Tim's Feed
Jun 30, 2015

Major Puerto Rico investor warns it stands ready to defend bonds

NEW YORK (Reuters) – U.S. fund manager OppenheimerFunds, the largest holder of Puerto Rico debt among U.S. municipal bond funds, warned the island it stands ready to defend the terms of bonds it holds, a day after the governor said he wanted to restructure debt and postpone bond payments.

Puerto Rico’s Governor Alejandro Garcia Padilla could be heading toward a fight with creditors unwilling to take reduced payouts as he tries to restructure the island’s $73 billion debt to relieve its fiscal problems.

Jun 30, 2015

China’s big ambitions stumble at Bahamas resort

Nassau, Bahamas/Beijing (Reuters) – China’s push to extend its influence in the Western Hemisphere has hit an embarrassing setback at an unfinished, $3.5 billion resort and casino project in the Bahamas.

A series of construction delays, funding squabbles, lagging inspections and faulty work at the Baha Mar resort in Nassau have led to contention and finger-pointing in recent months among the local developer, a Chinese state-backed contractor and China’s export finance bank.

Jun 29, 2015

Puerto Rico’s deepening crisis threatens high-yield U.S. funds

By Tim McLaughlin

(Reuters) – Puerto Rico’s deepening financial crisis could speed up an exodus of money from U.S. municipal bond funds that have placed big bets on the cash-strapped Caribbean island.

Investors, for example, pulled $634 million from muni bond funds run by OppenheimerFunds during the first five months of 2015, according to Lipper Inc, a unit of Thomson Reuters.

Jun 13, 2015

Corrected – ‘No stars, no problem’ for Myanmar’s young footballers

YANGON (Reuters) – When Myanmar’s footballers left for the Southeast Asian Games without their two star attractions, Yangon United duo Kyaw Ko and Kyi Lin, few expected them to return from Singapore with a medal.

But the under-23 side, coached by 1993 silver medallist Kyi Lwin, have captured the nation’s imagination by storming through to the semi-finals unbeaten, stirring hopes of a first football gold at the biennial multi-sports games since 1973.

Jun 12, 2015

‘No stars, no problem’ for Myanmar’s young footballers

YANGON (Reuters) – When Myanmar’s footballers left for the Southeast Asian Games without their two star attractions, Yangon United duo Kyaw Ko and Kyi Lin, few expected them to return from Singapore with a medal.

But the under-23 side, coached by 1993 silver medallist Kyi Lwin, have captured the nation’s imagination by storming through to the semi-finals unbeaten, stirring hopes of a first football gold at the biennial multi-sports games since 1973.

Jun 12, 2015

Games-’No stars, no problem’ for Myanmar’s young footballers

YANGON, June 12 (Reuters) – When Myanmar’s footballers left for the Southeast Asian Games without their two star attractions, Yangon United duo Kyaw Ko and Kyi Lin, few expected them to return from Singapore with a medal.

But the under-23 side, coached by 1993 silver medallist Kyi Lwin, have captured the nation’s imagination by storming through to the semi-finals unbeaten, stirring hopes of a first football gold at the biennial multi-sports games since 1973.

Jun 4, 2015

Insight – Mutual funds chase head start on hit IPOs with pre-public investing

BOSTON (Reuters) – U.S. mutual funds are placing bigger bets on privately held companies to get a head start finding the next IPO superstar, a strategy that has yielded some dramatic payoffs and flameouts.

    Fast-growing private companies such as Uber Technologies, Pinterest and India’s Flipkart Online Services have attracted billions of dollars in investment from U.S. mutual funds, marking an increase in overall pre-IPO betting over the past few years, analysts and fund managers said. It’s a way to boost their returns and differentiate themselves from faster-growing index funds.

Jun 4, 2015

Mutual funds chase head start on hit IPOs with pre-public investing

BOSTON, June 4 (Reuters) – U.S. mutual funds are placing
bigger bets on privately held companies to get a head start
finding the next IPO superstar, a strategy that has yielded some
dramatic payoffs and flameouts.

Fast-growing private companies such as Uber Technologies,
Pinterest and India’s Flipkart Online Services have attracted
billions of dollars in investment from U.S. mutual
funds, marking an increase in overall pre-IPO betting over the
past few years, analysts and fund managers said. It’s a way to
boost their returns and differentiate themselves from
faster-growing index funds.

Jun 2, 2015

Myanmar escorting boat crammed with migrants to “safe” area

YANGON, June 2 (Reuters) – Myanmar said a boat crammed with
727 migrants that it has kept stranded at sea for days was being
escorted to a “safe” area for identity checks, bringing fresh
criticism that it was only prolonging the suffering of people
desperate to come ashore.

“The operation is starting. They will be taken to a safe
destination,” Information Minister Ye Htut told Reuters by
telephone, adding that the migrants had been provided with food
and water. He would not disclose that location due to “security
and safety concerns”.

Jun 2, 2015

Myanmar navy to verify 727 stranded migrants in ‘safe’ place

YANGON (Reuters) – Myanmar’s navy is escorting a boat crammed with 727 stranded migrants to a “safe” location where officials will verify their identities before taking any further action, the country’s information minister said on Tuesday.

Correcting an earlier comment that the navy was taking the converted fishing boat to the waters of neighboring Bangladesh, Ye Htut said the migrants were headed to an undisclosed but safe area and had been provided with food and water.