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FundWatch: SEC’s Schapiro defends money-fund reform

Sun, 13 May 2012 15:51:52 +0000

Securities and Exchange Commission Chairman Mary Schapiro on Friday defended her decision to bring new regulations to the $2.5 trillion money-market fund industry by reminding a reluctant audience of the recent financial crisis.

Stocks to Watch: Stocks to watch Thursday: Cisco, Tilly’s, Monster

Thu, 10 May 2012 19:16:46 +0000

Earnings surprises from a pair of trio of high-profile companies — Cisco, Priceline and Monster Beverage — stand out among the corporate headlines for early Thursday.

Temasek, RRJ Capital invest $468 mln in Cheniere

Tue, 08 May 2012 18:55:41 +0000

–Investment to help Temasek expand energy and resources portfolio –Funds will be used to help finance Cheniere’s liquefaction expansion in Louisiana (Recasts lead and adds details throughout including comment from Temasek.) Singapore state investment firm Temasek Holdings Pte. Ltd. and Hong Kong-based private equity group RRJ Capital will jointly invest US$468 million in Houston-based liquefied natural gas firm Cheniere Energy Inc.

Select Medical to buy up to $345 mln of its debt

Tue, 08 May 2012 18:55:38 +0000

Select Medical Holdings Corp. SEM launched an offer to purchase up to $345 million worth of its debt, a refinancing effort it plans to fund with a separate offering of senior notes. The operator of specialty hospitals and rehabilitation centers is offering to purchase any and all of its senior notes coming due in 2015.

Hong Kong stocks fall as mainland China banks hit

Thu, 03 May 2012 17:48:41 +0000

LOS ANGELES (MarketWatch) — Hong Kong stocks dropped in early Thursday trade, with mainland Chinese banks among the loss-leaders after reported plans by Singaporean sovereign investment fund Temasek Holdings Pte to sell up to $2.5 billion worth of shares in two major names. The Hang Seng Index fell 0.5% to 21,210.13, with the mainland bank share losses sending the Hang Seng China Enterprises Index down 1.7%. The Shanghai Composite traded flat. A Dow Jones Newswires report said Temasek was selling stocks in China Construction Bank Corp. and Bank of China Ltd. via private placements at a discount to the shares’ market prices. The news sent CCB down 2.9% and Bank of China lower by 3.7%. This weighed on other major Chinese lenders, with Industrial & Commercial Bank of China Ltd. falling 1.5%, Agricultural Bank of China Ltd. down 1.6%, and China Merchants Bank Co. dropping 2.1%.

Bumi Armada major shareholders trim stakes: report

Sat, 28 Apr 2012 06:39:15 +0000

KUALA LUMPUR -(MarketWatch)- Major shareholders of Bumi Armada Bhd. (5210.KU) are selling about 15% of the oil and gas service provider through a private placement that will raise close to MYR2.00 billion ($655 million), the Edge daily reported Friday, citing unnamed people involved in the deal.

Therese Poletti’s Tech Tales: Facebook should have gone public already

Fri, 27 Apr 2012 06:34:45 +0000

Mark Zuckerberg’s solo deal to buy Instagram, and its big patent deal, could delay the timing of Facebook’s anticipated IPO, which could come possibly after Memorial Day.

SEC charges former CalPERS CEO with fraud

Tue, 24 Apr 2012 13:46:59 +0000

WASHINGTON (MarketWatch) – The Securities and Exchange Commission on Monday charged the former CEO of the California Public Employees’ Retirement System – the largest public pension fund in the U.S. — with falsifying letters that defrauded a private equity firm into paying $20 million in fees. The SEC alleges that former CalPERS CEO Federico Buenrostro and his friend Alfred Villalobos fabricated documents given to New York-based buyout shop Apollo Global Management. The alleged false documents gave Apollo the false impression that CalPERS had reviewed and signed required disclosure letters that met the public pension fund’s internal procedures, the SEC said. John McCoy, associate regional director of the SEC’s Los Angeles unit, said Buenrostro tricked Apollo into paying more than $20 million in fees to Villalobos, a placement agent or matchmaker hired by the private equity firm. CalPERS has roughly $235 billion in assets.

Air China shares halted; parent may inject cash

Fri, 20 Apr 2012 21:10:00 +0000

HONG KONG -(MarketWatch)- Trading in shares of Air China (0753.HK) in Hong Kong and Shanghai were suspended Friday after the Chinese flag carrier said its parent is considering injecting CNY1.05 billion (US$167 million) into the company, mainly to fund an earlier purchase of Cathay Pacific Airways Ltd. (0293.HK) shares.

Stocks to Watch: Stocks to watch Wednesday: Berkshire, Jakks

Fri, 20 Apr 2012 21:09:59 +0000

Much for investors to sort through among the corporate headlines hitting early Wednesday.