Browsing All Posts published on »March, 2011«

Australia Treasurer: Politics won’t sway ASX-SGX decision – Reuters

March 30, 2011 by

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Australia’s Treasurer Wayne Swan said he would not be influenced by politics in deciding whether to back a $7.5 billion bid by Singapore Exchange (SGXL.SI) for rival ASX Ltd (ASX.AX), as expectations grow that lawmakers will block the proposed deal. ASX shares fell 2.5 percent on Monday after media reports that the government was set […]

ASX-SGX merger proposal lodged with Foreign Investment Review Board – PerthNow

March 30, 2011 by

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SINGAPORE’S stock exchange has lodged an application with the Foreign Investment Review Board (FIRB) for its proposed $8.4 billion merger with Australia’s main bourse. ASX Ltd, which runs the Australian Securities Exchange, and takeover suitor Singapore Exchange Ltd (SGX) last month altered their proposal in order to strengthen the chance of it receiving approval. “ASX […]

Gold falls on US rate-rise expectations – SMH

March 30, 2011 by

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Gold futures fell, capping the longest slump in 11 weeks, on bets that US interest rates will increase as the economy recovers, eroding demand for the metal as an alternative investment. The Federal Reserve may be able to cut about $100 billion from its plan to buy US Treasury securities as the economy rebounds, St […]

Oil price rises as stocks gain strength – SMH

March 30, 2011 by

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Oil edged higher for the first time in four days in New York as an advance in US equities signaled the economic recovery will accelerate. Crude gained as much as 0.8 per cent, erasing an earlier drop, as the Standard & Poor’s 500 Index increased and St. Louis Federal Reserve President James Bullard indicated that […]

Social networking sites overpriced: Buffett – SMH

March 30, 2011 by

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Warren Buffett, the billionaire stock picker and takeover specialist, says investors should be wary of valuations for social networking websites as some of the industry’s biggest companies prepare to sell shares. “Most of them will be overpriced,” Mr Buffett, chairman and chief executive officer of Berkshire Hathaway, said in New Delhi. “It’s extremely difficult to […]

In Brazil, No Room for Leverage at Buyout Firms – NYTimes

March 29, 2011 by

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SÃO PAULO, Brazil — “We use zero leverage.” Luiz Otávio Magalhães, the founding partner of one of the most successful private equity firms in Brazil, was trying to explain his business model to me. His leveraged buyout firm, Patria, easily garners more than 20 percent returns annually. That kind of performance attracted the attention of […]

Global majors shun India oil, gas block auction – Reuters

March 29, 2011 by

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India failed to woo global players in its latest oil and gas exploration licensing round due to its poor track record of commercial discoveries and sluggish bureaucracy, with most of the 33 blocks going to domestic firms. Asia’s third-largest economy needs private capital for exploration and is encouraging local firms to buy stakes in foreign […]