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Fortress Investment Group LLC

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  • LOS ANGELES, April 30- Tesla Motors Inc on Thursday unveiled Tesla Energy- storage systems or batteries for homes, companies and utilities that will expand its business beyond electric vehicles and tap into a fast-growing area of the energy industry. Tesla's lead installation partner for the home battery will be SolarCity Corp, the solar installer backed by...

  • LOS ANGELES, April 30- Tesla Motors Inc unveiled Tesla Energy- a suite of batteries for homes, businesses and utilities- a highly-anticipated plan to expand its business beyond electric vehicles. The goal is complete transformation of the energy infrastructure of the world, "Chief Executive Elon Musk told media at Tesla's design studio at Hawthorne, California...

  • Tesla hunts for new revenue in home storage batteries Thursday, 30 Apr 2015 | 2:48 PM ET

    LOS ANGELES, April 30- Tesla Motors Inc shares slipped Thursday after a month-long surge ahead of Chief Executive Elon Musk's expected announcement that the money-losing electric luxury car maker will seek new revenues from batteries for storing electricity at homes and businesses. Musk and other Tesla officials have dropped a series of broad hints over...

  • April 28- A federal judge on Tuesday dismissed a lawsuit by Philip Falcone's Harbinger Capital Partners that accused satellite TV company Dish Network Corp and its chairman, Charles Ergen, of illegally trying to strip the hedge fund of control of the bankrupt wireless company LightSquared. District Judge William Martinez in Denver came after LightSquared...

  • His testimony came as the defense sought to show that any losses Fannie Mae and Freddie Mac suffered on the $2 billion in securities at issue were caused not by any false statements the banks made but by the collapse in the housing market. Mudd, who left Fannie Mae in 2008 following its government takeover, told a lawyer for Nomura that macroeconomic factors,...

  • NEW YORK, March 30- A federal judge on Monday dismissed a lawsuit accusing Philip Falcone and his Harbinger Capital Partners LLC of misleading investors by taking a majority stake in wireless company LightSquared Inc without disclosing the investment or its risks. Once known as SkyTerra Communications Inc, LightSquared filed for bankruptcy protection in...

  • NEW YORK, March 26- Wireless venture LightSquared on Thursday concluded three years of litigation with creditors, securing U.S. Bankruptcy Court approval of a plan to end its Chapter 11 case and repay in full its largest creditor, Dish Network Corp Chairman Charles Ergen. Under the plan greenlighted by Judge Shelley Chapman in U.S. Bankruptcy Court in New York,...

  • NEW YORK, March 18- Bankrupt wireless venture LightSquared has filed a new restructuring plan that would pay the full $1.5 billion claim of its largest creditor, Dish Network Corp Chairman Charles Ergen, in cash, with interest. The plan, filed late on Tuesday and outlined on Wednesday morning in court papers in U.S. Bankruptcy Court in Manhattan, depends on $1.515...

  • NEW YORK, March 17- Cerberus Capital Management and Solus Alternative Asset Management on Tuesday proposed a new plan to restructure bankrupt wireless venture LightSquared, with the support of billionaire Charles Ergen, LightSquared's largest lender. The plan is designed to compete with a LightSquared-backed one whose fairness is the subject of an...

  • March 12- Ride-sharing service Lyft said it raised an additional $530 million in a funding round led by Japanese online retailer Rakuten Inc, giving the Uber rival a valuation of $2.5 billion and adding momentum to its expansion plans. Rakuten said it is investing $300 million for an 11.9 percent stake in San Francisco- based Lyft- its first investment in a...

  • NEW YORK, March 9- A lawyer for LightSquared on Monday said the company will set aside $400 million to give certain bankruptcy lenders, including Dish Network Corp Chairman Charles Ergen, the option to take a portion of their repayment in cash instead of notes. LightSquared, owned by Phil Falcone's Harbinger Capital Partners, was planning a massive wireless...

  • NEW YORK, March 6- LightSquared gained momentum this week in its effort to end its three-year bankruptcy after a judge dealt a blow to its main creditor and adversary, Charles Ergen, ahead of a week-long trial on its latest debt restructuring plan. LightSquared, the would-be wireless provider owned by Phil Falcone's Harbinger Capital Partners hedge fund, on...

  • *Sale a major step in Citi's plan to sell unwanted assets. Springleaf shares touch record high, Citi marginally higher. March 3- Springleaf Holdings Inc said it would buy Citigroup Inc's OneMain Financial Holdings Inc for $4.25 billion in cash, creating the largest subprime lender in the United States.

  • Key Fortress fund stumbles, but cash keeps coming Friday, 27 Feb 2015 | 3:03 PM ET
    Michael Novogratz, principal at Fortress Investment Group

    Problems with a small but high-profile macro hedge fund belie Fortress managing more money than ever.

  • Wall Street eyes mostly weak data Thursday, 26 Feb 2015 | 8:41 AM ET
    Trader on the floor of the New York Stock Exchange.

    U.S. futures trimmed gains on mostly weak U.S. data but still signaled a mildly higher open as investors welcomed comments from Yellen's speech.

  • MILAN, Feb 12- UniCredit has signed a deal to sell its UCCMB bad loan management unit and a pool of non-performing loans to U.S. investment firm Fortress Investment Group, as the Italian bank sheds non-core assets to boost its balance sheet. UniCredit said on Thursday the bad loan portfolio being sold had a gross book value of 2.4 billion euros.

  • BOSTON, Jan 28- Two executives at hedge fund Fortress Investment Group are leaving the firm after its macro fund suffered heavy losses in the wake of recent currency market upheaval, three sources familiar with the moves said. Sweillam has been with Fortress since 2013, and his duties will be taken up by global head of trading Timothy Durnan, the sources said.

  • Private equity, hedge fund stocks to outperform? Monday, 12 Jan 2015 | 10:04 AM ET
    Pedestrians walk outside an E*Trade Financial office in New York.

    Major investment banks and money center banks are not the best way to play Wall Street's success six years into a bull market, JMP Securities said.

  • The highly effective habits of superinvestors Tuesday, 2 Dec 2014 | 7:29 AM ET
    Wealth wealthy

    Research shows that the wealthy investor with $10 million in investable assets has highly concentrated holdings and less than 25% in stocks.

  • Jilted hedge funds even more in love with Japan Friday, 21 Nov 2014 | 11:08 AM ET
    Michael Novogratz

    Despite recent ups and downs, hedge funds are now more in love with Japan than at any time in the last decade.