- Defaults as Prepackaged Bankruptcies Signal New Normal for U.S. Bondholder When Euramax International Inc. was struggling in 2008 amid the worst economic crisis since the Great Depression, lenders to the building-materials maker reorganized its debt to prevent a collapse.
- Fed Faces Biggest Blow to Authority, Independence in Dodd Banking Measure The Federal Reserve faces the biggest blows to its authority and independence in five decades under legislation championed by its lead overseer in the U.S. Senate.
- Bear Stearns Managers' Acquittal May Hamper Other U.S. Fraud Prosecutions The acquittal of two Bear Stearns Cos. hedge-fund managers in a subprime-mortgage fraud case that relied heavily on e-mail evidence may make it more difficult for the government to win related cases based on similar facts.
- Santander's Madoff Losses Trigger Criminal Charges for Ex-Boss of Optimal Manuel Echeverria, the former head of Banco Santander SA’s Optimal Investment Services unit in Geneva, has been charged with criminal mismanagement over his handling of client funds invested with Bernard Madoff.
- Google Made `Strategic' AdMob Purchase to Expand IPhone Ads, Schmidt Says Google Inc. Chief Executive Officer Eric Schmidt said his company’s $750 million purchase of AdMob Inc. will expand sales of ads that appear in applications on smart phones such as the iPhone.
- Commercial Real Estate Crisis Looming for U.S., Zisler Says: Chart of Day “A crisis of unprecedented proportions is approaching” in the U.S. commercial real-estate market, according to Randall Zisler, chief executive officer of Zisler Capital Partners LLC.
- ING's Breakup Offers `Rare' Chance for Insurers to Buy in Emerging Markets ING Groep NV’s decision to split off 12 billion euros ($18 billion) of insurance businesses is likely to have competitors jostling for its units in emerging markets on three continents, analysts said.
- Volkswagen Board Is Said to Consider Buying Component-Maker Karmann Assets Volkswagen AG will consider the purchase of assets from insolvent automaker Wilhelm Karmann GmbH at a board meeting today, three people familiar with the situation said.
- Colombia Isn't Considering Capital Controls, Finance Minister Zuluaga Says Colombia isn’t considering implementing capital controls to stem gains in the peso, Finance Minister Oscar Ivan Zuluaga said.
- Renault Targets U.S. Partner Better Place for French Electric-Car Network Renault SA plans to bring in U.S. partner Better Place to run its future electric-car charging network in its home market of France, Chief Operating Officer Patrick Pelata said.
- FDIC's 20% Shorter `Merit' Examinations Preceded Failures of Three Banks At least three U.S. banks failed in the past year after the Federal Deposit Insurance Corp. deemed them healthy enough to qualify for a program that reduced the time examiners spent on reviews by at least 20 percent.
- Monsanto Faces `Distrust' as New Seeds Seek to Blunt DuPont's Sales Gains Monsanto Co., reeling from its first market-share losses to DuPont Co. in a decade, may be losing the confidence of some investors based on early results from the new modified seeds it’s counting on to beat competitors.
Bloomberg Daily News 12th November 2009
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