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April 7, 2020
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Reuters - Business

Goldman Sachs must face class action over conflicts of interest, risky mortgages

Reuters
NEW YORK (Reuters) – Goldman Sachs Group Inc (GS.N) must face a shareholder class action accusing the bank of hiding conflicts of interest, including behind-the-scenes dealings with a prominent hedge fund manager, when creating risky subprime securities before the 2008 financial crisis. FILE PHOTO: A sign is displayed in the......
CNBC Business

Still ‘maximum short’ Tesla even with drop in last month

CNBC
CNBC – For more and to sign up click here Founder of hedge fund Kynikos Associates and well-known short seller Jim Chanos said on Thursday that he is still betting against Tesla, even after the electric automaker’s stock fell dramatically in the past month. “We are still basically maximum short......
Reuters - Business

WeWork troubles deepen as SoftBank pulls $3 billion tender offer

Reuters
(Reuters) – SoftBank Group Corp (9984.T) said it has terminated a $3 billion tender offer for additional WeWork shares agreed last year with shareholders, drawing threats of legal action and plunging the floundering office space company further into crisis. FILE PHOTO: A WeWork logo is seen at a WeWork office......
Reuters - Business

SoftBank terminates $3 billion WeWork tender offer

Reuters
FILE PHOTO: The logo of SoftBank Group Corp is displayed at the SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato (Reuters) – SoftBank Group Corp (9984.T) said it has terminated a $3 billion tender offer for additional WeWork shares agreed last year with shareholders, including ousted......
Reuters - Business

Asia shares suffer virus chills, central banks offer cold comfort

Reuters
SYDNEY (Reuters) – Asian shares slipped on Monday and oil prices took another tumble as fears mounted that the global shutdown for the coronavirus could last for months, doing untold harm to economies despite central banks’ best efforts. FILE PHOTO: Passersby wearing protective face masks following an outbreak of the......
Reuters - Business

Asia shares suffer virus chills, central banks offer what they can

Reuters
SYDNEY (Reuters) – Asian shares slid on Monday and oil prices took another tumble as fears mounted that the global shutdown for the coronavirus could last for months, doing untold harm to economies despite central banks’ best efforts. FILE PHOTO: Passersby wearing protective face masks following an outbreak of the......
Reuters - Business

Coronavirus worries and strife: Investors fear markets not out of woods despite big rally

Reuters
NEW YORK (Reuters) – After a brutal meltdown, some investors have been wading back into U.S. stocks. But others are wary of another leg down as the coronavirus spreads and its economic impact is difficult to predict. High-profile investors from BlackRock Inc (BLK.N) to billionaire William Ackman have turned more......
Reuters - Business

Worry, problems and strife: Investors fear markets not out of woods despite big rally

Reuters
NEW YORK (Reuters) – After a brutal meltdown, some investors have been wading back into U.S. stocks. But others are wary of another leg down as the coronavirus spreads and its economic impact is difficult to predict. FILE PHOTO: The Wall St. Bull is seen standing on a nearly empty......
Reuters - Business

Mini-bull, tired bear, or something in-between

Reuters
Investors could be forgiven for doing a double-take: Wait, we’re back in a bull market? Source – For more click here To Return to the Main Aggregate News Page – click here Break’n Pics – Click here for Free Stock Photos...
CNBC Business

Ken Griffin and David Tepper top Institutional Investor’s Rich List

CNBC
CNBC – For more and to sign up click here Ken Griffin Lucy Nicholson | Reuters Renaissance Technologies’s James Simons, Citadel’s Ken Griffin, Points72’s Steven Cohen and Appaloosa Management’s David Tepper were among the biggest hedge fund earners in 2019 with each man raking in over $1 billion, according to......
Reuters - Business

Treat with caution: rocketing stocks aren’t cause for comfort

Reuters
NEW YORK (Reuters) – Those pining for a bottom to the gut-wrenching stock market selloff may be disappointed to learn that mega one-day rallies like the historic one witnessed on Tuesday are typically not the start of a durable recovery. FILE PHOTO: Traders work on the floor of the New......
Reuters - Business

Occidental slashes budget, salaries in bid to cope with falling oil prices

Reuters
HOUSTON (Reuters) – Occidental Petroleum Corp (OXY.N) on Wednesday unveiled a new round of deep spending cuts, slashing budget for a second time this month and sharply reducing salaries, as the debt-laden U.S. oil producer tries to save cash amid tumbling energy prices. FILE PHOTO: The logo for Occidental Petroleum......
Reuters - Business

SoftBank shares jump 20% on record buyback announcement

Reuters
TOKYO/HONG KONG (Reuters) – SoftBank Group Corp (9984.T) stock jumped 20% on Tuesday, extending a run that began a day earlier when the Japanese tech investor announced up to $41 billion in asset sales and a record share buyback to shore up its collapsing share price. FILE PHOTO: The logo......
CNBC Business

David Tepper says he’s buying some tech stocks, but market may have 10% to 15% more to fall

CNBC
CNBC – For more and to sign up click here Billionaire investor David Tepper said he is cautiously buying some stocks, particularly in the tech sector, as the broader market tumbles amid the coronavirus outbreak. However, he noted the relentless selling may have further to go.  “I’m nibbling right now, for what......
Reuters - Business

SoftBank plans $41 billion of asset sales to expand buyback and cut debt

Reuters
TOKYO (Reuters) – SoftBank Group Corp (9984.T) plans to raise as much as $41 billion to buy back shares and reduce debt in an unprecedented move to restore investor confidence as a financial market rout pummels its shares and its portfolio companies. The Japanese tech conglomerate’s plans come as it......
Reuters - Business

Central banks deploy record sums to break financial logjam, but may need more

Reuters
LONDON/BOSTON (Reuters) – Central banks have offered trillions of dollars of support to markets in recent days to keep them from freezing up, as investors worried about the economic damage from the coronavirus and made a chaotic dash for the exits. FILE PHOTO: A trader wears a mask as he......
Reuters - Business

Hedge fund billionaire Dalio says corporate losses in U.S. from coronavirus to top $4 trillion: CNBC

Reuters
FILE PHOTO: Bridgewater Associates Chairman Ray Dalio attends the China Development Forum in Beijing, China March 23, 2019. REUTERS/Thomas Peter/File Photo (Reuters) – Ray Dalio, founder of hedge fund Bridgewater Associates LP, said on Thursday corporations in the United States will lose as much as $4 trillion due to the......
Reuters - Business

Just another trading day: Wild swings and dash for cash trigger selling

Reuters
(Reuters) – Another day of massive swings across asset prices was marked by scant liquidity as investors dashed for cash while systematic strategies triggered automated selling amid rising volatility, market participants said. FILE PHOTO: A street sign, Wall Street, is seen outside New York Stock Exchange (NYSE) in New York......
Reuters - Business

Harley-Davidson faces proxy fight with investor Impala

Reuters
BOSTON (Reuters) – Harley-Davidson Inc (HOG.N) faces a battle with one of its investors after Impala Asset Management said on Wednesday it will try to install two directors at America’s oldest and best-known motorcycle maker. FILE PHOTO: A Harley-Davidson Inc. logo is seen at the Paris auto show in Paris,......
Reuters - Business

The plumbing behind world’s financial markets is creaking. Loudly

Reuters
LONDON (Reuters) – The coronavirus panic is jolting stock markets, with steep drops in major indexes grabbing the public’s attention. But behind the scenes, there is less understood and potentially more worrying evidence that stress is building to dangerous levels in crucial arteries of the financial system. Bankers, companies and......

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