Peregrine's Wasendorf Sentenced to Maximum 50-Year Sentence

On Thursday, a U.S. judge sentenced Russell Wasendorf, Sr, the founder of Peregrine Financial Group, to 50 years in prison for embezzling hundreds of millions of dollars from clients and defrauding banks for almost two decades. The sentence is the maximum as allowed by law and the former financial executive had also [...]

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Grupo Modelo Anheuser-Busch InBev Deal Blocked By DOJ

The U.S. Department of Justice has sued Anheuser-Busch InBev NV (NYSE:BUD) (EBR:ABI) as a result of the company's $20.1 billion deal to purchase 50 percent of the Mexican brewer Grupo Modelo SAB de CV (PINK:GPMCF). It has alleged the transaction will lessen competition and increase prices in the U.S. [...]

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Greek Pension Fund Balloons On Sovereign Debt Bet

An Athens, Greece-based fund has had its Assets Under Management (AUM) double in the last six months after a big bet in Greek government bonds paid off. Hellenic Pension Mutual Fund Management Company which specializes, as the name would suggest, in investments for pension funds, has seen its assets [...]

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Elliott Associates Up 13% In 2012; Loss on Gold Options

Elliott Associates L.P. returned 13.4 percent in 2012, according to sources close to the matter. The fund, which was created by maven Paul Singer in 1977, had a 2012 that came in broadly in line with its own returns from previous years, but lagged the S&P 500 (INDEXSP:.INX) return of [...]

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Chesapeake Energy Board, Shareholders Now In Tandem: BAML

Chesapeake Energy Corporation (NYSE:CHK)'s board and shareholders are believed to be singing in unison following the resignation of CEO Aubrey McClendon. The Co-Founder of the Oil and gas company was seen as a figure that polarized the relationship between the shareholders and the board.  However, now that he is leaving [...]

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Private Real Estate Up 11% in 2012

Private real estate values rose by 10.5 percent in 2012 according to a recent report from the National Council of Real Estate Investment Fiduciaries. The number is based on the council's NCREIF Property index. The rise in value of commercial property in the United States in 2012 might make investors question [...]

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Earnings Preview: XOM, CVX, NOV, MRK, TSN, MAT, BEAM

Friday is another big day in the earnings calendar, especially for the oil and gas industry. Exxon Mobil Corporation (NYSE:XOM), now the most valuable company in the world, will report its earnings for the last three months of 2012 alongside Chevron Corporation (NYSE:CVX). National-Oilwell Varco, Inc. (NYSE:NOV), a related company [...]

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Wilbur Ross on TARP Losses and Shale Gas Revolution

Wilbur Ross spoke with FOX Business Network (FBN) about economic growth opportunities for the United States through the production of shale gas. Ross stated that “the best way to overcome the negative gross domestic product” would be “to encourage the exploitation of shale gas both for domestic and for [...]

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Chesapeake Energy Corporation (CHK) Future Uncertain As CEO Retires

Chesapeake Energy Corporation (NYSE:CHK) CEO, Aubrey McClendon's imminent departure will see a new board appointed to take charge at the financially distressed Oil and gas company. The company's capital investments skyrocketed over the last couple of years, subjecting it to high levels of debt. However, beginning last year, Chesapeake [...]

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As Distressed Debt Market Size Decreases Trade is Getting Crowded

Debtwire has released its Distressed Debt report for 2012. The report, which relies on interviews with investors in the distressed field, suggests that the U.S. distressed market shrank in recent times. That leaves specialists in the distressed debt field without many opportunities to invest in. The most dramatic example of [...]

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Hawker Beechcraft: When Reorganization Means Resurrection

Reorganization could well mean resurrection. Although not all companies that file for bankruptcy emerge to be better, stronger, some companies use the new lease of life to restructure debts and trim down core operations in order to come out as more valuable and more operationally-successful companies. Such is the [...]

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George Canellos is Likely to Be Next SEC Enforcement Director

Outgoing Securities and Exchange Commission (SEC) Enforcement Director Robert Khuzami is likely to be replaced by his assistant George Canellos, according to a breaking report from FOX Business Network (FBN) Senior Correspondent Charlie Gasparino. Gasparino went on to report that Khuzami is looking to “go to a New York based [...]

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Facebook Inc (FB) Earnings Beat: 17 Cents vs. 15

Facebook Inc (NASDAQ:FB) released earnings for the last three month of 2012 this afternoon after the market closed. The social networking company revealed earnings of $17 cents per share for the period and reported revenues of $1.59 billion. In after market trading, the market met the announcement with derision [...]

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SEC Charges Former Real Estate Executives in $300M Ponzi Scheme

On Wednesday, the Securities and Exchange Commission (SEC) charged five former real estate executives of defrauding investors. They had believed the group had been funding five-star resort developments in Florida and Las Vegas when they were actually conducting a Ponzi scheme. According to a SEC press release, the agency has alleged [...]

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Earnings Preview: UPS, Time Warner, Viacom, Sky, Colgate

Thursday's earnings report will include many companies that provide good indicators of the performance of the consumer sector. Among the companies reporting are United Parcel Service Inc. (NYSE:UPS), Time Warner Cable Inc (NYSE:TWC), Viacom, Inc. (NASDAQ:VIA), British Sky Broadcasting Group plc (ADR) (PINK:BSYBY), and Colgate-Palmolive Company (NYSE:CL). United Parcel Service, Inc. [...]

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ADP: Private Employers Added 192000 Jobs In Jan.

The U.S. private sector added 192000 jobs in January, according to new estimates from payroll processor, ADP.  ADP’s report is partly contributed by Moody’s analytics. Carlos Rodriguez, the chief executive and president of ADP, shared his insight about the report, noting that private sector employers generated an average of 183,000 [...]

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Earnings Preview: BlackStone, DOW, Mastercard, Diageo, Shell

The last day of January is a busy one for earnings reports. January 31 will see companies like The Blackstone Group L.P. (NYSE:BX), The Dow Chemical Company (NYSE:DOW), Mastercard Inc (NYSE:MA), Diageo plc (ADR) (NYSE:DEO), and Royal Dutch Shell plc (NYSE:RDSA) report their Q4 earnings. Here's what to expect [...]

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Herbalife Launched Buyback on January 17th

While investors in Herbalife are calling for an aggressive stock buyback, the company is taking a more measured approach due to a belief that “they are in a long battle with” Pershing Square CEO Bill Ackman, according to a breaking news report from FOX Business Network (FBN) Senior Correspondent [...]

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Kinder Morgan To Acquire Copano Energy For $3.2B In Stock

Kinder Morgan Energy Partners LP (NYSE:KMP) has taken a giant stride towards acquiring Copano Energy, L.L.C. (NASDAQ:CPNO), in a deal worth about $3.2 billion. The completion of the deal will give Kinder Energy access to oil and gas-rich territories in Texas, Wyoming and Oklahoma. The shale gas exploration industry has gained [...]

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