- Singapore's GIC, Abu Dhabi Face $10 Billion Loss on UBS, Citigroup Stakes It took the Government of Singapore Investment Corp. three days in 2007 to agree to prop up UBS AG, ailing from subprime losses. It may take a decade to recoup that investment of 11 billion Swiss francs ($10 billion).
- Drought Threatens Syria's Economy as 300,000 Families Flee Parched Farms A few miles beyond an irrigated golf course on the outskirts of Damascus, scores of refugees fleeing drought in Syria’s northeastern breadbasket have settled into tents on a rocky field.
- Earth's Axis Probably Shifted in Chilean Earthquake, NASA Scientist Says The earthquake that killed more than 700 people in Chile on Feb. 27 probably shifted the Earth’s axis and shortened the day, a National Aeronautics and Space Administration scientist said.
- `Golden Era' May Elude Private-Equity Investors as Deal Valuations Climb Private-equity firms tell investors that the years following recessions offer the best opportunity to make money. This time may be different.
- Microsoft to Make Web-Based Programs a Billion-Dollar Business, Elop Says Microsoft Corp.’s business-software unit expects to get at least $1 billion from Web versions of its Office and e-mail programs in the next three to five years, said Stephen Elop, head of the division.
- Google May Spend `Hundreds of Millions' on Its Broadband Internet Project Google Inc. said it may spend as much as “hundreds of millions” of dollars on an experimental broadband service that offers Internet speeds 100 times faster than current networks.
- Google's Angels Tweet and Dine on Tofu Wraps as They Bankroll 200 Startups During the holidays last year, Aydin Senkut and Elad Gil gathered 50 of their friends at a health- food restaurant in Palo Alto, California. Over turkey burgers and tofu wraps, they talked about technology trends and how to get rich. Or, more precisely, how to get richer.
- Germany Considering Buying Greek Bonds Through State's KfW, Lawmakers Say Germany is considering buying Greek bonds through state-owned lender KfW Group, German lawmakers said today.
- Gap Contacted by Antitrust Regulator on Simon Property's Prime Outlet Deal Gap Inc. was contacted by the Federal Trade Commission about Simon Property Group Inc.’s proposed acquisition of Prime Outlets Acquisition Co.
- SAC's Cohen Trades Secrecy for Golf With Investors Enticed by 30% Returns In late January, billionaire Steven A. Cohen hosted a golf outing for two dozen people at the Bear Lakes Country Club in West Palm Beach, Florida.
- Toyota Recalls Traced Back to Cost Cuts, Growth That `Hijacked' Quality Katsuaki Watanabe, Toyota Motor Corp.’s former president, did something at his first meeting with U.S. investors out of character for a leader of Japan’s biggest automaker: He boasted of what he’d accomplished.
Bloomberg Daily News 2nd March 2010
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