Unstructured Finance

Chavez puts a damper on U.S. earnings season

January 29, 2010

CHAVEZVenezuela President Hugo Chavez has rained on the U.S. consumer goods parade.

His government’s decision this month to devalue the Venezuela bolivar promises to hurt the profits of many leading U.S. consumer products makers this year even as they seem to be turning a corner.

The best deal on Wall Street?

January 29, 2010

Investors who don’t want to pay hedge funds’ high minimums can still get a taste of top managers’ best ideas at an exclusive conference in New York next week.

ICICI Bank rises

January 29, 2010

MARKETS-SOUTHASIA/STOCKS

Shares in ICICI Bank rose over 5 percent on Friday after the Reserve bank of India left its short-term interest rates unchanged and only hiked banks’ CRR by 75 bps.

Check Out Line: Holiday cheer in Barbie land

January 29, 2010

BARBIE/ANNIVERSARYCheck out more Barbie dolls making an appearance under the Christmas tree.

Mattel, the world’s largest toy maker, posted higher than expected profit for its quarter that included the holiday season, boosted by strong demand for its Fashionista Barbie dolls and Hot Wheels cars.

Milan’s deserted depots point to double dip

January 29, 2010

 Travelling towards Italy’s major financial centre Milan last Sunday on my way back to Zurich, I spotted something out of the window that had little effect on my fellow train passengers but made my blood run cold.

DealZone Daily

January 29, 2010

ING Group completed the sale of its Asian private banking unit to Singapore’s OCBC, the biggest deal in the private banking sector since the financial crisis. Netherlands-based ING said the sale is in line with its strategy to focus on fewer franchises and reduces the group’s complexity.  Read the Reuters story here.

Morning line-up

January 29, 2010

News and views on the hedge fund sector from Reuters and elsewhere:

tea.jpg

 Ex New Castle exec pleads guilty to insider trading - Reuters

BNY Mellon in talks for PNC unit – Bloomberg

Vanguard moves closer to offering hedge fund – Morningstar

How US universities became hedge funds -  Huffington Post

Why retailers are avoiding bankruptcy (or lessons from Circuit City)

January 28, 2010

Struggling retailers are staying as far away from bankruptcy courts as possible this year after being traumatized by a slew of liquidations in 2008 and having a general feeling that the bankruptcy code is unfair to them.

Tata Steel rises after results

January 28, 2010

TATASTEEL-RESULTS/

Shares in Tata Steel, the world’s No.8 steelmaker by output, soared over 5 percent in intra-day trade and ended 4.8 percent higher at 585.55 rupees.

Check Out Line: The slow return of the splurge

January 28, 2010

Check out signs that consumers are getting more comfortable with spending and, at times, even splurging.