- Queen's Bankers to Rich Get Taxpayer Support Courtesy of RBS Owning Coutts On a gray January afternoon in London, John Baines had a blunt message for prospective buyers of Coutts, the 318-year-old British private bank. Coutts & Co., the U.K.’s second-largest wealth manager, and its Zurich-based international arm, RBS Coutts Bank AG, were not on the market.
- Singapore's GIC, Abu Dhabi Face $10 Billion Loss on UBS, Citigroup Stakes It took the Government of Singapore Investment Corp. three days in 2007 to agree to prop up UBS AG, ailing from subprime losses. It may take a decade to recoup that investment of 11 billion Swiss francs ($10 billion).
- Drought Threatens Syria's Economy as 300,000 Families Flee Parched Farms A few miles beyond an irrigated golf course on the outskirts of Damascus, scores of refugees fleeing drought in Syria’s northeastern breadbasket have settled into tents on a rocky field.
- Chile's `Somber' Peso, Bond Markets Weeks Away From Earthquake Recovery Chilean equity, bond and currency trading may take two weeks to recover after volumes plunged following the strongest earthquake in five decades, according to the local unit of Bank of Nova Scotia.
- SABMiller May Sell 12 Million Beers at South Africa's World Cup Fan Parks SABMiller Plc may sell 12 million more units of beer at this year’s soccer World Cup if it capitalizes on the decision by Anheuser-Busch InBev NV not to sell Budweiser at fan parks in the nine host cities.
- Home-Price Drop in U.S. Supports Fed's Low-Rate Outlook: Chart of the Day A possible relapse in home prices that had Fed policy makers concerned late last year may now be coming to pass, underscoring forecasts by economists such as Jan Hatzius that an interest-rate increase is a long way off.
- WPP Chief Sorrell Predicts Organic Growth in Second Quarter of This Year WPP Plc Chief Executive Officer Martin Sorrell forecast growth for the world’s largest network of ad agencies in the second quarter compared with the same period last year.
- Redrow's Morgan Aims to Revive His Company With Shift to Higher-End Homes Steve Morgan, who took the job of chairman at Redrow Plc for the second time almost 12 months ago, said the U.K. homebuilder’s biggest mistake during his nine-year absence was shifting to the low end of the market.
- IBM Cut Almost 500 Jobs Across the U.S. Today, Employee Labor Group Says International Business Machines Corp., the world’s largest computer-services provider, fired almost 500 workers in the U.S. and that number may rise, according to employee advocate Alliance@IBM.
- Sawgrass Resort Where Tiger Woods Apologized Seeks Bankruptcy Protection The owners of Florida’s Sawgrass Marriott Resort, the site of the U.S. PGA Tour’s Tournament Players Championship, sought bankruptcy protection from creditors including Goldman Sachs Group Inc.
Bloomberg Daily News 3 March 2010
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