NEW YORK (AP) — An ex-director at Tyco International Ltd. testified that the company’s board never approved loan forgiveness and some special cash bonuses to its former top two executives. William Peter Slusser, a Tyco director from 1997 until last […]

Jan. 11–Normally, investment managers like to “talk their book.” They’re great at touting the investments they already own. But the cheerleading among managers of small-cap equity funds is remarkably restrained, considering the banner year the sector enjoyed in 2003. Investors, […]

THE row between the International Monetary Fund (IMF), jilted private bondholders and the Argentine government over the country’s $88bn (Pounds 48bn, E69bn) debt restructuring is escalating. America’s assistant secretary of state, Roger Noriega, warned the Argentine government: “It is important […]

WEST PALM BEACH, Florida (HEDGECO.NET) – The President and CEO of Nikko Cordial Corp, Junichi Arimora and Takeshi Niinami, president and CEO of Lawson Inc. have agreed to explore the possibility offorming a comprehensive business alliance including a joint brokerage […]

$1.6 billion more pulled from Strong Total since Spitzer’s accusations: $4.5 billion By THOMAS CONTENT [email protected], Journal Sentinel Saturday, January 10, 2004 Mutual fund shareholders pulled $1.6 billion from Strong Capital Management Inc.’s funds in December, bringing to $4.5 billion […]

Strong buyer will have eye on fee income Assets, not employees, called key lure By AVRUM D. LANK and PAUL GORES [email protected], Journal Sentinel Saturday, January 10, 2004 Suitors for Strong Financial Corp.’s mutual fund business are more interested in […]

For all its electoral triumphs, the Democrat presidency of Bill Clinton has remarkably little that it can claim as tangible successes. Clinton’s term began with a worthy but energy-sapping attempt toallow homosexuals into the armed forces, and then ran into […]

Jan. 10–The Pennsylvania State Employees’ Retirement System said yesterday it earned $5 billion from its investments last year, nearly triple its target. After paying 91,000 retired state workers and government officials $1.6 billion in pensions, the fund’s assets rose to […]

Tokyo, Jan. 9 (Jiji Press)–The dollar is expected to remain under downward pressure next week, with players keeping a lookout for market interventions by Japan to arrest the yen’s advance. Japanese monetary authorities are widely expected to continue stepping into […]

Probe targets banks’ financing of fund trades From Associated Press, Bloomberg News, Los Angeles Times and New York Times reports Friday, January 9, 2004 The New York State attorney general and the Securities and Exchange Commission are investigating whether some […]

Nikko Asset Management Company has joined hands with Tremont Capital to offer new hedge fund products to investors. The new products are aimed at Japanese investors particularly the JapaneseInstitutional investors. Since last month�s announcement of the interest of the Japanese […]

GLOBAL stock markets may be rising but some traders are still finding the going tough. Overnight in the US, Instinet, the separately-quoted electronic trading arm of Reuters, said it would shed a further 185 jobs, or 15% of its workforce, […]