BlackRock’s Earnings Rise as Barclays Global, Fund Deposits Boost Assets BlackRock Inc., the world’s biggest money manager, said fourth-quarter net income rose almost five- fold as the purchase of Barclays Global Investors lifted fee revenue and investors poured money into stock and bond funds.
Madoff Trustee Reports $220 Million Accord With Levy Family Over Profits The liquidator for Bernard Madoff’s defunct business said the family of deceased New York real estate magnate Norman F. Levy agreed to pay $220 million to settle claims over its profit from the fraud.
India Money Managers Flee Bonds for Cash on Concern Over Rates, Inflation India’s investment managers are selling bonds and putting their funds in money markets, anticipating losses in longer-term debt as inflation quickens and the budget deficit grows.
South Florida Lawyer Scott Rothstein Pleads Guilty to Running Fraud Scheme Former South Florida lawyer Scott Rothstein pleaded guilty to running a $1.2 billion Ponzi scheme.
Mobius Says China’s Lending Slowdown May Benefit Economy, Recommends Banks China’s lending slowdown may benefit the domestic economy by reducing risk and investors should still buy shares of the nation’s banks, investor Mark Mobius said.
Soros Says Obama’s Financial Plan May Not Resolve `Too Big to Fail’ Issue Billionaire investor George Soros said the largest financial institutions may be “too big to fail” even under President Barack Obama’s plans to rein them in.
Senate Defeats Debt Commission, Shows How Tough it Is to Cut U.S. Deficit The Senate’s defeat yesterday of a plan to create a special debt commission shows how difficult it will be for Washington to chip away at the federal government’s trillion-dollar deficits.
Davos at 40 Means Schwab Still Heading Uphill to Find `Incipient Changes’ The Grateful Dead anthem “Truckin’” was rising in the charts the day Klaus Schwab arrived atop a Swiss mountain on Jan. 24, 1971, with an endowment of 25,000 francs ($24,000) and 450 global leaders to host the inaugural 14-day gathering of what would become the World Economic Forum.
Citigroup, Goldman Sachs Win Dismissal of Auction-Rate Antitrust Lawsuits Citigroup Inc., Goldman Sachs Group Inc., UBS AG and seven other banks won dismissal of lawsuits in which they were accused of violating U.S. antitrust law by propping up and then abandoning the market for auction-rate securities.
S&P, Moody’s Win Dismissal of Claims in Mortgage-Backed Securities Lawsuit Standard & Poor’s and Moody’s Corp. won dismissal of a lawsuit seeking to hold them responsible for defrauding investors who bought about $100 billion of mortgage- backed securities.