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Financial crisis could hasten wealth shift from West to East

Posted on: August 10th 2009 in Press Releases.

The credit crisis may have forced Citigroup’s former chairman & CEO, Charles “Chuck” Prince, to step down from the top job at what was once the world’s largest bank by market capitalisation, but he argues that the collective belief of the financial system was that the market…

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Second largest US mall owner General Growth files bankruptcy

Posted on: April 17th 2009 in Press Releases.

NEW YORK: General Growth Properties Inc, the second-largest U.S. mall owner, declared bankruptcy on Thursday in the biggest real estate failure in U.S. history. Ending months of speculation, General Growth, along with 158 of its 200-plus US malls, filed Chapter 11 while it tries to refin…

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