Funds 12/24/2006
Funds
Invesco's Woodford Beats Europe's Largest Funds With Water, Tobacco Shares Neil Woodford of Invesco Perpetual topped Europe's largest money managers this year, steering around a midyear market dip and buying tobacco and utility shares.
Fidelity to Pay Its Own Mutual Funds $42 Million as Part of Gifts Probe Fidelity Investments, agreeing to the first penalty ever proposed by its independent fund trustees, will pay $42 million to compensate investors for potential damage from a scandal in which employees took lavish gifts from brokers.
Texas Pacific, Apax Partners Sell Bonds, Not Equity, for LBO Dividends Buyout firms are turning to the bond market to extract a record amount of cash from the European companies they own.
Pudong Bank to Increase Stake in Shanghai's First Sino Bank to 30 Percent Shanghai Pudong Development Bank Co. will triple its stake in First Sino Bank to 30 percent, stepping up control of China's first joint venture bank between Taiwan and mainland investors.
Carlyle Group Seeks Larger Japan Buyouts, Targets Electronics Industry Carlyle Group, manager of the biggest buyout fund dedicated to Japan, wants to acquire larger companies and is targeting the electronics industry in the world's second- largest economy, an executive said.
Huaxia Bank Will Sell 4.5 Billion Yuan of Hybrid Bonds to Boost Capital Huaxia Bank Co., partly owned by Deutsche Bank AG, will sell 4.5 billion yuan ($576 million) of a special hybrid bond to boost capital and finance its loan growth.
Thailand's Baht Heads for Worst Week Since 1998 on Currency Restrictions The Thai baht headed for the biggest weekly loss since the nation suffered a recession in 1998 as investors withdrew funds following the imposition of restrictions aimed at weakening the currency.
Oil Trades Little Changed After Falling as Mild U.S. Weather Trims Demand Crude oil traded below $63 a barrel in New York after falling from a three-month high yesterday, as warmer-than-usual weather in most of the U.S. signaled lower demand for heating oil while fuel stocks rise.
JPMorgan, AIG Probes Widen in `Black Box' Schemes Denying Housing to Poor Lucy Morris, a retired school custodian in Pensacola, Florida, is waiting for help from $220 million of bonds issued to improve housing for the poor. She lives alone in her one-bedroom apartment, decorated with red and yellow plastic tulips that distract her from the weeds, cinder block walls and barbed wire security fence outside.
South Korea Has `Unlimited Resources' to Steady Won, Finance Official Says South Korea's government and the central bank has ``unlimited resources'' to stabilize the currency when the won's moves are volatile, Deputy Finance Minister Kim Sung Jin said.
BHP Billiton Declines to Comment on Baosteel's Iron Ore Price Settlement BHP Billiton Ltd., the world's largest mining company, declined to comment whether it had settled iron ore prices after China's Baosteel Group Corp. and Cia. Vale do Rio Doce agreed to raise them 9.5 percent next year.
Invesco's Woodford Beats Europe's Largest Funds With Water, Tobacco Shares Neil Woodford of Invesco Perpetual topped Europe's largest money managers this year, steering around a midyear market dip and buying tobacco and utility shares.
Fidelity to Pay Its Own Mutual Funds $42 Million as Part of Gifts Probe Fidelity Investments, agreeing to the first penalty ever proposed by its independent fund trustees, will pay $42 million to compensate investors for potential damage from a scandal in which employees took lavish gifts from brokers.
Texas Pacific, Apax Partners Sell Bonds, Not Equity, for LBO Dividends Buyout firms are turning to the bond market to extract a record amount of cash from the European companies they own.
Pudong Bank to Increase Stake in Shanghai's First Sino Bank to 30 Percent Shanghai Pudong Development Bank Co. will triple its stake in First Sino Bank to 30 percent, stepping up control of China's first joint venture bank between Taiwan and mainland investors.
Carlyle Group Seeks Larger Japan Buyouts, Targets Electronics Industry Carlyle Group, manager of the biggest buyout fund dedicated to Japan, wants to acquire larger companies and is targeting the electronics industry in the world's second- largest economy, an executive said.
Huaxia Bank Will Sell 4.5 Billion Yuan of Hybrid Bonds to Boost Capital Huaxia Bank Co., partly owned by Deutsche Bank AG, will sell 4.5 billion yuan ($576 million) of a special hybrid bond to boost capital and finance its loan growth.
Thailand's Baht Heads for Worst Week Since 1998 on Currency Restrictions The Thai baht headed for the biggest weekly loss since the nation suffered a recession in 1998 as investors withdrew funds following the imposition of restrictions aimed at weakening the currency.
Oil Trades Little Changed After Falling as Mild U.S. Weather Trims Demand Crude oil traded below $63 a barrel in New York after falling from a three-month high yesterday, as warmer-than-usual weather in most of the U.S. signaled lower demand for heating oil while fuel stocks rise.
JPMorgan, AIG Probes Widen in `Black Box' Schemes Denying Housing to Poor Lucy Morris, a retired school custodian in Pensacola, Florida, is waiting for help from $220 million of bonds issued to improve housing for the poor. She lives alone in her one-bedroom apartment, decorated with red and yellow plastic tulips that distract her from the weeds, cinder block walls and barbed wire security fence outside.
South Korea Has `Unlimited Resources' to Steady Won, Finance Official Says South Korea's government and the central bank has ``unlimited resources'' to stabilize the currency when the won's moves are volatile, Deputy Finance Minister Kim Sung Jin said.
BHP Billiton Declines to Comment on Baosteel's Iron Ore Price Settlement BHP Billiton Ltd., the world's largest mining company, declined to comment whether it had settled iron ore prices after China's Baosteel Group Corp. and Cia. Vale do Rio Doce agreed to raise them 9.5 percent next year.
posted by alexsakne at 6:22 AM
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