- Pfaeffikon Woos London Masters of Universe as Taxes Bite in U.K. Election Beneath a crystal chandelier at London’s Mandarin Oriental hotel, across the street from Harrods department store, more than 100 bankers, hedge fund managers and wealthy retirees are gathered on a cold March night to plot their escape from Britain. Swiss government officials and Geneva-based financial advisers have come to London to lure rich residents with glowing descriptions of the country’s low taxes, safe streets, private-banking options and convenient ski weekends.
- Greenland Oil Rush Looms as Exxon Eyes Cairn's $400 Million Arctic Wager Cairn Energy Plc is betting $400 million this year on striking oil off Greenland, a campaign that will be closely watched by producers such as Exxon Mobil Corp. and Chevron Corp. that hold rights off the island.
- Cree LEDs, Ormat Geothermal Power Help Boost Pictet Clean Energy Fund 30% Ask Pictet Clean Energy Fund manager Philippe de Weck where he finds investment value in a world more concerned about the economic recession than reducing emissions and the short answer is in technology pioneers.
- First Afghan Railway Will Draw Taliban Fire as It Boosts Economy, War Goal Workers are laying track across north Afghanistan’s rolling grassland for the country’s first rail line, a project that will boost the economy, supply NATO troops and become a target for Taliban bombs.
- Communists in Crotonville Help GE Lobby Chinese Officials in Different Way Every summer since 2000, General Electric Co. has worked with the world’s largest communist party to pick about 25 Chinese executives for the company’s leadership program in Crotonville on New York’s Hudson River.
- Priests' Protests Over Dams Curtail Hydropower for Tata Motors, Bajaj Auto Avimukteshwaranand Saraswati stands on the banks of the Ganges, India’s holiest river, urging his fellow Hindu priests to oppose hydropower dams the nation needs to curb blackouts and drive economic growth.
- Daley Increases Taxpayer Costs as Chicago CFO Avoids Financing Competition Chicago Mayor Richard M. Daley hired JPMorgan Chase & Co. investment banker Gene Saffold and gave him a simple order: protect the taxpayer.
- Fairholme's Berkowitz Gets Late Start With $3 Billion Wager on Financials Bruce Berkowitz waited until financial-services stocks had more than doubled from their March 2009 lows before buying stakes now valued at more than $3 billion. The manager of the $16.5 billion Fairholme Fund said his bet wasn’t placed too late.
- Hands's Terra Firma Sees 58% Return for Investors Willing to Support EMI Guy Hands’s Terra Firma Capital Partners Ltd. is telling investors they could earn a rate of return of as much as 58 percent if they provide cash needed to keep lenders from seizing control of EMI Group Ltd.
- Brown Taps Thatcher's Legacy of `Poll Tax,' Asset Sales to Counter Cameron British Prime Minister Gordon Brown wants voters to think about one politician in the election in two days, and it’s not him.
- Google's YouTube Boosts Display Advertisers 10-Fold Google Inc. has boosted the number of advertisers using display ads on its YouTube video site 10-fold in the past year, a sign the company is making headway to lift sales in businesses other than search.
- Birthday Call to United Chief Led to Air Merger in Three Weeks The phone call that would result in a merger creating the world’s largest airline came on UAL Corp. Chief Executive Officer Glenn Tilton’s 62nd birthday.
Bloomberg Daily News 5th May 2010
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