Archive for August, 2009
Cerberus clients overwhelmingly want out: report (Reuters)
BOSTON (Reuters) –
Cerberus Capital Management has been swamped with redemption requests with the Wall Street Journal reporting that investors are asking to pull out $5.5 billion or 71 percent of assets from its hedge funds.
Cerberus last month tried to entice investors into staying with the firm, but found that its clients overwhelmingly wanted to leave, [...]
30Aug2009 | it-y | 0 comments | Continued
Blockbuster shares jump after Irish retailer sale (AP)
NEW YORK – Shares of Blockbuster Inc. jumped Friday after the chain said it sold Irish entertainment retailer Xtra-vision Ltd. in a deal valued at up to $45 million.
The movie and video game rental chain, which bought Xtra-vision in 1997, said it plans to use most of the proceeds for boost its liquidity.
At least one [...]
Consumer sentiment at 4-month low (Reuters)
NEW YORK (Reuters) –
U.S. consumer confidence fell to its lowest level in four months in August on worries over high unemployment and dismal personal finances, though the mood improved from earlier this month, a survey showed on Friday.
The Reuters/University of Michigan Surveys of Consumers said its final index of confidence for August fell to 65.7 [...]
30Aug2009 | it-y | 0 comments | Continued
Tiffany 2Q profit falls, tops view, boosts outlook (AP)
NEW YORK – Tiffany & Co. said Friday that its second-quarter profit fell 30 percent on lower sales, but the results beat analysts’ estimates. The luxury retailer also raised its full-year earnings guidance, saying its August sales trends are meeting expectations.
“While economic and retail conditions remain challenging, we were encouraged to see many stores achieving [...]