From Bloomberg | Indianapolis-based Simon Property Group Inc., the U.S. shopping-mall owner that paid $2.3 billion this year for an outlet-center business, has plenty of capital for more purchases, CEO David Simon said.
Filed under: Investing
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Buffett sells Carmax, Home Depot stakes
Warren Buffett’s Berkshire Hathaway no longer held stakes in used car retailer Carmax, home improvement retailer Home Depot or waste manager Republic Services as of September 30, according to a filing with securities regulators on Monday. Get the full story »
Boeing downgraded on continued 787 woes
Shares of Boeing Co. fell more than 2 percent in early trade Friday after Sanford C. Bernstein downgraded the stock on concerns about more potential delays for the high-profile 787 Dreamliner.
The program, already nearly three years behind schedule, could face more delays as the company probes the cause of an electrical fire that forced an emergency landing of a 787 test flight this week. Get the full story »
Report: Wall Street firms find Volcker loophole
U.S. banks have found a way to continue betting their own money on some investments, despite a new law’s restrictions on proprietary trading, the Financial Times reported on Thursday, citing Wall Street executives. Get the full story »
Nov. 10, 2010 at 5:13 p.m.
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Filed under: Autos, China, IPOs, International, Investing, Manufacturing Report: GM in talks to sell stake to China’s SAIC
General Motors Co. is in the final stage of talks to sell equity to long-time Chinese partner SAIC Motor Corp. in conjunction with its landmark initial public offering, two people familiar with the matter said.
The two government-funded automakers are determining how much of a stake SAIC would buy in the top U.S. automaker after discussions involving technology sharing and SAIC’s ambitions to move beyond China, the sources said. Get the full story »
Fund investors still taking bonds over stocks
Mutual fund investors continued to put their money into bond investments rather than U.S. stocks last month, despite the market’s recent gains.
Precious metals steady; CME raises trading costs
(Reuters/Shannon Stapleton)
Precious metals steadied on Wednesday after futures of gold, and particularly silver, plunged in the previous session’s after-hours trade, although the dollar’s strength limited any immediate recovery.
The price of spot gold, which tracks trades in bullion, was up about half percent. Futures of the precious metal in New York showed a loss of up to 1.4 percent during the session, adjusting to Tuesday’s post-settlement trade. Get the full story »
Yahoo rumored to be circling Groupon
From Business Insider | A source “close to Groupon investors” says that Yahoo is reportedly in sales talks with online daily deals site Groupon.
General Growth eyes dividend; Hughes trades
General Growth Properties plans to resume paying dividends early next year, after the second-largest U.S. mall operator emerged from bankruptcy and spun off a new company, Howard Hughes Corp.
Citing a higher-than-expected cash stake, General Growth also said it expects to retire $570 million of obligations by paying cash, avoiding the potential issuance of more than 50 million common shares. Get the full story »
Allstate, Prudential return cash to investors
Insurers Allstate Corp. and Prudential Financial announced plans to return cash to shareholders Tuesday with a stock buyback plan and dividend increase, respectively. Get the full story »
Goldman Sachs stops foreclosures in some states
Goldman Sachs Group Inc.’s mortgage servicing unit has suspended evictions and foreclosures in some states, according to a regulatory filing on Tuesday. Get the full story »
Nov. 9, 2010 at 10:25 a.m.
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Filed under: Advertising/Marketing, Food, Investing, Restaurants, Technology, Venture capital VC firm delivers $11 million to GrubHub
A meal from Reza's Restaurant delivered to Tribune food critic Phil Vettel through GrubHub, Jan. 24, 2008. (Abel Uribe/Tribune)
GrubHub, the Chicago-based technology start-up that connects consumers with restaurants that deliver to their neighborhood, has raised $11 million in its third and largest round of venture-capital funding.
The company received the funding from Benchmark Capital, a Menlo Park, Calif.-based firm that has also backed companies such as restaurant reservation service OpenTable, review site Yelp and real estate site Zillow. GrubHub launched in 2006 and had previously raised $3.1 million in two rounds of funding from Origin Ventures, Leo Capital and Amicus Capital. Origin Ventures and Leo Capital are both based in Northbrook.
Matt Maloney, GrubHub’s co-founder and chief executive, said the company was looking for funding to expand into new cities and develop new products and features in areas such as mobile applications. Get the full story »
Gold passes $1,400 amid economic fears
Investors looking for safer places to stow their assets pushed gold to a record price above $1,400 an ounce Monday as they become more worried about the global economy.
Berkshire-Hathaway profit falls on derivative losses
Billionaire investor Warren Buffett’s Berkshire Hathaway said on Friday that its third-quarter profit fell as it lost money on a portfolio of stock index derivatives, despite strong market gains in the quarter. Get the full story »
