- Harvard University Paid $500 Million to Exit Backfired Interest-Rate Swap Harvard University’s failed bet that interest rates would rise cost the world’s richest school at least $500 million in payments to escape derivatives that backfired.
- Malone Isn't in Talks for NBC Universal, Would Consider if Price Was Lower Liberty Media Corp. Chairman John Malone said his company isn’t in talks to acquire a stake in General Electric Co.’s NBC Universal.
- Lazard Board Said to Meet in Two Weeks to Consider Wasserstein Successor Lazard Ltd. directors plan to convene within two weeks to consider a permanent replacement for Bruce Wasserstein, the chief executive officer who died this week at 61, said two people with knowledge of the matter.
- Ted Turner Passed Cash `Like a Joint,' Feels `Like a Dummy' on Sale of CNN Ted Turner, the cable television pioneer who became one of the richest Americans, recalls the pain of losing his job at Time Warner Inc., his wife, the actress Jane Fonda, and $7 billion of his fortune.
- Luxury Spending Jumps 29% as Rich Shoppers Come Roaring Back, Survey Shows Spending in the U.S. on luxury goods and services spurted 29 percent in the third quarter from the previous three months, as consumers with the highest incomes unleashed pent-up demand, according to Unity Marketing.
- Buyers Sue Trump in Miami Condo Glut as Values Seen Returning to '89 Level Robert Cooper says he has found a way to make money in South Florida’s real estate bust.
- Goldman Sachs-Backed, Ayn Rand-Inspired Fund Plans to Invest Record Amount Roark Capital Group, the Atlanta- based owner of brands including Carvel ice cream, plans to invest the most in its eight-year history next year as the private-equity industry thaws.
- Nokia Siemens Network Marriage May Be Unraveling as Asset Value Evaporates Nokia Oyj’s decision to slash more than $1 billion off the value of its telephone-network venture with Siemens AG may signal the partnership is unraveling.
- Twenty-Year Wait for Earthquake Protection Keeps San Franciscans on Alert Jason Henderson keeps a hatchet and crowbar stashed in a closet of his sixth-floor apartment in San Francisco, so he can pry his way out if an earthquake topples the building.
- World's Hungry Exceed 1 Billion Even as Wealth Increases: Chart of the Day The world’s undernourished and hungry will exceed 1 billion this year as governments failed to channel a decade of rising wealth into improving agriculture.
Bloomberg Daily News 19th October 2009
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