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    Black Friday Unlikey to Provide Boost for Battered Retailers

    Guest Commentary by Kristin Bentz, PMG Venture Group With the U.S. elections over, investor focus, when not trained on the so-called fiscal cliff, is now beginning to turn toward the approaching holiday shopping season. The Friday after Thanksgiving, known as ‘Black Friday,’ is perceived by many to be busiest and most important shopping day of the year. It is not well understood by [...]

    Big Picture: China’s Fiscal Expansion Unlikely to Spur Equities

    China’s goal of doubling per capita income by 2020 — which was discussed at the 18th Communist Party Congress that concluded yesterday — is likely to help place the country on the right track to sustainable growth. Still, the reform agenda will take years to implement, and change is not guaranteed. In the near term, a fiscal-led turnaround in fourth-quarter GDP growth is [...]

    KRG Raising $1.5 Bln for Next Mid-Market Fund

    KRG Capital Partners is seeking $1.5 billion for its next fund that invests in middlemarket companies, according to two people familiar with the situation. KRG Capital Fund V LP is targeting less than the around $2 billion the prior fund gathered in 2007. The firm sent out marketing materials for the fund last week, one of [...]

    Overseas Shipholding Files in Delaware

    Overseas Shipholding Group Inc., the largest U.S. tanker operator, filed for bankruptcy protection after global shipping rates declined and demand for oil fell in North America and Europe. The 64-year-old company, based in New York, listed assets of $4.15 billion and debt of $2.67 billion in a Chapter 11 filing today in U.S. Bankruptcy Court in Wilmington, Delaware. Read more>>

    Big Picture: Retail Sales to Provide First Glimpse of Hurricane’s Impact

    This morning’s October retail sales report will be the first leading monthly data series to reflect the impact of Hurricane Sandy. The report will probably document a transitory shift in the composition of demand away from household discretionary items toward consumer staples and building materials. Due to some homeowners’ lack of flood insurance and the slow nature of the rebuilding process after Hurricane [...]

    Big Picture: Business, Consumer Confidence Diverge Over Fiscal Cliff

    Economists polled by the Federal Reserve Bank of Philadelphia forecast U.S. economic activity to cool to 2.0 percent in 2013 from an anticipated 2.2 percent increase in 2012. This is a pace traditionally associated with an economy teetering on the brink of recession. The Bank’s latest survey of professional forecasters shows monthly nonfarm payroll growth expectations are for 155,600 in 2012 and [...]

    Deal Roster: Jefferies Advised Itself on Its Own Takeover by Leucadia National

    Jefferies Group Inc. bankers have worked on more than 100 deals this year, a total that now includes the sale of their own firm. That puts Jefferies just one spot outside the top 20 financial advisers on mergers and acquisitions globally, according to data compiled by Bloomberg. Leucadia National Corp., an investment firm and Jefferies’ biggest shareholder, agreed yesterday to acquire the 71.4 percent [...]

    BlackRock to Start ‘Best Ideas’ Credit Hedge Fund

    BlackRock Inc., the world’s largest asset manager, plans to start a long-short global credit hedge fund that would use the best ideas of the firm’s leveraged-finance team, according to a document from Citigroup Inc.’s prime-finance unit. BlackRock’s Fundamental Credit Investors fund will replicate the leveraged-finance portion of its Obsidian Fund, a diversified fixed-income fund, Citigroup said [...]

    Spotlight On Bloomberg Briefs

    We hope you enjoy this new video that highlights the global Bloomberg Brief team and the history of the Bloomberg Brief newsletters which have grown to over 230,000 subscriptions in 18 months.

    Big Picture: U.S. Economics Preview: Policy Negotiations to Set Tone

    With the election past, investors and policy makers are now focused on the possible fiscal shock set to take place in early 2013 due to scheduled legislative changes. While the near-term risks to the U.S. economic outlook are generally well understood by investors, they are difficult to disentangle from the longer-term growth picture due to an unsustainable fiscal path and debt dynamics that will probably drive the outcome of policy [...]

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