- Citi Sold Phibro to Shed Risk-Taking Tag on CEO Hall's $100 Million Plan Citigroup Inc.’s decision to sell its Phibro LLC energy-trading unit to Occidental Petroleum Corp. came after the Obama administration’s special master for compensation cautioned that a potential $100 million payout to the unit’s chief executive officer, Andrew J. Hall encouraged excessive risk-taking, people familiar with the matter said.
- CVS, Walgreen Have Spot Shortages of Seasonal-Flu Vaccine on Demand Surge CVS Caremark Corp. and Walgreen Co., the two largest U.S. drugstore chains, are experiencing spot shortages of seasonal-flu vaccines because of increased demand.
- Stanford University May Sell Sequoia, Kleiner Stakes as Fund Prices Rise Stanford University is seeking to sell $1 billion in private investments, including stakes in venture capital funds run by Sequoia Capital and Kleiner Perkins Caufield & Byers, as prices rise in the secondary market, according to three people familiar with the matter.
- Wall Street Derivatives Lobby Links With New Democrats to Blunt Obama Plan As President Barack Obama vowed in a Sept. 14 speech in New York’s Federal Hall to correct “reckless behavior and unchecked excess” on Wall Street, Mike McMahon and Barney Frank sat in the audience discussing how to ease proposed rules for the $592 trillion over-the-counter derivatives market.
- Worst BRIC China Becomes Best Buy for Fisher, Schiff on Consumer Rebound China’s stocks, the worst performers among the largest emerging markets in the third quarter, are poised to rebound as investors say shares are too cheap to pass up with economic growth accelerating.
- Fed Said to Consider Clearing Banks, Facility to Drain Reserves With Repos The Federal Reserve is considering accessing money market funds through clearing banks or creating a facility to drain the record amount of cash added to the financial system, according to people familiar with the plans.
- Cameron's Debt Fix Called `Bizarre,' `Wrong' by Ex-Central Bank Officials Conservative leader David Cameron’s suggestion that the Bank of England end its asset purchases soon was criticized by two former central bank officials, a setback to the opposition’s effort to build credibility on the economy.
- Thomson Default-Swaps Settlement May Snarl Debt Restructurings in Europe Debt restructurings in Europe may get tougher to complete after creditors that agreed to take part in the reorganization of Thomson SA were hampered in how they can settle credit-default swaps on the debt.
- Jamie Oliver Seeks $22 Million From Investors for Restaurants Across Asia Jamie Oliver and his venture partner are seeking $22 million from private investors to help fund 30 of the U.K. celebrity chef’s Italian restaurants across Asia.
Bloomberg Daily News 12th October 2009
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