Brazilian Banks Expand In Miami To Keep Up With Wealthy Clients
Wealthy Brazilians looking to escape recession, corruption scandals and political upheaval have long made Miami their destination of choice. Now some of the nation’s biggest banks are seeing the allure as well. Itau Unibanco Holding SA, the Sao Paulo-based firm that’s the top sponsor of the Miami Open tennis tournament, is targeting $12 billion in assets under management there by December, a 9 percent increase. Grupo BTG Pactual, also based in Sao Paulo, is opening an asset-m
We're Just Learning the True Cost of China's Debt
The true cost of the debt that China’s real estate developers peddled to eager international investors during a five-year property boom is now becoming clear. Having found themselves shut out of local bond and loan markets seven years ago, a band of developers began looking elsewhere for funds. First an initial public offering, and then a dollar bond sale. It became a well-trodden path. By 2010, a core group of four -- Kaisa Group Holdings Ltd., Fantasia Holdings Group Co., R
Bright Ideas: 6 Bold Startups Reinventing Their Industries
Some industries have been around almost as long as commerce itself. For new companies in markets like clothing and furniture, there are two options: Stick with the time-tested status quo, or take a risk and try something new. These six startups took the latter path and put their own twists on each of their respective, long-standing industries. The company: Boll & Branch
The industry: Textiles What do you do when you're going to launch a business in an unfamiliar market and e
