Paulson control over hotels affirmed

By Henny Sender in Hong Kong

Paulson & Co, the US hedge fund, has won a US court battle with the Government of Singapore Investment Corp over control of a group of luxury hotels that brings it closer to making potential windfall profits.

The Singapore sovereign wealth fund has been trying to wrest control of the hotels – originally part of the holdings of troubled Morgan Stanley real estate funds – from a group led by affiliates of Paulson & Co since early this year.

Singapore wealth fund sees major crisis if US loses AAA status

May 9 (Reuters) - The world could face another major financial and economic crisis if the United States loses its AAA sovereign rating, a top official at Singapore sovereign wealth fund GIC said on Monday.

Separately, Singapore Prime Minister Lee Hsien Loong said he did not expect U.S. President Barack Obama to tackle the country's huge deficit until after presidential elections in 2012, in a sign of growing global unease about the U.S. economy.