INVESTMENT

Blackstone partners may avoid tax on IPO gain: NYT

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Partners of private equity firm Blackstone Group may have devised a way to avoid paying tax on $3.7 billion raised largely in the firm's initial public offering last month, the New York Times reported on Friday.

United Group buys Unnico for $477 million

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Australian engineering services firm United Group Ltd. said Wednesday it had acquired US-based UNICCO Service Company (UNICCO) for $477 million (US$411 million) in a cash and stock deal.
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China commercial banks aim for combnined $1.5 billion IPOs

Two urban commercial banks in China plan to issue IPO The Bank of Nanjing Co. and Bank of Ningbo Co. plan to raise a combined 11.07 billion Yuan ($1.46 billion) through initial public offerings, the first batch of urban commercial Chinese banks to list in local stock exchanges.
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Futures indicate firm market open

U.S. stock index futures pointed to a higher start on Wall Street on Wednesday, recovering from the previous session's fall, when housing weakness hit shares. U.S. stocks slid on Tuesday as the subprime mortgage crisis escalated, undermining banking shares, while Home Depot and other housing-related companies cut their outlooks.
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Private equity ready to target miners: report

Private equity corporate raiders who have so far sidestepped the mining sector despite widespread consolidation, could soon reset their sights, global accounting and consulting firm Ernst & Young said on Wednesday.
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China shares end higher, led by banks, real estate

China's main stock index ended up 0.33 percent on Wednesday, buoyed by strong real estate and bank stocks, but investors remained worried that imminent initial public offerings may swamp the market with fresh supplies of shares.
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Banks losing up to $52 bln over subprime

Credit Suisse analysts estimated banks could lose up to $52 billion over time due to their exposure to collateralized debt obligations that invested in U.S. subprime mortgages.
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CBOT-CME Merger Approved

Shareholders of Chicago Mercantile Exchange Holdings Inc. and CBOT Holdings Inc. on Monday voted convincingly to merge the two giant futures exchanges under one roof.
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Stocks may rise as earnings season starts

U.S. stocks could rise this week if the first wave of quarterly earnings inject optimism about results for the period and on economic growth that has surprised on the upside.
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Mom and pop to buy more global stocks: study

Rubles, rupees and renminbis will be a much bigger part of mom and pop's portfolio in less than 10 years as consumers become more tolerant of risk-taking and more knowledgeable about global economies, according to a study released on Monday.
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Dow Jones to meet with Ron Burkle: source

Dow Jones & Co., which has been in talks for a takeover by News Corp., will meet with supermarket magnate Ron Burkle as Dow Jones explores its options, a source familiar with the situation said on Sunday.
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ICE seen at risk of overpaying if raises CBOT bid

The IntercontinentalExchange Inc. may still raise its bid for the Chicago Board of Trade, even at the risk of overpaying, after rival suitor Chicago Mercantile Exchange Holdings Inc. sought to deliver a knockout blow.
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VW mulls N. America plant due to dollar weakness

Volkswagen, the world's fourth-largest carmaker, is considering building a new North American factory if the dollar stays weak, Chief Executive Martin Winterkorn said in an interview with German magazine Focus.
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Hilton's Rich Deal

Blackstone's big payout for the hotel chain shows buyout firms are still confident about debt financing for the right properties.
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Fast Retailing going global with Barney's Bid

Fast Retailing's surprise $900 million bid for Jones Apparel Group's Barneys New York underscores the Japanese clothing retailer's dream to become a global player and find growth outside its mature home market.

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