India Said to Propose Sovereign Wealth Fund to Buy Overseas Energy Assets India may create a sovereign fund to help state companies compete for overseas energy assets with rivals from China, a government official said.
China Is in Midst of `Greatest Bubble in History,’ ex-LTCM’s Rickards Says China is in the midst of “the greatest bubble in history,” said James Rickards, former general counsel of hedge fund Long-Term Capital Management LP.
Billionaire Zell Sees Gain in Stocks as Economy Improves, Housing Recovers Sam Zell, the billionaire investor who once called himself a grave dancer for profiting from troubled assets, said U.S. stocks are poised to extend the biggest rally since the 1930s as the economy rebounds.
Europe Delays Proposed Hedge Fund Rules Amid Threat of a U.S. `Trade War’ European finance ministers meeting today in Brussels opted to delay plans to discuss hedge fund and private equity regulation that would have risked a trade war by limiting access to the European Union.
Nobel Winner Sharpe’s Firm Becomes First 2010 U.S. IPO Priced Above Range Financial Engines Inc. jumped as much as 41 percent in its first day of trading after the investment adviser co-founded by Nobel laureate William Sharpe became the first U.S. company this year to price an initial public offering above its forecast range.
Sony Financial Heads for Record Gain on Bond-Focused Allocation Changes Sony Financial Holdings Inc., the insurance and banking unit of Sony Corp., had its biggest gain in almost 16 months in Tokyo after saying it will boost its bond holdings to reduce risk and stabilize its investment strategy.
Liquidator Alvarez Wants to Revive Lehman as an Asset Management Business Bankrupt Lehman Brothers Holdings Inc. proposed transforming remnants of its staff into a for- profit asset-management business to begin operations by May 1.
Citigroup Bolsters Proprietary Trading Arm as Volcker Rule Spurs Defectors Citigroup Inc., the bank 27 percent owned by the U.S., is bolstering a unit that trades stocks with the lender’s own money after a proposed government ban of proprietary trading helped spur eight of its 22 employees to defect, people with direct knowledge of the matter said.
Axis in Market Share `Grab Mode’ Aims to Triple Funds Managed in India Axis Asset Management Co., backed by India’s third-largest non-state bank, plans to triple its assets over the next year as it aims to become one of the nation’s top 10 money managers.