- Harvard's Interest-Rate `Swaps' So Toxic Even Summers Won't Explain Them Anne Phillips Ogilby, a bond attorney at one of Boston’s oldest law firms, on Oct. 31 last year relayed an urgent message from Harvard University, her client and alma mater, to the head of a Massachusetts state agency that sells bonds. The oldest and richest academic institution in America needed help getting a loan right away.
- Guy Hands Turns on `The Worm,' Citigroup as EMI Explodes into Court Brawl It was around midnight and British financier Guy Hands was on the phone again with “the Worm,” his long-time dealmaker at Citigroup Inc., David Wormsley.
- RBS Christmas Party Cash Buys `Two Pints of Beer and a Packet of Crisps' Royal Bank of Scotland Group Plc, recipient of the world’s biggest banking bailout, is contributing 10 pounds ($16) a head toward employee Christmas parties this year, enough to buy two pints of lager and a packet of potato chips.
- Flying Carp Threaten Bond Ratings, Fishing Industry of Great Lakes Region William Contos has piloted barges on the Chicago canal connecting the Mississippi River to the Great Lakes for a quarter century, hauling salt that melts ice off the city’s roads and coal that feeds its power plants.
- BHP Billiton's Nasser Must Avoid M&A `Ego' for Expansion, Investors Say Jacques Nasser, chairman-elect of BHP Billiton Ltd., will begin his job next year at the world’s biggest mining company with a potential $40 billion war chest and a message from investors to be wary of mega acquisitions.
- `Sizzling' Shanghai Home Prices Defy Sales Tax as Bubble Concern Increases Gloria Gu paid $483,000 for an apartment near Shanghai’s financial district so her 3-year-old son could attend one of the city’s best kindergartens. Six months later, a similar place in her building sold for $615,000.
- California's Bonds Fail on Wall Street Advice Bill Lockyer Couldn't Refuse For California Treasurer Bill Lockyer, the offer from Goldman Sachs Group Inc., JPMorgan Chase & Co. and Citigroup Inc. was too good to refuse.
- Tudor Jones Turns Away Investors as Hedge-Fund Industry Outflows Persist In a year when investors pulled an estimated $118 billion from hedge funds through November, Paul Tudor Jones was one of at least six managers who decided it was time to turn away cash.
- ECB Said to Start Consulting Banks, Investors on Collateral Transparency European Central Bank officials are moving closer to forcing banks to provide more information about the collateral they give the ECB in return for loans.
- Spyker's Chief Muller Says EIB Is Biggest Obstacle to Reaching Saab Deal Spyker Cars NV’s plan to buy General Motors Co.’s Saab unit hinges on the European Investment Bank approving a loan before the end of December, the Dutch luxury-car maker’s chief executive officer said.
Bloomberg Daily News 18th December 2009
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