Thursday, 11 Sep 2014 | 1:18 PM ET

GE's hotshot Oil & Gas chief peers into future

Posted By: Mary Thompson

Lorenzo Simonelli is 41, slim, nice looking and well spoken. He also possesses an impressive resume.

Last October he was tapped to run General Electric's fastest-growing business, GE Oil & Gas, and prior to that, he ran GE Transportation.

Simonelli will be closely watched both inside and outside of the conglomerate. He is often mentioned as a potential candidate to succeed his boss, Jeff Immelt, who became CEO of the company in 2001 at the tender age of 44.

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  Wednesday, 10 Sep 2014 | 11:03 AM ET

Throw away the key! Pols want bad bankers jailed

Posted By: CNBC.com staff
Sen. Elizabeth Warren
Getty Images
Sen. Elizabeth Warren

If two senators get their way, executives—and not just the banks they run—will face punishment for bad behavior in the future.

What's more, the sentiment is shared across party lines, with Sens. Elizabeth Warren , D-Mass., and Richard Shelby, R-Ala., both expressing concern that while banks have faced billions in penalties for actions that precipitated the financial crisis, no individual CEOs have been held responsible.

"No corporation can break the law unless the individual within that corporation broke the law," Warren said during a committee hearing Tuesday, according to an account in The Hill. "Not a single senior executive at these banks (has) been criminally prosecuted."

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  Tuesday, 9 Sep 2014 | 1:28 PM ET

Big money disagrees on investing in Russia

Posted By: Lawrence Delevingne
An employee works in the offices of the OAO Moscow Exchange.
Andrey Rudakov | Bloomberg | Getty Images
An employee works in the offices of the OAO Moscow Exchange.

The turmoil between Russia and Ukraine has created a rare opportunity to buy low-cost assets, according to some large investors. For others, securities are cheap for very good reasons and they say Russia should be avoided.

"When I went to look for all these cheap stocks and said, 'Here we go, this is the cheapest market in the world, I know I can find some really nice alpha,' I found it much more difficult," said Jamieson Odell, deputy global portfolio manager at emerging and frontier market hedge fund firm Caravel Management.

Odell, speaking Monday night at the NYSSA Russian and Central & Eastern European Capital Markets Conference, said there were some excellent Russian retail, food and Internet companies, such as Magnit, but their stock valuations were high and therefore expensive relative to the potential reward. And cheap stocks, he said, usually have "really big" corporate governance issues or "terrible" balance sheets.

"The cheap things really are cheap for a reason," Odell said.

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  Tuesday, 9 Sep 2014 | 1:17 PM ET

Pimco exec: The Fed HAD to pump up the market

Posted By: Jeff Cox
Paul McCulley, chief economist of Pimco, is shown at the firm's headquarters in Newport Beach, Calif.
Patrick T. Fallon | Bloomberg | Getty Images
Paul McCulley, chief economist of Pimco, is shown at the firm's headquarters in Newport Beach, Calif.

Pimco's Paul McCulley believes the Federal Reserve has a direct desire to pump up the U.S. stock market, even if it won't acknowledge so explicitly.

Fed officials rarely mention stock prices in their public remarks, but McCulley thinks there's plenty of conversations behind the scenes, where central bankers are hoping that the soaring stock market eventually pays dividends to the much slower-moving economy.

In his latest monthly missive to investors, the firm's managing director and chief economist explains the strategy and its uncomfortable ramifications:

It is not a tasteful choice for the Fed at all. It reeks with social injustice. But it also happens to be the only viable choice: Use all available powers, with whatever-it-takes abandon, to reflate prices that are amenable to going up: long-term bonds and stocks.

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  Tuesday, 9 Sep 2014 | 11:38 AM ET

Mario Gabelli: Wall Street's $85 million man

Posted By: Jeff Cox
Mario Gabelli
Adam Jeffery | CNBC
Mario Gabelli

Wall Street likes to call him "Super Mario," and in 2013 the moniker fit in more ways than one.

Mario Gabelli, the head of GAMCO Investors and widely followed market guru, pulled down $85 million in compensation last year, putting him on top of the mountain among his peers in asset management and elsewhere, according to an analysis by financial services firm SNL.

Perhaps just as remarkably, Gabelli receives no actual salary. Instead, he made this money based solely on incentives related to his company's growth. GAMCO's assets under management soared 78 percent from 2009 to 2013, rising from $26.35 billion to just over $47 billion.

»Read more
  Tuesday, 9 Sep 2014 | 10:26 AM ET

Mining CEOs call for action against Ebola

Posted By: Lawrence Delevingne
A health officer at a state hospital in Kenema, Sierra Leone on Aug. 23, 2014.
Mohammed Elshamy | Anadolu Agency | Getty Images
A health officer at a state hospital in Kenema, Sierra Leone on Aug. 23, 2014.

A group of 11 chief executive officers of international mining companies working in West Africa are calling for fewer travel restrictions in the face of the Ebola epidemic.

"We are understandably concerned about the impact of the Ebola virus on affected countries' economies and the well-being of their people, which is being compounded by subsequent decisions and actions that affect travel to and trade with the region," a joint statement said.

The letter was signed by ArcelorMittal's Lakshmi Mittal, London Mining's Graeme Hossie, Newmont Mining's Gary Goldberg and Randgold's Mark Bristow, among others.

The letter lists two demands. One is to end to travel bans, which have been instituted by African flight hubs South Africa and Kenya to lock out visitors from Sierra Leone, Liberia and Guinea, the hardest-hit countries. The second was for more international coordination on the crisis.

Read MoreEbola along-term 'blip' for Africa investors

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  Monday, 8 Sep 2014 | 1:18 PM ET

Janjuah: Central banks to boost market—for now

Posted By: Jeff Cox

Stocks are in for a period of volatility that will present a strong buying opportunity, according to Bob Janjuah, the often-bearish strategist at Nomura Securities.

The reason for his optimism of sort: Any market weakness will be met with a flurry of central bank activity, the likes of which has helped prop up the S&P 500 to a 200 percent gain since the March 2009 financial crisis low.

"I would use any risk asset weakness over the balance of September and early October as an opportunity to BUY risk into year-end/early 2015," Nomura's co-head of asset allocation strategy said in a note. "On balance I feel that beyond the next three to four weeks, I am mildly bullish risk on a three- to four-month time frame. The drivers are likely to be central banks, as well as the usual seasonality factor, which tends to drive risk assets up into year end."

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  Monday, 8 Sep 2014 | 3:43 PM ET

Chief of $1 billion Juilliard endowment is leaving

Posted By: Lawrence Delevingne
Karina Canellakis leading the Juilliard Orchestra at Alice Tully Hall on Thursday night, May 22, 2014.
Hiroyuki Ito | Getty Images
Karina Canellakis leading the Juilliard Orchestra at Alice Tully Hall on Thursday night, May 22, 2014.

David Marcus, who led the Juilliard School's endowment out of financial crisis losses with the help of hedge fund pioneer Bruce Kovner, is set to depart.

Marcus will leave the elite music, dance and drama school at the end of September, according to two people familiar with the situation. The move has not been publicly announced and no successor has been named to be chief investment officer for the Juilliard endowment. Marcus' next position is unclear. He and a spokesman for Juilliard did not respond to requests for comment.

The move is notable because of the New York City-based school's relatively large financial position—more than $1 billion in total assets despite only about 850 total students—and Marcus' sophistication as an investor. Juillard's board chairman is Caxton Associates founder Kovner, and its directors include numerous Wall Street executives.

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  Monday, 8 Sep 2014 | 10:49 AM ET

Alibaba looks to build big cash stash for buyouts

Posted By: Kayla Tausche

In a video prepared by Alibaba executives for potential investors, the company's genesis is described as one to help small, Chinese wholesalers compete with global players.

With Alibaba's massive initial public offering coming down the pike, the company's own global ambitions are becoming more apparent—even in the structure of the deal. (Watch the video here.)

Alibaba disclosed Friday its plans to sell 320 million shares at up to $66 apiece. While the size of the offering has been arranged for some time, people familiar with the deal said, the portion of new shares to be issued by the company is higher than originally planned.

The reason is simple: More proceeds will go to the company's coffers instead of those of investors like Yahoo, which bought a 40 percent stake in Alibaba in 2005 for a then-paltry $1 billion. Yahoo previously told investors it would sell up to 208 million shares, but that number in the most recent filing decreased to roughly 122 million shares.

»Read more
  Monday, 8 Sep 2014 | 7:00 AM ET

Private equity preps Latin America push

Posted By: Lawrence Delevingne
Rio de Janiero, Brazil
Dado Galdieri | Bloomberg | Getty Images
Rio de Janiero, Brazil

Private equity and venture capital firms are setting up for more bets in Latin America after strong fundraising this year.

Some $3.5 billion earmarked for the region was collected during the first half of 2014, according to new data from the Latin American Private Equity & Venture Capital Association.

A host of major new funds hit the market this year, including regionally focused offerings from Blackstone Group partner Pátria Investimentos, JPMorgan Chase unit Gávea Investimentos, Advent International, and Carlyle Group. A total of 23 PE and VC funds reached their fundraising targets in the first half.

"This is a dynamic period for private equity fundraising and we expect year-end 2014 totals to likely reach $8 billion," LAVCA president Cate Ambrose said in a statement.

The previous high came in 2011, when a record $10.27 billion was raised.

»Read more

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