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Obama Selects Kathryn Dominguez to Fed Board

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According to the White House, U.S. President Barack Obama plans to nominate Kathryn Dominguez to the Federal Reserve Board of Governors. Kathryn Dominguez is a public policy and economics professor at the University of Michigan. Earlier in her career, Dominguez had stints at the World Bank, the International Monetary Fund, and the Bank for International Settlements. She would represent the Chicago region. Dominguez is also a research associate at the National Bureau of Economic Research, the largest private economics research organization in the United States. Dominguez’s research focuses on exchange rate behavior and international financial markets. She is filling one of the vacancies on the board. Former Bank of Hawaii CEO Allan Landon is filling the other vacancy on the board.

“Dr. Dominguez has the proven experience, judgment, and deep knowledge of the financial system, monetary policy, and international capital markets to serve at the Federal Reserve during this important time for our economy. She brings decades of leadership and expertise from various roles, particularly from her years as a leading economist and academic. I am grateful she has chosen to take on this important role, and I look forward to working with her,” President Obama said in a statement.

Kathryn Dominguez must be confirmed by the U.S. Senate to serve her 14-year term on the Federal Reserve Board of Governors.

PNB to Buy Stake from Malaysian Developers in Battersea Power Station Project

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Malaysia-based Permodalan Nasional Bhd (PNB) inked plans to acquire a stake in the Battersea Power Station from Malaysian developers Sime Darby Property and SP Setia, which between them own 80 percent of the site located on the south bank of the Thames. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Will Saudi Arabian Sovereign Wealth Be the Next Giant in Hollywood?

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Saudi Arabia’s growing Public Investment Fund (PIF) is reportedly looking into investing over US$ 500 million for a 5% to 10% stake in Hollywood’s Endeavor Talent Agency, the holding company for William Morris Endeavor Entertainment LLC (WME). WME is one of the biggest players in the business, representing well-known artists across a number of different mediums – including cinema, television, music, books, and theatre – as well as a roster of professional athletes from the National Football League (NFL) and National Hockey League (NHL). Discussions are in their initial stages, however, and no commitments have been made thus far. WME is constantly gather new talent. Recently WME signed musician John Mayer and actor Nicolas Cage – both were with Creative Artists Agency (CAA).

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AIMco Extends Loan Increase to Razor Energy

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Calgary-based Razor Energy Corporation, a listed junior oil and gas company, locked in an increase of C$ 15 million regarding its non-revolving term loan facility from the Alberta Investment Management Corporation (AIMCo). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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