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August 21, 2008 8:43:56 PM CDT

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  • June 2007

    • Hong Kong Poised to Become Asia's Big Apple

      Newsweek  |  Jun 30, 07 7:12 PM CDT

      Hong Kong Poised to Become Asia's Big Apple

      (Newser) - Hong Kong is in decline as Asia's premier shipping hub, but the dip in dockyard activity is nothing to fret over, Newsweek reports. The city is on the brink of becoming one of the world's financial capitals—on par with London and New York. Economic shifts are reconfiguring the political landscape as well: a rising middle class is clamoring for cleaner air and universal suffrage.  More »

      Tags

      China  • stock market  • business  • finance  • democracy  • economics  • Hong Kong  • trade  • investment  • market capitalization

    • Bad US Loans Sink London Hedge Fund

      Financial Times (UK)  |  Jun 29, 07 4:26 AM CDT

      Bad US Loans Sink London Hedge Fund

      (Newser) -  A London hedge fund is the latest casualty of the US subprime mortgage crisis that has already hit American investment companies, the Financial Times reports. After losing 53% of its value, Caliber Global Investment will sell its assets and try to repay $900 million to investors over the next year. More »

      Tags

      subprime mortgages  • London  • business  • mortgage  • hedge fund  • investing

    • Fraud Case Against Mogul Goes to Jury

      Reuters  |  Jun 27, 07 5:59 PM CDT

      Fraud Case Against Mogul Goes to Jury

      (Newser) - The Conrad Black fraud case went to the jury today in Chicago, and the onetime press baron now awaits word on whether he'll walk free or face a decades-long prison sentence. The federal government contends that the ex-Hollinger chairman and three associates raided the company under the guise of complicated financial transactions, Reuters reports, pocketing millions of ill-gotten dollars. More »

      Tags

      Chicago  • business  • fraud  • trial  • Conrad Black  • Hollinger

    • Murdoch Says $5B Is Final Offer for Dow Jones

      Reuters  |  Jun 27, 07 4:09 PM CDT

      Murdoch Says $5B Is Final Offer for Dow Jones

      (Newser) - Rupert Murdoch won't raise his $5B bid for Dow Jones, the media mogul said today. Murdoch deflected speculation that he would up the ante to move along negotiations with the openly skeptical Bancroft family, which owns a majority stake in the Journal publisher. Instead, Reuters reports, Murdoch is suggesting he could balk if the Bancrofts dither. More »

      Tags

      Dow Jones  • business  • Rupert Murdoch  • News Corp  • Wall Street Journal  • acquisitions  • merger  • Bancroft family

    • Chill Spreads to Durable Goods

      Bloomberg  |  Jun 27, 07 10:16 AM CDT

      Chill Spreads to Durable Goods

      (Newser) - Orders for durable goods nosedived in May, suggesting that sunny forecasts for business spending may be overly optimistic. The 2.8% drop, the first decline in 4 months, nearly tripled the predicted 1% dip, Bloomberg reports. Excluding the volatile transportation sectors, the figure was off 1%, Commerce Department stastics released today showed, against a projected .2% rise. More »

      Tags

      US economy  • business  • consumer  • economic growth  • durable goods

    • Debt Market Booms, Risk Climbs

      Wall Street Journal  |  Jun 26, 07 4:11 PM CDT

      Debt Market Booms, Risk Climbs

      (Newser) - The undergirding of the current buyout boom is a dicey financing method called collateralized loan obligations—giant pools of bank loans packaged together by Wall Street and sold off in slices to investors, spreading the risk of default. The Journal reports that the  CLO glut is ushering in an age of overborrowing that could cripple buyout firms, and the economy, in the future. More »

      Tags

      US economy  • business  • buyout  • loans

    • Murdoch Kowtows to China

      New York Times  |  Jun 26, 07 8:45 AM CDT

      Murdoch Kowtows to China

      (Newser) - Rupert Murdoch's imperial ambitions in China have been marked by relentless cozying to its communist regime—motivated by equal parts opportunism and sinophilia—the Times reports. Murdoch's China outlets have toed the party line energetically, and the mogul, whose wife is a high-powered mainlander, has even personally lashed the Dalai Lama. More »

      Tags

      China  • Dow Jones  • business  • Rupert Murdoch  • Wall Street Journal

    • High Court Raises Bar for Investors' Suits

      New York Times  |  Jun 21, 07 3:14 PM CDT

      High Court Raises Bar for Investors' Suits

      (Newser) - Investors who accuse companies of fraud based on executives' misdeeds must show that they acted intentionally, the Supreme Court ruled today, making it easier for corporations to have shareholder lawsuits dismissed. The decision helps protect companies against frivolous suits by clarifying a 1995 law, the Times reports, but critics say the existing limits are sufficient. More »

      Tags

      lawsuit  • football  • US Supreme Court  • business  • high school  • investors  • shareholders  • free speech  • sentencing  • telecom

    • Morgan Stanley 2nd Quarter Wallops Rivals

      Bloomberg  |  Jun 20, 07 10:23 AM CDT

      Morgan Stanley 2nd Quarter Wallops Rivals

      (Newser) - Morgan Stanley released far better-than-expected earnings figures today, with net income up over 40% in the last quarter. Riding strong fixed-income sales and trading figures, profits rose to $2.58 billion, up from $1.84 billion last year. That's a far cry from rivals Goldman Sachs and Bear Stearns, whose second-quarter bottom lines were hit hard by the collapse of the subprime mortgage market. More »

    • Outlook Bearish for Bear Sterns Hedge Funds

      Wall Street Journal  |  Jun 20, 07 7:02 AM CDT

      Outlook Bearish for Bear Sterns Hedge Funds

      (Newser) - Two major Bear Stearns hedge funds that once controlled more than $20 billion in assets are on the brink of collapse after disastrous losses in securities backed by subprimes. The Journal reports a bailout plan that would have kept the funds afloat fractured last night, and the consequences could ripple through the mortgage market in the weeks ahead. More »

      Tags

      subprime mortgages  • business  • Bear Stearns  • Merrill Lynch  • hedge fund  • Goldman Sachs  • Bank of America

    • Gambling Firm Agrees to Buyout

      Bloomberg  |  Jun 15, 07 4:08 PM CDT

      Gambling Firm Agrees to Buyout

      (Newser) - The casino-operator buyout spree continued today as Penn National Gaming agreed to be acquired by two private-equity firms for $8.9 billion. The deal, which allows the company to solicit bids for 45 days, includes $2.8 billion in debt. News of the $67-a-share offer, a 31% premium over yesterday's closing price, drove the stock up to $62.12 at close. More »

      Tags

      business  • stocks  • acquisitions  • private equity  • casino  • privatization  • Harrah's  • Fortress Investment Group

    • World's Top 50 Business Centers

      Mastercard  |  Jun 14, 07 8:20 PM CDT

      World's Top 50 Business Centers

      (Newser) - London New York Tokyo Chicago Hong Kong More »

      Tags

      list  • Chicago  • New York  • London  • business  • Hong Kong  • Tokyo

    • Mortgage Trouble Rattles Wall Street

      Bloomberg  |  Jun 14, 07 10:54 AM CDT

      Mortgage Trouble Rattles Wall Street

      (Newser) - Bear Stearns posted a 10% drop in quarterly earnings today, the latest victim of the subprime collapse. The country's second-largest mortgage-bond underwriter posted profits well below expectations, down nearly 33% from last year to $362 million. Goldman Sachs escaped bruised but more-or-less unscathed, with profits up 1% on the strength of its banking division. More »

      Tags

      US economy  • subprime mortgages  • business  • Bear Stearns  • earnings reports  • Goldman Sachs  • finance  • investment bank  • equity trading

    • Disney Goes Native in New Markets

      Wall Street Journal  |  Jun 11, 07 7:19 AM CDT

      Disney Goes Native in New Markets

      (Newser) - The Walt Disney Co., failing in its efforts to sell American product in foreign markets, is retooling its overseas strategy to partner with local players.  With an eye on five enormous markets—India, China, Latin America, Russia, and South Korea—the entertainment icon is abandoning its go-it-alone approach to produce television, film and merchandise customized for local tastes. More »

      Tags

      business  • entertainment  • marketing  • Walt Disney Co.  • Bollywood  • partnership  • foreign market

    • Happy Hour Irks Korean Women

      New York Times  |  Jun 10, 07 11:07 AM CDT

      Happy Hour Irks Korean Women

      (Newser) - South Korean women are trying to put a lid on company-enforced binge drinking. As more women climb the corporate ladder, they're fighting back against the male-centric business culture that demands binging to get ahead, the New York Times reports. In a country where an estimated 90% of company events are alcohol-based and job interviews include questions on drinking, that's shaking things up. More »

      Tags

      business  • women  • South Korea  • alcohol  • binge drinking  • corporate culture

    • Hot LBO Market Takes Hit

      Wall Street Journal  |  Jun 8, 07 9:40 AM CDT

      Hot LBO Market Takes Hit

      (Newser) - The red-hot market for LBOs may be hitting a long-awaited rough patch. Several big deals—including Apollo's $1.3 billion Linens 'n Things buy and the multigroup $17.6 billion acquisition of Freescale Semiconductor Holdings—have turned sour, with the companies struggling to generate enough cash to pay down debt after soft quarters. More »

      Tags

      US economy  • business  • acquisitions  • merger  • debt  • privatization  • takeovers  • LBOs  • leveraged buyouts  • Avista Capital Partners

    • Next World Bank Prez Meets World

      Reuters  |  Jun 5, 07 11:33 AM CDT

      Next World Bank Prez Meets World

      (Newser) - Former trade rep Robert Zoellick embarked on a world tour yesterday, in advance of his likely ascension to president of the World Bank this month. Zoellick will stop in Africa to visit the bank's largest beneficiaries, and Europe to schmooze with its largest donors. "I want to leave no stone unturned," he said. More »

      Tags

      business  • money  • bank  • World Bank  • Paul Wolfowitz  • Robert Zoellick  • donor  • crisis

    • China's Stock Market Drops 8%

      Financial Times (UK)  |  Jun 4, 07 1:20 PM CDT

      China's Stock Market Drops 8%

      (Newser) - China's stock market plummeted more than 8% today in one of the biggest drop-offs of the decade. A trading tax increase intended to cool a boom that drove stocks up over 50% last week has set off widespread worry. But unlike the February 28 skid that depressed worldwide markets, today's slump appeared to have little effect on other Asian exchanges. More »

      Tags

      China  • business  • stocks  • taxes  • Chinese stock market  • trading  • Shanghai Composite Index

    • Murdoch Says He's Flexible, Up to a Point

      Wall Street Journal  |  Jun 4, 07 8:29 AM CDT

      Murdoch Says He's Flexible, Up to a Point

      (Newser) - Rupert Murdoch has renewed his vow to maintain the Wall Street Journal 's editorial independence should his bid for Dow Jones succeed, but it's unlikely he'll allow the controlling Bancroft family to run an editorial oversight board. That sticking point could be a deal-breaker, the Journal reported hours before today's scheduled meeting between the parties. More »

      Tags

      Dow Jones  • business  • Rupert Murdoch  • News Corp  • Wall Street Journal  • acquisitions  • merger  • Bancroft family

  • May 2007

    • Zoellick Vows to Mend World Bank

      Reuters  |  May 31, 07 7:37 AM CDT

      Zoellick Vows to Mend World Bank

      (Newser) - Robert Zoellick knows he has his work cut out for him, and he says he will try to "calm the waters" if he is confirmed as World Bank president. "This institution has been through a traumatic period and there is a lot of anxiety, some frustration and anger," says the designated successor to Paul Wolfowitz. More »

      Tags

      business  • Goldman Sachs  • bank  • World Bank  • Paul Wolfowitz  • Robert Zoellick

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