Wall Street Rumors - March 31, 2008
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Australian Stock Exchange Regulates Short Selling Procedures
The Australian Stock Exchange Friday proposed short-term measures to regulate covered short selling ahead of a government move to remove legal ambiguity around the practice.
Lehman Brothers Sues Japan Firm
Lehman Brothers Holdings Inc. (NYSE:LEH) has gone to court in Tokyo in an effort to recover $350 million it says it was bilked out of through an elaborate scheme in which employees of a big Japanese trading company allegedly used forged documents and an imposter to raise cash.
CitiGroup Splits Up Banking and Credit Card Units
Citigroup (NYSE:C) on Monday announced it was splitting its consumer banking and credit card divisions into two separate units, part of an organizational reshuffling undertaken by recently installed CEO Vikram Pandit.
Europe Inflation Soars
Inflation in the euro zone rose sharply, pushing back expectations of a European Central Bank interest-rate cut even as economic sentiment softened and the ECB pumped more funds into strained money markets.
Ansys Buys Ansoft
Ansys Inc. (NASDAQ:ANSS) said it agreed to acquire Ansoft Corporation (NASDAQ:ANST) in an $832 million cash-and-stock deal that will combine the two Pennsylvania-based simulation-software companies and marks Ansys’s entry into the electronic-design automation segment for which Ansoft is known.
Use Emerging Market ETFs to Diversify
The attributes of the underlying countries get blended away, which reduces a meaningful portion of the benefit of foreign investing.
For people inclined to use ETFs for their foreign allocation, I think single-country or regional funds are a much better way to go.
InterContinental Hotels Opens 14 Holiday Inns in India
InterContinental Hotels Group PLC (NYSE:IHG) said it plans to open 14 Holiday Inn hotels across India.
Inflation Woes in India
Investors in interest rate-sensitive sectors such as automobile, financial services and real-estate firms are unlikely to breathe easy this week as India’s inflation threatens to run out of control, dashing earlier hopes that the monetary policy could be eased some time this year to lift slowing economic growth.
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