Greek officials visited with President Barack Obama and Treasury Secretary Tim Geithner Tuesday afternoon. While not asking for a bailout, the Greek delegation warned that America can’t afford to ignore the situation in Greece and, more broadly, the threa
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From The Business Insider, March 10, 2010:The latest report on the property market in China is truly frightening. Despite measures taken by authorities to reign in the price explosion in Chinese real estate, prices rose at the fastest clip in nearly two y
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British interdealer broker Tullett Prebon confirmed it was in preliminary talks that might lead to an offer. The stock is up over 24 percent, valuing the company at nearly 830 million pounds ($1.2 billion), so investors see some merit in the idea, but an analyst we spoke to questioned whether the potential buyers talked about in a Daily Mail newspaper report are logical buyers.
One of them is Macquarie Group, Australia’s top investment bank. Oriel Securities analyst Keith Baird said Macquarie’s expansion of global investment banking business show it is more interested in arranging deals than being an agent for them. The other potential buyer noted was Bank of China, the country’s largest foreign exchange lender.
Baird thought the only reason BOC would want to get involved with an interdealer broker would be to use its institutional knowledge to set up a similar operation in the People’s Republic. He thought a more likely candidate would be Tullett’s Chief Executive Terry Smith (looking like a buyer above?) with the backing of a private equity investor. Smith currently owns around 4 percent.
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American International Group could learn the fate of the stalled $2.2 billion sale of its Taiwan unit Nan Shan Life Insurance as early as Thursday, when Taiwan’s parliament will review a report on the deal from the top financial regulator. Read the Reuters story here.
A clutch of private equity firms have bid up to 400 million pounds for British greetings card retailer Card Factory, sources familiar with the process told Reuters. Here is the story.
And in news reported by other media on Wednesday:
Barclays is looking to buy a retail bank in the US to extend its presence after buying Lehman Brothers, reports the Wall Street Journal. Barclays is not in talks and no deals are imminent, but has designated an internal team to assess possible targets.
Brazilian iron ore miner Ferrous Resources has revived plans for a $3 billion to $4 billion initial public offering in London, according to the Financial Times. The company could come to market as early as May and the Board will meet on Friday to start deciding whether to proceed with an IPO this summer.
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Editor’s note: Cisco made headlines today announcing a next generation router that will revolutionize the internet by increasing downloads to unheard of speeds. The Cisco press release makes the following claims about the CRS-3 ro
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Updated from 3:57 EST Update: At the White House Tuesday afternoon, Greek Prime Minister George Papandreou told reporters he got a “positive response” from President Obama for efforts to curb speculation i
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A year into this historic bull market run, investors are still turning their back on U.S. stocks in favor of emerging markets. “Investors around the globe have pulled $15.3 billion out of U.S. stock funds, according to data from EPFR Global, wh
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Lost in the headlines over the dollar’s resurgence in 2010 is the fact gold is still rising in most worldwide currencies. It is also still faring well in dollar terms. Gold is trading at around $1,120 per ounce, up about $60 in the last month.Frank Holmes
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