- Alcoa Gets Energy Chill From Australia's $130 Billion Natural Gas Boom Australia is attracting more than $130 billion of investment in some of the world’s richest natural gas fields to supply buyers in Japan and China. Domestic customers, including Alcoa Inc., will have to wait.
- Insurers Bought Most Company Debt Since 2004 as Buffett Saw `Raining Gold' U.S. insurers, holders of more than $2.2 trillion in corporate debt, bought the bonds at the fastest pace in five years in 2009, taking advantage of a market that Warren Buffett said was “raining gold.”
- CDO `Samaritan' Hildene Duels With Fund Goliaths Over Stripping Collateral Hildene Capital Management LLC, the $150 million hedge fund that gained 33 percent last year, is fighting firms 100 times its size to preserve the value of collateralized debt obligations holding bank securities.
- Milberg's Former Class-Action Kings, Out of Prison, Head for Links, Slopes The four lawyers who ran Milberg Weiss Bershad Hynes & Lerach LLP, the firm that got investors $45 billion from securities lawsuits against publicly traded companies, are reacquainting themselves with life on the outside now that they’ve left prison.
- Greek Banks' Struggle to Make Profits May Trigger Credit-Rating Cut at S&P Profitability at Greece’s largest banks may be “challenging” in coming years as the country’s economy deteriorates, which may trigger a cut of the lenders’ credit ratings, Standard & Poor’s said.
- Norway's CEOs Race Inmates in `Dead Hard' Annual Cross Country Ski Event The Birkebeiner, Norway’s annual cross-country ski race, is attracting a record turnout, with chief executive officers and prison inmates lining up among tomorrow’s 16,150 participants.
- Finland Industry Group Seeks Labor-Law Change as Strike Blocks Sea Trade Finnish stevedores agreed to end a strike that shut ports for more than two weeks and halted 90 percent of the Nordic nation’s foreign trade.
- Enel to Seek Banks This Month to Advise on Green Power IPO, CEO Conti Says Enel SpA plans to seek banks this month to advise on the initial public offering of its renewable energy unit, likely to be Europe’s largest since 2007.
- Erdogan Thwarting Judges Amid Army Probes Fails to Upset Turkey's Markets Prime Minister Recep Tayyip Erdogan, whose government is already backing an investigation of senior Turkish military officers, this month will seek curbs on a judiciary that has teamed with the army to oppose his Islamist-rooted party.
- Mexico Tourism Drops as Drug Gangs, Economy Rain on Spring Breakers' Party Mexican tourism revenue may decline for a second year as violent clashes between drug gangs and a weak U.S. job market threaten to spoil its spring break party.
- Traders' Mobile Phones Would Be Recorded in U.K. Plan to Curb Inside Deals Traders’ mobile-telephone calls may be taped in an effort to stamp out insider trading, according to proposals from the U.K. financial regulator.
- Zapatero's Campaign to Avoid Greek Deficit Fate Hobbled by Spanish Regions Prime Minister Jose Luis Rodriguez Zapatero’s drive to show Spain can avoid Greece’s fate is being held hostage by the country’s regional governments.
- Malone's Liberty, Elliott Said to Drop Out of Metro-Goldwyn-Mayer Bidding John Malone’s Liberty Media Corp. and hedge fund Elliott Management Corp. have decided not to bid for the Metro-Goldwyn-Mayer Inc. movie studio, according to people with knowledge of the bidding.
Bloomberg Daily News 22nd March 2010
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