Westpac buys Lloyds’ Australian assets for $1.37 bln

Westpac buys Lloyds’ Australian assets for $1.37 bln (via AFP)

Banking giant Westpac on Friday said it is buying Lloyds Banking Group’s Australian businesses for Aus$1.45 billion (US$1.37 billion), the Australian lender’s largest acquisition in five years. Under the deal, the country’s second biggest bank by market…

Seth Klarman Tells His Investors: Central Banks Are Treating Investors Like “Foolish Children”

Volatility"Surreal doesn't even begin to describe this moment," Seth Klarman noted in his second-quarter letter to the Baupost Group investors.  Commenting on the market developments over the past six months, the value investor stated that events, which would typically occur over an extended time frame, had been compressed into just a few months. He noted Read More