July 21, 2013 |
Sinking money into real estate investment trusts is considered to be one of Wall Street's most complex investments. Owning shares of REITs gives investors an opportunity to get investment exposure to real estate, including apartments, shopping centers and office buildings. But they've gained a reputation of being risky and confusing - especially after the industry was pummeled during the last real estate crash. Even Lloyd McAdams, chief executive of Anworth Mortgage Asset Corp., makes no bones about saying his Santa Monica REIT does carry some risk.
July 15, 2013 |
The nation's largest public pension fund, the California Public Employees' Retirement System, posted a 12.5% return on its investment portfolio in the fiscal year that ended June 30. The fund's assets stand at nearly $258 billion, according to Chief Investment Officer Joseph Dear, who reviewed the figures Monday at a meeting of the system's governing board. The gains were led by strong returns in the global public equity and real estate investments, officials announced Monday.
July 13, 2013 |
The Hulu divorce has been called off. After months of fielding offers from would-be buyers for the popular online video site, owners 21st Century Fox Inc., Walt Disney Co. and NBCUniversal decided Friday to cancel the sale. Instead, they said, they will invest $750 million in Hulu so it can better compete against Netflix Inc., Amazon.com Inc. and other Internet streaming services. This is the second time in less than two years that Hulu's owners put it on the block only to take it off again.
July 12, 2013 |
WASHINGTON - Sen. Elizabeth Warren has launched a campaign to make banks boring again as she pushes legislation to enact stricter regulations forcing deposit-taking financial institutions out of the investment business. The Massachusetts Democrat wants to reinstate the Depression-era Glass-Steagall law, which separated what she called boring checking and savings accounts that are backed by the Federal Deposit Insurance Corp. from risky investment banking. And after joining three other senators Thursday in introducing a bipartisan bill to do that, Warren went to Twitter to rally support.
July 11, 2013 |
WASHINGTON -- The U.S. and China will begin substantive talks on a comprehensive bilateral investment treaty, a development that American officials described as a major shift by the Chinese that could give U.S. firms greater market access to many more products and services. U.S. and other foreign businesses in China have long complained about restrictions in investment and trade. Chinese rules prevent foreign companies from taking majority ownership in dozens of manufacturing and farm goods and services, including cars, oil seed processing, insurance and banking.
July 11, 2013 |
WASHINGTON - The U.S. reached agreement with China to cooperate on improving investments and climate change, among other areas, but officials could cite little concrete progress on a White House priority: getting the Chinese to stop cyber-theft of American technologies and trade secrets. As China and the U.S. concluded their fifth annual Strategic and Economic Dialogue on Thursday, officials on both sides described the overall tenor of the two-day discussions as candid and constructive.
July 11, 2013 |
Hidden behind thickets of acronyms and gorse bushes of detail, a new great game is underway around the globe. Some call it geoeconomics, but it's geopolitics too. The current power play involves an extraordinary range of countries simultaneously sitting down to negotiate free trade and investment agreements. Think of it as EBC: Everyone but China. The biggest of these negotiations got underway this week as a European Commission delegation sat down with its U.S. counterparts in Washington.
July 8, 2013 |
Shazam, the mobile app that instantly recognizes songs and TV commercials, has announced a $40-million round of funding led by Mexican billionaire Carlos Slim. The app, which users turn on when they hear a song that they want to identify, said the funding is being headed up by Slim's company, America Movil, one of the world's largest wireless communication firms. Shazam Chief Executive Rich Riley called the investment a milestone. “It's a great continuation of the incredible momentum that we have,” he said.
July 5, 2013 |
The gig: Dominic Ng, 54, is chairman and chief executive of Pasadena's East West Bank, formerly a savings and loan association based in L.A.'s Chinatown that he built into the nation's largest Chinese American bank, with $23 billion in assets. The bank operates in California, New York, Boston, Seattle, Houston and Atlanta, with full-service branches in Hong Kong, Shanghai and Shantou, China. A specialty is helping Americans navigate a maze of regulations to invest in China - and increasingly vice versa, as Chinese investors buy U.S. businesses and homes.
July 1, 2013 |
DAR ES SALAAM, Tanzania - Flying over East Africa on Monday, a White House official was in the midst of a briefing on a new initiative to combat rhinoceros poaching and big game trafficking when a reporter got stuck on a detail. "Ten billion or 10 million?" the reporter asked. "Ten million, yes, with an M," said Grant Harris, the National Security Council's senior director for African affairs, to surprised faces. "Yes, million - $10 million. " It's not every day this White House, which proposed more than $3.7 trillion in spending in its 2014 budget, highlights a new program that costs less than the government spends in two minutes.