Wall Street Week Ahead: U.S. data deluge to underscore divide between roaring market, plunging economy
NEW YORK (Reuters) – A week packed with U.S. economic data is likely to provide investors with more evidence of…
Exclusive: Investors to challenge Neiman Marcus bankruptcy loan, push for sale – sources
(Reuters) – An investor group that comprises investment firm Mudrick Capital Management LP and Daniel Loeb’s hedge fund Third Point…
Exclusive: Hedge fund Third Point targets British insurer Prudential – sources
FILE PHOTO: A man walks past a Prudential sign outside offices in the City of London March 27, 2013. REUTERS/Luke…
Buffett says coronavirus doesn’t dampen his long-term support for stocks
FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire…
Amazon’s Bezos pledges $10 billion to climate change fight
FILE PHOTO: Founder, Chairman, CEO and President of Amazon Jeff Bezos speaks during an event about Blue Origin’s space exploration…
Wall Street hits new highs in strongest week since August
(Reuters) – Wall Street climbed to record highs on Friday, with major indexes turning in their strongest weekly gains since…
Blackstone raises three-quarters of targeted $4.6 billion life sciences fund
FILE PHOTO: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on…
U.S. banks’ reluctance to lend cash may have caused repo shock: BIS
LONDON (Reuters) – The unwillingness of the top four U.S. banks to lend cash combined with a burst of demand…
U.S. securities regulator proposes new rules on use of derivatives in exchange traded funds
WASHINGTON (Reuters) – The U.S. securities regulator on Monday proposed new regulations for the use of derivatives by investment funds…
EBay CEO Devin Wenig steps down, cites differences with board
(Reuters) – EBay Inc (EBAY.O) Chief Executive Officer Devin Wenig stepped down on Wednesday, citing differences with the company’s recently…
Elliott renews call to split Marathon Petroleum
(Reuters) – Elliott Management Corp on Wednesday renewed its demand for Marathon Petroleum Corp (MPC.N) to split into three companies,…
Trian and P&G highlight activist-corporate collaboration after ‘fog of war’
NEW YORK (Reuters) – Eighteen months after officially burying the hatchet in one of America’s most bitter proxy contests, Procter…
Airbnb plans stock market splash in 2020
FILE PHOTO: The logos of Airbnb are displayed at an Airbnb event in Tokyo, Japan, June 14, 2018. REUTERS/Issei Kato/File…
Activist Jana to push again for changes at Outback owner Bloomin’ Brands
BOSTON (Reuters) – Activist hedge fund Jana Partners on Friday disclosed a large new stake in Outback Steakhouse owner Bloomin’…
Oil falls ahead of hurricane but posts weekly gain as U.S.-China trade war eases
NEW YORK (Reuters) – Oil futures fell on Friday, with U.S. crude down nearly 3% ahead of a hurricane near…
Juul raises over $750 million in expanded funding round
FILE PHOTO: A sign advertising Juul brand vaping products is seen outside a shop in Manhattan in New York City,…
BNP Paribas plans bid for Deutsche Bank’s equity derivatives
NEW YORK (Reuters) – French lender BNP Paribas (BNPP.PA) plans to bid for Deutsche Bank’s (DBKGn.DE) equity derivatives book and…
Three U.S. bond kings wield same strategy, get same result: lag their peers
NEW YORK (Reuters) – Three names dominate the U.S. world of bond investing – Jeffrey Gundlach, Dan Ivascyn and Scott…
Exclusive: Third Point builds stake in Ray-Ban maker EssilorLuxottica – sources
(Reuters) – Third Point LLC, the U.S. hedge fund that has pushed for changes at companies ranging from Nestle SA…
DoubleLine CEO Jeffrey Gundlach warns Fed rate cuts will not stop U.S. recession
(Reuters) – Jeffrey Gundlach, chief executive of DoubleLine Capital, warned on Wednesday that rate cuts by the U.S. Federal Reserve…
Investors look for consumer pressure ahead of next tariffs
(Reuters) – As President Donald Trump prepares to slap new tariffs on Chinese imports, investors are bracing for signs of…
BlackRock CEO Larry Fink says ECB must buy equities to stimulate euro zone
NEW YORK (Reuters) – BlackRock (BLK.N) Chief Executive Larry Fink said on Friday the European Central Bank will need to…
BlackRock profit misses estimates, hit by lower fees for lending stocks
NEW YORK (Reuters) – BlackRock Inc (BLK.N), the world’s largest asset manager, took in less cash last quarter as investors…
Rich get richer, everyone else not so much in record U.S. expansion
NEW YORK (Reuters) – Last month Pink Floyd frontman David Gilmour sold his guitar collection for $21.5 million, including one…
Deutsche Bank board to meet July 7 to decide on cutting jobs: sources
FILE PHOTO: The Deutsche Bank headquarters are pictured in Frankfurt, Germany, April 25, 2019. REUTERS/Ralph Orlowski/File Photo FRANKFURT (Reuters) –…
Investor Ackman opposes United Technologies’ aerospace merger with Raytheon: source
FILE PHOTO: William ‘Bill’ Ackman, CEO and Portfolio Manager of Pershing Square Capital Management, speaks during the Sohn Investment Conference…
From prison, ‘Pharma Bro’ Martin Shkreli sues ex-colleagues for $30 million
NEW YORK (Reuters) – Martin Shkreli, the pharmaceutical entrepreneur serving a seven-year prison term for fraud, on Friday sued three…
Highlights: Wit and wisdom of Warren Buffett, the ‘Oracle of Omaha’
NEW YORK (Reuters) – Warren Buffett, the 88-year-old chairman and chief executive of Berkshire Hathaway Inc, is taking hours of…
Wall Street Weekahead: Record-breaking rally leaving energy stocks behind
NEW YORK (Reuters) – The stock market surge since the start of the year that has sent the benchmark S&P…
EBay raises forecast as redesign draws customers, boosts ad revenue
(Reuters) – EBay Inc raised its full-year sales and profit forecasts on Tuesday, as user-friendly changes to its ecommerce platforms…
Sears sues Lampert, claiming he looted assets and drove it into bankruptcy
NEW YORK (Reuters) – Sears Holdings Corp sued longtime former Chairman Eddie Lampert, his hedge fund ESL Investments and others…
Sony stock surges after Reuters reports Third Point re-building stake
TOKYO (Reuters) – Sony Corp shares surged more than 9 percent on Tuesday after a Reuters report saying Third Point…
Exclusive: Loeb’s Third Point building stake to pressure Sony – sources
(Reuters) – Daniel Loeb’s hedge fund Third Point LLC is building a stake in Sony Corp to push for changes…
Sony shares surge after Reuters reports Third Point building stake again
FILE PHOTO: A shopper looks at Sony Corp’s Bravia television monitors at an electronics store in Tokyo June 20, 2013.…
Oil rises to 2019 highs as demand outlook improves
NEW YORK (Reuters) – Oil climbed about 2 percent to new 2019 highs on Monday, with Brent crude touching $69…
Starboard gauges Bristol-Myers shareholder support for Celgene deal
(Reuters) – Activist hedge fund Starboard Value LP has asked a proxy solicitor to probe the level of support among…
Asset managers brace for more job cuts amid market turbulence
LONDON/NEW YORK (Reuters) – Turmoil on financial markets is expected to deepen layoffs and accelerate acquisitions in the fund management…
Sears Chair Lampert makes $4.4 billion bid to keep retailer alive
(Reuters) – Sears Holdings Corp Chairman Eddie Lampert submitted a $4.4 billion takeover bid for the bankrupt U.S. retailer, representing…
Licking their wounds, fund managers prep for rally in ’19
NEW YORK (Reuters) – With bond and equity markets from the United States to emerging markets all on pace to…
In major shift, U.S. now exports more oil than it ships in
(Reuters) – The United States last week exported more crude oil and fuel than it imported for the first time…
Machines take the blame as U.S. stock market sells off
NEW YORK (Reuters) – Investors searching for perpetrators and victims in this week’s U.S. stock market selloff pointed to a…
Vivendi reaffirms support for TIM CEO, decries ‘rumor campaign’
PARIS/MILAN (Reuters) – Top shareholder Vivendi (VIV.PA) reaffirmed its support for Telecom Italia’s (TIM) (TLIT.MI) Chief Executive Amos Genish, while…
Campbell, Third Point urge shareholders to vote for two different boards
(Reuters) – Campbell Soup Co (CPB.N) and hedge fund Third Point LLC on Friday filed preliminary proxy materials urging the…
SEC halts trading in two cryptocurrency products, citing market confusion
NEW YORK (Reuters) – The U.S. Securities and Exchange Commission said on Sunday it was immediately suspending trading in two…
Elliott demands fresh revamp at Hyundai Motor Group
SEOUL (Reuters) – U.S. activist hedge fund Elliott Management has renewed its pressure on Hyundai Motor Group with a fresh…
Activist Elliott argues Sky is worth over $34 billion, UK regulator says
LONDON (Reuters) – Activist hedge fund Elliott believes Walt Disney’s (DIS.N) deal to buy assets from Twenty-First Century Fox (FOXA.O)…
U.S. stock fund investors show no fear of King Dollar
NEW YORK (Reuters) – U.S. fund investors are in no rush to shore up defenses against the strong dollar. Traders…
Exclusive: Saudi Arabia’s PIF has shown no interest in bankrolling Tesla buyout
DUBAI/RIYADH/LONDON (Reuters) – Saudi Arabia’s Public Investment Fund (PIF) has shown no interest so far in financing Tesla Inc (TSLA.O)…
U.S. oil boom delivers surprise for traders – and it’s costly
LONDON/NEW YORK (Reuters) – The world’s biggest oil traders are counting hefty losses after a surprise doubling in the price…
Sky shares leap as Comcast and Fox lock horns in bid battle
LONDON (Reuters) – Sky (SKYB.L) shares leapt to an 18-year high on Thursday as investors bet a transatlantic battle for…
Fox shareholder urges Murdoch to give Comcast time to beat Disney bid
(Reuters) – TCI Fund Management Ltd, a large Twenty-First Century Fox Inc (FOXA.O) shareholder, has urged Fox executive chairman Rupert…
Icahn sells some of his Herbalife shares, remains biggest investor
BOSTON (Reuters) – Billionaire investor Carl Icahn said on Friday that he sold some of his shares in Herbalife (HLF.N)…
Thyssenkrupp CEO feels heat after investor vote of no confidence
FRANKFURT/DUESSELDORF, Germany (Reuters) – Heinrich Hiesinger’s position as Thyssenkrupp’s CEO is more precarious than it has ever been as he…
Australia’s Santos gets final sweetened $10.8 billion bid from Harbour Energy
(Reuters) – U.S.-based Harbour Energy made a final offer of $10.8 billion for Australia’s Santos Ltd (STO.AX) on Monday, hiking…
Sober in Sin City: Hedge funds focus on work at Las Vegas event
LAS VEGAS (Reuters) – A hedge fund industry gathering in Las Vegas this week was far less decadent than those…