"In business, I’ve discovered that my purpose is to do my best to my utmost ability every day. That’s my standard. I learned early in my life that I had high standards."
Donald Trump
INVESTMENT Magazine - THE ORIGINAL
MetLife Eclipses Benmosche’s AIG After CEO’s Vow

MetLife Inc. Chief Executive Officer Robert Henrikson, who vowed not to waste the financial crisis, will control a larger overseas life insurance operation than his old boss after agreeing to pay $15.5 billion for a unit of American International Group Inc. AIG, led by ex-MetLife CEO Robert Benmosche, said yesterday it would sell American Life Insurance Co. to Henrikson’s firm, one week after a $35.5 billion deal to divest another non-U.S. subsidiary to Prudential Plc. New York-based AIG is selling units to help repay loans included in the $182.3 billion bailout it got from the U.S. government.
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General Growth Investors Add $3.93 Billion to Brookfield Plan
General Growth Properties Inc. said its biggest debt and equity holders offered to jointly invest $3.93 billion in the company, bolstering a plan with Brookfield Asset Management Inc. to bring the mall owner out of bankruptcy. The investments from Bruce Berkowitz’s Fairholme Capital Management LLC and William Ackman’s Pershing Square Capital Management LP would allow unsecured creditors to be paid in full with cash, General Growth said in a statement last night. Their funds are in addition to $2.63 billion pledged by Brookfield.
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Fannie Mae Mortgage-Bond Spreads Fall to Record: Credit Markets
Yields on Fannie Mae and Freddie Mac mortgage securities that guide U.S. home-loan rates fell to the lowest relative to Treasuries on record, even as the scheduled end of Federal Reserve purchases approaches. The difference between yields on Washington-based Fannie Mae’s current-coupon 30-year fixed-rate mortgage bonds and 10- year Treasuries narrowed 0.02 percentage point yesterday to about 0.63 percentage point to match the smallest spread since at least 1984, according to data compiled by Bloomberg.
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Morgan Stanley Said to Hire Pearson for Car Research
Morgan Stanley has hired Credit Suisse’s Stuart Pearson to head its European automobile equity research team in London, according to two people familiar with the situation. Pearson, 32, resigned yesterday after 2 1/2 years at Credit Suisse and will start his new job in June, said the people, who asked not to be identified because the appointment hasn’t been made public. Pearson will replace Adam Jonas, who is moving to the U.S. to oversee the bank’s global automotive research team, one of the people said.
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Fujitsu Didn’t Mislead Investors, Tokyo Exchange Says
Fujitsu Ltd. won’t be required to submit an improvement report related to a statement about the resignation of former President Kuniaki Nozoe because it didn’t mislead investors, the Tokyo Stock Exchange said. A statement Fujitsu issued on Sept. 25 saying Nozoe resigned for health reasons “lacked adequacy,” although it wasn’t misleading, the exchange said in a statement today. The bourse, which yesterday asked for clarification about changes in the stated reason for Nozoe’s resignation, issued a “stern” warning to the company, according to the statement.
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