Corporate Assets
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Feb 1- Asset manager Legg Mason Inc said on Friday it swung to a quarterly loss due to charges for impaired assets, and reported continued outflows from its equity and bond funds. Legg Mason reported a net loss of $453.9 million, or $3.45 per share, for the three months ended Dec. 31, its third fiscal quarter.
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*Spot gold rises to one-week high of $1,682.90/ oz after U.S. 4 Q GDP. London, Jan 30- Gold rallied to a session high of $1,682.90 an ounce on Wednesday, reasserting its safe-haven properties after U.S. growth data missed expectations and dented appetite for riskier assets. Spot gold rose as much as 1.1 percent to a one-week high of $1,682.90 an ounce.
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Jan 29- Asset manager T. Rowe Price Group Inc's fourth-quarter profit rose 23 percent on higher investment advisory revenue, but the Baltimore firm on Tuesday reported a rare outflow of customer cash. T. Rowe Price's assets rose $2.4 billion to a record $576.8 billion during the quarter.
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MADRID, Jan 29- Spain's Repsol is negotiating the sale of a block of liquefied natural gas assets with more than one international bidder and expects to finalise a deal in the coming weeks, a source with knowledge of the matter said.
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*Study highlights risk bond buying could lead to losses. WASHINGTON, Jan 28- The U.S. Last year, remittances hit a record $89 billion thanks to income from assets on its balance sheet, which has more than tripled to almost $3 trillion since the financial crisis struck in 2007..
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BOSTON, Jan 28- A bankruptcy judge on Monday froze the assets of the owners of the pharmacy linked to a deadly U.S. meningitis outbreak. Bankruptcy Judge Henry Boroff temporarily restrict the owners of New England Compounding Center from selling their luxury homes or spending up to $21 million they received last year in salary and shareholder distributions.
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Jan 28- Powerwave Technologies Inc, which makes wireless antennas, filed for Chapter 11 bankruptcy protection on Monday as its losses ballooned over the past year. The company listed assets of $213.5 million and liabilities of $396.1 million, according to documents filed in the U.S. Bankruptcy Court in Wilmington, Delaware.
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*MSCI Asia ex- Japan steady, Nikkei opens up 1.7 pct. TOKYO, Jan 25- Asian shares were steady on Friday after solid global economic data boosted investor appetite for riskier assets, while the yen hit fresh lows on expectations Japan will pursue bold policies to beat deflation and stimulate growth.
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*MSCI Asia ex- Japan steady, Nikkei opens up 1.7 pct. TOKYO, Jan 25- Asian shares were steady on Friday after solid global economic data boosted investor appetite for riskier assets, while the yen hit fresh lows on expectations Japan will pursue bold policies to beat deflation and stimulate growth.
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TOKYO, Jan 23- The Bank of Japan appears to have accomplished a tactical masterstroke in giving Prime Minister Shinzo Abe an ambitious inflation target and an "open ended" commitment to buying assets, without expending any of its policy firepower.
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*Abu Dhabi govt, related entities to own 37 pct of new firm. ABU DHABI, Jan 21- Abu Dhabi's two biggest property firms have agreed a state-backed, all-share merger to create a business with $13 billion of assets which the government hopes can stabilise a market hit by oversupply and falling prices.
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*Abu Dhabi govt, related entities to own 37 pct of combined firm. ABU DHABI, Jan 21- Abu Dhabi's two biggest property firms, Aldar Properties and Sorouh Real Estate, have agreed on a state-backed, all-share merger that would create a firm with $15 billion in assets and could help to stabilise the emirate's struggling real estate sector.
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LONDON, Jan 14- New Generali boss Mario Greco said the sale of non-core assets would raise some 4 billion euros as part of a turnaround strategy that promises to boost profit by focusing on "value over volume".
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U.S. equity funds are reporting $19 billion worth of inflows this week. Mark Teed, Teed Capital Management, weighs in.
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TOKYO, Jan 7- Benchmark 10- year Japanese government bonds stabilised on Monday after a sell-off in the previous session, as profit-taking in Tokyo shares helped support fixed-income assets.
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SINGAPORE, Jan 4- Brent crude fell below $112 a barrel on Friday as growing doubts within the U.S. Federal Reserve about the side effects of its stimulus programme and the prospect of more budget battles in Washington curbed investor appetite for riskier assets.
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SINGAPORE, Jan 4- Brent crude fell below $112 a barrel on Friday as growing doubts within the U.S. Federal Reserve about the side effects of its stimulus programme and the prospect of more budget battles in Washington curbed investor appetite for riskier assets.
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*Investors eye congressional- White House battles ahead. The Fed's policy of easy credit has helped push the S&P 500 to a 13.4 percent gain in 2012. Ending that policy would remove an incentive for investors to purchase riskier assets like stocks.
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Jan 3- A U.S. bankruptcy judge could soon rule on whether the 2009 government-led restructuring of General Motors Co improperly favored hedge funds, and an adverse ruling could cost the automaker nearly $1 billion. After the automaker, or "Old GM," filed for bankruptcy in 2009, its best assets were sold to the new General Motors Co.
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Dec 28- The Tribune Co, owner of the Los Angeles Times and the Chicago Tribune, will emerge from bankruptcy on Dec. 31, sources said on Friday, ending four years of Chapter 11 protection and setting the stage for the new company to sell off its newspapers to focus on the WGN cable channel and other TV assets.