largest pension fund, the second annual loss in a row, would have a huge effect on what state and local governments must shell out to support retirees. California's huge government pension fund is expected to report today a whopping annual loss of an estimated $56.8 billion, almost a quarter of its investment portfolio.
Venture Investment Shrinks to Pre-Bubble Levels (New York Times)
The venture capitalists who have been calling for investment to shrink to the levels of the early 1990s are getting what they wished for.
India may ease foreign investment cap on debt-paper (Reuters via Yahoo! Malaysia News)
MUMBAI, July 21 (Reuters) - Indian policymakers may raise foreign investment limits on government debt securities, the Economic Times newspaper reported on Tuesday, citing an unnamed official close to the matter.
Reinsdorf opens up about his best investment (Daily Herald)
Buying the Bulls was the best investment Jerry Reinsdorf ever made. At least, he's pretty sure it is, considering his investment group purchased the franchise for $16 million in 1985, turned a nice profit most every year since, and Forbes Magazine estimated its value at just more than $500 million.
Abu Dhabi mulls US1 billion investment (The New Straits Times)
ABU DHABI: Prime Minister Datuk Seri Najib Tun Razak has announced a major initiative by the Abu Dhabi government whereby a sovereign wealth fund it wholly owns is set to make a US$1 billion investment in Malaysia in the energy, real estate and hospitality sectors.
Venture Investment Drops 51% as Startup Funding Hits 1994 Lows (Bloomberg)
July 21 (Bloomberg) -- Venture capital investment fell 51 percent in the second quarter as firms coped with the recession and a drought in initial public offerings, bringing funding for startups to the lowest level in 15 years.
South Korean Sovereign Wealth Fund to Boost Equities Investment (Bloomberg)
July 21 (Bloomberg) -- Korea Investment Corp. , the country’s $30 billion sovereign wealth fund, said it will increase the equities allocation in its portfolio later this year and target additional investments in the U.S. and Asia.
Venture capital investment plunges (Detroit Free Press)
Venture capital investment in Michigan companies fell sharply in this year's first half, mirroring the slowdown occurring nationwide, according to a new report.
Doc scanning, capture is a risk-free investment (CIOL)
BANGALORE, INDIA: EMC Corporation unveiled the results of a document capture survey conducted by AIIM. Sponsored by EMC, the research study finds that document scanning and capture is a risk-free investment compared to other types of IT projects and payback time of the initial investment frequently occurs in less than one year.
South Korean Sovereign Wealth Fund to Boost Equities Investment (Bloomberg)
July 21 (Bloomberg) -- Korea Investment Corp. , the country’s $30 billion sovereign wealth fund, said it will increase the equities allocation in its portfolio later this year and target additional investments in the U.S. and Asia.
Iraq PM flies to US to meet Obama, seek investment (AP via Yahoo! News)
Iraqi Prime Minister Nouri al-Maliki is heading to Washington to visit President Barack Obama and seek U.S. investment in Iraq despite persistent security concerns.
KGHM Cuts Copper Investment Plan, New CEO Wirth Says (Update1) (Bloomberg)
July 21 (Bloomberg) -- KGHM Polska Miedz SA , the copper producer with the largest European mine output, cut its investment plans, as rising metals prices make acquisitions more expensive and shareholders extract a larger dividend than management had proposed.
Venture Investment Shrinks to Pre-Bubble Levels (New York Times)
The venture capitalists who have been calling for investment to shrink to the levels of the early 1990s are getting what they wished for.
Etheredge hearing centers on his past investment practices (BizJournals)
Witnesses testified Monday during Thomas Etheredge’s preliminary hearing about his past investment practices and prior conviction on securities fraud charges, KAKE News reports.
Magna Bid To Acquire GM's Opel Includes EUR500 Million Investment (Nasdaq)
Auto supplier Magna International Inc. (MGA) and partner Sberbank Russia ( SBER.RS) announced a revised offer to acquire a 55% stake for General Motors Co.'s European unit, Adam Open GmbH, including a total investment of EUR500 million ($713.1 million).
Ukraine tells Biden it wants US investment for gas (AP via Yahoo! Finance)
Ukraine wants American investment to help modernize its creaky but strategic natural gas pipeline system, the country's president told U.S. Vice President Joe Biden on Tuesday.
S. Korean fund to boost investment in equities (Business Times (Malaysia))
SEOUL: Korea Investment Corp, the country's US$30 billion (US$1 = RM3.54) sovereign wealth fund, said it will increase the equities allocation in its portfolio later this year and target additional investments in the US and Asia. "We think it's unlikely that bonds are going to continue to outperform stocks from here over the long term," chief investment officer Scott Kalb said in an interview ...
Kitchen Remodeling in Manhattan Still a Great Investment (dBusinessNews.com)
Despite the real estate hardships home owners are feeling in Manhattan and throughout the country, kitchen remodeling expert Abe Safdie, with Berceli Kitchen and Home Design, reminds home owners that kitchen remodeling remains a sound investment.
South Korean Sovereign Wealth Fund to Boost Equities Investment (Bloomberg)
July 21 (Bloomberg) -- Korea Investment Corp. , the country’s $30 billion sovereign wealth fund, said it will increase the equities allocation in its portfolio later this year and target additional investments in the U.S. and Asia.
Sallie Mae 2Q loss attributed to investment losses (AP via Yahoo! News)
SLM Corp., better known as Sallie Mae, said Tuesday investment losses pushed it to a loss for the second quarter.
Sallie Mae 2Q loss attributed to investment losses (Washington Post)
DES MOINES, Iowa -- SLM Corp., better known as Sallie Mae, said Tuesday investment losses pushed it to a loss for the second quarter.
Sallie Mae 2Q loss attributed to investment losses (AP via Yahoo! Finance)
SLM Corp., better known as Sallie Mae, said Tuesday investment losses pushed it to a loss for the second quarter. The nation's largest student lender reported a loss of $123 million, or 32 cents per share, compared with profit of $266 million, or 50 cents a share, a year earlier.
Keio University Postpones New School After Investment Losses (Bloomberg)
July 22 (Bloomberg) -- Keio University , Japan’s oldest college, postponed a plan to build a new school after investment losses sapped its finances. Keio, whose graduates include former Prime Minister Junichiro Koizumi and Toyota Motor Corp. President Akio Toyoda , will delay construction of an elementary and junior high school because of a “change in financial conditions,” it said in a ...
Keio Postpones New School After Investment Losses (Update1) (Bloomberg)
July 22 (Bloomberg) -- Keio University , Japan’s oldest college, postponed a plan to build a new school after investment losses sapped its finances. Keio, whose graduates include former Prime Minister Junichiro Koizumi and Toyota Motor Corp. President Akio Toyoda , will delay construction of an elementary and junior high school in Yokohama because of a “change in financial conditions,” it said ...
overseas investment review results due tomorrow (NZPA via Yahoo!Xtra News)
Changes to the overseas investment regime are expected to be outlined by the Government tomorrow.
Earnings Outlook: Investment banking to drive Credit Suisse earnings (Market Watch)
Credit Suisse is expected to kick off earnings season for European banks with another strong performance from its investment banking arm, though an accounting charge and the settlement of a court case will take the shine off the figures.
Sun Life Financial Reports Expansion of MFS Investment in U.S. (Bloomberg)
July 22 (Bloomberg) -- Sun Life Financial Inc., Canada’s third-biggest insurer, said it plans to hire staff to expand its MFS Investment Management business in the U.S.
BNY Mellon Profit Hit by $256 Million of Investment Writedowns (Bloomberg)
July 22 (Bloomberg) -- Bank of New York Mellon Corp., the world’s biggest custody bank, said investment losses rose 68 percent in the second quarter because of declines in residential real estate.
U.S. insurers to get 2nd-quarter investment boost (Reuters via Yahoo! News)
Investment gains are likely to boost valuations of U.S. property-casualty insurers when they report second-quarter results, after bruising investment losses marred recent quarters.
Piper swings to profit on strong investment banking (BizJournals)
Piper Jaffray Cos. said that a rebound in its investment banking business helped the company turn a profit in the second quarter, after a loss in the same period a year ago. (PJC)
Investment fund owner charged in $24M fraud (Chicago Tribune)
About $24 million from union pension funds went into the pocket of the president and co-owner of a Chicago investment firm instead of legitimate expenses or investments, federal authorities charged today. John A. Orecchio, 43, formerly of Arlington Heights , faces one count of wire fraud and one count of embezzling funds in the scheme that prosecutors claim took place between 2002 and September ...
Investment fund owner charges in $24M Ponzi scheme (Chicago Tribune)
About $24 million from union pension funds went into the pocket of the president and co-owner of a Chicago investment firm instead of legitimate expenses or investments, federal authorities charged today.
Investment Firm Office Manager Accused Of $1.7 Million Theft (Nasdaq)
A New Jersey woman has been arrested and indicted on charges she stole more than $1.7 million from the Manhattan-based private investment firm where she worked as the office manager.
N.J. Woman Stole $1.7 Million From Arcadia Investment (Update2) (Bloomberg)
July 22 (Bloomberg) -- A New Jersey woman stole more than $1.7 million from Arcadia Investment Partners, the Manhattan- based private investment firm where she was an office manager, and its affiliate Communication Investment Partners LLC, Manhattan District Attorney Robert Morgenthau said.
Final Glance: Investment Banks companies (AP via Yahoo! Finance)
Shares of some top investment banks companies were mixed at the close of trading: Goldman Sachs rose $.66 or .4 percent, to $160.46.
Deutsche Bank tourney sponsor defends investment (Sports Illustrated)
BOSTON (AP) -- Defending the bank's sponsorship of a golf tournament in a slumping economy, Deutsche Bank Americas CEO Seth Waugh said Wednesday that the event has been a good investment for the company while providing needed money for the charities and local businesses that depend upon it.
SEC plans 'pay-to-play' curbs on investment firms (AP via Yahoo! News)
Federal regulators on Wednesday proposed new rules to restrain investment firms from making political donations to state or local government officials with an eye toward winning pension plan or other public business.
SEC backs plan to curb investment firms' donations (USA Today)
Federal regulators on Wednesday proposed new rules to restrain investment firms from making political donations to state or local government officials with an eye toward winning pension plans or other public business.
Foreign investment regime simplified (NZPA via Yahoo!Xtra News)
The Government has simplified overseas investment rules and is looking to ease up other restrictions, Finance Minister Bill English said today.
National plans easing of foreign investment laws (TVNZ)
Auckland Airport could be sold to an international bidder under new overseas investment rules being considered by the government.
Investment banking arm boosts Credit Suisse (Financial Times)
Credit Suisse posted strong second-quarter earnings on the back of a standout performance by its investment banking arm, solidifying its position as one of the winners amid the fallout from the global financial crisis.
Chinalco in Talks on New Australian Mining Investment (Update4) (Bloomberg)
July 23 (Bloomberg) -- Aluminum Corp. of China , the state- controlled company whose $19.5 billion investment in Rio Tinto Group was rejected last month, held preliminary talks to invest in new mineral projects in Western Australia state.
East Africa: Niche Opportunity at Next Week's EAC Investment Conference (AllAfrica.com)
Kigali — Rwanda needs to grasp the golden opportunity and market the country's investment potential at the 2nd East African Investment Conference slated later this month in Kenya.