Latest International Business News
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db x-trackers achieves massive global growth
The year 2008 represented a record growth in assets under management (AUM) for db x-trackers, Deutsche Bank’s exchange traded fund (ETF) platform, amongst all ETF providers globally. The past 21 months have brought db x-trackers up to the third largest ETF provider in Europe, and the sixth largest globally. Between the beginning of 2008 and 30 September 2008, db x-trackers’ ...
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Lowest asset growth among world top managers
The total assets under management among the world’s 500 largest fund managers grew by around nine per cent in 2007 to US$69.4trn, according to ...
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Launch of world’s fifth largest insurance company
Aviva Investors has officially launched, marking the creation of the world’s fifth largest insurance company. The company is investing to transform its asset management business over the coming years, which will significantly increase its contribution to the Aviva Group’s profit, and will become an ';investment powerhouse on a global scale';. The single business ...
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Sarkozy accusation leads to industry call for clarification
French President Nicolas Sarkozy has blamed the current financial turmoil on hedge funds. At the United Nations General Assembly on Tuesday 23 September 2008, Sarkozy stated that an overhaul and more regulation are necessary for the global financial system. He also said it should become less opaque. Sarkozy called for a punishment to those responsible for the current crisis and alleged ...
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Swiss economy will neither boom nor bust
The Swiss economy is expected to neither boom nor go bust in 2009, according to economists at Credit Suisse. Thus far, the Swiss economy has proven to be robust, and although the current economic climate has had a negative impact on perception, it has had little reflection in the economic data. Economists say that the Swiss economy, despite seeing economic growth below its potential, will ...
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World pension assets grow to US$12 trn
, also showed that most major countries recorded increases in assets, and that the size of these assets has more than doubled over five years. ';The world’s largest pension funds continue to benefit from a high profile as global demographic challenges remain front of mind,'; commented Carl Hess, global head of investment consulting at Watson Wyatt. ';As a result ...
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Zurich Ireland outperforms market despite slump in new Life Insurance business
The Irish branch of Zurich (Eagle Star Life) has revealed that for the six months ending June 2008 it has outperformed the market, with Pensions Annual Premium new business of €47.4 million. The same period in 2007 saw figures of €42.8 million, 11 per cent less than the current situation. This outperformed the market average of zero per cent for regular premium business. ...
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First global sound practices guide for FOHFs
The world’s first global guide to sound practices for fund of hedge funds (FOHFs) managers is to be published by the Alternative Investment Management Association (AIMA) in early 2009. The guide is being developed by fund of funds practitioners, and will focus on areas including risk management, disclosure to investors, valuation, management of conflicts of interest and other ...
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SEI wins first industry-wide mandate
SEI has been selected as Fiduciary Manager by Dutch furniture industry pension fund Bpf Meubel in the company’s first industry-wide scheme appointment. The mandate win will see SEI managing €1.3bn of the total pension fund – which stands at €1.5bn – across a range of asset classes. SEI will manage the entire equity portfolio, the fixed income portfolio ...
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FI says pensions companies have a buffer for further turbulence
Pension and non-life insurance companies can withstand further fluctuations on the financial market, and thereby have a good capacity to fulfil their commitments to customers, according to Swedish Financial Supervisory Authority, Finansinspektionen (FI). Their traffic-light model for Q1 2008 shows that no company has received a red light, with the exception of the pension fund Prometheus. ...
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Fidelity International Real Estate Business expands into Germany
Fidelity International’s Real Estate Business is planning to expand into the Continental European market with the opening of a dedicated Fidelity Real Estate Business office in Munich. The new office, which is currently going through its regulatory notifications, will provide a strategic base for Fidelity’s director of European Real Estate, Keith Sutton. From here he will ...
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Swedish companies avoid the red
Swedish pension companies were given favourable evaluations by The Swedish Financial Supervisory Authority, Finansinspektionen (FI), in the Q2 2007 traffic light report. No insurance companies received a red light during that period, while pension companies as a whole – including life insurance companies and occupational pension funds – showed a larger margin to the red light ...
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Investment Trust Companies set for VAT windfall
The European Court of Justice (ECJ) has ruled in favour of the Association of Investment Companies (AIC) and JP Morgan Claverhouse Investment Trust in a decision which could lead to huge VAT rebates for Investment Trust Companies (ITCs) across the UK and could also have implications for pension funds. The AIC and JP Morgan Claverhouse brought the case to court based on the argument that ...
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Conservation Groups Alpine Boulder Bunny Imperiled by Global Warming
Center for Biological Diversity , (415) 632-5301, cell (415) 385-5746 Stuart Pimm, Professor of Conservation Biology, Duke University, (919) 613-8141, cell (646) ...
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American Rights At Work Formal Complaint for FEC Investigation of Wal-Marts Unlawful Federal Election Activity
Formal Complaint for FEC Investigation of Wal-Mart's Unlawful Federal Election Activity WASHINGTON - August 14 - Today American Rights at Work, the AFL-CIO, Change to Win, and WakeUpWalmart.com will hand ...
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India Resource Center Coca-Cola Plant Shut Down in India
Chinta Dewi, Coca-Cola Bhagao, Krishi Bachao Sangharsh Samiti +91 94507 79325 (Hindi) Nandlal Master, Lok Samiti +91 94153 00520 (Hindi) Amit Srivastava, India Resource Center +91 98103 46161 (India) +1 415 336 7584 ...
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WakeUpWalmart.com Files Official Complaint Against Wal-Mart With The FEC and Calls For An Investigation
WakeUpWalmart.com Files Official Complaint Against Wal-Mart With The FEC and Calls For An Investigation WASHINGTON - August 14 - WakeUpWalMart.com today, along with American Rights at Work, Change to Win, and the American Federation of Labor and Congress of Industrial Organizations, jointly filed an official complaint with the Federal Election Commission. The groups filed the complaint of ...
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Kids Count report Americas children are advancing despite the economy
The widely-watched Kids Count annual survey on the state of America's children shows gains in health and education despite the poor economy. But advocates say raised poverty rates merit more attention from ...
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Rainforest Action Network Missive Urges Hundreds of Companies to Stop Using Palm Oil
Meanwhile, nationwide day of action declared a success as thousands descend on supermarkets to label products containing palm oil as rainforest destroyers SAN FRANCISCO - August 13 - More than 2,000 concerned citizens across the country went to supermarkets in San Francisco, Minneapolis, New York and dozens of other cities today to apply stickers ...
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Center for Biological Diversity California Court Rules Land-use Decisions Must Address Global Warming Plans for Palmwood Mega-Resort Thrown Out
California Court Rules Land-use Decisions Must Address Global Warming: Plans for Palmwood Mega-Resort Thrown Out INDIO, California - August 8 - In response to a lawsuit from the Center for Biological Diversity and the Sierra Club, a California court has rejected a proposal to build a controversial luxury resort and golf course because the ...
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Environmental Defense Fund Co-sponsor of Global Warming Solutions Act to Provide Testimony at San Jose Public Workshop on Draft Scoping Plan to Implement Law
Media Advisory for Friday, August 8, 9:30am-4pm WASHINGTON - August 7 - WHAT: A co-sponsor of ...
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Institute for Agriculture and Trade Policy New Global Contract Needed to Re-Assert Basic Rights Protect Environment
WTO Doha Collapse Requires a New Direction in Multilateralism MINNEAPOLIS - August 6 - Global institutions enforcing trade and finance rules have overridden fundamental human rights, stalled international development and harmed the environment, finds three new papers released today by the Institute for Agriculture and Trade Policy. A new system is badly ...
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Bread for the World Calls for Second Stimulus Package
Bread for the World Calls for Second Stimulus Package WASHINGTON - August 5 - Bread for the World president David Beckmann urged Congress to enact a second economic stimulus package in view of recently released data indicating continued job declines in the last seven months and a 5.7 percent unemployment rate in July. He said that data released by the government last week suggests that ...
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SEIU Launches Nationwide Actions To Question Health Insurance Industry Tactics
With a series of events in states across the country, SEIU will call attention to health care insurance industry tactics that do more to ensure profits than insure ...
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Bread for The World Hungry and Poor People Hit Hard By Collapse of Global Trade Negotiations
Hungry and Poor People Hit Hard By Collapse of Global Trade Negotiations WASHINGTON - August 4 - Bread for the World president David Beckmann today warned that the recent collapse of global trade negotiations, called the Doha Round, will adversely affect the world's hungry and poor people in more ways than the negotiators realize. Even before the current hunger crisis, the U.N. Food and ...
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