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...Cashed up thanks to rising profits at home, Indian firms are on a shopping spree?and increasingly looking abroad. In the past year, the Tata Group has snapped up everything from American telecom firm Tyco Global to venerable British teamaker Tetley. Other Indian companies have bought foreign pharmaceutical firms, auto-parts makers and aluminum suppliers. Last week a consortium led by India's Videocon Industries agreed to buy South Korean appliance maker Daewoo Electronics for $700 million. "Indian companies have become competitive, and they realize that," says Gurcharan Das, former CEO of Procter & Gamble India and author of the best...
Vinod Khosla knows how to balance risk and reward. The billionaire venture capitalist built his career making improbable technology bets - and more often than not getting it right. As a founder of Sun Microsystems and partner at Silicon Valley's storied venture capital firm Kleiner Perkins Caufield & Byers, Khosla and his colleagues backed some of the Internet's biggest sensations, like Google, Amazon, Excite and Netscape. Today, his deals assume a completely different type of risk: kicking America's dirty oil habit...
...address a different market. Pare your margins. Create new markets." The Tata group's global clout means its chairman's thoughts on the world economy are worth listening to. The group comprises 96 companies, including the world's second largest tea business (Tata Tea); Asia's largest software firm (Tata Consultancy Services); a steel giant (Tata Steel); a worldwide hotel chain (Indian Hotels); and a sprawling vehicle-manufacturing arm (Tata Motors) that includes a bicycle factory in Zambia and a project to make a car selling for $2,200. Since Ratan Tata became chairman in 1991, he has multiplied Tata...
...market for reselling life insurance in this way--known as a life settlement--has grown from nothing a decade ago to $13 billion, and will hit $160 billion over the next few years, according to estimates from the investment firm Bernstein Research. There are about 50 life-settlement firms, which either hold onto the policies for their portfolio or package them for resale to Wall Street. Pension and hedge-fund managers are snapping up these investments, eager to lock up returns that are not correlated to the stock market...
...case of a lapsed policy, the death benefit is often greater than the sum of premiums remaining to be paid. And 1 in 5 policyholders over 65 is in line for a life settlement greater than the surrender value of the policy, according to Conning & Co., an insurance-research firm...