Financial services
A flurry of high-stakes corporate deals and scandals captured the nation's attention last week, with the proposed acquisition of BellSouth by AT&T and the controversy surrounding a Dubai-controlled company's bid to run major ports in the US dominating headlines. The week also saw a
Financial services
Pennsylvania Real Estate Investment Trust (PREIT) will participate in the 2006 Citigroup REIT CEO Conference, with Edward Glickman, PREIT's President and COO, and Robert McCadden, PREIT's Executive Vice President and CFO, presenting a roundtable presentation on Wednesday, March 8, 2006 at 8:45 a.m. Eastern
Financial services
Standard Chartered's attractive presence in emerging Asia, particularly in countries with strong GDP growth, is poised to drive significant profit gains in the coming years. Despite a 31% increase in net profit to $14.52 billion, the bank's shares are unlikely to see a substantial boost,
Financial services
PS Business Parks, Inc., a leading provider of commercial properties, will participate in the 2006 Citigroup REIT CEO Conference, where President and Chief Executive Officer Joseph D. Russell, Jr. will deliver a presentation. The conference will take place on March 6, 2006, at The Breakers in Palm Beach, Florida. The
Financial services
Coles Myer, Australia's largest retailer, is grappling with the decision to either retain and restructure its ailing Myer department store chain or sell it, amidst concerns that the latter option could enable a new owner to convert the stores into discount department stores, cannibalizing sales from Coles Myer&
Financial services
Grameen Foundation USA is set to announce a new global program that will provide as much as $50 million in credit guarantees to poverty-focused microfinance institutions. The GFUSA Growth Guarantees program was developed in collaboration with Citigroup and will be unveiled at the Clinton Global Initiative meeting. The program aims
Financial services
Private bankers at upscale law firms, such as Citigroup and Wachovia, are developing relationships with senior attorneys, providing them with specialized financial services and investment opportunities tailored to their profession. These services include managing investments, securing mortgages, administering blind trusts, and waiving traditional requirements for investing in hedge funds and
Financial services
Pacific Gold Corp., a US-based mineral exploration and development company, has acquired Project W, a large tungsten-based deposit in Nevada, USA, for $700 million. The acquisition is a significant milestone for the company, whose mission is to acquire up to $2 billion of mineral deposits by 2009. With the acquisition
Financial services
The July sales of previously owned homes in the United States dropped 2.6% to a seasonally adjusted annual rate of 7.16 million, the third-highest level ever. This decline came despite a 4.7% increase from July 2004 sales. The National Association of Realtors reported that inventories of homes
Financial services
Marjorie Magner, chairwoman and chief executive of Citigroup Inc.'s Global Consumer Group, will leave the company to pursue a career change outside the financial services industry, effective October 1. This announcement follows the July 14 news of Citigroup president and chief operating officer Robert B. Willumstad seeking the
Financial services
Market participants await the release of the U.S. Department of Agriculture's crop report on Friday, leading to a quiet trading session on Thursday. Chicago Board of Trade soybean futures finished the day at modestly lower levels, while soymeal settled higher and soyoil ended lower. The market lacked
Financial services
MetLife, the largest life insurer in the US, has completed a massive acquisition of Citigroup's Travelers Life & Annuity, expanding its global reach and distribution network in Asia. The deal, valued at US$11.8 billion, includes joint ventures in Hong Kong and Japan, offices in China, and
