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Investment News 09/2009



China's CDB launches $5.1 bln investment arm-paper (Reuters via Yahoo! Malaysia News)
SHANGHAI, Sept 1 (Reuters) - State-owned China Development Bank has set up an investment arm with 35 billion yuan ($5.1 billion) in registered capital as it will focus on private equity deals, the official Financial News reported on Tuesday.
K Sera Sera board Oks investment in Indian Premier League (Reuters via Yahoo! Philippines News)
MUMBAI, Sept 1 (Reuters) - K Sera Sera Productions Ltd said on Tuesday its board has approved investment of surplus funds in the Indian Premier League by buying a franchise of popular league team, coming up for bidding soon.
Australia Clears Way For Final Investment Decision On Gorgon JV (Nasdaq)
CANBERRA -(Dow Jones)- Australian Prime Minister Kevin Rudd said Tuesday that regulators have approved five production licenses for the giant Gorgon gas project offshore of Western Australia, clearing the way for a final investment decision by the project's joint venture partners.
Commerzbank Seeks Top Investment Banking Spot, Handelsblatt Says (Bloomberg)
Sept. 1 (Bloomberg) -- Commerzbank AG aims to overtake Deutsche Bank AG, Goldman Sachs Group Inc. and Morgan Stanley to become the biggest investment bank in Germany, Handelsblatt reported, citing an interview with board member Michael Reuther.
Lakewood joins foreign investment program (Tacoma News Tribune)
Lakewood is now the sixth Washington city to participate in a federal immigration program that encourages job creation through foreign investment.
Investment Bank Cuts LabCorp Stock Outlook (GenomeWeb News)
A prominent investment bank has downgraded LabCorp’s stock for the “potential for slowing growth” in the second half of 2010. In July, LabCorp said second-quarter revenue increased 3.6 percent to around $1.2 billion atop a 2.4-percent rise in testing volume, and said it expects 2009 revenue to grow by 4 percent over 2008.
Investment committee to submit report by Sep-end (Business Standard India)
The committee set up to look into the issue of regulating investment advice would submit its report to the government by the month end.
WAISC 09, Canada's Largest Alternative Investment Conference, Set for September 14-16 (ITNews)
TORONTO, September 1 /PRNewswire/ -- Canadian Hedge Watch Inc. (CHW) presents its 8th annual World Alternative Investment Summit Canada (http://www.waisc.com), taking place September 14-16, 2009, at Fallsview Casino Resort in Niagara Falls, Ontario.
S3 Investment Company Announces Formation of Redwood Group International to Accommodate Expanding Subsidiary Business ... (Marketwire)
DANVILLE, CA--(Marketwire - September 1, 2009) - S3 Investment Company, Inc. ( PINKSHEETS : SIVC ) and its wholly owned Redwood Capital subsidiary today announced the formation of Redwood Group International, which will expand the structure of S3's subsidiary businesses to allow the company to pursue additional opportunities in the China market. Redwood Group International is a company ...
China Development Bank Forms Investment Fund (New York Times)
China Development Bank, the state-controlled lender, said Tuesday that it was forming a 35 billion yuan ($5.1 billion) investment fund.
Midday Glance: Investment Banks companies (AP via Yahoo! Finance)
NEW YORK (AP) -- Shares of some top investment banks companies are down at noon: Goldman Sachs fell $2.44 or 1.5 percent, to $163.02. Morgan Stanley fell $1.06 or 3.7 percent, to $27.90.
Final Glance: Investment Banks companies (AP via Yahoo! Finance)
NEW YORK (AP) -- Shares of some top investment banks companies were down at the close of trading: Goldman Sachs fell $5.29 or 3.2 percent, to $160.17. Morgan Stanley fell $1.51 or 5.2 percent, to $27.45.
Former Local Investment Advisor Sentenced (WCPO Cincinnati)
William Appleton pleaded guilty in March to crimes involving investment firms he ran in Cincinnati between 2003 and 2007.
Former Local Investment Advisor Sentenced (The Kentucky Post)
The hammer came down Tuesday on former Cincinnati investment adviser William Appleton, who is now living in Seattle. A federal judge in Dayton sentenced Appleton to eight years in prison for mail fraud and income tax evasion.
SENTIMENT STONGER FOR ASIAN PROPERTY INVESTMENT MARKET (Thaipr.net)
The Asian property investment market enjoyed a stronger second quarter of 2009 following a subdued start to the year, with direct real estate investment volume edging up 41% from the first quarter, ac
Azure Dynamics to Present at the Rodman Renshaw Annual Global Investment Conference on September 11 (The Auto Channel)
OAK PARK, MI, Sept. 1 -- Azure Dynamics Corporation (TSX: AZD), a leading developer of state-of-the-art green technologies that address environmental and cost issues for the commercial transportation industry, today announced that it will present at the upcoming Rodman Renshaw Annual Global Investment Conference, to be held September 9-11, 2009, at the New York Palace Hotel in New York City. The ...
Dubai investment firm says it is committed to Barneys New York after report raises doubts (The San Francisco Examiner)
NEW YORK — Dubai investment firm Istithmar PJSC on Tuesday said it is "fully committed" to Barneys New York after a news report suggested the luxury chain it bought in 2007 might need to restructure its debt or even file for bankruptcy protection in order to stay afloat.
Rothschild Said to Start Investment Fund; Chairman’s Son Joins (Bloomberg)
Sept. 2 (Bloomberg) -- Rothschild, the largest family-owned bank, plans to raise a 500 million-euro ($711 million) investment fund as chairman David de Rothschild’s son joins the firm, two people familiar with the plan said.
Romania 2Q Investment Falls 29% On Year To RON14B - Mediafax (The Forex Market)
BUCHAREST (Dow Jones)--Investment in Romania fell 29% on the year in the second quarter to 14 billion lei ($4.76 billion), mainly due to a halving in equipment and vehicle investment, according to an estimate Wednesday by the National Statistics Institute, news agency Mediafax reports.
Rothschild Said to Start Investment Fund; Chairman’s Son Joins (Bloomberg)
Sept. 2 (Bloomberg) -- Rothschild, the largest family-owned bank, plans to raise a 500 million-euro ($711 million) investment fund as chairman David de Rothschild’s son joins the firm, two people familiar with the plan said.
Discovery to Grow Investment Arm’s Assets by 138% (Update1) (Bloomberg)
Sept. 2 (Bloomberg) -- Discovery Holdings Ltd. , the administrator of South Africa’s biggest medical insurer, wants to grow the assets of its investment arm by 138 percent by the end of next year, according to its chief executive officer.
Home investment loses 11 per cent (The Australian)
RESIDENTIAL property investment plunged by nearly 11 per cent during the 2009 financial year.
Cardiff set for mega-bucks Far East investment as Ridsdale seeks deal (Daily Mail)
Cardiff chairman Peter Ridsdale has jetted back out to the Far East to tie up potential mega-bucks investment in the Championship club. Ridsdale hopes to seal a lucrative deal.
Early Glance: Investment Banks companies (AP via Yahoo! Finance)
NEW YORK (AP) -- Shares of some top investment banks companies are mixed at 10 a.m.: Goldman Sachs fell $.15 or .1 percent, to $160.02. Morgan Stanley rose $.16 or .6 percent, to $27.61.
Ropes & Gray Hires Investment Fund Partner (New York Times)
The law firm Ropes & Gray said Wednesday that it has hired Michael J. Guilday as a partner in its Hong Kong office, specializing in private investment funds and hedge funds.
BMO Analyst de Verteuil Leaving for CPP Investment Board (Bloomberg)
Sept. 2 (Bloomberg) -- Ian de Verteuil , a Canadian bank analyst at BMO Capital Markets, is leaving to join the Canada Pension Plan Investment Board. De Verteuil’s coverage will be taken over by John Reucassel , who provides research on Canadian insurers and asset managers, BMO Capital spokeswoman Kim Hanson said today.
Appleton sentenced for investment scam (Cincinnati Business Courier)
William Appleton, who stole more than $5 million from clients while operating two local investment firms, was sentenced to more than 13 years in jail by the U.S. District Court in Dayton on Tuesday.
Midday Glance: Investment Banks companies (AP via Yahoo! Finance)
NEW YORK (AP) -- Shares of some top investment banks companies are mixed at noon: Goldman Sachs fell $.97 or .6 percent, to $159.20. Morgan Stanley rose $.23 or .8 percent, to $27.68.
Credit Suisse Investment Bank Chief Treated for Illness (New York Times)
Credit Suisse said Wednesday that Paul Calello, chief executive of its investment bank for the last two years, is undergoing treatment for a “sudden and unexpected illness” and that Eric Varvel, an executive based in London, would become the investment bank’s acting chief executive.
Gold Gains Most Since March on Investment Demand; Silver Rises (Bloomberg)
Sept. 2 (Bloomberg) -- Gold rose the most in more than five months as slumping global equity markets and a weakening dollar spurred demand for the precious metal as an alternative investment. Silver touched an 11-week high.
Final Glance: Investment Banks companies (AP via Yahoo! Finance)
NEW YORK (AP) -- Shares of some top investment banks companies were down at the close of trading: Goldman Sachs fell $1.63 or 1.0 percent, to $158.54. Morgan Stanley fell $.36 or 1.3 percent, to $27.09.
Credit Suisse Investment-Bank Chief Calello Treated for Cancer (Bloomberg)
Sept. 3 (Bloomberg) -- Credit Suisse Group AG said Paul Calello , chief executive officer of the company’s investment bank, is undergoing treatment for cancer.
V8 investment 'more than justified' (ABC via Yahoo!7 News)
Queensland Premier Anna Bligh says newly released figures more than justify the State Government's investment in this year's V8 Supercar race in Townsville in the state's north.
China and its Perplexing Investment Strategy (The Daily Reckoning)
But let's start with sovereign wealth fund of China, the China Investment Corporation (CIC). CIC was set up in 2007 with US$200 billion of China's nearly $2 trillion foreign exchange reserves. It's been shopping ever since, with mixed results. Last year, for example, CIC stood pat and only invested US$4.8 billion outside China.
More private investment (Straits Times)
BEIJING - CHINA is planning to seek more private investment in an apparent bid to balance its path to economic recovery, which so far has relied heavily on government spending, state media said on Thursday. The National Development and Reform Commission, China's top economic planning agency, has submitted draft rules on the issue to the State Council, or cabinet, the Shanghai Securities News ...
China to seek more private investment: state media (AFP via Yahoo! News)
China is planning to seek more private investment in an apparent bid to balance its path to economic recovery, which so far has relied heavily on government spending, state media said Thursday.
Woori Denies It Is Close to Blackstone Investment (New York Times)
Woori Finance Holdings has denied a report that said it was close to investing about $300 million in a private equity fund Blackstone is raising, Bloomberg News reported. Woori also said it suspended reviewing the investment until further notice.
Early Glance: Investment Banks companies (AP via Yahoo! Finance)
NEW YORK (AP) -- Shares of some top investment banks companies are up at 10 a.m.: Goldman Sachs rose $1.50 or .9 percent, to $160.04. Morgan Stanley rose $.41 or 1.5 percent, to $27.50.
Platinum, Palladium Gain, Following Gold, on Investment Demand (Bloomberg)
Sept. 3 (Bloomberg) -- Platinum and palladium gained, following gold and silver higher, as a weaker dollar increased investment demand for precious metals as a store of value.
EPF posts RM4.8b Q2 investment income (Business Times (Malaysia))
THE Employees Provident Fund (EPF)recorded an investment income of RM4.8 billion in the second quarter of 2009, as investments in equities raked in better returns.
Partnership rules to draw investment (Business Times (Malaysia))
HONG KONG: China plans to issue new rules to allow foreign companies to set up local units in the form of a locally registered partnership, in a landmark move to attract investment, a legal document seen by Reuters showed yesterday.
Investment banks on Asia hiring campaign (Financial Times)
Investment banks are moving to increase headcount in China and India in anticipation of rising deal flows fuelled by strong growth rates in Asia’s largest developing economies.
Add Value With Active Investment Management (Investopedia via Yahoo! Finance)
Learn which investment management strategies work best for you and your portfolio.
Platinum, Palladium Gain, Following Gold, on Investment Demand (Bloomberg)
Sept. 3 (Bloomberg) -- Platinum and palladium gained, following gold and silver higher, as a weaker dollar increased investment demand for precious metals as a store of value.
Treasury Pick Owes at Least $10.5 Million on Investment Deals (Bloomberg)
Sept. 3 (Bloomberg) -- Jeffrey Goldstein , the private- equity executive nominated as Treasury undersecretary, is obligated to pay at least $10.5 million to several investment partnerships, according to an ethics filing.
Final Glance: Investment Banks companies (AP via Yahoo! Finance)
NEW YORK (AP) -- Shares of some top investment banks companies were up at the close of trading: Goldman Sachs rose $3.12 or 2.0 percent, to $161.66. Morgan Stanley rose $.56 or 2.1 percent, to $27.65.
Economic Report: Japanese business investment dips in spring (Market Watch)
Business investment in Japan falls 21.7% for the April-June quarter compared to the same period last year, while corporate sales and profits also mark declines.
China Power Investment To Sell CNY2.9 Billion 3-Year Notes Wed (Nasdaq)
SHANGHAI -(Dow Jones)- China Power Investment Corp. said Friday it plans to sell CNY2.9 billion ($424.5 million) worth of three-year notes on the interbank market Wednesday.
Investment-Grade Bonds Asia’s ‘Sweet Spot,’ Morgan Stanley Says (Bloomberg)
Sept. 4 (Bloomberg) -- Investment-grade Asian corporate bonds are a safe haven for investors amid stock market turbulence and uncertainty about the region’s economic recovery, according to Morgan Stanley.
EPF’s 2Q investment income up 47% (The Edge Daily)
KUALA LUMPUR: The Employees Provident Fund’s (EPF) investment income for the second quarter (2Q09) rose 46.6% to RM4.8 billion from RM3.27 billion in the previous quarter, mainly due to improved performance in its equities portfolio.