WASHINGTON -- Commercial banks borrowed more, while investment firms drew less over the past week from the Federal Reserve's emergency lending program.
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Jan. 9 (Bloomberg) -- Barclays Plc hired 10 people in Japan, including former bankers at Nomura Holdings Inc. and Lehman Brothers Holdings Inc., boosting its local business even as other foreign investment banks cut back.
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For publicly held buyout firms and hedge funds, the new year seems to have brought a positive fresh start to their stock prices. As of Thursday morning, shares in Fortress Investment Group , the Blackstone Group and GLG Partners are up by double-digit percentages.
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Jan. 9 (Bloomberg) -- Barclays Plc , the U.K.’s third biggest bank, said it hired 10 staff, including former bankers at Nomura Holdings Inc. and Lehman Brothers Holdings Inc., to expand its investment banking business in Japan.
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Global Investment House was the first of several expected casualties among Kuwaiti financial companies because of the global credit crunch.
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The SEC has accused a Philadelphia-area investment manager of a Ponzi scheme that swindled some $50 million from as many as 80 investors. Investigators say Joseph Forte admits he used as much as $20 million in investor funds to repay other clients and withdrew up to $12 million in so-called fees for himself. Account statements given to Forte's investors show he actually pocketed $28 million. The ...
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The FT says today that the government of Singapore's $23-a-share investment in Merrill Lynch was worth just $12.10 per share at the end of 2008, a drop of 47%. A paper loss of more than $2 billion is tough for any investor to swallow, but for a stake in an investment bank bought at the end of 2007, this is actually an impressive outperformance. ...
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