- Nokia Salesman-Turned-CFO Challenges IPhone at AT&T, Seeks to Revive Stock Nokia Oyj’s Timo Ihamuotila helped convince AT&T Inc. to offer one of the Finnish company’s most expensive handsets this year, letting the device share shelf- space with the iPhone at Apple Inc.’s exclusive U.S. carrier.
- Stanford Endowment Loss Prompts Silicon Valley Chief to Suspend Smoothing John L. Hennessy, president of Stanford University, is drawing on his 32 years of experience in Silicon Valley to speed up budget cuts, ditching a formula universities use to soften the impact of endowment losses.
- Picky Pets' Purina Bolsters Nestle as Shoppers Suffer for Cats' Pleasure Muscovite Yana Repina gave up sushi dinners and cut down on salmon and brie so she could afford to give her cat Busya its preferred variety of Nestle SA pet food.
- Russian Banks Count Pigs, Lingerie as Collateral From Cash-Starved Debtors When Russian billionaire Alexander Lebedev’s OAO National Reserve Bank seized collateral offered against a loan from a cash-strapped borrower, a health quarantine was slapped on the security: 40,450 pigs.
- Back-Door Taxes Hit Americans With Public Officials Financing in the Dark Salvatore Calvanese, the treasurer of Springfield, Massachusetts, for four years, had a ready defense for why he risked $14 million of taxpayer money on collateralized-debt obligations laden with subprime mortgages in 2007.
- Gold Optimism Tied to Dollar's Decline Seen as Misplaced: Chart of the Day Gold’s record-setting rally “appears stretched” and investors shouldn’t count on a falling dollar to sustain the surge, according to Brian G. Belski, Oppenheimer & Co.’s chief investment strategist.
- Islamic Bonds Are Set for Record Gains as Nakheel Rebounds, GE Plans Sukuk Islamic bonds are poised for record gains amid confidence that Nakheel PJSC, the developer of palm- tree shaped islands off the Dubai coast and the market’s biggest issuer, will avoid default.
- Sage View's Peterson Wins Decathlon, Title of Wall Street's Best Athlete While the title of Wall Street’s best athlete eluded John Withrow, the bond trader at Macquarie Group Ltd. came away a winner at the charity decathlon after raising almost $100,000 for cancer research.
- Antwerp Diamond Bankers Expect Market to Rebound in 2011 as Recession Ends Diamond traders in Antwerp may have to wait another two years for a recovery made possible in part by two of the industry’s biggest banks, which kept many of the dealers afloat during the recession.
- Pucci, Credaris Veteran, Starts $100 Million European Credit Hedge Fund Gennaro Pucci, formerly head of trading at credit manager Credaris, has started a $100 million hedge fund that will trade mostly European corporate debt, credit derivatives and asset-backed securities.
Bloomberg Daily News 27th October 2009
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