KKR moves a step closer to US flotation July 20, 2009 KOHLBERG Kravis Roberts (KKR), the private equity firm co-founded by “buyout king” Henry Kravis, yesterday secured agreement for a merger with its affiliated private equity fund KKR Private Equity (KPE). The KPE board accepted the merger offer, initially made in June, taking Kravis’ KKR a step closer to its eventual goal of a becoming a [...]
KKR moves a step closer to US flotation July 20, 2009 KOHLBERG Kravis Roberts (KKR), the private equity firm co-founded by “buyout king” Henry Kravis, yesterday secured agreement for a merger with its affiliated private equity fund KKR Private Equity (KPE). The KPE board accepted the merger offer, initially made in June, taking Kravis’ KKR a step closer to its eventual goal of a becoming a [...]
Former head of MetLife is to lead AIG August 3, 2009 BATTERED insurer American International Group (AIG) was yesterday set to name Robert Benmosche, formerly head of US life insurer MetLife, as its chief executive officer, according to people familiar with the matter. The board of the bailed-out insurance giant anointed Benmosche as its fifth leader since 2005 at a meeting yesterday, taking its fight to [...]
Former head of MetLife is to lead AIG August 3, 2009 BATTERED insurer American International Group (AIG) was yesterday set to name Robert Benmosche, formerly head of US life insurer MetLife, as its chief executive officer, according to people familiar with the matter. The board of the bailed-out insurance giant anointed Benmosche as its fifth leader since 2005 at a meeting yesterday, taking its fight to [...]
CIT’s shares halted on NYSE as regulators close in on rescue deal July 15, 2009 TROUBLED US lender CIT Group had its trading halted on the New York Stock Exchange yesterday, suggesting regulators were nearing a rescue deal. A source close to the situation said a temporary loan may be announced in the next 24 hours. The source added a temporary loan is one option being considered to give CIT [...]
CIT’s shares halted on NYSE as regulators close in on rescue deal July 15, 2009 TROUBLED US lender CIT Group had its trading halted on the New York Stock Exchange yesterday, suggesting regulators were nearing a rescue deal. A source close to the situation said a temporary loan may be announced in the next 24 hours. The source added a temporary loan is one option being considered to give CIT [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 25, 2010 FINANCIAL TIMES CHAIRMAN OF HSBC HITS AT BIG BONUSES Stephen Green, chairman of HSBC and British Bankers’ Association, has hit out at the inflated level and distorted structure of bonuses, predicting future pay-outs will be lower and more rationally calculated. In a video interview with the FT, published on the eve of the World Economic [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 28, 2010 FINANCIAL TIMES VEKSELBERG FACES RECORD FINE IN OERLIKON CASE Swiss authorities are seeking to impose a record SFr120m ($114m) fine on Russian oligarch Viktor Vekselberg and two Austrian investors for allegedly breaching reporting rules in building stakes in the troubled Oerlikon industrial group. The fine – which was announced on Thursday – was immediately rejected [...]
Oil surprise staves off Wall Street lull August 19, 2009 US stocks rose yesterday, shaking off a slide in China’s equity market as investors responded well to a surprise drop in crude oil stockpiles that might suggest an improving demand outlook. Exxon Mobil and Chevron led the blue-chip Dow industrials index’s advance. Exxon Mobil was up 2.3 per cent at $68.00, and Chevron gained 1.8 [...]
Volatile foreign exchange markets are back on the agenda for 2010 February 16, 2010 SIX months ago, it seemed that the worst of the global crisis was over. The markets had calmed down, the economic recovery appeared to be firmly on track and traders seemed to have regained their risk appetite. But just as we thought things were on the mend, a sovereign debt crisis in the Eurozone coupled [...]