DISCOUNT clothing chain Ethel Austin is considering a 150 million float after more than doubling profits in the past year. Venture capital backer Lloyds TSB Development Capital (LDC) is also in talks with a potential buyer only 17 months after […]

Armor Group, the biggest private security firm operating in Iraq, was yesterday bought out from its US parent by its London-based management in a pounds 20m deal backed by venture capitalistGranville Baird, which is investing pounds 9m.

Stockbyte, the Kerry-based stock photography company, has bought the 30 per cent stake held by venture capital partner ACT Venture Capital for an undisclosed sum. ACT paid $1 million for a 25 per cent stake in Stockbyte in 1997 and […]

THE BATTLE for control of Manchester United looks set to go to a shootout as US billionaire Malcolm Glazer issued a direct challenge to the club’s biggest shareholders, horseracing tycoons JohnMagnier and JP McManus. The market in United shares was […]

Nov. 27–Michael Campbell, the executive who last year took over struggling Downtown technology firm PanGo Networks, may move to Boston if he can close on a $4.3 million venture capital deal thatincludes $2 million from Boston-based IDG Ventures and $350,000 […]

UBS, EUROPE’S largest investment bank, has sacked two financial advisers and disciplined nine others after an internal investigation found the bank had traded in shares against the interests of itsclients. The Swiss giant is the most high-profile financial institution on […]

TWO FORMER JP Morgan traders who set up their own hedge fund in 2000 each pocketed pounds 25m yesterday when they sold a stake in their asset management business to Man Group, the FTSE 100 hedge fundmanager. Man is paying […]

Security Trust Co. will shut down — making it the first corporate casualty in the mutual fund trading scandal, a federal banking agency said Tuesday. The Office of the Comptroller of the Currency (OCC), which oversees national banks, said that […]

Nov. 26–Federal regulators yesterday carried out their first act of capital punishment as part of the widening mutual fund investigation, ordering the Security Trust Co. out of business. The tough action came as New York Attorney General Eliot Spitzer filed […]

Nov. 26–A Mahwah-based executive who boasted of business ties to a porn star surrendered Tuesday to FBI agents after being charged in a wide-ranging fraud investigation. Millennium Direct Inc.’s chief executive, George Balis, 56, was arraigned Tuesday in U.S. District […]

Nov. 26–Boston-based MFS Investment Management’s Emerging Growth fund was one of six mutual funds each taken for more than $1 million in an illegal late-trading scheme involving former topexecutives of Security Trust Co. and a New Jersey hedge fund, government […]

<body.content> <block> <p>PITTSBURGH, Nov. 25 /PRNewswire-FirstCall/ — Today Federated Investors released the following letter from President and CEO J. ChristopherDonahue:</p> <p>On October 22, Federated Investors, Inc. <org idsrc=”dummy” value=”dummy”><alt-code idsrc=”NYSE” value=”FII”/></org> announced initial details regardingour internal review into mutual fund […]