Blackstone Said to Be in Talks to Join Simon Property’s General Growth Bid Blackstone Group LP, the world’s largest private-equity firm, may join Simon Property Group Inc.’s bid to buy bankrupt General Growth Properties Inc., according to two people with knowledge of the discussions.
Rajaratnam Fraud Trial Scheduled to Begin Oct. 25 in New York, Judge Says The criminal fraud trial of Galleon Group LLC founder Raj Rajaratnam will begin on Oct. 25, a judge said after defense lawyers opposed a request by prosecutors to start the case in June or July.
Capital Group Defies Mutual Fund Indexing as Investors Desert Active Past James Rothenberg grumbles when he’s asked about the decline in popularity of traditional stock- picking funds like his Capital Group Cos.’ $149.3 billion Growth Fund of America.
AMP Chief Dunn Seeks Axa Asia Amid Regulatory Review of NAB’s Rival Offer AMP Ltd., spurned as a suitor by Axa Asia Pacific Holdings Ltd., is still pursuing the wealth manager because it’s not certain National Australia Bank Ltd.’s A$13.3 billion ($12 billion) higher bid will clear regulatory hurdles.
Icahn Signs Deal to Buy Fontainebleau Resort for $156 Million, Lawyer Says Billionaire investor Carl Icahn said he bought the unfinished Fontainebleau Las Vegas casino resort today for “approximately $150 million.” A judge in Miami had approved the sale last month for $156.1 million.
Ezra Merkin Must Face Cuomo Suit Over Madoff Securities Fraud, Judge Says A New York judge denied J. Ezra Merkin’s bid for dismissal of a lawsuit filed against him and his Gabriel Capital Corp. by state Attorney General Andrew Cuomo, alleging they’d funneled money to financier Bernard Madoff to assist him in his fraud scheme.
Goldman Sues 7 Former Wealth Managers `Pirated’ by Credit Suisse U.S. Unit Goldman Sachs Group Inc. sued seven former members of its private-wealth management division who resigned this month to join a unit of rival Credit Suisse Group AG.
Pension Gap of $1 Trillion Is `Daunting’ Bill to U.S. States, Report Says U.S. states must contend with a more than $1 trillion gap between what they have saved and what they have promised to retired workers for pension and health-care benefits, the Pew Center on the States said in a report today.