William Ackman's hedge fund is boasting double-digit gains at a time many portfolios have sunk along with the economy during the coronavirus pandemic, after the billionaire investor plowed cash into a number of companies he already owned and dumped Warren Buffett's Berkshire Hathaway among other stocks.
Hedge fund Starboard Value LP is close to having eight directors elected to the board of GCP Applied Technologies Inc at the chemical company's annual meeting, people familiar with the matter said on Wednesday.
Northern Trust Corp's decision to liquidate a $1.8-billion prime money market fund was seen as an outlier event by industry analysts on Wednesday, but one that could portend more problems depending on how the economy fares.
Human Interest, which helps small and medium-sized businesses set up 401K plans for employees, said on Wednesday it had extended its Series C funding round to $50 million due to more demand during the coronavirus crisis.
Small businesses are among the hardest hit as the coronavirus pandemic continues to cause economic uncertainty in communities across the United States.
