- Standard Chartered 79% Return Overtakes HSBC With Asian Investment Rebound Standard Chartered Plc, the third- largest bank in the United Kingdom by market value, wants to do business almost exclusively in Asia and emerging markets. Any executive of the lender who dares to depart from that strategy risks the wrath of Mike Rees, the chief executive officer for corporate banking.
- Profit `Not Satanic' Barclays Chief Says After Goldman Sachs Invokes Jesus Barclays Plc Chief Executive Officer John Varley stood at the wooden lectern in St. Martin-in-the- Fields on London’s Trafalgar Square last night and told the packed pews of the church that “profit is not satanic.”
- IPOs Unravel as Aviv Follows AEI in Pulling Sales Amid Record Low Returns Aviv REIT Inc. became the second company in less than a week to postpone its U.S. initial public offering as the busiest period for new listings in two years leaves investors with the worst returns on record.
- Nokia Siemens Said to Be Mulling Bid for Nortel Assets, Challenging Ciena Nokia Siemens Networks may bid for Nortel Networks Corp.’s optical-networking business, challenging Ciena Corp. for the unit of the insolvent communications equipment maker, said two people familiar with the matter.
- Bin Laden's Money Welcome as Desperate Independent Filmmakers Seek Funding Todd Solondz, the U.S. director whose movie “Happiness” was nominated for a Golden Globe award in 1999, knows how desperate raising funds for a film has become.
- Poland Mulls Lifting Debt Rules, Skrzypek Says, Raising Investor Concerns Polish central bank Governor Slawomir Skrzypek said a temporary lifting of rules capping public debt may be warranted even as the government scrambles for ways of containing the swelling budget deficit.
- DSG to Deliver Washing Machines Free to Fight Back Against Supermarkets DSG International Plc, Europe’s second-largest electronics retailer, will start free delivery of televisions and washing machines as part of a service-led counterattack against supermarkets and online retailers.
- Banks Find Consumer Protection Too Big to Fail as Congress Writes New Law During one of his first meetings about overhauling U.S. financial regulations in February, President Barack Obama had a question for his economic advisers, who included Treasury Secretary Timothy Geithner and National Economic Council Director Lawrence Summers.
- Bank of America's Next Chief May Call New York Home Instead of Charlotte Bank of America Corp. broadened its search for a chief executive officer to include candidates who want to live in New York, acknowledging the bank’s biggest units are no longer based in its home of Charlotte, North Carolina, people familiar with the matter said.
- Mulally Adds $2,700 More Revenue Per New Vehicle to Drive Ford's Growth Ford Motor Co. Chief Executive Officer Alan Mulally, after cutting nearly half the automaker’s North American employees, is commanding $2,700 more revenue per vehicle as he looks to put the company on a path to growth.
Bloomberg Daily News 4th November 2009
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