FDIC May Invite Pension Funds to Buy Stakes in U.S. Banks Facing Seizure The Federal Deposit Insurance Corp. is trying to encourage public retirement funds that control more than $2 trillion to buy all or part of failed lenders, taking a more direct role in propping up the banking system, said people briefed on the matter.
Bain Seeks 177% Return in IPO of Sensata Reporting Annual Losses Since ’06 Bain Capital LLC is selling Sensata Technologies Holding NV in a $632 million initial public offering that may almost triple the value of its investment in a company that has lost money every year since being acquired.
New Normal Becomes Old Normal With Exports Spurring Growth in New U.S. Mix The “new mix” is out to topple the “new normal” as the paradigm for America’s economic future.
S&P Rally Slowed by Mutual Funds Showing Fastest Cash Depletion Since 1991 Equity mutual funds are burning through cash at the fastest rate in 18 years, leaving them with the smallest reserves since 2007 in a sign that gains for the Standard & Poor’s 500 Index may slow.
Taiwan Prosecutors Raid Offices, Homes in Probe of Collapse of Pang Empire Taiwan International Securities Corp. and Fulltech Fiber Glass Corp. fell in Taipei trading after their offices were raided as part of an investigation into Private Equity Management Group Inc., whose founder Danny Pang committed suicide after being accused of lying to his investors.
Citigroup’s Gary Shedlin, Adviser to BlackRock’s Fink, Said to Leave Bank Citigroup Inc.’s Gary Shedlin, an adviser to financial clients including BlackRock Inc.’s Laurence Fink, is departing to join Morgan Stanley, said a person with knowledge of the matter.
Treasuries Supplanting Munis as Brown Brothers Says Two-Year Notes Ascend Municipal bond investors are piling into Treasuries as state and local government finances worsen and the yield advantage for tax-exempt securities evaporates.
BNY Mellon May Consider Other Acquisitions After Buying BHF in Germany Bank of New York Mellon Corp., the world’s biggest custody bank, may consider other European acquisitions after agreeing to buy BHF Asset Servicing GmbH in Germany.
China `Reasonably Valued’ Property Stocks May Gain from Yuan, Robeco Says Chinese property stocks are “very reasonably valued” and the prospect of an appreciating yuan may spur a rebound for the worst-performing industry this year, according to Robeco Hong Kong Ltd.’s Victoria Mio.
JPMorgan Is Biggest Hedge-Fund Firm by Assets, Pensions & Investments Says JPMorgan Chase & Co., the New York- based bank run by Jamie Dimon, is the world’s biggest hedge-fund firm by assets, according to Pensions & Investments magazine.