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  • SAO PAULO, Dec 3- U.S. buyout firm Cerberus Capital Management LP has shown preliminary interest in Grupo BTG Pactual SA's stake in debt collection company Recovery do Brasil, which the embattled Brazilian investment bank wants to sell to raise cash, a person with direct knowledge of the matter said on Thursday. BTG Pactual, Latin America's largest independent...

  • SAO PAULO, Dec 3- U.S. buyout firm Cerberus Capital Management LP has shown preliminary interest in Grupo BTG Pactual SA's stake in debt collection company Recovery do Brasil, which the embattled Brazilian investment bank wants to sell to shore up capital, a person with direct knowledge of the matter said on Thursday. Latin America's largest independent...

  • NEW YORK, Dec 2- A cooperating witness in a long-running U.S. investigation into insider trading at hedge funds including SAC Capital Advisors was sentenced to 21 days in prison on Wednesday, a term his lawyer called "unfair" given his assistance to authorities. Richard Choo-Beng Lee, who co-founded Spherix Capital and once was an analyst at SAC Capital, was also...

  • NEW YORK, Dec 2- A cooperating witness in a long-running U.S. investigation into insider trading at hedge funds including SAC Capital Advisors was sentenced to 21 days in prison on Wednesday, a term his lawyer called "unfair" given his assistance to authorities. Richard Choo-Beng Lee, who co-founded Spherix Capital and once was an analyst at SAC Capital, was also...

  • Dec 2- Mario Gabelli, who is the second-largest voting shareholder in Viacom Inc, is calling for the media company to disclose the mental competence of its executive chairman, Sumner Redstone, the billionaire value investor told Reuters on Wednesday. Gabelli left a message for someone at the company about the issue on Tuesday, he said, declining to say whom he...

  • Hedge fund investors keep the faith in macro bet Wednesday, 2 Dec 2015 | 12:03 PM ET

    LONDON/ NEW YORK, Dec 2- A weak overall performance for hedge funds which bet on macroeconomic trends this year has not stopped some investors from gearing up to trust them with their money in 2016.. Notable closures were the main macro fund at Fortress Investment Group, a $1 billion fund at the world's biggest asset manager, BlackRock, and Bain Capital's $2.2...

  • SAN FRANCISCO, Dec 1- Mark Zuckerberg will put 99 percent of his Facebook Inc shares, currently worth about $45 billion, into a new philanthropy project focusing on human potential and equality, he and his wife said Tuesday in a letter to their newborn daughter. The plan, which was posted on the Facebook founder and chief executive officer's page and has attracted...

  • SAN FRANCISCO, Dec 1- Mark Zuckerberg will put 99 percent of his Facebook Inc shares, currently worth about $45 billion, into a new philanthropy project focusing on human potential and equality, he and his wife said in a letter addressed to their newborn daughter. The plan, which was posted on the Facebook founder and Chief Executive's page, and has attracted more...

  • BOSTON, Dec 1- Billionaire investor William Ackman's Pershing Square Capital Management hedge fund lost 2 percent in November and ended the first 11 months of the year with a 17 percent loss, a person familiar with the number said. But on Tuesday, a nearly 10 percent rise in the stock of Valeant Pharmaceuticals, Ackman's biggest holding, helped pare the decline,...

  • LONDON, Dec 1- BlueCrest Capital Management, the $8 billion hedge fund firm founded by billionaire Michael Platt, is returning all the cash provided by outside investors amid pressure on fees, rising costs and a lackluster performance. The decision, which follows an exodus of capital in recent years and disappointing returns relative to some rivals, is a shock...

  • SYDNEY, Dec 1- Australia's Roy Hill iron ore mine is set to ship its first cargo, marking the start up of the last of the mining-boom era mega projects in Australia. Iron ore prices have slumped more than 75 percent since construction of the mine began four years ago in partnership with South Korean steelmaker POSCO, Japan's Marubeni Corp and Taiwan's China Steel...

  • Slim's America Movil loses top spot on Mexico index Monday, 30 Nov 2015 | 9:35 PM ET

    MEXICO CITY, Nov 30- Billionaire Carlos Slim's telecommunications giant America Movil is set to be knocked off its perch as the top-weighted company on Mexico's benchmark stock index, after a quarterly rebalancing that takes effect on Tuesday. The firm reported its first quarterly loss in 14 years last month due to a sharp depreciation in Latin America's...

  • SAO PAULO, Nov 30- Grupo BTG Pactual SA looked to new leadership to steer it out of crisis on Monday after controlling shareholder André Esteves resigned as CEO and chairman following his jailing as part of Brazil's sweeping corruption probe. Shares and bonds in Latin America's largest independent investment bank plummeted, reflecting concerns about the...

  • NEW YORK, Nov 30- Russia has banned a pro-democracy charity founded by hedge fund billionaire and philanthropist George Soros, saying it posed a threat to both state security and the Russian constitution. In a statement released on Monday, Russia's General Prosecutor's Office said two branches of Soros' charity network- the Open Society Foundations and the...

  • SAO PAULO, Nov 30- Brazil's Grupo BTG Pactual SA looked to new leadership to steer it out of crisis on Monday after controlling shareholder André Esteves resigned as CEO and chairman following his jailing as part of the country's sweeping corruption probe. Shares and bonds in Latin America's largest independent investment bank plummeted, reflecting...

  • *BTG Pactual Commodities has only modest physical assets. LONDON, Nov 30- Brazil's Grupo BTG Pactual SA is reviewing its assets and may sell part of its commodities unit to raise capital after the arrest of the bank's chief executive, a source familiar with the matter said on Monday. The bank is now seeking to shore up its balance sheet, after Esteves' arrest prompted...

  • SAO PAULO, Nov 30- André Esteves, the Brazilian billionaire financier who was arrested last week in a sweeping corruption investigation, tried to turn Grupo BTG Pactual SA into the largest independent investment bank in emerging markets. The same year, they bought back Banco UBS Pactual SA from UBS Group AG, merging the units into Grupo BTG Pactual SA.

  • SAO PAULO, Nov 30- Brazilian financier André Esteves resigned as chief executive officer and chairman of Grupo BTG Pactual SA late on Sunday after he was jailed as part of a corruption probe rapidly ensnaring Latin America's largest independent investment bank. Prosecutor General Rodrigo Janot used evidence and testimony from others under investigation...

  • SAO PAULO, Nov 30- Brazilian financier André Esteves resigned as chief executive and chairman of Grupo BTG Pactual SA late on Sunday after he was jailed as part of a corruption probe rapidly ensnaring Latin America's largest independent investment bank. Prosecutors are preparing to file charges against the billionaire dealmaker, who they suspect, along...

  • SAO PAULO, Nov 30- Brazilian financier André Esteves resigned as chief executive and chairman of Grupo BTG Pactual SA late on Sunday after he was jailed as part of a corruption probe rapidly ensnaring Latin America's largest independent investment bank. It is the first time the bank has been directly implicated in the bribery scandal and the paper said...