• More Wore Wires in Bid to Investigate Inside Trades in Galleon Case
  • Swaps Come Under Fire
  • Barclays on the Hunt for a U.S. Retail Bank
  • Dubai Made Progress in Debt Talks, U.K. Minister Says
  • Internet hustlers go after Madoff victims
  • Obama’s Health-Care Push Gets Challenge From Business Coalition
  • SEC Economist Leaving Amid Short-Sale Rules Conflict
  • Hedge Funds Rose 0.5% in February on Market Recovery
  • Apollo Management Said to Buy Citi’s Property Unit
  • Google Launches Store For Web Apps

More Wore Wires in Bid to Investigate Inside Trades in Galleon Case – Wall Street Journal

Federal prosecutors in Manhattan equipped several cooperating witnesses with recording devices to try to obtain information about targets in the Galleon insider-trading probe, people familiar with the matter say.

Among them is Franz Tudor, a former Galleon Group hedge-fund trader, the people familiar with the matter say. Mr. Tudor, 36 years old, made recordings last year in an attempt to extract information from two friends and colleagues who are defendants charged in an insider-trading conspiracy, Zvi Goffer and Michael Kimelman, the people say…..

Barclays on the Hunt for a U.S. Retail Bank – Wall Street Journal

After buying up Lehman Brothers Holdings Inc.’s North American operations at the peak of the financial crisis, British bank Barclays PLC is on the prowl for another major acquisition in the U.S., according to people close to the matter.

Barclays is hunting for a retail bank at a good price that would give it more deposits and build on the presence of Barclays Capital in the U.S., these people said. The bank, in response to potential changes in banking regulation, has designated an internal team to assess possible targets, these people said. Barclays is focused only on reconnaissance right now, and no deal is imminent, they said……

Dubai Made Progress in Debt Talks, U.K. Minister Says – Bloomberg

Dubai World, the state-owned holding company seeking to renegotiate terms on $26 billion of debt, made “some progress” in talks with creditors, U.K. Trade Minister Mervyn Davies said.

“There are signs of some progress being made from what I hear from the banks and therefore I am hopeful that this progress can continue,” Davies said in Dubai today. He was speaking before meeting with the emirate’s officials, including Sheikh Ahmed Bin Saeed al-Maktoum, chairman of Dubai Supreme Fiscal Committee…..

Internet hustlers go after Madoff victims – NY Post

….After being bilked out of $65 billion by Ponzi mastermind Bernard Madoff, his victims suffered a second indignity this week when a Nigerian Internet scam sought to steal their personal information with promises of getting back money they’d lost to the fallen financier.

Using a bogus Web site that called itself the International Securities Investor Protection Corp., the overseas scamsters claimed they had $1.3 million in Madoff money stashed away in Malaysia, bolstering their assertions with pictures of huge stacks of cash…..

Obama’s Health-Care Push Gets Challenge From Business Coalition – Bloomberg

President Barack Obama is facing a renewed push against his health-care legislation as a coalition of business groups plans to spend as much as $1 million a day on advertisements to pressure lawmakers into voting “no.”

The campaign will last about 10 days and cost between $4 million and $10 million, said Bruce Josten, the top lobbyist at the U.S. Chamber of Commerce, which is helping lead the effort. The ads will start on national cable television and run in 17 states, Josten told reporters on a conference call……

SEC Economist Leaving Amid Short-Sale Rules Conflict – Bloomberg

James Overdahl, whose office reviews potential regulations to determine whether benefits outweigh costs, said in an e-mail today that he will step down March 31 to join NERA Economic Consulting. He joined the SEC in 2007 from the Commodity Futures Trading Commission, where he also served as the top economist.

Republican commissioners cited economic analysis last month as they protested the SEC’s new restrictions on short-selling, saying the agency lacked data to show bearish stock bets contributed to the 2008 financial crisis. Kynikos Associates Ltd. President James Chanos, in a news release after the vote, said the SEC disregarded evidence that short-selling boosts liquidity and leads to more accurate stock valuations……

Hedge Funds Rose 0.5% in February on Market Recovery – Bloomberg

Hedge funds returned 0.5 percent in February, led by North American managers, as global stock markets rose on signs of recovery in corporate earnings and signs that U.S. interest rates will remain low, Eurekahedge Pte said.

The Eurekahedge Hedge Fund Index, tracking more than 2,000 funds, is down 0.3 percent this year through February, after posting its first monthly loss in four in January, the Singapore-based research firm said in a preliminary report on its Web site. Almost 90 new funds started globally in the first quarter of this year, the report said…..

Apollo Management Said to Buy Citi’s Property Unit – Bloomberg

Apollo Management LP agreed to buy Citigroup Inc.’s real estate investment unit, according to a person with knowledge of the deal.

The purchase of Citi Property Investors will more than triple New York-based Apollo’s real estate assets, said the person, who asked not to be named because the negotiations are private. The portfolio includes 65 investments in 26 countries with a net asset value of $3.5 billion, the person said……

Google Launches Store For Web Apps – Information Week

In a move likely to accelerate the development and adoption of online business applications, Google on Tuesday evening launched the Google Apps Marketplace, an online store that third-party developers can use to sell their Web apps to administrators and users of both the free and paid versions of Google Apps.

The Google App Marketplace offers developers access to over 25 million Google Apps users, a group that includes some 2 million businesses…..

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