Funds
Emerging-Market Equity Funds Lose Record $48.3 Billion in 2008, EPFR Says Emerging-market equity investors
withdrew a record $48.3 billion from their funds in 2008 as the
global financial crisis and economic recession hurt demand for
riskier assets, according to data from EPFR Global.
Black's Apollo Said to Be Among Largest Creditors in Lyondell Bankruptcy Apollo Management LP, the private-
equity firm led by Leon Black, is among the largest creditors of
Lyondell Chemical Co., which filed for bankruptcy protection in
New York today, according to a person with direct knowledge of
the matter.
Bernard Madoff's Sons Told Prosecutors of Jewelry Transfer, Lawyer Says The sons of Bernard Madoff, who is
accused of running a $50 billion Ponzi scheme, told prosecutors
last week their father violated a court-ordered asset freeze by
mailing them jewelry, watches and other items, his lawyer said.
Chrysler Has No Plans to Report Results After $4 Billion Taxpayer Rescue Chrysler LLC, operating with a
$4 billion taxpayer-funded bailout from the U.S. government,
isn’t required to report financial information to the public and
has no plan to do so.
Agency Bills Gain as `Next Least Risky' Debt, Federated's Cunningham Says Yields on short-term Fannie Mae,
Freddie Mac and Federal Home Loan Bank debt have tumbled relative
to U.S. Treasuries because investors are flocking to funds with
safe returns that exceed record-low government rates, Federated
Investors Inc.’s Debbie Cunningham said.
Madoff Investor Suing Over $10 Million 11th-Hour Transfer May Wait Months The family that gave Bernard Madoff
$10 million six days before he was charged with running a
$50 billion Ponzi scheme may have to wait months before a judge
considers its lawsuit to recover the money.
Indonesia Central Bank May Cut Key Interest Rate for Second Month Running Indonesia’s central bank will
probably cut its benchmark interest rate for a second straight
meeting after inflation cooled to a six-month low.
Europe Rally May Fizzle as Stocks Succumb to Profit Drop, Strategists Say The best start for European stocks in
at least 13 years will give way to losses as slumping corporate
profits send equities to new lows, the biggest securities firms
say.