TPG’s Myer Seeks to Raise Up to $2 Billion From Australian Share Sale TPG Inc. and Blum Capital plan to sell their stake in Myer Group in Australia’s biggest initial public offering in two years as buyout firms seek to profit from the stock market’s 50 percent rally since March.
Calamos Sees Technology Stocks Beating Banks in `Sobering’ U.S. Economy John Calamos Sr., whose mutual fund beat 99 percent of rivals over the past decade, said technology and energy exploration stocks that benefit from global economic growth will offer better returns than the banks that have driven this year’s market rebound.
S&P 500 Index Poised for Biggest Fourth-Quarter Rally in Decade, Wien Says The Standard & Poor’s 500 Index is poised for its biggest fourth-quarter rally in a decade as the economy recovers and earnings exceed analysts’ forecasts, according to Byron Wien, vice chairman of Blackstone Group LP.
Obama Stock Rally Persists on $3.5 Trillion in Money Market Fund Hoarding Americans holding $3.5 trillion in cash are giving money managers increasing confidence that the stock market rally under President Barack Obama will continue through the end of the year.
Newegg Plans to Raise Up to $175 Million in IPO for Global Store Expansion Newegg Inc., the online retailer of consumer electronics and computers, plans to raise as much as $175 million in an initial public offering to expand internationally and repay loans.
Pimco Adviser Clarida Says U.S. Savings Rate May Exceed 8%, Slowing Growth Pacific Investment Management Co. strategic adviser Richard Clarida said the U.S. savings rate may exceed 8 percent, hurting consumer spending and weighing on the economic recovery.
Brevan Howard Says Unit May Open Switzerland Office After U.K. Taxes Rise Brevan Howard Asset Management LLP, Europe’s largest hedge-fund manager, said the parent of its offshore unit may open an office in Switzerland.
Brazil Pensions Said to Plan Moving Up to $39 Billion From Debt to Funds Brazilian pension funds may sell as much as 70 billion reais ($39.1 billion) of government bonds after falling interest rates led regulators to lift limits on investing in non fixed-income assets, according to SulAmerica Investimentos.
SEC Sues Detroit Broker for Allegedly Luring Elderly to $250 Million Scam The U.S. Securities and Exchange Commission sued a Detroit-area broker for allegedly defrauding elderly investors by selling interests in a firm that claimed it had telecommunications deals with hotels and truck stops.
`Black Swan’ Author Nassim Taleb Asks Why Bernanke, Geithner Kept Posts Nassim Taleb, author of “The Black Swan,” questioned why Federal Reserve Chairman Ben S. Bernanke, and Treasury Secretary Tim Geithner kept their posts after failing to foresee the collapse in global credit markets.
Stanford, Injured in Fight With Inmate, Will Move to Downtown Houston Jail R. Allen Stanford, awaiting trial on charges that he led a $7 billion investor fraud, was granted a transfer from a private Texas jail to a federal facility closer to his lawyers in downtown Houston.