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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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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Commercial banks borrowed more, while investment firms drew less over the past week from the Federal Reserve's emergency lending program. The Fed report, released Thursday, showed commercial banks averaged $87.9 billion in daily borrowing over the week ending...
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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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