AIG aims for 10 pct of Taiwan wealth mgmt market
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AIG's  private banking unit is aiming to take 10 percent of Taiwan's wealth management market within five years, targeting residents who have made big money in China, a top executive said on Tuesday.
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Dutch bank and insurer ING Group said Monday it will sell the activities of Baring Asset Management, nearly a decade after it purchased the remains of the bankrupt British bank Barings.
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EADS is targeting $10 billion in defense and security sales in the United States, its top managers said on Thursday, setting an ambitious goal for the European aerospace giant as it looks to crack the world&#39;s richest defense market.
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A new Goldman Sachs Group  stock  hedge fund could be launched with more than $6 billion, with  some investors expecting the fund to attract as much $10  billion, people familiar with the fund said.
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The &quot;Wells notice&quot; stems from an SEC probe into transactions that AIG Financial Products, the parent&#39;s derivatives unit, structured for PNC Financial of Pittsburgh in 2001.
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The private-equity firm invests more than 10% of its assets in the latest quarter.
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TOKYO/HONG KONG  - U.S. private equity fund Blackstone Group is raising $10 billion for one of the biggest ever global property funds, sources familiar with the matter said on Thursday.
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(InfoWorld) - The head of the world's largest contract chip maker said his industry will have trouble maintaining sales and profit growth in the future because the overall chip industry has slowed down and there's a lot more competition. Taiwan Semiconductor Manufacturing Co. (TSMC) plans to expand to new markets and find new work in product areas such as chips for mobile phones, digital cameras, and other consumer electronics devices in order to meet these challenges, said Morris Chang, the chairman of TSMC, at the International Solid-State Circuits Conference in San Francisco on Monday. The company released information from his speech. Overall revenue growth in the chip industry has slowed to around 6 percent per year between 2000 and 2010, from 16 percent each year prior to 2000, he said. At the same time, more new rivals have entered the contract chip making business. His company will have to find new ways to grow despite these challenges, he said. "Growth opportunities exist in cell-phone applications, game systems, digital TV, LCD displays, power management, MP3 devices, and digital cameras," a paper Chang submitted to the conference reads. Developing closer relationships with the chip design companies that create chips for these kinds of products will be a key strategy for TSMC in the future. TSMC manufactures chips that are designed by other companies, a business model it pioneered. Prior to the Taiwanese company's founding, small chip design firms had to ask Intel, Motorola, and other big chip makers to make their chips, and these companies would only comply if their factories weren't being fully used already. Most small companies didn't have enough money to set up their own chip factory because the high tech plants used to cost around $1 billion each. Now, a new one can cost $3.5 billion. TSMC stepped in to fill the gap, and the result has been the steady growth of chip design companies that never build their own factories. They rely on TSMC or other foundry chip makers, including Taiwan's United Microelectronics Corp. (UMC), to manufacture their chips. Mobile phone chip developer Qualcomm and graphics chip designer Nvidia are two examples of companies that have been wildly successful, despite not owning their own factories. They farm out production to foundries such as TSMC and UMC. The success of TSMC and UMC has caused a number of new competitors to enter the chip foundry business. IBM, Samsung Semiconductor, and China's Semiconductor Manufacturing International Corp. (SMIC)Â are all examples of latecomers to the foundry business. These new rivals have been able to survive, and in some cases thrive. "The growth of the industry has attracted many companies to offer foundry services. Consequently, competition between these companies increases the potential for commoditization of foundry services," according to Chang's report. He goes on to say that going forward, the best defense for TSMC will be to engage with chip design customers far earlier in the developing stage of their products, and to offer a wider range of production services. TSMC and UMC hold around a 75 percent share of the global chip foundry business, according to investment banking firm Merrill Lynch & Co. Last week, TSMC said itÂ opened its first office Bangalore, India, to find new customers and help existing ones complete their chip designs faster and bring products more quickly to market. Â
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Asset management company Federated Investors Inc. on Thursday said it will buy Alliance Capital Management Holding LP&#39;s cash management business.
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The central bank says China's economy should grow by 10.5 percent this year, state media reported Sunday, even stronger than the 10 percent predicted last week by the National Bureau of Statistics.
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By George Hsu  Taiwan stocks, laggards in Asia since 2001, may catch up with markets elsewhere in the region next year as new products spur demand for video game consoles, computers and semiconductors.
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Investors in the market for mutual funds may want to consider a promising alternative: shares of asset management companies that sell the funds.
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By Srisamorn Phoosuphanusorn, Bangkok Post, Thailand  Mar. 9--Advanced Info Service (AIS) has scaled down its investment this  year amid rising political uncertainty to avoid becoming a target of any  further attacks on its parent, Shin Corp, and its Singaporean shareholders.
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TAIPEI - China is likely to have 800 ballistic missiles targeting Taiwan before the end of 2006, Taipei&#39;s defence minister said yesterday as he pressed the case for an US$18-billion ($30.
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A federal grand jury is investigating  products American International Group Inc. sold that companies  might have used to make their earnings look better, AIG, the  world's largest insurer by market value, said on Thursday.
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Companies plan to invest $13.9 over five years to build new factories in Taiwan.
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International Business Machines Corp.  is reaping the rewards of a decade-long push into China's  business computer industry and is eyeing upward of a 50-percent  market share, its country head said.