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...position of strength. The fact that it is not asking for money from the government would appear to make that true. In reality, holders of Ford's paper would probably rather bargain with the company now than with the government a year from now when every U.S. auto firm will need money again...
...learned just how xenophobic Washington could be: the deal was called off after strident objections from congressional leaders. Two years later, Beijing's fledgling sovereign wealth fund China Investment Corp. poured $3 billion into Blackstone in return for a 10% stake in the New York City - based private-equity firm, just before the bottom fell out of U.S. debt and equity markets. That deal was followed by a $5 billion purchase of a 9.9% stake in Morgan Stanley, then in the early throes of the credit crisis. Morgan Stanley's share price has since fallen by more than half...
...China (Chinalco), a major holding company focused on resources, has announced plans to invest $19.5 billion in Rio Tinto, one of the world's largest mining companies. If completed the deal would be the biggest foreign purchase any Chinese company has ever made. China Minmetals, another state-owned firm, said it would pay $1.7 billion in cash for Australia-based Oz Minerals, the world's second largest zinc miner. On Feb. 23, Hunan Valin Iron & Steel Group of China purchased a $771 million stake in Australian iron-ore exporter Fortescue Metals Group...
...second and final term, Lula has an 80% approval rating. This suggests that despite the recession, most Brazilians still feel they're winning. "It was very difficult to change social class in Brazil 10 years ago, or even four years ago," says Luis Minori of the market-research firm Ipsos. "Now people have access to microcredit and computers and other means of social mobility." In that sense Brazil has outperformed even China and India, Neri claims, because "poverty is falling [in those places] but inequality...
...Sunstein, the new head of the Office of Information and Regulatory Affairs, for instance, spent 90 percent of his professional career at the University of Chicago and Harvard Law Schools. The new associate attorney general, law school grad Thomas J. Perelli, started out in top D.C. law firm Jenner & Block...