George's Feed
Sep 21, 2011

Analysis: WaMu ruling may change big bankruptcy negotiations

By Tom Hals

(Reuters) – For big hedge funds that throw themselves into large bankruptcies with an eye on outsized profits, the Chapter 11 case of Washington Mutual Inc may be remembered as a game-changer.

A Delaware bankruptcy judge’s ruling in the case rejecting the company’s reorganization plan could chip away at the funds’ underlying investing strategy and change how large restructurings are negotiated, according to legal experts.

Sep 19, 2011

UniCredit’s capital options lie eastwards

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own)

By George Hay

LONDON, Sept 19 (Reuters Breakingviews) – Federico Ghizzoni
needs to make up for lost time. The chief executive of UniCredit
(CRDI.MI: Quote, Profile, Research) missed a good chance to recapitalise the Italian bank
in the spring, when most of its peers raised equity. Since then,
the euro zone maelstrom has spread to his home country.
Fortunately, he still has options.

Sep 19, 2011

Breakingviews-UniCredit’s capital options lie eastwards

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own)

By George Hay

LONDON, Sept 19 (Reuters Breakingviews) – Federico Ghizzoni
needs to make up for lost time. The chief executive of UniCredit
(CRDI.MI: Quote, Profile, Research) missed a good chance to recapitalise the Italian bank
in the spring, when most of its peers raised equity. Since then,
the euro zone maelstrom has spread to his home country.
Fortunately, he still has options.

Sep 13, 2011

News Corp shareholders file new allegations

By Andrew Longstreth and Tom Hals

(Reuters) – The board of News Corp knew more than 10 years ago that the company’s U.S. subsidiaries were illegally hacking competitors’ computers, according to a revised lawsuit filed by shareholders on Tuesday.

Beyond phone hacking by some of the company’s journalists in the U.K., the News Corp board was also long aware of improper conduct at two U.S. subsidiaries, News America Marketing and NDS Group, according to allegations in the lawsuit.

Sep 12, 2011

Dallas Stars hockey team to be sold in bankruptcy

By Tom Hals

(Reuters) – The Dallas Stars hockey team plans to file for bankruptcy this week with a proposal for a quick sale to a Canadian businessman for about $230 million, according to sources close to the talks.

The proposed sale to Tom Gaglardi, whose Vancouver-based investment firm owns Moxie’s Restaurants and Sandman Hotels, Inns & Suites, will be subject to higher bids.

Sep 9, 2011
via Breakingviews

Four crucial calls for the shape of UK banks

By George Hay and Peter Thal Larsen The authors are Reuters Breakingviews columnists. The opinions expressed are their own.

Sir John Vickers is about to drop his bombshell. On Sept. 12, the chairman of Britain’s Independent Commission on Banking will unveil the results of a 14-month probe into stability and competition in the UK sector. The ICB’s mission is to solve what finance minister George Osborne has dubbed the “British dilemma”: how to maintain a large financial industry while protecting taxpayers from future bailouts.

Sep 9, 2011

Breakingviews-Four crucial calls for the shape of UK banks

(The authors are Reuters Breakingviews columnists. The opinions
expressed are their own)

By George Hay and Peter Thal Larsen

LONDON, Sept 9 (Reuters Breakingviews) – Sir John Vickers is
about to drop his bombshell. On Sept. 12, the chairman of
Britain’s Independent Commission on Banking will unveil the
results of a 14-month probe into stability and competition in
the UK sector. The ICB’s mission is to solve what finance
minister George Osborne has dubbed the “British dilemma”: how to
maintain a large financial industry while protecting taxpayers
from future bailouts.

Sep 9, 2011

French banks’ funding flames fuelled by Basel

(The authors are Reuters Breakingviews columnists. The opinions
expressed are their own)

By Margaret Doyle and George Hay

LONDON, Sept 9 (Reuters Breakingviews) – BNP Paribas
(BNPP.PA: Quote, Profile, Research) and Societe Generale (SOGN.PA: Quote, Profile, Research) may be disappointed if
they reckon that their statements this month on funding will
ease investor concerns. While shares in both French banks
enjoyed a relief rally on Sept. 8, they are still down 40 and 54
percent respectively since early July. Both groups want to show
that these sell-offs are fuelled by market hysteria, not
fundamentals. But the Basel Committee’s tough new liquidity
rules suggest the opposite.

Sep 9, 2011

Breakingviews-French banks’ funding flames fuelled by Basel

(The authors are Reuters Breakingviews columnists. The opinions
expressed are their own)

By Margaret Doyle and George Hay

LONDON, Sept 9 (Reuters Breakingviews) – BNP Paribas
(BNPP.PA: Quote, Profile, Research) and Societe Generale (SOGN.PA: Quote, Profile, Research) may be disappointed if
they reckon that their statements this month on funding will
ease investor concerns. While shares in both French banks
enjoyed a relief rally on Sept. 8, they are still down 40 and 54
percent respectively since early July. Both groups want to show
that these sell-offs are fuelled by market hysteria, not
fundamentals. But the Basel Committee’s tough new liquidity
rules suggest the opposite.

Sep 8, 2011

Legal support firm A. Gallo seeks bankruptcy sale

WILMINGTON, Delaware (Reuters) – Alexander Gallo Holdings LLC, one of the largest U.S. providers of litigation services, plans to sell its business to an investment firm after a sharp drop in sales forced it into bankruptcy.

Alexander Gallo provides about 10,000 law firms and companies with court reporting and electronic discovery services. Business has fallen sharply as law firms and companies have scaled back their use of outside legal services during the economic slowdown.

    • About George

      "George Hay writes about the banking and property sectors. He joined from Thomson Financial News, where he was a companies correspondent. Before that he worked at United Business Media, where he was news editor of Building Magazine. He has a first in English Literature from Edinburgh University, and was nominated in two categories at the 2009 Business Journalist of the Year Awards."
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