SHANGHAI (Reuters) – Major foreign banks are less interested in buying into Chinese banks since Beijing allowed them to set up wholly owned subsidiaries in China last year, a survey by global consultancy PricewaterhouseCoopers shows. Foreign banks that had already bought into Chinese lenders, such as HSBC Holdings Plc (HSBA.L: Quote, Profile, Research, Stock Buzz) […]
NEW YORK (Reuters) – Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) could take substantial write-downs in the second quarter, the company's chief financial officer said on Thursday, raising concern the bank's second-quarter earnings would be weaker than expected. CFO Gary Crittenden told investors on a conference call that many asset write-downs in the second […]
AdMeld Inc. has secured $5 million of a $6 million Series A-1 round, according to a regulatory filing. Backers include Foundry Group and Spark Capital. The New York-based company says it provides solutions that “blend advertising operations and agile software development to drive advertising revenue for online publishers.” The company's founding team was previously […]
Chegg.com, a Santa Clara, Calif.-based online marketplace for college students, has raised around $5 million in Series B funding, according to a regulatory filing. Return backers Gabriel Venture Partners and Mike Maples. www.chegg.com
Spur Ventures has held a $75 million first close for its third VC fund-of-funds, according to a regulatory filing. Limited partners include The Boston Foundation, Chapman Private Equity and the M.J. Murdock Charitable Trust. www.spurcap.com
Jonathan Russell, a managing partner with 3i, has been elected chairman of the European Private Equity and Venture Capital Association (EVCA). He succeeds Helmut Schusler, chairman of TVM Capital. PRESS RELEASE Jonathan Russell brings to the EVCA Chairmanship the weight of one of the world's best-known mid-market firms, reflecting the importance of this segment of […]
Cardinal Gas Storage Partners LLC has acquired two natural gas storage development projects from a natural gas pipeline subsidiary of CenterPoint Energy Inc. The projects are located in Northern Louisiana, and include a salt dome storage development project and a depleted reservoir storage development project. No financial terms were disclosed. Cardinal Gas Storage was formed […]
David Hellier has joined Bertram Capital as head of national business development. He previously was president and CEO of The Gemisis Corp., a developer of diamond growth technology. He also has held senior management positions at Ask.com and Iomega. www.bertramcapital.com
Olivier Leclerc has been named CEO of SGAM Asset Management, a subsidiary of Societe Generale Asset Management. He originally joined SGAM in January 2006 as head of finance and operations, later becoming chairman and CEO of SGAM Banque. www.sgam.com
Boundless Network Inc., an Austin, Texas-based promotional merchandising company, has acquired Phoenix-based Theresa Roberts Inc. No financial terms were disclosed. Boundless has raised around $8.5 million in VC funding from firms like Austin Ventures and Silverton. PRESS RELEASE Boundless Network, a leader in professionalizing the promotional products industry, today announced the acquisition of Phoenix-based Theresa […]