Gold might not have been a great investment, which was evident in a Reuters report about John Paulson not making any additional investments on buillion as his PFR Gold Fund lost 63% this year so far.
Finance/Venture
Aurora Capital Group completes acquisition of National Technical Systems
Aurora Capital Group has completed its previously-announced acquisition of National Technical Systems. The cash acquisition priced at USD 23 per share was at a 39% premium to the closing price of NTS on August 15.
Plastic cards continue to drive world away from true mobile payments
Brian Fung, in his report which appeared on The Switch at The Washington Post, said the world is moving away from true mobile payments as evidenced by the presence of plastic card offerings from various companies.
AssuredPartners completes purchase of Stoutamire-Pavlik & Associates
Florida-based AssuredPartners closed its acquisition of Stoutamire-Pavlik & Associates Inc, an independent insurer located in Monticello Florida. No financial details were given about the deal.
Lightspeed: Here is why we invested in BTCChina
We've been bullish about the opportunities in Bitcoin for a while and are excited to be able to announce that, together with our partners in China at Lightspeed China Partners, we are investors in BTC China.
Latest News
As emerging markets were becoming too volatile for some bond and stock investors, a report said majority of them had turned to frontier markets to generate better returns.
The fate of the joint venture firm of Founder Securities and Credit Suisse have yet to be known after the former reveals its plans to sell its stake in the joint venture and merge with China Minzu Securities.
Resolution Ltd. is looking to sell its business unit Lombard located in Luxembourg. However, terms of the deal were unknown as talks on the sale of Lombard are still in a preliminary stage.
Thirty-one percent of investors said the settlements with regulators and fines issued by regulators against banks for selling shoddy mortgages were not enough to cause a change in the behavior of the lenders, the Bloomberg Global Poll revealed.
In a report, the Business Standard said private equity firms are a significant contribution to the consolidation of IT services and BPO sector in India. There were five private equity transactions closed this year that totaled USD1.13 billion in value.
Novartis told investors that it will be holding a USD 5 billion share buyback in the next two years. The share repurchase will start immediately, according to the Switzerland-based drugmaker.
American asset management firm Oaktree Capital Group was reportedly among the cornerstone investors in China Cinda Asset Management Corp's initial public offering. China Cinda is expected to launch the Hong Kong listing on Monday.
Incoming New York comptroller Scott Stringer will be faced with the challenge of bringing down the management fees paid by the city's five pension funds when he assumes office in January, a Bloomberg report said.
The Dow Jones Industrial Average, for the first time, closed above the psychological threshold of 16,000, extending a stock rally that had already experienced a 22% spike so far this year.
