Citigroup Prop-Trading Unit Head Carpenter Departs for Moore Capital Matthew Carpenter, head of a Citigroup Inc. unit that trades U.S. stocks using the bank’s own money, quit to join hedge fund Moore Capital Management LP amid concern the government may order banks to exit such businesses, people briefed on the matter said.
State Street to Pay Investors $313 Million After SEC Sues Over Bond Loss State Street Corp. agreed to pay $313 million to settle allegations by regulators that it helped some investors get out of a bond fund saddled with risky mortgages, leaving others to shoulder the losses.
Rap Artist Jay-Z Sues Highland Capital Management Over Loan Guarantees Shawn Carter, the rap music artist and Rocawear clothing business founder known as Jay-Z, sued the investment firm Highland Capital Management LP in a dispute over loan guarantees.
TCW Distressed Debt Funds Said to Cut Management Fees After Gundlach Exit TCW Group Inc. slashed fees on two distressed-debt funds with about $3 billion in assets to appease investors after the ouster of former investment chief Jeffrey Gundlach, according to two people familiar with the matter.
Roubini Says Dollar to Decline Against Asian, `Commodity’ Currencies, Real Nouriel Roubini, the New York University professor who predicted the credit crisis, expects the dollar to weaken against Asian and “commodity” currencies such as the Brazilian real over the next two or three years.
Buffett Stripped of His Last AAA Rating as S&P Downgrades Berkshire’s Debt Warren Buffett’s Berkshire Hathaway Inc. was stripped of its last AAA credit rating by Standard & Poor’s after the billionaire investor agreed to buy railroad Burlington Northern Santa Fe Corp.
Goldman Fund, Founder of Malaysia’s KNM Make $1 Billion Takeover Offer A Goldman Sachs Group Inc. private equity fund joined the founder of KNM Group Bhd. in a takeover bid that values the Malaysian oil and gas services provider at about $1 billion.
Nassim Taleb Says Betting on Decline in Treasuries Market Is `No Brainer’ Nassim Nicholas Taleb, author of “The Black Swan,” said “every single human being” should bet U.S. Treasury bonds will decline, citing the policies of Federal Reserve Chairman Ben S. Bernanke and the Obama administration.
Law School Dropout Turned Billionaire Seeks Biggest Mining IPO Since 2007 Billionaire Clive Palmer, a law school dropout who made his first fortune from real estate on Australia’s Gold Coast, is driving what may be the biggest initial share sale of a mining company since 2007.