- Dubai May Forfeit Status as Financial Hub to Get Abu Dhabi Rescue Package Dubai, the debt-laden Gulf city- state, may lose its status as the region’s financial hub in return for a rescue package from its oil-rich neighbor Abu Dhabi, economists and analysts said.
- Abu Dhabi Commercial Bank Is Said to Be Owed $1.9 Billion by Dubai World Abu Dhabi Commercial Bank PJSC may be owed $1.9 billion by Dubai World, making it the largest creditor outside the emirate to the state company seeking to reschedule debt, said two people familiar with the companies.
- Dubai Shows Limits of Government Bailouts for Markets, Roubini's Das Says The worldwide decline in equities spurred by Dubai’s efforts to reschedule its debt is a sign that government spending alone won’t be enough to protect financial markets, according to Arnab Das of Roubini Global Economics.
- Mark Pittman, Bloomberg Reporter Who Predicted Subprime Crisis, Dies at 52 Mark Pittman, the award-winning investigative reporter whose fight to open the Federal Reserve to more scrutiny led Bloomberg News to sue the central bank and win, died Nov. 25 in Yonkers, New York. He was 52.
- Credit-Default Swap Reforms Roiled as Aiful, Cemex, Thomson Test Payments Wall Street’s system for determining payments on derivatives linked to the debt of defaulted companies is showing cracks less than a year after securities firms changed practices to avoid “Draconian” regulation.
- Spanish Bullrings, Fake Eiffel Towers Can't Prevent 20% Unemployment Rate Bullrings and fake Eiffel Towers may not be enough to hold back the tide of surging unemployment in Spain, Europe’s one-time engine of job growth.
- Germany's Top Nazi-Hunter Finds `Best Break' in Years in Brazilian Archive German investigators trying to track down Nazi criminals before they die may have had their “best break” in years after discovering a trove of Brazilian immigration files more than half a century old.
- Beijing Auto, Merbanco, Renco Said to Make Approaches About GM's Saab Unit Beijing Automotive Industry Holding Co., Merbanco Inc. and Renco Group Inc. have made approaches about General Motors Co.’s Saab unit after a sale to Koenigsegg Group collapsed, two people familiar with the situation said.
- Siemens Hearing Aids Unit Said to Attract Interest From KKR, BC Partners Siemens AG’s hearing aid business, valued at as much as 3 billion euros ($4.5 billion), is drawing interest from private-equity firms including KKR & Co. L.P. and BC Partners Ltd., two people familiar with the matter said.
- Feinberg's Stumping Helps Obama White House Skirt Public Outcry Over Pay Kenneth Feinberg’s decision to slash executive pay at taxpayer-rescued companies was “sheer stupidity,” says Home Depot Inc. co-founder Kenneth Langone. Not so, says compensation analyst Paul Hodgson: If anything, Feinberg is a “pay kitten” soft on Wall Street.
Bloomberg Daily News 30th November 2009
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