MIAMI-- A $100 million lawsuit has been filed against a Florida billionaire over a 2012 helicopter crash in the Bahamas that killed a prominent tax attorney. The widow of attorney Lance Valdez filed the wrongful death suit Monday in Miami federal court against real estate magnate Jeffrey Soffer.» Read More
NEW YORK, July 22- The former chief executive of a bond insurer central to the fraud trial of one-time Goldman Sachs trader Fabrice Tourre said on Monday he was "pretty surprised" to learn billionaire John Paulson's hedge fund had bet against the mortgage deal at the center of the case.
Everyone has their own definition of what it means to be rich, but a new study from UBS has a cold, hard answer: $5 million—with at least $1 million of that in cold, hard cash.
*SEC had hoped to nail Cohen for insider-trading. The charges by the Securities and Exchange Commission against Cohen still fall short of what the SEC had hoped for.
"Faced with red flags of potentially unlawful conduct by employees under his supervision, Cohen allowed his traders to execute the recommended trades and stood by," the SEC said. In March, Cohen agreed to pay about $616 million to settle SEC probes into alleged insider trading at CR Intrinsic and Sigma.
NEW YORK, July 19- It was billed as the hottest trial to come out of the U.S. Securities and Exchange Commission's investigations of the financial crisis. But increasingly, the only thing hot about the SEC's fraud case against former Goldman Sachs trader Fabrice Tourre is the weather outside the Manhattan federal courthouse.
July 19- General Electric Co on Friday unveiled a surprise jump in its backlog of orders for dishwashers, X-ray machines and scores of other industrial products, boosting the conglomerate's shares and stoking hopes for gains in manufacturing around the world.
July 19- The charges against billionaire hedge fund manager Steven A. Cohen have "no merit" and Cohen will fight them "vigorously," said a spokesman for Cohen's firm SAC Capital Advisors in a statement to the media on Friday.
NEW YORK, July 19- The U.S. Securities and Exchange Commission voted on Thursday to reject a deal its enforcement division had struck with embattled hedge fund manager Philip Falcone and his hedge fund Harbinger Capital Partners, according to a regulatory filing by Falcone's publicly traded company Harbinger Group Inc..
His medical expertise and fascination with Wall Street ultimately led to a job at investment firm First Manhattan Co. There he has used them to inform a campaign to replace the leadership of Vivus Inc, a drugmaker whose handling of the launch of its diet pill Qsymia angered shareholders.
TOKYO/ SAN FRANCISCO, July 19- A director of Universal Entertainment Corp altered minutes of a meeting of executives at the Japanese gaming machine maker to show they had approved a $25 million payment that is under U.S. investigation as possible bribery, a report commissioned by the company says.
Last month, a wealthy Middle Eastern family paid $500,000 to charter a private jet. What was unusual was the way the family booked: through an Iphone app.
ROUND ROCK, July 18- Dell Inc postponed a shareholder vote on its CEO's $24.4 billion buyout offer to Wednesday after failing to get enough support to seal the deal, despite winning over several large investors at the eleventh hour.
ROUND ROCK, July 18- Dell Inc postponed a crucial vote on CEO Michael Dell's $24.4 billion buyout offer to July 24, buying time to solicit more proxy votes and drum up more support despite winning over several large swing shareholders at the eleventh hour.
LAUNCESTON, Australia, July 18- Ramping up output in the face of an expected easing in demand growth may seem like an odd tactic for a miner, but it's exactly what Rio Tinto and BHP Billiton are doing in iron ore.
NEW YORK, July 17- In an unprecedented move, the International Monetary Fund plans to ask the U.S. Supreme Court to review Argentina's case in a decade-old legal battle with holdout creditors, because of the implications it could have on sovereign debt restructurings.
July 17- Opposition to Michael Dell's bid to take his computer company private grew on Wednesday, and billionaire Carl Icahn argued Dell Inc had no right to delay a shareholder vote, even if the deal looked more likely to fail.
NEW YORK, July 17- Billionaire investor Carl Icahn, known for his strong-arm tactics in America's boardrooms, tried to bury the hatchet on Wednesday with a host of former rivals, including fellow hedge fund manager William Ackman.
July 17- Former Goldman Sachs Group Inc. director Rajat Gupta was ordered to pay a $13.9 million civil penalty and banned from serving as an officer or director of a public company for having illegally passed corporate secrets to former hedge fund manager Raj Rajaratnam, a top U.S. regulator said on Wednesday.
July 17- Prospects of Dell Inc founder Michael Dell and private equity firm Silver Lake taking the world's No. 3 PC maker private grew more uncertain on Wednesday, a day before a scheduled shareholder vote on their $24.4 billion offer.
July 17- Former Goldman Sachs Group Inc Director Rajat Gupta was ordered to pay a $13.9 million penalty and banned from serving as an officer or director of a public company for having illegally passed corporate secrets to former hedge fund manager Raj Rajaratnam, a top U.S. regulator said on Wednesday.