- AIG Document New York Fed Kept Secret Shows Goldman Minted Most Toxic CDOs When a congressional panel convened a hearing on the government rescue of American International Group Inc. in January, the public scolding of Treasury Secretary Timothy F. Geithner got the most attention.
- Cyberactivists Get Help From YouTube, U.S. to Thwart Repressive Regimes Cameran Ashraf was instant-messaging from Los Angeles with an activist in Iran during anti-government protests Feb. 11 when the chat went dead.
- Thermo Fisher Seeks Greater Biotechnology Role in $6 Billion Millipore Bid Thermo Fisher Scientific Inc., the world’s largest maker of lab instruments, offered about $6 billion for Millipore Corp., seeking to expand its biotechnology business, according to a person close to the situation.
- ABB Taps Emerging Markets, Guards Cash to Navigate Through `Thunderstorm' ABB Ltd. Chief Executive Officer Joe Hogan plans to expand in Brazil and India and remain selective with acquisitions, saying Europe and the U.S. may need more time to emerge from the steepest economic slump in half a century.
- GM's Sale of Saab Division to Spyker Cars Said to Likely Close This Week General Motors Co.’s sale of Saab Automobile to Spyker Cars NV is likely to close this week, moving the U.S. company closer to trimming its U.S. brands by half, two executives involved with the deal said.
- EDF Said to Consider Asset Swap for $2.2 Billion Stake in Italy's Edison Electricite de France SA may use power assets and cash to buy a 1.6 billion euro ($2.2 billion) stake in Edison SpA, Italy’s second-largest power producer, three people with knowledge of the discussions said.
- AIG `Death Spiral' Ends With Bailout Support Bringing Stability to Revenue American International Group Inc., the troubled financial firm that threatened to bring down the U.S. economy, is showing stable revenue for its insurance units and improving its ability to repay taxpayers 17 months after a bailout that swelled to $182.3 billion.
- China New Village in the Sky Makes Chanos Predict Dubai One Thousand Times The township of Huaxi in the Yangtze River Delta is a proud symbol of how Chinese communists embraced capitalism to lift 300 million people out of poverty during the past three decades.
- Greece Said to Have Arranged Swap Contracts With About 15 Securities Firms Greece arranged swap agreements with about 15 securities firms, including some payments from banks that may have helped hide the country’s true deficit, according to a person with direct knowledge of the contracts.
- Ford Jobless Recovery Means No New U.S. Hiring as Mulally Overhauls Plants Ford Motor Co.’s $1.6 billion U.S. investment plan will retool plants to build fuel-efficient autos to compete with Toyota Motor Corp. models. Hiring workers paid on par with Toyota’s will have to wait.
- Homebuilding Stocks Seen Rising Too Far, Too Fast: Chart of the Day Homebuilders’ soaring share prices this year are anything but “a signal of things to come,” according to Brian Belski, chief investment strategist at Oppenheimer & Co.
- Coal Rally Gaining Steam as China Fuel Shortage Sparks $59 a Ton Estimates A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter in nine years and China’s record imports increase demand and drain stockpiles.
- Bacon Doubling Down on Oil as Tepper Buys Airlines Portend Stock Rebound The world’s most successful hedge funds are snapping up energy producers, mining companies and airlines, a sign that managers from Louis Bacon to David Tepper are convinced the economy will accelerate.
- Carlyle's Ta Chong Bank Uses `McDonald's Strategy' as Koh Awaits Approach Ta Chong Bank Ltd., the Taiwan lender controlled by Carlyle Group LP, will woo retail customers with a “McDonald’s strategy” and boost profit fivefold by 2012 to attract potential buyers, President Edmund Koh said.
Bloomberg Daily News 23rd February 2010
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