Rajaratnam gets 11-year sentence

AppId is over the quotaAppId is over the quota Galleon hedge fund founder Raj Rajaratnam departs Manhattan Federal Court after his sentencing in New York October 13, 2011. Credit: Reuters/Lucas JacksonBy Grant McCoolNEW YORK | Fri Oct 14, 2011 9:04am BST NEW YORK (Reuters) - Raj Rajaratnam, a self-made hedge fund tycoon convicted in the biggest Wall Street trading scandal in a generation, was ordered to serve 11 years in prison, the longest sentence ever in an insider-trading case but far less...

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Five buy-out firms to bid for Iceland - sources

AppId is over the quotaAppId is over the quota By Victoria Howley and Simon MeadsLONDON | Thu Oct 20, 2011 9:57am BST LONDON (Reuters) - At least five private equity firms are set to submit first-round non-binding offers for a 77 percent stake in British frozen food retailer Iceland Foods by Wednesday's deadline, four people familiar with the matter said.Iceland Foods' CEO and key investor Malcolm Walker is thinking about bidding for the company later in the process, with backing from pensions funds and sovereign wealth, three of the people said.Analysts expect a winning offer to value Iceland...

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China private equity firm CSM plans new $1 billion fund

AppId is over the quotaAppId is over the quota By Sudip Kar-GuptaLONDON | Thu Oct 20, 2011 9:59am BST LONDON (Reuters) - Chinese private equity firm China Science & Merchants (CSM) announced a global fund-raising for a new $1 billion (636 million pounds) fund that will be its first one open to non-Chinese investors and is aimed at raising CSM's profile overseas.EME Capital is the global co-ordinator and advisor on the fund-raising, and the companies said on Thursday that CSM had already received positive feedback from Gulf-based firms over the new fund and would meet European investors in...

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Private banker pay stumbles as bonuses dive

AppId is over the quotaAppId is over the quota By Chris Vellacott and Martin de Sa'PintoLONDON/ZURICH | Mon Oct 17, 2011 10:51am BST LONDON/ZURICH (Reuters) - The personal bankers to Europe's richest families are taking home much smaller bonuses as their employers tighten the purse strings to meet the costs of broader regulation and a prolonged dip in client revenues.While bonus awards were once based mainly on individual performance, more banks are now focusing on overall profits, which have been battered by rock-bottom interest rates and low client activity, industry insiders and headhunters...

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UK dividend payouts at post-Lehman quarterly high

AppId is over the quotaAppId is over the quota By Simon JessopLONDON | Mon Oct 17, 2011 6:39am BST LONDON (Reuters) - Payouts to shareholders by cash-rich UK firms passed 20 billion pounds in the third quarter, for the first time since the collapse of Lehman Brothers in late 2008, as a weak economy crimped their dealmaking and investment spending.While the pace of dividend growth is expected to slow towards the end of the year and into 2012, weighed by a hazy growth outlook, the robust nature of many corporate balance sheets should continue to act as support, Capita Registrars, a unit of Capita...

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Colombia-U.S. trade agreement helps China?

AppId is over the quotaAppId is over the quota Hong Kong (CNN) – Colombia’s free trade agreement with the U.S. creates opportunities for Chinese businesses getting squeezed out of the North American market by the ongoing trade disputes between the world’s two largest economies.For China, this is the opportunity to get goods relabeled as Colombian and enter the U.S. with zero tariffs. And as businessmen think about the new possibilities, many are rushing to rewrite business plans.“The Chinese have their eyes on Colombia because it is the bridge they need to reach the U.S.,” José Antonio Mutis,...

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Study: Women ask for raises, but aren’t heard

AppId is over the quotaAppId is over the quota (CNN) – A new Catalyst study examining career advancement strategies has debunked the myth that women make less because they don’t ask—they do, they just aren’t being heard.According to the study, men who employ traditional career advancement strategies—such as making your willingness to put in time and effort known and accepting challenges—are more likely to be rewarded, in the form of promotions or pay raises, than men who don’t.However, women who adopted these strategies were not much more likely to advance than women who didn’t.“This study busts...

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Inside the Man United Machine

AppId is over the quotaAppId is over the quota By Tariq Panja Getty Images (10); Reuters In December of 2009 an unexpected package arrived at the headquarters of Concha y Toro, the 127-year-old winemaker in Santiago, Chile. Inside was an ornate box lined with black silk and holding a leather football. The Concha y Toro insignia was stenciled on the ball, next to that of the sender’s: Manchester United. Accompanying the gift was a book explaining the financial benefits of a partnership between...

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EXCLUSIVE-TPG Capital prepares $4-5 billion Asia fund

AppId is over the quotaAppId is over the quota By Stephen AldredHONG KONG | Fri Oct 14, 2011 10:47am BST HONG KONG (Reuters) - Global private equity firm TPG Capital is preparing to launch a $4-5 billion fund in mid October to invest in Asia, which would be the largest fund focused on the region since the global downturn, two sources said.TPG, a U.S.-based firm founded in 1992, currently invests in Asia from a $19.8 billion global fund and its $4.25 billion regional fund TPG Capital Partners V, which both raised their investment capital in 2008.The news suggests investors have told TPG they have...

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Tweeting farmers bridge gap between farm, table

AppId is over the quotaAppId is over the quota When Wayne Black is finished tapping out his latest tweet, he puts his iPad back in the tool box on his tractor or slides it down beside his seat.The tweeting started after he began using "the toys that made us more mobile." But for the southwestern Ontario farmer, there's nothing flip or fanciful about dashing off a 140-character missive about his corn or soybean harvest.Like more and more farmers across Canada, Black has found that Twitter has become,...

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BlackRock profit rises on ETF demand

AppId is over the quotaAppId is over the quota n">(Reuters) - BlackRock, the world's largest asset manager, said its third-quarter profit increased 8 percent as investors sought out the firm's exchange-traded funds despite tough market conditions.New York-based BlackRock said earnings were $595 million, or $3.23 a share, compared with $551 million, or $2.83 per share, a year earlier.Excluding some nonoperating income and expenses, BlackRock earned $2.83 a share. On that basis, analysts on average expected $2.63, according to Thomson Reuters I/B/E/S.While individual investors withdrew money...

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Alberta dumps millions in big tobacco shares

AppId is over the quotaAppId is over the quota Alberta is being lauded by anti-smoking and social investment groups for being the first province to dump its investments in the tobacco industry.The Alberta Investment Management Corp. has sold $17.5 million in directly managed stock held by public sector pension funds and the Alberta Heritage Savings Trust Fund.Alberta no longer directly owns shares in cigarette makers like JTI-Macdonald, though it still has some indirect holdings. Courtesy Industry...

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Madoff book paints son Mark as victim

AppId is over the quotaAppId is over the quota The son of disgraced financier Bernard Madoff swallowed a batch of sleeping pills in a failed suicide attempt 14 months before he killed himself on the second anniversary of his father's arrest in the biggest financial fraud in American history, according to a new book by his widow."The End of Normal: A Wife's Anguish, A Widow's New Life" gives an intimate account of Mark Madoff's two years of torment over the infamous swindle that wiped out thousands...

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BlackRock keeps expenses in check

AppId is over the quotaAppId is over the quota n">(Reuters) - BlackRock's third-quarter profit increased 8 percent as investors sought out the firm's exchange-traded funds despite tough market conditions.The world's largest asset manager said on Wednesday earnings rose to $595 million, or $3.23 a share, from $551 million, or $2.83 per share, a year earlier.BlackRock (BLK.N) earned $2.83 a share excluding a tax benefit, costs for exiting leases and some compensation plans. On that basis, analysts on average expected $2.63, according to Thomson Reuters I/B/E/S.Chief Executive Officer Laurence...

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'Margin Call' Sheds Light On Wall Street Meltdown

AppId is over the quotaAppId is over the quota Margin Call is based on the financial collapse of 2008. The firm in the movie is so over-committed to risky real estate loans that it owes more money than the company is worth. The cast includes Kevin Spacey, Demi Moore, Jeremy Irons and Stanley Tucci.Copyright © 2011 National Public Radio®. For personal, noncommercial use only. See Terms of Use. For other uses, prior permission required.RENEE MONTAGNE, host: The global financial crisis of 2008 has a lot of dramatic potential. It propelled the Oscar-winning documentary "Inside Job" and HBO's movie...

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PIMCO's Gross admits he struck out on bonds this year

AppId is over the quotaAppId is over the quota By Jennifer AblanNEW YORK | Mon Oct 17, 2011 10:02am BST NEW YORK (Reuters) - Bill Gross, manager of the world's largest bond fund, apologized to his investors late Friday for his poor performance, saying "I'm just having a bad year."In a Special Edition letter posted on PIMCO's website, Gross, who runs the $242 billion PIMCO Total Return portfolio, wrote that he underestimated the contagion effect from the Europe debt crisis and the U.S. debt ceiling debacle."As Europe's crisis and the U.S. debt ceiling debacle turned developed economies towards...

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Ikea Owner to Develop Homes Near Olympics

AppId is over the quotaAppId is over the quota October 21, 2011, 7:47 AM EDT By Simon Packard (Changes headline.)Oct. 21 (Bloomberg) -- The owner of the Ikea retail franchise said it has “billions” of pounds to spend as it starts an expansion into the U.K.’s homebuilding and real-estate development market.Inter Ikea Holding SA’s LandProp unit has acquired several hundred hectares near London to build 10,000 homes, Managing Director said in an interview yesterday. The company has also purchased a 50-hectare (124-acre) site in Suffolk for a non- residential project in partnership with the separate...

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France And Germany: A Love Story

AppId is over the quotaAppId is over the quota France and Germany are trying to come up with a bailout plan for Europe. This isn't the first time they've fought over money.Like any bickering couple, they've spent centuries fighting over finances. In fact, the history of their relationship is so dramatic — so theatrical — it's best to tell it in song.(Read the lyrics, and see the credits, here.)Our story begins in 1870.France and Germany — aka Prussia — were an unlikely couple. France was a glittery...

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Disability savings plan hits home for Flaherty

AppId is over the quotaAppId is over the quota There was an initial attempt to contain the tears. When that failed, there was a brief foray at concealing them from the cameras.Finally, there was no hiding them or holding them back. The finance minister, who is thought to be one of the tough guys in Stephen Harper's cabinet, wept unabashedly during what might have seemed a routine announcement.Jim Flaherty was clearly affected Friday while announcing a government review of the Registered Disability Savings Plan. That emotion undoubtedly sprung from a personal connection to the announcement.The...

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Cost of Thai floods greater than political unrest

AppId is over the quotaAppId is over the quota (CNN) – The floods in Thailand may cost the country more than tumultuous political uprisings did last year, as officials revise GDP growth expectations and maintain interest rates.The Thai economy is now expected to grow less than 3% this year, down from previous estimates that put growth at around 4%, according to the Governor of the Bank of Thailand, Prasarn Trairatvorakul. This translates into shrinking 1.1% in the fourth quarter from a year earlier, Finance Minister Thirachai Phuvanatnaranubala told Reuters. Interest rates will remain unchanged...

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Southern European Banks Scramble for Savers

AppId is over the quotaAppId is over the quota October 20, 2011, 6:23 PM EDT By Charles Penty and Sonia Sirletti Oct. 21 (Bloomberg) -- Spanish fireman Antonio Casado kept 80,000 euros ($110,000) in cash at Banco Popular Espanol SA for a year and was looking for a place to put it. He had no shortage of offers.The Popular branch manager in Madrid tried to sell him a 10-year subordinated bond paying 8.25 percent, Casado, 41, said in an interview. Other options include commercial paper sold by Bankia SA or two-year Spanish government notes that pay about 4 percent.“There are so many offers on savings...

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Metro Bank to build private banking team

AppId is over the quotaAppId is over the quota LONDON | Wed Oct 19, 2011 11:41am BST LONDON (Reuters) - Metro Bank, which launched a year ago as Britain's first new high-street lender in more than 100 years, announced plans to build up a private banking team, as it takes aim at bigger rivals hit by the financial crisis.Metro Bank said on Wednesday that it had hired Kirsty MacArthur as its new private banking head.MacArthur, who joins from Heartwood Wealth Management and has also worked at Switzerland's UBS (UBSN.VX) and private bank Coutts, has been given a brief to develop Metro's services for...

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TSX holds early gains

AppId is over the quotaAppId is over the quota Higher commodity prices and a strong inflation report accompanied a triple-digit gain on the Toronto Stock Exchange on Friday.The S&P/TSX composite index closed up 119 points, or one per cent, to 11,949. It had earlier been roughly 150 points higher earlier in the day.The main data on Friday was a Statistics Canada report released at 7 a.m. ET that showed consumer prices increased at an annual pace of 3.2 per cent over the 12 months ended in September.The loonie gained almost half a cent immediately following the news, and stayed at that level...

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'Miscommunication' led to Heartland mix-up

AppId is over the quotaAppId is over the quota The province now says only two major electrical transmission line projects will be put on hold, not three as initially announced Friday.In a letter to the Alberta Utilities Commission, Energy Minister Ted Morton stated that the government "is reviewing its approach" to the projects.The projects under review are the Western Alberta Transmission Line through the Calgary-Edmonton corridor, and the Eastern Alberta Transmission Line from northeast of Edmonton...

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BlackRock profit rises on ETF demand

AppId is over the quotaAppId is over the quota n">(Reuters) - BlackRock, the world's largest asset manager, said its third-quarter profit increased 8 percent as investors sought out the firm's exchange-traded funds despite tough market conditions.New York-based BlackRock said earnings were $595 million, or $3.23 a share, compared with $551 million, or $2.83 per share, a year earlier.Excluding some nonoperating income and expenses, BlackRock earned $2.83 a share. On that basis, analysts on average expected $2.63, according to Thomson Reuters I/B/E/S.While individual investors withdrew money...

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A Bid To Bring Foreign Buyers To The Housing Market

AppId is over the quotaAppId is over the quota Enlarge Elaine Thompson/AP A home in Seattle is advertised for sale in January. A housing boom 140 miles north in Vancouver, British Columbia, is being fueled by buyers from India and China, while building remains at a standstill in Seattle, one housing expert says. Elaine Thompson/AP A home in Seattle is advertised for sale in January. A housing boom 140 miles north in Vancouver, British Columbia, is being fueled by buyers from India and China, while...

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