Citigroup Inc is adding risk to its Asian portfolio on expectations of a recovery in the region’s stock markets later this year, with China likely to be the “biggest winner.” The brokerage cut utility stocks to “underweight” and trimmed its “underweight” in property shares, according to a June 25 report by strategists led by Markus [...]
Goldman Sachs Group Inc’s $2 billion Hudson Mezzanine collateralized debt obligation (CDO), sold in 2006, is the target of a probe by the Securities and Exchange Commission, according to a person with knowledge of the matter. The inquiry into the CDO may not lead to any additional actions against the New York-based securities firm, said [...]
Britain’s antitrust regulator is planning to investigate equity underwriting in the investment banking industry to determine its effects on competition. The probe, which will start later this year, will include fees, rights issues and other types of equity-raising following complaints of “dissatisfaction” from corporations, the UK Office of Fair Trading said on Thursday in a [...]
US House of Representatives Speaker Nancy Pelosi on Thursday slammed British energy giant BP over dividend payment as the US scientists studying the Gulf of Mexico oil spill estimated the BP well could have been spewing some 40,000 barrels of crude a day into the Gulf. BP slammed While asked if BP should stop awarding [...]
US antitrust regulators plan to investigate whether Apple Inc is unfairly restricting rivals such as Google from carrying ads on the iPhone, iPad and iPod, the Financial Times said. The regulators have already started scanning Apple’s actions, the paper said, citing people familiar with the move. But it is not yet clear whether the Federal [...]
Indian Transport Minister Kamal Nath said he met with Temasek Holdings Pte to discuss the “idea” of setting up a fund to invest in roads, ports and airports as the country seeks to improve infrastructure. The minister said he met with the Singapore state-owned investment company on Wednesday, when asked about a Wall Street Journal [...]
The European Central Bank is expected to leave its key interest rate at 1 percent on Thursday as its governing council holds its first monetary policy meeting since last month’s decision to buy government bonds to ease the debt crisis. With markets still jittery — the euro recently hit a series of four-year lows to [...]
Deutsche Bank AG Chief Executive Officer Josef Ackermann and HSBC Holdings Plc Chairman Stephen Green are among bankers with a new ally in their tug of war with politicians over stricter rules: Europe’s sovereign-debt crisis. Balancing tighter regulation after the worst financial crisis since the Great Depression and sustaining a fragile economic recovery is at [...]
Global investors have little confidence in Europe’s efforts to contain its debt crisis or in European Central Bank President Jean-Claude Trichet, with 73 percent calling a default by Greece likely. Only 23 percent say they expect the region’s almost $1 trillion rescue package to both keep the European monetary union together and prevent a debt [...]
IMF says most advanced economies experiencing ‘subdued’ recovery SINGAPORE – Risks to the global economic outlook have “risen significantly” and policymakers have limited room to provide support to growth, International Monetary Fund Deputy Managing Director Naoyuki Shinohara said. Most advanced economies are experiencing a “subdued” recovery, Shinohara said in a speech in Singapore. “A key [...]
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