Shareholders' Equity News
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Grupo BTG Pactual SA, Brazil’s second- biggest equity underwriter, fell as much as 3.3 percent in Sao Paulo after the bank reported a bigger profit decline than analysts estimated.
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Jason Donville, whose fund has outperformed Canadian stocks for five years using Warren Buffett’s value investing strategy, is eyeing Pulse Seismic Inc., Total Energy Services Inc. and other energy stocks after the recent resources rout.
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Billionaire John Paulson’s Bermuda venture, which positions its owners to avoid taxes on hedge fund earnings by routing money through a reinsurer, sold about 3 percent as much coverage as competitors in its first year.
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ING U.S. Inc., the American insurance unit of ING Groep NV, plans to raise as much as $1.54 billion in an initial public offering as its Dutch parent focuses on operations at home.
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Luxembourg plans to sell its minority stake in BGL BNP Paribas SA, the country’s second- largest retail bank, to reduce debt before a $2.6 billion bond matures in December.
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The Netherlands pledged to seek European Union approval before setting up a separate bank for unwinding SNS Reaal NV’s property assets, regulators said in a letter.
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Last year, about $450 million belonging to top executives at billionaire hedge fund manager John Paulson’s New York firm took a quick round trip to Bermuda.
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Three senior noteholders of K-V Pharmaceutical Co. have the power to control the direction of the Chapter 11 reorganization that began on Aug. 4 in New York.
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Zurich Financial Services AG , Switzerland’s biggest insurer, said fourth-quarter profit was little changed after general insurance margins were squeezed by claims from flooding in Australia.
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Hartford Financial Services Group Inc., the insurer selling life units to focus on property- casualty coverage, said a third-quarter restatement resulted in a $38 million net loss for 2012 instead of previously reported 2012 net income of $350 million.
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