Billionaire investor Daniel Loeb said on Friday that his hedge fund Third Point LLC will vote against the planned merger of United Technologies Corp and Raytheon Co , saying there is no "strategic rationale for this transaction."
A former executive of collapsed Dubai private equity firm Abraaj Capital Ltd on Friday pleaded guilty to U.S. fraud and conspiracy charges, admitting that he lied to investors about the firm's financial health and track record.
Investors' appetite for risk-taking was on display in the latest week, as U.S.-based high-yield junk bond funds attracted more than $3 billion in the week ended Wednesday, their third consecutive week of inflows.
Congress and the White House were attempting to broker a deal over how to spend emergency aid to address the migrant surge as lawmakers, private companies and presidential candidates raised alarms about immigrants facing dangerous conditions along the U.S.-Mexico border.
Record highs in the U.S. stock market and the anticipation of equity-friendly interest rate cuts by the Federal Reserve later this year are prompting top-performing large-cap fund managers to seek out unloved stocks in hopes of further gains.
MSCI Inc said on Tuesday it would upgrade Kuwaiti equities to its main emerging markets index in 2020, a move that could trigger billions of dollars of inflows from passive funds.
Bank of America Corp's commodity arm Merrill Lynch Commodities Inc has agreed to pay $25 million to resolve a probe into its trading practices, the U.S. Department of Justice said on Tuesday.
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