SWFI First Read, September 21, 2015
82% of Polled Economists Wrong on Fed Move
The Federal Reserve did not raise interest rates in September. Back in August, The Wall Street Journal surveyed economists over a 5-day span. 82% believe the Federal Reserve’s first rate increase would come in September. 13% believed the Federal Reserve would wait till December.
Kessler Topaz Meltzer & Check, LLP Pursues LifeLock Inc.
Pennsylvania-based Kessler Topaz Meltzer & Check, LLP, a law firm, has pursued a class action lawsuit against LifeLock, Inc. On July 21, 2015, shares of LifeLock fell more than 49% after the U.S. Federal Trade Commission (FTC) “asserted that LifeLock violated a 2010 settlement with the agency and 35 state attorneys general by continuing to make deceptive claims about its identity theft protection services, and by failing to take steps required to protect its users’ data.”
Mubadala Finalizes Ownership Over Piaggio Aerospace
Mubadala Development Co. is now the 100% owner of Piaggio Aerospace. Piero Ferrari sold his remaining 1.95% stake to Mubadala. Piaggio Aerospace manufactures the Avanti turboprop and the unmanned P1 HammerHead. These unmanned aerial vehicle (UAV) are also known as drones.
Possible Shortlist for GE Asset Management
General Electric (GE) has put GE Asset Management up for sale. Possible buyers include: Invesco, Franklin Templeton, Goldman Sachs, BlackRock and Ameriprise Financial Inc. A private equity firm like KKR or Carlyle Group could step in.
Ireland Strategic Investment Fund Considers Backing Alternative Ways to Finance
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