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DALLAS--(BUSINESS WIRE)--Dec 20, 2013--Panda Power Funds today announced that it has completed the acquisition and successful financing of Moxie Energy’s planned 829-MW natural gas-fueled, combined-cycle “Patriot” generating station, located in Lycoming County, Pennsylvania. When completed, the Patriot project will be the second new power plant in the Keystone State — after Panda’s “Liberty” power plant — specifically developed to take advantage of its proximity to the Marcellus Shale. Panda will immediately start construction on the 85-acre site and expects commercial operations to begin by the middle of 2016.
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ORLANDO, Fla. (AP) — Cold hard cash is the payment method of choice for Florida real estate buyers.
SEOUL, South Korea (AP) — The two Koreas have taken an initial step to open their jointly run industrial park to overseas investors.
NEW YORK (AP) — The Federal Reserve's decision to trim its stimulus efforts next month is being well-received on Wall Street. The decision removes a huge amount of uncertainty for investors who've been wondering when the central bank would make such a move. Stocks surged yesterday. The Dow jumped 293 points. The S&P 500 rose nearly 30 points. The Nasdaq was up 46.
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DENVER--(BUSINESS WIRE)--Dec 18, 2013--Olson, a KRG Fund IV (“KRG”) portfolio company and one of the top five independent full-service digital advertising agencies in North America, announced today its acquisition of PulsePoint Group, an Austin-based digital marketing strategy consulting firm.
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BERLIN (AP) — A survey has found that German investor confidence has jumped to a 7 ½-year high in December on the back of hopes of an economic upturn in Europe.
NEW YORK--(BUSINESS WIRE)--Dec 16, 2013--Moody’s Analytics, a leader in risk measurement and management, has been named Best Economic and Regulatory Capital Calculation Solution Provider by the readers of Risk magazine . The recognition is part of the 2013 Risk Technology Rankings, an industry award chosen by the readers of Risk magazine, which has more than 260,000 subscribers.
SMITHFIELD, R.I.--(BUSINESS WIRE)--Dec 16, 2013--Despite risk management being their top concern and many with closed or frozen pensions, more than half (55%) of U.S. mid-market corporations stated they intend to maintain or increase their current risk profile, according to new research by Pyramis Global Advisors , a Fidelity Investments ® company and leading institutional multi-asset class investment manager with nearly $200 billion in assets under management and more than 600 institutional clients.
PORTLAND, Maine & STAMFORD, Conn.--(BUSINESS WIRE)--Dec 13, 2013--Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced the debut of its world-renowned Westin® brand in Portland, Maine following the strategic conversion of a landmark property in the heart of the city’s Arts District. Owned by Rockbridge and managed by New Castle Hotels & Resorts, The Westin Portland Harborview is the state’s first Westin hotel, featuring 289 guest rooms and suites, two dining outlets, a day spa and all of the brand’s distinctive signature amenities. Formerly known as the Eastland Hotel, The Westin Portland Harborview completed an 18-month, $50 million restoration and renovation project prior to raising the Westin flag.
DETROIT (AP) — General Motors Co. is unloading its stake in French automaker PSA Peugeot Citroen.
DETROIT (AP) — General Motors says it has sold its 8.5 percent stake in Ally Financial for about $900 million.
DENVER--(BUSINESS WIRE)--Dec 12, 2013--ATI Physical Therapy Holdings, LLC (“ATI”), a leading provider of comprehensive outpatient rehabilitation services and a KRG Capital Partners’ (“KRG”) Fund IV portfolio company, has completed three acquisitions year-to-date 2013, adding Michigan and Tennessee to ATI’s ten state footprint. ATI acquired two Michigan-based outpatient rehabilitation practices, SCP Physical Therapy, LLC (“MRS”) and Dwight Orthopedic Rehabilitation (“Dwight”), with 29 clinics and 22 clinics, respectively, and North River Physical Therapy (“North River”), an eight clinic, Tennessee-based outpatient physical therapy provider.
NEW YORK--(BUSINESS WIRE)--Dec 12, 2013--Investment professionals worldwide report greater optimism over economic prospects for the coming year, but do not express confidence that the integrity of capital markets is improving, according to the CFA Institute 2014 Global Market Sentiment Survey (GMSS). Sixty-three percent of CFA Institute survey respondents think that the global economy will expand in 2014, representing a significant shift in opinion over the previous two years, however more than half (54 percent) point to a lack of ethical culture within financial firms as the factor that has contributed the most to the current lack of industry trust. The annual survey measured the opinion of 6,561 CFA charterholders and members; to review the complete report and survey results, visit www.cfainstitute.org/gmss.
MILAN (AP) — The Italian luxury down jacket maker Moncler says investors sought more than 31 times the stock offered in its initial public offering.
CHARLOTTE, N.C.--(BUSINESS WIRE)--Dec 11, 2013--As the Dow index surpassed 16,000 this fall, U.S. investor optimism faltered in the fourth quarter, following the federal government’s budgetary standoff and shutdown in October. The Wells Fargo/Gallup Investor and Retirement Optimism Index fell eight points to +25 in November, down from +33 in August, the lowest level this year. The decline of eight points hinges more on investors’ waning confidence in the economy than on personal financial circumstances. The survey of 1,014 people was conducted between November 7 and 11, 2013.
NEW YORK--(BUSINESS WIRE)--Dec 11, 2013--Moody's Corporation (NYSE:MCO) announced today that it has acquired Amba Investment Services, a provider of investment research and quantitative analytics for global financial institutions. Amba will operate as part of Moody’s Analytics majority-owned subsidiary, Copal Partners.
CINCINNATI--(BUSINESS WIRE)--Dec 10, 2013--Fifth Third Asset Management, Inc., (FTAM), a wholly-owned subsidiary of Fifth Third Bank, announced today its new company name as ClearArc Capital, Inc. The change is effective immediately and is part of the organization’s overall strategic direction to continue to provide institutional clients with clear and transparent investment management services to help achieve their long-term investment goals.
NEW YORK--(BUSINESS WIRE)--Dec 10, 2013--Self-made millionaire trader Timothy Sykes is proud to announce today that one of his Millionaire Challenge students, Tim Grittani, has crossed the one-million-dollar profit mark, becoming his second millionaire student in the last six weeks, preceded by Michael K. Goode.