Private Equity’s Private Math

To the casual observer, the investment returns recently announced by the California pension system might seem like cause for celebration. The state’s investments in firms that buy private companies on paper generated a 20 percent return in 2014 California’s $30 billion worth of private equity investments had not come cheap, however, incurring almost $440 million worth…

Apparent Default By Chinese Developer Worrisome

A Chinese property developer, which was seemingly in good financial shape until recently, appeared to default on an offshore bond payment Thursday, raising concerns among international investors with an interest in the country’s property market, according to reports. Kaisa Group Holdings Ltd., which is listed on the Hong Kong stock exchange, appeared to miss interest payments…

Hackers Target German Steel Mill As Cyberwarfare Gets Physical

Hackers infiltrated a German steel mill and made it impossible to safely shut down a furnace, according to a German security report quietly published before the new year. The breach, which caused “massive” damage, marks just the second time a digital attack caused physical damage, highlighting growing fears that cyberwarfare will soon impact more than computers…

China’s Xi Jinping Woos Latin America With $250B In Investments

(Reuters) – Chinese President Xi Jinping pledged on Thursday $250 billion in investment in Latin America over the next 10 years, as part of a drive to boost Beijing’s influence in a region long dominated by the United States. Leaders of the Community of Latin American and Caribbean States, or CELAC – a bloc of 33…

Germany Is Losing Its Battle With The European Central Bank

The eurozone’s dip into deflation has member countries leaning hard on the European Central Bank to roll out a bond-buying program to jolt the economy, an option that Germany has strongly opposed. But analysts say in light of the gloomy economic figures, the question now isn’t whether the ECB will take the leap – but how.…

UK, Greek Election Anxiety May See Brexit Feed Grexit

(Reuters) – British elections in May could arguably have as much impact on euro zone stability as this month’s snap poll in Greece, making for an anxious period of up to six months for European investors. Two new themes for 2015 are already in play on financial markets: an echo of the 2011/12 euro crisis via…

Obama Taps Community Banker Allan Landon For Fed Board

(Reuters) – President Barack Obama on Tuesday nominated former community banker Allan Landon to a seat on the U.S. Federal Reserve’s board, responding to calls for a greater voice for Main Street in the central bank’s deliberations. Landon, a partner at private investment fund Community BanCapital, was chief executive of the Bank of Hawaii from 2004…

Christie Pushed Port Authority To Give Contract To Jerry Jones’ Firm

Less than two years before Dallas Cowboys owner Jerry Jones paid for New Jersey Gov. Chris Christie’s tickets and travel to NFL games, government documents show Christie personally pushed the Port Authority to approve a lucrative contract for a firm part-owned by Jones. Christie nonetheless accepted the gifts from Jones, despite New Jersey ethics rules barring…

Venezuelan McDonald’s Facing French Fry Shortage

McDonald’s restaurants in Venezuela will no longer be asking the quintessential fast-food question: “Would you like fries with that?” Instead, they may be asking customers if they’d like deep-fried arepa flatbreads or yucca, two alternative sides that are part of the local cuisine. That’s because McDonald’s in Venezuela is experiencing a french fry shortage. More than…

How Does China Fight Slow Growth? With Tons Of Money

Facing the prospect of the slowest growth since the global recession in 2009, China is about to engage in a massive economic stimulus program. The $1.1 trillion deal would expedite hundreds of infrastructure projects across seven sectors, from mining to health care. “It’s part of China’s efforts to stabilize growth, and the news will help to…

$5M In Bitcoins Stolen In Bitstamp Hack

Bitstamp, the European bitcoin exchange, confirmed Monday about $5 million in bitcoins was stolen from its hot wallets. The exchange was taken offline after the theft of 18,866 bitcoins was discovered. Bitstamp CEO Nejc Kodri? said the hack occurred Sunday but customer accounts “will be honored in full.” To restate: the bulk of our bitcoin are…

Smugglers Get Rich From Thousands Fleeing Syria

Human traffickers made more than $1 million from the nearly 500 migrants aboard just one “ghost ship,” which Italian sailors found abandoned off the heel of Italy on Friday, according to a statement from Frontex, the European Union’s border agency. Thousands of desperate refugees from war-torn Syria have fled to Italy this year, Agence France-Presse reported.…

Do analysts get it right with bank stocks?

The value of analyst recommendations is a frequently debated topic on the Street and beyond, and a new report from Citi Global Research shows there is a discrepancy between the performance of banks in the U.S. and Europe. Analyst Ronit Ghose found that the five “most loved” bank stocks in Europe outperformed the sector by a…

Britain’s Top Companies To Splash Out $131B In Dividends: Study

(Reuters) – Britain’s biggest companies are set to lavish 85.3 billion pounds ($131 billion) on their shareholders in 2015 as they draw on their cash hoards to supplement regular dividends with additional one-off payouts, a study said on Monday. The total level of payouts would be 10.8 percent more than last year, excluding Vodafone’s return of…

Huawei’s $46B In 2014 Revenue Highlights Chinese Telecom Boom

The Chinese telecommunications-equipment company Huawei Technologies Co. Ltd. anticipates its already impressive annual revenue to continue growing, according to a new year’s message from CEO Ken Hu cited by Reuters. Because of advances in cloud computing and higher demand for smart devices, the firm expects to have booked $46 billion in sales last year, a boost…

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Private Equity’s Private Math

Private Equity’s Private Math