Galleon Case Defendant Told Judge He Was Tipped by `Several Individuals’ Steven Fortuna, a hedge-fund manager who pleaded guilty and is helping prosecutors in an insider- trading probe of the industry, said he was tipped by “several individuals” at other funds, according to a court transcript.
Bear Stearns Case Jury Begins Deliberations in Cioffi, Tannin Fraud Trial Jurors in the securities fraud prosecution of former Bear Stearns Cos. hedge-fund managers Ralph Cioffi and Matthew Tannin began deliberations following a month-long trial, one of the first tests of whether the U.S. can prove criminal conduct in the subprime mortgage collapse.
Axa, AMP $10 Billion Bid May Kick Off Resurgence in Insurance Acquisitions Axa SA’s decision to team with AMP Ltd. in a $10 billion bid to buy out its Asian unit may signal a pick-up in mergers among insurers as economies improve and bailed-out financial institutions prepare to sell assets.
Tishman BlackRock Near Restructuring or Sale of New York’s Stuyvesant Town Tishman Speyer Properties LP and BlackRock Realty, the owners of Manhattan’s Stuyvesant Town- Peter Cooper Village, moved closer to restructuring $3 billion in debt on the apartment complex as the property verges on default, Fitch Ratings said.
Stock Rally Just Getting Started in History of Period Preceding Rate Rises U.S. stocks extended a global rally and the dollar slid after the Group of 20 nations agreed to maintain economic stimulus efforts. Commodities climbed, sending gold to a record above $1,100 an ounce. Treasuries gained.
Tiger Woods Draws JBWere Sponsorship in First Australian Trip For a Decade Tiger Woods’s first trip Down Under since 1998 has drawn JBWere as sponsor of the Australian Masters as the wealth manager seeks to attract new funds following its acquisition this month by National Australia Bank Ltd.
MSCI Emerging-Markets Index May Rise 28% by End-2010, Morgan Stanley Says Emerging-market stocks may rise 28 percent by the end of 2010, with gains slowing from this year’s pace amid concern interest rates and oil prices will increase, according to Morgan Stanley.
K1’s Kiener Says Prosecutors Used `Unfounded’ Barclays Claims in Arrest Helmut Kiener, the K1 Group hedge- fund founder, accused German prosecutors of relying on “unfounded” allegations made by Barclays Plc before his arrest on suspicion of fraud last month.
Northrop’s Unit Sale to KKR, General Atlantic Shows Buyout Firms Return KKR & Co. and General Atlantic LLC agreed to pay $1.65 billion for a government-consulting unit that Northrop Grumman Corp. is selling to comply with new conflict-of-interest regulations.