Financial Services

Hutchison Harbour Ring sees $269 mln gain in deal 7:59am IST

HONG KONG, May 17 (Reuters) - Hutchison Harbour Ring Ltd said it expected to realise HK$2.1 billion ($269 million) gain from the sale of an office tower in Shanghai to an affiliate of Asia Pacific Land Ltd . Full Article

UPDATE 1-Lazard issues 14.6 mln shrs, trims debt 5:12am IST

NEW YORK, May 16 (Reuters) - Investment bank Lazard Ltd on Friday said it issued 14.6 million common shares worth about $150 million to buy back convertible debt sold during its 2005 initial public offering, a transaction boosting its book value and trimming debt levels. Full Article

UPDATE 1-AIG says completed stock, unit sales 4:18am IST

NEW YORK, May 16 (Reuters) - American International Group Inc , the global insurance giant, said on Friday it completed the sale this week of 196.7 million common shares at $38 a share and sold 78.4 million equity units at $75 a unit, raising more than it originally planned. Full Article

More Financial Services News

Argentine stocks rise on oil prices; peso firms 3:22am IST

BUENOS AIRES, May 16 (Reuters) - Argentine stocks rose on Friday as rising global crude oil prices lifted energy-related shares, while bonds and the peso rose. Full Article

Robert Maguire ends bid for company he founded: report 2:48am IST

NEW YORK (Reuters) - Robert Maguire III, the head of Maguire Properties Inc , one of the biggest owners of Los Angeles office buildings, has abandoned his quest to buy the company he founded and is on the verge of being forced out as chief executive and chairman, the Wall Street Journal reported on Friday. Full Article

UPDATE 4-Fannie Mae relaxes loan down-payment requirements 2:35am IST

NEW YORK, May 16 (Reuters) - Fannie Mae, the largest U.S. home funding source, is setting a single national standard for down payments on mortgages it buys, including areas where home prices are falling, in an effort to stimulate the housing market. Full Article

UPDATE 3-Carlyle buying Booz Allen unit stake for $2.54 bln 2:20am IST

NEW YORK, May 16 (Reuters) - Washington-based private equity firm Carlyle Group [CYL.UL] is buying a majority stake in the U.S. government business of management consulting technology firm Booz Allen Hamilton Inc for $2.54 billion, the companies said on Friday. Full Article

Vanguard adds Scottish firm to stock fund team 2:12am IST

BOSTON, May 16 (Reuters) - Vanguard Group said on Friday it has added a fourth firm to a three-member team managing a large foreign stock fund, a move that was criticized by an analyst. Full Article

BGI's fixed income ETFs see strong growth 2:07am IST

NEW YORK, May 16 (Reuters) - Data from Barclays Global Investors indicates some investors are using fixed income exchange-traded funds for safety amid volatile markets and fallout from the subprime crisis. Full Article