Hollingsworth Daily Post

• Renault May Wait on Volvo Sale, Eliminate $6.8 Billion in Debt Renault SA may keep its Volvo AB stake until a rebounding heavy-truck market boosts the price 25 percent, allowing the carmaker to raise about 50 billion kronor ($6.8 billion) and wipe out most of its debt.


• Citigroup's Return to Saudi Arabia May Need More Than Help From Alwaleed Citigroup Inc. is aiming to open for business in Saudi Arabia six years after selling its stake in a bank there. Returning might not be as easy as departing.


• Four Seasons, Starwood, Marriott Take Aim at Europe After Dominating U.S. Europe is the new battleground for the world’s largest hotel companies as they look for sources of growth outside the U.S. market they already dominate.


• Wind Projects May Stall on U.K. Grid-Connection Rules, E.ON, Centrica Say A U.K. plan to install more than 8,000 offshore wind turbines by 2020 may be delayed by a government plan to contract out work to connect the wind farms to the grid, according to Centrica Plc and E.ON AG.


• Siemens, GE Lured to Hydro Hub by Singapore's Push to End Water Dependency Singaporeans splash their way through 2 meters (6.5 feet) of rain each year on average, three times as much as Londoners. Yet the island nation’s economy depends on water imports from its rival, Malaysia.


• Stadiums Beat Stocks After Public Colleges Bet Football Is Recession-Proof The University of Texas is profiting from a decision to renovate its football stadium four years ago instead of investing in securities.


• Self-Evaluations Seen as New Source of Concern After Goldman Sachs Hearing Wall Street employers, long concerned that their staff’s e-mails may be used against them, now have another thing to worry about: the self-evaluations employees fill out.

Bloomberg Daily News 30th April 2010

Hollingsworth Daily Post

• Citigroup's Return to Saudi Arabia May Need More Than Help From Alwaleed Citigroup Inc. is aiming to open for business in Saudi Arabia six years after selling its stake in a bank there. Returning might not be as easy as departing.


• Self-Evaluations Seen as New Source of Concern After Goldman Sachs Hearing Wall Street employers, long concerned that their staff’s e-mails may be used against them, now have another thing to worry about: the self-evaluations employees fill out.


• Credit Agricole, Societe Generale Face Greek Risks as Debt Crisis Deepens Credit Agricole SA and Societe Generale SA may be among European banks with the most at risk from the Greek crisis because of unprofitable units in the country.


• Wind Projects May Stall on U.K. Grid-Connection Rules, E.ON, Centrica Say A U.K. plan to install more than 8,000 offshore wind turbines by 2020 may be delayed by a government plan to contract out work to connect the wind-farms to the grid, according to Centrica Plc and E.ON AG.


• Stadiums Beat Stocks After Public Colleges Bet Football Is Recession-Proof The University of Texas is profiting from a decision to renovate its football stadium four years ago instead of investing in securities.


• Philadelphia Inquirer Lenders Win Bankruptcy Auction With $139 Million Bid Lenders to Philadelphia Newspapers LLC, the bankrupt owner of the Philadelphia Inquirer, won an auction for control of the publisher against a group led by billionaire Ronald Perelman after almost 30 hours of wrangling.


• Barofsky's Probe Into N.Y. Fed's Alleged AIG Coverup May Lead to Charges Neil Barofsky was unpacking boxes in December 2008 when the stench of sewage wafted through the hallways at the 168-year-old Main Treasury Building. The space assigned to him as head of the Office of the Special Inspector General for the Troubled Asset Relief Program, or SIGTARP, was shoehorned into the basement, three floors below U.S. Treasury Secretary Henry Paulson’s offices.


• How Mine-Safety Law Following 2006 Deaths Led to `Broken' U.S. Enforcement A West Virginia mining disaster claims lives. Congress pledges to pass legislation to crack down on mine operators.


• EDF's Proglio Takes Mestrallet Water Fight Nuclear as French Sell Reactor Henri Proglio and Gerard Mestrallet, the Frenchmen who run the world’s biggest utilities, fought for a decade to win water contracts around the world. Now, the rivalry goes nuclear.


• Yuan's Gain Against Dollar May Be Delayed as Greek Crisis Drives Down Euro The yuan’s climb to a one-year high against the euro will erode China’s competitiveness in its largest export market and delay an end to its currency’s peg against the dollar, said UniCredit SpA and Societe Generale SA.


• Georgia Plans $280 Million Sewer-Loan Sale to Preserve 6,000 Teacher Jobs Governor Sonny Perdue of Georgia, where state revenue has declined for three years in a row, is counting on getting as much as $288 million by selling loans made to cities and counties for water and sewer projects.


• `Pac-Man' Forecasts Victory in Philippine Election Before Mayweather Fight Manny Pacquiao, the boxing champion vying to become a Philippine congressman, said he’s confident of winning his first election victory after switching his candidacy to one of the nation’s poorest provinces.

Bloomberg Daily News 28th April 2010

Hollingsworth Daily Post

• Alwaleed Holds Wallet With Warren Buffett as Princely Riches Incur Setback Prince Alwaleed Bin Talal sits under an almost full moon near a campfire at his rustic retreat in Riyadh, Saudi Arabia. He’s surrounded by a zoo with zebras and giraffes, an artificial lake and a lodge that has an indoor pool, saunas and steam rooms. Three hooded falcons are perched on stands in front of him.


• Nomura Bid to `Gain Altitude' Hits Turbulence as Lehman Veterans Bail Out Nomura Holdings Inc. executives attending the annual meeting for top managers in Tokyo this month witnessed an unprecedented event at the 84-year-old firm: The chief executive officer gave his address in English.


• Marchionne Chasing Ghosn Finds Chrysler No Nissan as Global Alliance Wilts Four months before Fiat agreed to take management control of Chrysler Group LLC, Chief Executive Officer Sergio Marchionne said he wanted to create one of the world’s top five carmakers.


• Udvar-Hazy Seeks Capital for `Huge' Jet Lessor Being Founded With Plueger Steven Udvar-Hazy, who left International Lease Finance Corp. in February, is seeking capital for a new aircraft lessor, Air Lease Corp., that he’s founding with former colleague John Plueger.


• Biggest Banks Are Back as JPMorgan, Citigroup Turn Corner on Credit Crisis Main Street teamed up with Wall Street to produce something the four biggest U.S. lenders haven’t had since the banking crisis began two years ago: reason for optimism.


• Boeing Rally Raising Doubts Dreamliner Takeoff Justifies Earnings Estimate As Boeing Co. Chief Executive Officer Jim McNerney held court in Airbus SAS’s backyard at the Paris Air Show last June, he made a promise: He told Wall Street analysts he’d be throwing a party in two weeks -- after the 787 Dreamliner’s first test flight.


• Rogoff Says Greece Won't Be Last IMF Rescue as Ireland, Spain `Vulnerable' Greece is unlikely to be the last euro nation to need an International Monetary Fund bailout, with Ireland, Spain and Portugal “conspicuously vulnerable,” said Harvard Professor Kenneth Rogoff.


• Deutsche Bank May Struggle to Reach Earnings Targets Amid New Regulation Deutsche Bank AG Chief Executive Officer Josef Ackermann is struggling to convince investors he will meet his pledge to double pretax profit by 2011, and planned banking regulations may make his task even harder.


• Carnivores' Dilemma Widens as Surging Pork Signals Record Prices for Meat U.S. meat prices may rise to records this summer after farmers reduced hog and cattle herds to the smallest sizes in decades, the result of surging feed costs linked to demands for more ethanol.

Bloomberg Daily News 27th April 2010

Hollingsworth Daily Post

• Rogoff Says Greece Won't Be Last IMF Rescue as Ireland, Spain `Vulnerable' Greece is unlikely to be the last euro nation to need an International Monetary Fund bailout, with Ireland, Spain and Portugal “conspicuously vulnerable,” said Harvard Professor Kenneth Rogoff.


• Deutsche Bank May Struggle to Reach Earnings Targets Amid New Regulation Deutsche Bank AG Chief Executive Officer Josef Ackermann is struggling to convince investors he will meet his pledge to double pretax profit by 2011, and planned banking regulations may make his task even harder.


• Carnivores' Dilemma Widens as Surging Pork Signals Record Prices for Meat U.S. meat prices may rise to records this summer after farmers reduced hog and cattle herds to the smallest sizes in decades, the result of surging feed costs linked to demands for more ethanol.


• Lira Rally Shows Turkey Growth Catching Up to China Amid Bullish Estimates The Turkish lira, which trailed emerging market currencies from the Brazilian real to the Russian ruble last year, is attracting bullish recommendations as the country’s economic growth approaches that of China.


• UAL, Continental Said to Study No-Premium Stock Merger With Smisek as CEO UAL Corp.’s United Airlines and Continental Airlines Inc. are studying a stock-for-stock merger with no premium, two people with knowledge of the talks said, in a deal that would create the world’s largest carrier.


• Drillers Risk Deadly Blowouts to Tap Oil, Gas Reservoirs Deeper Undersea Energy companies delving miles beneath the seafloor for oil are risking pressure surges like the one this week that may have sparked the deadliest U.S. rig accident in 23 years.


• Swiss Bankers Should Look to Cheese Exports for Answers to Flagging Model Michael Spycher, wearing a white cotton cap with a rolled up bill, stirs bacteria and rennet into a copper vat filled with warm milk, starting the process that creates his award-winning Gruyère.


• Windy Nights in Germany Bring Cash for Consumers Who Use More Electricity On windy nights in northern Germany, consumers are paid to keep the lights on.


• Banker to Bikers Fights `Wildly Risky' Dodd Plan to Pare Fed Supervision The Federal Reserve’s independence may rest in the hands of people like Ralph Larry Lyons, chief executive officer of Central Virginia Bankshares Inc., with assets of $473 million.


• Gourmet Grocer Ocado's Initial Offer May Be `Act of Faith' for Investors Ocado Ltd. has become the U.K.’s fastest-growing online grocer by enticing London shoppers with its vans of gourmet food. Luring investors to an initial public offering may be a tougher sell.


• Standard Chartered Ordered to Pay Banker It Fired on His First Working Day Standard Chartered Plc was ordered by Singapore’s High Court to pay Fermin Aldabe for wrongful dismissal after the lender’s global senior risk manager said he would resign on his first day on the job.

Bloomberg Daily News 26th April 2010

Hollingsworth Daily Post

• Goldman Sachs Fraud Suit Hinges on Meaning of `Selected' in Paulson Abacus The case against Goldman Sachs Group Inc. may turn on the meaning of the word “selected.”


• Recovery Tilts Toward V-Shape as U.S. Profit Surge Prompts Growth Revision Surging profits are prompting economists to revise their estimates for growth, tilting the recovery more in the direction of a V-shape as businesses from Intel Corp. to JPMorgan Chase & Co. boost spending.


• United Said to Focus on Continental Over US Airways in Merger Negotiations UAL Corp.’s United Airlines has put merger talks with US Airways Group Inc. on hold as it focuses on a tie-up with Continental Airlines Inc., people familiar with the matter said.


• Drugmakers Risk Downgrades After Binge; Goldman Bonds Fall: Credit Markets Pharmaceutical company bonds, the most expensive in the U.S. corporate credit market, face rating cuts after a buyout spree to replace expiring patents more than doubled their debt to $270 billion from 2006.


• Yuan Appreciation May Help China Overtake Japan as No. 2 Economy, ANZ Says China’s anticipated move to let its currency appreciate may help the nation overtake Japan as the world’s second-largest economy, Australia and New Zealand Banking Group Ltd. said.


• Brown Must Avoid 1970-Style Surprise as Growth Data May Turn U.K. Election Prime Minister Gordon Brown can’t afford a repeat of 1970 for his governing Labour Party when figures on the U.K. economy are published this week.


• Exxon's Oozing Texas Oil Pits Haunt Residents as Drilling Set to Expand Bo Vavrusa was heaping dirt into the path of a wildfire on a Texas ranch in October 2007 when his tractor rammed an Exxon Mobil Corp. natural-gas pipe hidden in a thicket. Flames engulfed the tractor, burning his face, arms and hands as he fled.


• Toyota Investors Defy Consumer Reports in Starting to Regain $35 Billion Some Toyota Motor Corp. investors say the automaker’s stock is a bargain and poised for gains after recalls involving its top-selling models and criticism of its newest sport-utility vehicle.


• Brazil's Banco Modal Plans to Create $1 Billion Private Equity Energy Fund Banco Modal SA, the Brazilian bank that helps finance mid-cap companies, will create a 1.8 billion reais ($1.02 billion) private equity fund to invest in energy assets.


• BASF Says Luxury-Cosmetics Recovery Is Strengthening as Cognis Bid Looms BASF SE, a possible bidder for moisturizer-ingredients maker Cognis GmbH, said there are signs that demand for luxury cosmetics is improving, adding strength to a rebound in the $3.7 billion personal-care chemicals market.


• `Liquidity Puts' That Cost Citigroup May Be Curbed by New Accounting Rules New accounting rules may curb U.S. banks’ willingness to guarantee mortgage-backed investment trusts such as those that cost Citigroup Inc. $14 billion, said a top official in the Office of the Comptroller of the Currency.

Bloomberg Daily News 19th April 2010

Hollingsworth Daily Post

• FDIC Selling Busted Bank Loans on Terms That Make It `Hard to Lose Money' Starwood Capital Group LLC, Colony Capital LLC and TPG, whose leaders profited from the 1990s savings and loan crisis, are among firms buying assets from the Federal Deposit Insurance Corp. for as little as 22 cents cash on the dollar, according to data compiled by Bloomberg.
• Batista Cancels EBX Offering as Billionaire Changes Plans After OSX Plunge Brazilian billionaire Eike Batista cancelled his planned initial public offering of holding company EBX Group Ltd. after raising $3.9 billion less than he first sought from the sale of shipbuilding unit OSX Brasil SA.
• New York University Challenged on Four Fronts in 40% Expansion of Campus Greenwich Village preservationists have a four-word response to New York University’s plan to expand its campus by 40 percent: Not in our backyard.
• Yale Man Makes Presidents Out of Provosts as Jack Welch Made CEOs From GE When the Massachusetts Institute of Technology was searching for a new president in 2004, it skipped past college leaders with long resumes and instead turned to Susan Hockfield, a neurobiologist who had been Yale University’s provost -- its No. 2 position -- for less than two years.
• Chinese Turbines Spun by Texas Winds Spur `Buy American' Push Chinese turbines powered by west Texas winds are sparking a debate over whether “Buy American” rules should be imposed on renewable-energy investments backed by the U.S. government.
• Goldman Sachs Boosts Nashville's Debt 40% for Convention Center Nashville, home of country-music stars such as Taylor Swift and the Grand Ole Opry, will boost city-backed debt by almost 40 percent to borrow $633 million for a new convention center three times the size of the Tennessee municipality’s current one.

Bloomberg Daily News 14th April 2010

Hollingsworth Daily Post

• Chinese Turbines Spun by Texas Winds Spur `Buy American' Push Chinese turbines powered by west Texas winds are sparking a debate over whether “Buy American” rules should be imposed on renewable-energy investments backed by the U.S. government.


• Goldman Sachs Boosts Nashville's Debt 40% for Convention Center Nashville, home of country-music stars such as Taylor Swift and the Grand Ole Opry, will boost city-backed debt by almost 40 percent to borrow $633 million for a new convention center three times the size of the Tennessee municipality’s current one.


• Sweden's Cradle-to-Grave State Means Bad Stats Affect Everyone Everyone is allowed one mistake. In Sweden, the Statistics Office has made so many the biggest morning newspaper taunted it with the picture “2 + 2 = 3.”


• Ryder Cup Financier Backs Startups to Unclog Wireless Networks Shortly after Terry Matthews left his native Wales for Canada in 1969, he started a venture importing electric lawnmowers from the U.K. It quickly floundered, he said. The shipping company lost the delivery and the machines didn’t arrive until October.


• IPads in India Fetch $2,250 as Apple Fans Refuse to Be Patient Anthony Agius says his decision to pay A$2,500 ($2,300) to travel to New York from Melbourne to buy 20 iPads is something only fellow Apple Inc. fans will fully understand.


• Palm Said to Tap Goldman, Quattrone to Find Buyers Palm Inc., creator of the Pre smartphone, is seeking bids for the company as early as this week, according to three people familiar with the situation.


• Options Show S&P 500 Profit Shortage Amid Stock Gains The biggest rally in seven decades has left investors so skittish that even forecasts for a 30 percent surge in U.S. earnings are failing to keep them from hedging bets on equities.


• Kaczynski Death to Aid Pro-Euro Tusk's Grip on Poland Polish Prime Minister Donald Tusk’s pro-euro Civic Platform party is likely to cement its grip on power in a presidential election that must now be held by June after President Lech Kaczynski died in a plane crash.


• Standard Chartered Looks for Growth in Africa, Mideast Standard Chartered Plc, the U.K. bank that makes most of its profit in emerging markets, will expand in the Middle East and Africa to tap rising oil and commodities trade flows, said a senior executive.

Bloomberg Daily News 13th April 2010

Hollingsworth Daily Post

• Dubai's $330 Billion Deferred Buildings Impose Fees Silvia Turrin paid two-thirds of the $520,000 purchase price of her Dubai apartment, only to learn that it won’t be finished until 2012, two years late. When she stopped payments to Emaar Properties PJSC, the developer hit her with late fees.


• China Real Estate Is Overheated, Nomura Asset Says China’s real-estate market is overheating and investors should stay cautious on developers after the shares fell the most in the main equities index this year, according to Nomura Asset Management Hong Kong Ltd.


• Emerging Currencies Overtake G-7 as Volatility Drops Traders in currency options are showing that emerging economies have become safer relative to developed nations than at any time in almost two years.


• Hong Kong's Luxury Markets Boom as Mainland Visitors Hit Record Ju Wei, the owner of an advertising company in China’s north-western Gansu province, makes an 1,800 kilometer (1,100 miles) trek to Hong Kong at least six times a year to go shopping.


• In-Flight Smokes Entice Hundreds to Break Law 20 Years Following U.S. Ban Passengers smoke on U.S. jetliners at least twice a week, according to authorities, breaking the law without creating an international incident like an episode this week.


• IPad May Be `Black Ship' That Shakes Up Japan's Book Industry Apple Inc.’s iPad may force Japan’s $21 billion book market to reshape pricing in the industry by historic proportions, publishing officials and analysts said.


• Cowdery `Missed His Chance' to Acquire U.K. Insurers Clive Cowdery made a personal fortune of 100 million pounds ($153 million) in five years buying and selling British insurers. His attempt to repeat that performance got a lot harder after the prices of potential targets doubled.


• Thai `Perfect Storm' May Drive Investors to Bonds From Stocks A “perfect storm” is gathering in Thailand, as once surging stocks threaten to drop, boosting record corporate bond sales that are withstanding the political turmoil, according to Standard Chartered Plc.


• North-South Divide May Hurt Euro Region More Than Greek Crisis Elina Helmanen and Minas Megalokonomos embody a widening north-south divide that may put the euro region at more risk than the Greek budget does.


• Great Barrier Reef at Risk as Coal-Ship Traffic May Jump 67% The corals, whales and giant clams of Australia’s Great Barrier Reef are in the path of a “coal highway” to China that may see shipments jump 67 percent by 2016, increasing the threat of an ecological disaster after a coal carrier ran aground last week.


• Obama Rallies Markets With Policies That Resemble Rubinomics It’s never easy to separate politics from policy, and the past 18 months have only increased the degree of difficulty. The U.S. has been through a historic financial crisis followed by a historic election and a series of historic federal gambles -- from bailing out American International Group Inc. and General Motors Co. to passing a $787 billion stimulus and a $940 billion health-care reform bill. All that risk has made policy more complicated and politics more fraught.

Bloomberg Daily News 12th April 2010

Hollingsworth Daily News

• Lyondell Leaves Kalamazoo Poisoned as Bankruptcies Thwart Toxic Cleanups Environmentalist Jeff Spoelstra says an 80-mile stretch of the Kalamazoo River that runs through toxin-laced land in southwestern Michigan was on its way to becoming safe again. The area, once home to Potawatomi Indians and Dutch celery farmers, was finally on the verge of getting cleaned up.


• Turkey Overtaking Germany No Wishful Thinking With Economic Paradigm Shift Erda Gercek spent 20 years outside Turkey, identifying stock market winners as a fund manager at Citigroup Inc. and Legg Mason Inc. Now he has moved back to his homeland, saying it’s a buy.


• Corzine, New Jersey Officials Cut in Line to Get Springsteen, U2 Tickets Former New Jersey Governor Jon Corzine’s office got U2 and Bruce Springsteen seats the public couldn’t buy last year, at the same time the state was suing brokers over ticketing practices, according to documents showing 22 elected officials received special treatment.


• GM Rushing Into Shanghai Where Google Refuses to Tread in Expo Sales Drive General Motors Co. expects three million people to visit its pavilion at the Shanghai World Expo. The chance to lure customers in what has become GM’s largest market this year makes being there worthwhile, even as companies such as Google Inc. face difficulties operating in China.


• Fed Finds Record-Low OECD Inflation With ECB Showing Convergence on Rates Federal Reserve Chairman Ben S. Bernanke and European Central Bank President Jean-Claude Trichet can’t afford to let the economic recovery distract them from the danger of falling into a deflationary morass akin to Japan’s.


• Novolipetsk to Spend $4 Billion to Lift Steel Output as World Demand Rises OAO Novolipetsk Steel, Russia’s largest steelmaker by market value, plans to spend more than $4 billion boosting output over the next three years as global demand recovers, Chief Executive Officer Alexey Lapshin said.


• Lombard Odier Targets Russian Billions With Moscow Office to Challenge UBS Lombard Odier Darier Hentsch & Cie, Geneva’s oldest private bank, said it won Russian approval to open an office in Moscow, competing with Swiss banks UBS AG and Credit Suisse Group AG to manage individual fortunes.


• Tanker Rates Seen Sinking 35% as Refinery Closures Leave Surplus of Ships The most profitable supertanker market in more than a year is heading for a 35 percent slump as oil refineries from Japan to the U.K. shut for maintenance and leave a surplus of vessels.


• Zero Fees From India Has Investment Bankers Relying on Private Share Sales India’s best quarter for stock sales in at least six years was accompanied by a slump in fees as investment banks competed to take state-owned companies public in deals that netted them almost no revenue.


• Campbell's Soup Loses Out to Nestle's Pizza, Kraft's Macaroni and Cheese Frozen pizza, microwave dinners and macaroni and cheese are eating into Campbell Soup Co.’s U.S. sales.


• Canada Bank Chiefs Wary of U.S. Takeovers as Doubts About Assets Persist Royal Bank of Canada, Toronto- Dominion Bank and Bank of Montreal, flush with about $18 billion in excess capital and a currency that’s near parity with the U.S. dollar, favor building from within to snapping up troubled banks south of the border.


• Silicon Valley Companies Gear Up for Acquisitions Amid Improving Economy Silicon Valley companies looking to put their cash to work may drive a wave of mergers this year, bankers and venture capitalists say.


• Lehman Castoffs Sleep on Sidewalk, Seek Redemption as Trump's `Apprentice' Stan Stasiowski, who worked at Lehman Brothers Holdings Inc. for 23 years until it collapsed, arrived at Trump Tower at 5:50 a.m., hoping to be seen by 7.8 million television viewers and avoid hearing Donald Trump scream, “You’re fired!”

Bloomberg Daily News 7th April 2010

Silicon Valley Gears Up for Acquisitions as Economy Improves

April 4 (Bloomberg) -- Silicon Valley companies looking to put their cash to work may drive a wave of mergers this year, bankers and venture capitalists say.
Companies are eager to make acquisitions because many of them have cut research budgets, says Robert Ackerman, founder and managing director of Allegis Capital in Palo Alto, California. That means they’re not as able to fall back on their own ingenuity to fuel growth. More businesses are relying on acquisitions to find their next new product or service, he says.
“The product cabinet is bare, but the market continues to move forward,” Ackerman said. “Wherever you see innovation sprint ahead, companies will have a product deficit, and will look to fill it.”
Google Inc., based in Mountain View, is currently one of California’s most acquisitive companies, buying at least five businesses in 2010. It agreed to buy Picnik Inc. last month, acquiring online photo-editing tools. Its purchase of DocVerse provided it with software that lets people share documents over the Internet. The value of the deals wasn’t disclosed.

Hollingsworth Daily Post

• Apple's IPad Requires Buyers to Take `Leap of Faith' After Failed Tablets Apple Inc., looking to succeed where rivals like Microsoft Corp. failed, is betting that consumers are finally ready for tablet computers, even if they have to do without some features.


• Stock Traders Sleep, Bond Markets Work as U.S. Jobs Report Hits on Holiday Tom Schrader, co-head of U.S. stock trading at Stifel Nicolaus & Co., plans to sleep in tomorrow. That’s not an option for all of his bond-market colleagues, said William Heinzerling, the firm’s head of fixed income.


• Ukraine, Nigeria Beating BRIC Countries as Mobius Says Rally Hasn't Ended Stocks in the smallest developing markets are beating their larger peers by the most in almost five years and Templeton Asset Management Ltd.’s Mark Mobius says they will keep rallying as consumer demand picks up.


• Harvard Twins Who Sued Facebook Now Take on Cambridge in 156th Boat Race Cameron and Tyler Winklevoss took on Facebook Inc. as Harvard students when social networking was still new. Now, they’re taking on one of the oldest challenges in sports.


• Matador Is Spain's Hottest Ticket as Protestors Seek Ban on Bullfighting Bullfighter Jose Tomas Roman is staging what protesters hope is a last stand for his bloody trade.


• How Lou Lucido Helped AIG Lose $35 Billion With CDOs Made by Goldman Sachs Joseph Cassano insisted American International Group Inc. would be fine.


• House Flippers in U.S. Rush Bums Off Courthouse Steps in Pursuit of Deals During the U.S. housing boom, even amateur investors could buy and sell a property within a couple of months and turn a profit. Today there’s nothing amateur about house flipping.


• IPhone-Weary Local TV Broadcasters Fight U.S. Regulators to Keep Airwaves TV broadcasters are getting ready for a fight over a U.S. government attempt to redistribute airwaves and help wireless carriers cope with a surge in traffic from bandwidth-guzzling devices like the iPhone.


• Electric Car Demand Means Polypore's Battery Parts Outpace Wind and Solar Polypore International Inc., which makes one of the key components of electric-car batteries, is climbing faster than most alternative energy stocks this year as investors bet on a global shift to low-polluting automobiles.


• Volkswagen Said to Speed Up Phaeton Revamp to Target Chinese Millionaires Volkswagen AG is speeding up a facelift of the $88,000 Phaeton sedan in time to unveil the model at the Beijing auto show next month and target China’s millionaires, said two people familiar with the matter.

Bloomberg Daily News 1st April 2010