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PBOC, based in Los Angeles, agreed to buy BYL Bancorp of Orange, Calif., earlier this month, increasing its assets by about 10percentto to $3.3 billion.
His sales pitch worked exceptionally well in the early to mid-1990's, when Mr. Abraham lured investors like the Commodities Corporation, a futures and commodities investment firm acquired by Goldman Sachs in 1997, to invest in his fund, increasing its assets to more than $130 million.
The divestiture is proceeding now, he said, because Gulf & Western has strengthened Associates, increasing its assets to more than $13 billion.
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The central bank followed with its announcement that it would seek to raise liquidity by increasing its asset purchase program, including Japanese government and corporate bonds, to 15 trillion yen from 10 trillion yen announced previously.
Under the plans, BNP Paribas, France's largest bank, said it would hire 500 people and increase its annual revenue from its German operations to 1.5 billion euros, while also increasing its asset-management unit in fast-growing emerging economies, particularly those in Asia.
An acquisition of a company like Potash, Moody's said in a statement, "would moderately enhance BHP Billiton's business profile, further increasing its asset and geographic diversity as well as substantially raising its presence in potash, which has solid medium/long term fundamentals".
With the sizable output gap and well-anchored inflation [7] expectations keeping inflation subdued, the Fed appropriately continued to add monetary policy accommodation over the past year by increasing its asset purchases and linking the path of short-term rates to quantitative measures of economic performance, thus helping to maintain long-term rates at exceptionally low levels [8].
The stock rarely looks supercheap based on trailing earnings, but the company has a habit of increasing its asset base at more than 10% annually.
But even the positive numbers ignore the fact that Enron was at the same time dramatically increasing its asset base through mergers and by issuing debt (not even considering unreported debt owed by the off-balance-sheet partnerships).
In the last year, Morgan Stanley said it had increased its assets under management by $90 billion, to $548 billion.
The company said it reduced operating expenses and increased its assets under management last year.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com