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Financial crises over the past decade, along with product innovation, have made liquidity risk more important than ever. The euro area crisis is keeping liquidity in the headlines, with the struggles of some European banks to maintain short-term funding prompting central bank liquidity injections. “It’s a key risk factor”, was the view of Alistair Lowe, chief investment officer for active equities at State [...]
Berkshire Hathaway Inc. is the opening bidder today for a portfolio of Residential Capital LLC’s whole loans, a day after Res-Cap auctioned its mortgage servicing business to Ocwen Financial Corp. for $3 billion. Berkshire will start tomorrow’s auction for the loan portfolio, competing against a consortium of financial investors, according to a person familiar with the matter. Yesterday Ocwen [...]
The National Football League’s New York Giants sit atop their division. Their New Jersey hometown is in the fiscal cellar. East Rutherford, a suburb of 8,900 people about 13 miles (21 kilometers) west of Manhattan, is struggling to assemble the state’s tardiest budget as it battles the team over a tax bill. Investor patience is wearing thin with the borough, which [...]
HgCapital LLP is seeking 1.75 billion British pounds ($2.8 billion) for its next fund that will make private equity investments in Europe, according to a summary of terms viewed by Bloomberg News. HgCapital 7’s hard cap is 2 billion British pounds, slightly more than the close to 1.9 billion British pounds the prior fund gathered in [...]
Nationstar Mortgage Holdings Inc. and Ocwen Financial Corp., which have seen their share prices more than double this year, are battling to become the largest non-bank home-loan servicers in a consolidating industry. They’ll resume bidding today in a bankruptcy auction in a midtown Manhattan hotel for Residential Capital LLC’s loan- servicing unit after trading competing offers in a session that lasted into the evening. [...]
While gold and other commodities have outperformed over the past decade, it may not be too late to invest in them. Based on the duration of prior long-term trends, it appears likely the bull market for commodities and commodity-linked assets will last at least another five years. As the dot com bubble burst at the turn of the millennium it marked [...]
Morgan Stanley is the top financial adviser on BP Plc deals, according to data compiled by Bloomberg. The New Yorkbased bank is the energy company’s principal adviser on OAO Rosneft’s agreement to buy Russia’s TNK-BP for $54.8 billion from BP and a group of billionaires. Read more>>
The U.S. wireless industry is moving toward consolidation and specialization, says Erik Tavzel, a partner at Cravath, Swaine & Moore LLP. Tavzel represented Crown Castle International Corp. on its $2.4 billion agreement to buy the rights to operate cellular towers from Deutsche Telekom AG’s T-Mobile USA. He also advised on the $1 billion takeover of NextG Networks Inc. completed in April. Tavzel spoke [...]
Scripps Networks Interactive Inc., the television home of Paula Deen’s mashed potatoes, is poised to lure bids even with the stock at a record high now that the controlling family trust has disbanded. The owner of the Travel Channel, HGTV and most of the Food Network has the secondfastest projected sales growth through 2015 among 13 U.S. [...]
Central Bank Monitor from Bloomberg Briefs To view the full presentation please contact us at the details below and we will be happy to send you the Powerpoint with 18 additional slides: Agustavson@bloomberg.net Or call me on +1 212 617 0544 Annie
