October 22Nd International Financial Media Headlines

Below is The world's leading media headlines :

CNBC: back to Goldman Sachs investment against Buffett

According to the Wall Street journal and other media reports, the US investment banking giant Goldman Sachs Group plans to repay Buffett's $5 billion investment in Berkshire's 2008 financial crisis. But for Buffett, early recovery of Goldman Sachs's investment did not do much good. In October 2008, Buffett took a hand in rescuing Goldman Sachs under other the Wall Street firm's plight, which was widely regarded by investors as Buffett's strong view of the latter and largely stabilized Goldman's share price.

However, as a shrewd investor, Buffett put forward harsh conditions in this transaction, including 10% of the dividend payout ratio, that is, Goldman Sachs needs to pay dividends of up to US $500 million per year for Buffett's investment. As the financial crisis receded, Goldman Sachs was reluctant to continue to retain Buffett's investment because it could get funds more easily through other conventional channels.

YAHOO Finance: federal authorities launched an investigation into Avandia

GlaxoSmithKline Co, the world's leading pharmaceutical giant and one of the world's largest vaccine manufacturers, said on Thursday that its controversial drug diabetes treatment drug Avandia is currently being investigated by US federal authorities and US state law enforcement officials. It is reported that as early as a month ago, the Food and Drug Administration (FDA) issued several restrictions on the use of Avandia. Because taking these drugs may lead to heart disease. European regulators also ordered the drug to be delisted.

GlaxoSmithKline said it had received a call from the US attorney general, and the US Department of justice is currently investigating the marketing of the drug. Not only that, GlaxoSmithKline also said it had received similar requests from attorneys general from several US states. GlaxoSmithKline announced in its earnings report on Thursday that sales in the US and European markets fell by 8% and 9% respectively due to reduced sales of Avandia and herpes treatment drug Valtrex, but sales growth in emerging markets helped offset the decline.

Bloomberg: Google cleverly avoids tax and saves billions of dollars.

Google transferred most of its interest rates abroad to a number of tax shelters through a complex legal structure, thereby maintaining its tax rate at an ultra-low level of 2.4%.

The core of Google's international operation is a silver glass building located in the heart of Dublin, Ireland. In 2009, there were about 2000 Google employees in the building. 88% of the total revenue of the search giant in the United States outside the US $12 billion 500 million came from the building. But most of the profits here go to tax havens Bermuda.

New York Times: the government needs to re inject funds to save two houses

On Thursday, the Federal Housing Finance Agency released the forecast of Fannie Mae and Freddie Mac's performance report. According to the agreement on the purchase of preferred shares between the two houses and the government, the Fannie and Freddie are expected to receive a $221 billion to $363 billion bailout from the government.

So far, Fannie Mae and Freddie Mac have received $148 billion from the government. The assessment of the credit losses of the two companies shows that the mortgage business that the government wants to take over from the two houses may still suffer losses.

　 Financial Times: Britain's debt cost dropped to its lowest level in nearly thirty years.

As investors generally believe that the British government has the ability to control the rising fiscal deficit, the cost of debt in the UK has dropped to its lowest level in nearly thirty years, and is lower than that of Germany as Europe's largest economy. George Osborne, the British Chancellor of the exchequer, said on Thursday that he would not make any concessions on the deficit reduction plan, which is the most severe deficit reduction in all major economies up to now.

On Thursday, yields on benchmark 5 - year bonds in Britain fell to 1.43%, which is 0.25 percentage points lower than German bonds and the lowest level since last 80s. On the other hand, the decline in bond yields also reflects investors' concerns about the reduction in corporate spending and the increase in layoffs. {page_break}

　 MarketWatch: Blackstone plans to invest in 15 new hedge funds

The US private equity giant Blackstone Group plans to invest in up to 15 newly established hedge funds to further expand its business by taking advantage of the current fund managers' emerging talent and the shortage of new ventures. At present, the scale of the whole private placement market has reached 1 trillion and 800 billion US dollars. Former Kingdon Capital Management portfolio manager John Wu John is one of the investment targets Blackstone is considering.

In early 2010, Wu left Kingdon. According to sources, Wu plans to build a global hedge fund called Sureview with the financial resources provided by Blackstone. It is reported that as part of Blackstone's investment, Wu can get at least $100 million seed fund.

Reuters: Goldman Sachs proprietary business team transferred to private KKR

Goldman Sachs Group acknowledged on Thursday that the self operated business team led by Goldman Sachs Group's principal strategy department, Bob and Howard, will be transferred to KKR, the private equity giant, which is mainly responsible for trading with Goldman Sachs Group's own funds. Goldman Sachs Group has announced that it will close its proprietary trading sector because the new financial industry regulation act has imposed strict restrictions on bank proprietary trading.

KKR, headquartered in New York, is one of the largest private equity companies in the world. The company is trying to build a broader asset management business, including hedge funds.

　 CNNMoney: Global trade war. China holds rare earth mineral resources.

At present, the issue of exchange rate continues to attract the most attention. However, some experts pointed out that all countries should coordinate their actions and pay attention to avoid escalation of the "exchange rate war" into a comprehensive trade war.

It has been learned that for a long time, US officials believe that because of the low RMB exchange rate and China's dominance in exports, the US has been urging RMB appreciation. Last month, the United States imposed tariffs on tires exported to China. Not only that, but also anti-dumping duties on seamless copper pipes imported from China and Mexico, involving about $233 million in China. In response, China also imposed tariffs on chickens imported from the United States.

India times: software giant TCS net profit increased 32% in the two quarter

Tata Consultancy Services, the largest software company in India (hereinafter referred to as TCS), reported its net profit growth of 32% to 21 billion 692 million 100 thousand rupees in the second fiscal quarter on Thursday. According to India accounting standards, the net profit of the company in the three months ended September 30th was 16 billion 422 million 100 thousand rupees.

In the quarter, TCS increased 19 thousand and 293 employees, a quarter of the company's largest increase in employee history, and the total number of TCS employees increased to 174 thousand and 417. In the second quarter, TCS's operating income increased from 74 billion 352 million 300 thousand rupees to 92 billion 863 million 900 thousand rupees last year. In the quarter, the company's new customers increased by 30.

　 Nikkei news: SHARP will withdraw from PC business

Sharp Co, the Japanese electronics maker, is planning to withdraw from its personal computer business. The company says it is hard for personal computers to become a profit point for stand-alone products. Sharp Co said it will focus its efforts on the Galapagos tablet, which will be launched in December, and launch corresponding e-books, music and video services for the product.

SHARP has been one of the leading companies in personal computer business with its unique technology in LCD and chips. In the 90s of last century, Sharp Co developed the smallest and lightest notebook computer with built-in hard disk and floppy disk drive at that time.