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  • The meeting raised the possibility of rare joint action with OPEC, of which Russia is not a member, because of a global oil glut but Kremlin spokesman Dmitry Peskov has said there is "nothing to talk about in a tangible sense" for now. The final decision will lie with Putin but Sechin's input is likely to be crucial as Russia considers acting in tandem with OPEC for the...

  • *China's main indexes have lost $2 trillion in 2016. *People's Daily says market ructions do not reflect economy. SHANGHAI, Jan 28- China's volatile shares tumbled again on Thursday, taking losses this month to about 25 percent or 13 trillion yuan, while state media insisted that the market ructions did not reflect the real economy.

  • SAO PAULO, Jan 28- Debt restructuring firms are poised to pull in record amounts of business in Brazil this year as the country's worst recession in decades and a corruption probe that has cast a shadow over dozens of companies leads to a surge in defaults. Scenting an opportunity, U.S. restructuring shops including FTI Consulting Inc, Houlihan Lokey Inc, and...

  • *China's main indexes have lost $1.8 trillion in 2016. *People's Daily says market ructions do not reflect economy. SHANGHAI, Jan 28- China's volatile shares were lower again on Thursday, taking losses this month to about 23 percent or 12 trillion yuan, while state media insisted that the market ructions did not reflect the real economy.

  • Many big-money clients- representatives of wealthy families, endowments and private investment firms in New York, London and Geneva- came to the Morgan Stanley Hedge Fund Forum at the $1,000- a-night Breakers Palm Beach resort in a sour mood, hurt by their hedge fund investments last year and so far in January. The Breakers gathering, in its 18th year, once again...

  • Man charged with seed corn theft conspiracy pleads guilty Wednesday, 27 Jan 2016 | 6:01 PM ET

    DES MOINES, Iowa— A naturalized U.S. citizen from China entered a plea agreement with federal prosecutors Wednesday, admitting he participated in a conspiracy to steal seed corn from U.S. companies. Mo Hailong, a lawful and permanent resident of the United States, was living in Florida when he was arrested in December 2013. He is accused of traveling to the Midwest...

  • BOSTON, Jan 27- Billionaire investor Bill Ackman's Pershing Square Holdings lost 11.2 percent since the start of the year, beginning 2016 with the same kind of double-digit losses that plagued the fund in 2015.. But there is a small silver lining for Ackman and investors in his $14 billion hedge fund: Losses have eased modestly from the previous week, when the...

  • Losses, regrets and questions at companies Trump endorsed Wednesday, 27 Jan 2016 | 2:51 PM ET

    NEW YORK— Six years ago, Donald Trump stood before 5,000 people in a hotel theater in downtown Miami and informed them he had a rescue and recovery plan for the recession-battered nation. It was a multi-level marketing company, like Avon, Amway and Mary Kay. "We're all going to be successful together," Trump declared enthusiastically about the business that had just...

  • Coal executive demands tax break for industry in free fall Wednesday, 27 Jan 2016 | 12:24 PM ET

    West Virginia already expects a $384 million gap this budget year and a $466 million gap in 2017, largely because coal and natural gas severance tax dollars have fizzled. Murray says West Virginia needs to help its coal industry compete against states like Pennsylvania that don't apply severance taxes. Murray Energy's operations are in West Virginia,...

  • JERUSALEM, Jan 27- A new app that allows users to send anonymous text messages is causing alarm among parents, politicians and some teenagers, who say it is being used as a weapon for cyber-bullying. Blindspot, launched by Israeli company Shellanoo, has attracted 700,000 users since it was launched a month ago, mostly in Israel where it is being heavily marketed but...

  • Ackman admits mistakes after huge 2015 losses Wednesday, 27 Jan 2016 | 8:44 AM ET
    Bill Ackman

    Billionaire investor Bill Ackman told investors that he made mistakes last year in not cutting two big positions.

  • HOUSTON, Jan 27- Three major U.S. shale oil companies have slashed their 2016 capital spending plans more than expected in a bid to survive $30 a barrel oil prices, with one of them saying prices would need to rise more than 20 percent just to turn a profit. The cuts on Monday from Hess Corp, Continental Resources and Noble Energy ranged from 40 percent to 66 percent.

  • China's yuan firms on stronger midpoint setting Tuesday, 26 Jan 2016 | 11:15 PM ET

    SHANGHAI, Jan 27- China's yuan edged up against the dollar on Wednesday after the central bank set a firmer midpoint and state media warned billionaire investor George Soros against betting on falls in the Chinese currency and Hong Kong dollar. The People's Bank of China set the midpoint rate at 6.5533 per dollar prior to market open, 0.02 percent firmer than the...

  • BOSTON, Jan 26- Sitting on a double-digit loss that is the deepest in his firm's history, billionaire investor Bill Ackman on Tuesday told investors that he made mistakes last year in not cutting two big positions but said he sees plenty of new investment opportunities. Ackman, whose Pershing Square Capital Management lost between 16 percent and 20 percent in...

  • BOSTON, Jan 26- Sitting on a double-digit loss that is the deepest in his firm's history, billionaire investor Bill Ackman on Tuesday told investors that he made mistakes last year in not cutting two big positions but said he sees plenty of new investment opportunities.

  • SAO PAULO, Jan 26- Eldorado Brasil SA, the pulp producer controlled by Brazil's billionaire Batista family, is considering selling bonds or equity for the first time should market conditions turn favorable, Chief Executive Officer José Carlos Grubisich said on Tuesday. While access to international debt markets this year looks "certain" for Eldorado because...

  • Bearish views abound at elite hedge fund conference Tuesday, 26 Jan 2016 | 5:00 PM ET

    Professional money managers gathered at an elite Morgan Stanley investment conference in Palm Beach, Florida this week expressed a range of pessimistic market views, including so-called bearish takes on the energy sector, China, and stocks such as Valeant Pharmaceuticals and SolarCity. Another topic of negative views was China. Jim Chanos of Kynikos...

  • Jan 26- French telecoms billionaire Xavier Niel's Iliad could seek to enter the British market if the planned acquisition of O2 UK by local rival network operator Three creates an opening, a person familiar with the situation said. Iliad's interest in Britain, first reported by the Financial Times, would depend on the outcome of the European Commission's...

  • Jan 26- American International Group Inc said it would spin off its mortgage insurance unit, cut jobs and sell its broker-dealer network as part of a sweeping overhaul promised to shareholders to fend off activist investor Carl Icahn. The insurer said in a statement on Tuesday that it plans to cut $1.6 billion of costs and return at least $25 billion to...

  • LONDON, Jan 26- Norwegian-born billionaire John Fredriksen has teamed up with investment bank Arctic Securities to form a ship broking company aimed at taking on bigger rivals and betting on a recovery in the global shipping market. Fredriksen, via his family's investment company Geveran Trading Co, and Oslo-headquartered Arctic Securities said on Monday...