INVESTMENT

Veteran investor Martin Whitman will relinquish his role as Third Avenue Management LLC's co-chief investment officer, the Wall Street Journal reported on Monday.

The Tokyo Stock Exchange launched an accelerated trading system on Monday to better compete with major global rivals in the growing field of high-speed trading.

Former Citigroup Chief Executive Sanford Weill blamed the bank's problems on personnel decisions and faulted his successor, Chuck Prince, for letting its balance sheet balloon and taking on large risks, according to the New York Times, citing a series of recent interviews.

Shinsei Bank and Aozora Bank may have their planned merger delayed, due to difficulty integrating systems and depending on the outcome of an inspection by Japan's financial regulator, the Nikkei newspaper said.

The Tokyo Stock Exchange, Asia's largest equities bourse, said it would go ahead with the launch of its new trading system as planned on Monday after running final checks.

Italian confectioner Ferrero has met with private equity firms as well as Hershey Co to discuss a possible bid for Britain's Cadbury Plc , Il Sole 24 Ore daily reported on Saturday.

Hedge funds making big bets on currencies, commodities and equities are favoured by fund selectors in what is likely to be a more testing 2010 after a bumper year for hedge fund returns.

Kohlberg Capital Corp has been sued by a Michigan investor who said the investment company taken public in 2006 by a firm affiliated with buyout specialist Jerome Kohlberg fraudulently misstated the value of its portfolio.

U.S. stocks ended 2009 on Thursday with their best gains since 2003, driven by optimism about the economy's recovery and a brighter outlook for profits.

For hedge funds, 2009 will be remembered as one of the industry's best ever -- a year when managers delivered strong gains after 2008's drubbing and investors returned to the fray with new money.

For hedge funds, 2009 will be remembered as one of the industry's best ever -- a year when managers delivered strong gains after 2008's drubbing and investors returned to the fray with new money.

Washington Mutual Inc said it could receive an additional $2.6 billion in tax refunds due to a recently enacted law, sending shares of the bankrupt bank holding company soaring on Thursday.

Wells Fargo & Co said on Thursday it gave Chief Executive John Stumpf and three other top executives stock payouts worth a total of about $25 million, but it said none of these executives will receive a cash bonus for 2009.

Digital Realty Trust Inc (DLR.N) said it, along with its operating partnership Digital Realty Trust L.P., plans to raise up to $400 million through sale of its common shares.

Prudential Financial Inc said on Thursday it completed the planned sale of its minority stake in a retail brokerage to Wells Fargo & Co for $4.5 billion in cash.

Prudential Financial Inc(PRU.N) said on Thursday it completed the planned sale of itsminority stake in a retail brokerage to Wells Fargo & Co(WFC.N) for $4.5 billion in cash.

Stock index futures edged higher on Thursday as investors awaited data on the health of the hobbled labor market, which poses a potential hurdle for the nascent economic recovery.

World stocks headed toward their best annual performance on record on Thursday, albeit a year after suffering their worst.

S&P 500 index futures edged higher on Thursday as investors awaited data on the health of the hobbled labor market, which poses a potential hurdle for the nascent economic recovery.

U.S. stock index futures pointed to a higher open on Wall Street on Thursday for the last trading session of the year, with futures for the S&P 500 up 0.2 percent, Dow Jones futures up 0.2 percent and Nasdaq 100 futures up 0.1 percent at 3.48 a.m. ET.

The U.S. is injecting another $3.8 billion into GMAC Financial Services to help cover mortgage losses, in a bailout that makes the government the majority owner of the auto and home finance company.