Ackman says TV interview did not lead to profit on trades

FILE PHOTO: William ‘Bill’ Ackman, CEO and Portfolio Manager of Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York City, U.S., May 8, 2017. /Brendan McDermid/File Photo BOSTON () – Billionaire investor William Ackman said a CNBC television interview he gave last week was not designed to profit from any trades, […]

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Column: How the $2 trillion U.S. coronavirus relief bill impacts retirement savers

CHICAGO () – The $2 trillion economic stimulus package racing toward passage in the U.S. Congress contains several important relief provisions for retirees, and for younger workers saving for retirement. A window illuminated with a red light shines above the U.S. Senate steps, ahead of a vote on the coronavirus (COVID-19) relief bill on Capitol […]

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U.S. cruise line company Lindblad names directors backed by ValueAct to its board

BOSTON () – Lindblad Expeditions on Thursday said it named two independent directors backed by activist investment firm ValueAct Capital, which owns a nearly 10% stake in the adventure cruise company, to its board. New York-based Lindblad appointed Thomas Smith, a former chief executive of auction house Sothebys, and Sarah Farrell, an associate at ValueAct, […]

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Settlement talks between First United, Driver Management break down-sources

BOSTON () – Talks between First United Corp and Driver Management to settle a fight for board seats at the bank holding company broke down when the activist investor rejected the offer, two sources familiar with the matter said on Thursday. First United, the holding company for Maryland community bank First United Bank & Trust, […]

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White House not considering three-month tariff deferral: Navarro

() – The White House’s top trade advisor denied on Tuesday that the Trump administration was considering a three-month deferral of tariff payments on imported goods to ease the pain of the economic shutdown caused by the coronavirus pandemic. FILE PHOTO: U.S. President Donald Trump takes questions during the coronavirus response daily briefing at the […]

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Trump administration debates 90-day tariffs deferral: Bloomberg News

() – The administration of U.S. President Donald Trump is debating if it should defer payments of duties on imported goods from around the world for three months, Bloomberg reported on Tuesday, citing people familiar with the talks. Talks in recent days involving the U.S. Customs and Border Protection and other government agencies about suspending […]

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Money fund turmoil spotlights New Jersey portfolio’s ‘shadow price’

BOSTON () – A New Jersey municipal money-market fund run by BNY Mellon Corp is still paying investors $1.00 a share, even though the mark-to-market price of the fund recently dropped to $0.9968 per share, analysts said on Tuesday. It is not unusual for money-market fund prices to fluctuate from their $1-per-share stable net asset […]

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U.S. SEC warns against illegal trading during coronavirus disruption

WASHINGTON () – The U.S. securities regulator on Monday warned corporate executives against insider trading during disruption caused by the coronavirus, in an unusual statement that underscores the chaos coursing through financial markets. FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. […]

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Prime money-market funds could slow redemptions as they bleed assets

BOSTON () – U.S. prime money-market funds have lost more than 10% of their assets and the prospect of funds slowing customer redemptions is rising amid unprecedented market turmoil, top credit-rating agency Moody’s Corp said on Thursday. “The risk of funds imposing liquidity fees or gates has risen over the last week and will remain […]

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Already retired, or close to it? How to think about volatility in perilous times

CHICAGO () – The breathtaking coronavirus-induced plunge of the stock market has unnerved retirement investors of all ages, but it poses special risks for people close to, or already retired. Unlike younger workers with many years ahead of earning and saving, older investors are less able to fall back on income from work and may […]

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Investor Ackman tweets to Trump: Close down the country

BOSTON () – Billionaire investor William Ackman, who has long worried about the serious risks posed by the novel coronavirus, called on the Trump administration on Wednesday to seal off the United States for a month in a bid to curb the outbreak. FILE PHOTO: William ‘Bill’ Ackman, CEO and Portfolio Manager of Pershing Square […]

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Stampede to get out: bond ETFs get crushed in selloff

LONDON () – A rush to sell global bonds in the past week has now rippled into the world of exchange-traded funds with some of the most actively traded seeing the most bulging gaps relative to the value of underlying holdings in years. Exchange-traded funds offer liquidity in different asset classes and have become in […]

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Your Money: As U.S. unemployment claims surge, know your status

NEW YORK () – Applications for unemployment insurance are skyrocketing across the United States. In Ohio, the number tripled from last week through Sunday, up to 12,000, according to the state’s governor. Calls to the Unemployment Law Project of Washington State shot up 150% in the last week, according to executive director John Tirpak. FILE […]

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Boaz Weinstein hedge fund up 33% after market plunge: letter

FILE PHOTO: Boaz Weinstein, founder and chief investment officer at Saba Capital Management, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 17, 2017. /Richard Brian NEW YORK () – Boaz Weinstein’s main Saba Capital Management LP hedge fund reported a 33% gain in March through Friday amid market turmoil and bringing its […]

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Your Money: Furloughed college students struggle financially

NEW YORK () – George Curtis is facing a severe financial crisis. Students carry boxes to their dorms at Harvard University, after the school asked its students not to return to campus after Spring Break and said it would move to virtual instruction for graduate and undergraduate classes, in Cambridge, Massachusetts, U.S., March 10, 2020. […]

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Bridgewater hedge funds post mixed results amid market turmoil

NEW YORK/BOSTON/LONDON () – Bridgewater Associates LP, the Ray Dalio-led hedge fund giant famous for making money during the 2008 financial crisis, has posted mixed returns amid the coronavirus-led market turmoil, according to an investor with direct knowledge of the performance. Bridgewater’s flagship hedge fund, Pure Alpha II, declined 2.4% over the first six days […]

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