Former Citigroup Inc. Chief Executive Officer Charles O. “Chuck” Prince said he wasn’t aware of the mortgage-related securities that caused the bank’s biggest losses until the financial crisis struck. Neither was Robert Rubin, the former U.S. Treasury secretary who headed the bank’s executive committee in the decade leading up to the crisis, he said at a hearing today [...]

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  THE financial crunch has hurt the Singapore Academy of Law as well, causing the group to lose $5.2 million from investments from April last year to March this year.The academy – whose group activities include publications and mediation services, among other things – lost close to $6.3 million when it sold off its bonds [...]

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Dubai was supposed to be a new model for economic development in the Persian Gulf, and in the world. And like so many recent “new models,” Dubai is proving to be a lemon. The theory was that Dubai would be a competitive, free oasis in a region generally hostile to the open market. Lacking oil [...]

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NATIONAL University of Singapore has disclosed hundreds of millions of dollars in losses in the year to March as the financial crisis bit deep into its invested endowment funds. Singapore Management University last month reported a $99 million hole in its $436 million endowment fund and another $58 million hit to its accumulated surpluses but [...]

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It is difficult to ignore the many advertisements in the newspapers these days offering different ways to create wealth from the stock and property markets. That millionaires seem to have made their money in such ways is a big draw for many. One advert claimed: ‘Our graduate made 7,700 per cent profit and turned $1,000 [...]

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Oct. 23 (Bloomberg) – New Jerseytaxpayers are sending almost $1 million a month to a partnership run by Goldman Sachs Group Inc. for protection against rising interest costs on bonds that the state redeemed more than a year ago.

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By Seah Chiang Nee. Sept 12, 2009 “We sat through a talk yesterday on land investment in Birmingham and was shocked when my friend immediately ploughed in S$25,000 to buy a 1,076 sq ft parcel,” an Internet surfer recently wrote. “It had no planning permit and might take seven years to get one,” he added. [...]

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This article is the winner in the university category of the Plus new writers award 2009. On a sunny morning in 2001, a piece of investment plan landed on the desk of Dick Fuld, the then Chief Executive of Lehman Brothers. The document, compiled by a team of maths and physics PhDs, included a calculation to [...]

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SHE’s a 27-year-old whose job it is to advise bank clients and sell them investment products. Her job title is bank relationship manager. But, going by her own investments, she now jokingly refers to herself as a “relationship damager”. Reason: She’s lost about $90,000 of her own money in the stock market. And she managed [...]

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