Robert Morse News
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Dexia SA, the lender being broken up after a Franco-Belgian bailout, is close to selecting a final bidder for its asset management unit as New York Life Insurance Co. and Macquarie Group Ltd. vie for the business, people with knowledge of the matter said.
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Harvard University took sole possession of first place in U.S. News & World Report’s 2011 rankings of top U.S. academic research institutions. Princeton University, which tied with Harvard for the lead last year, fell to second place.
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Profits at insurers will increase as interest rates rise, according to Robert Morse, founder of Primus Financial Holdings Ltd., which is bidding for American International Group Inc.’s Taiwanese unit.
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The news that Claremont McKenna College submitted false SAT scores for incoming freshmen to U.S. News & World Report (and other outlets, including the Department of Education) is causing a ripple of shock throughout higher education.
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American International Group Inc. ’s planned $2.15 billion sale of its Taiwan life insurance unit was blocked by local regulators, setting back the U.S. insurer’s effort to repay its $182.3 billion government bailout.
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Bond-trading boutiques are being squeezed out of the market as Wall Street’s biggest banks recover from the financial crisis that caused almost $2 trillion in losses worldwide.
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Bond broker Chapdelaine & Co. is seeking buyers as an April agreement to sell itself to Hong Kong-based Primus Financial Holdings Ltd. has yet to close, according to three people with direct knowledge of the matter.
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AIA Group Ltd. rallied 17 percent on its first day of trading in Hong Kong following the biggest initial public offering in the city’s history.
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The Singapore unit of Primus Pacific Partners Ltd. and Lee Theng Kiat, president of Temasek Holdings Pte, agreed to settle a lawsuit over a rental dispute, according to three people familiar with the case.
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Lee Theng Kiat, president of Temasek Holdings Pte, sued the Singapore unit of Primus Pacific Partners Ltd., a Hong Kong-based private-equity firm, seeking to shutter the unit for failing to pay rent on a bungalow.
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