News Update
Bernard Madoff exits the Manhattan federal court house in New York in this January 14, 2009 file photo. Reuters/Brendan McDermid/Files The trustee liquidating Bernard Madoff’s firm on Friday began distributing another $ 1.19 billion to victims of the swindler’s Ponzi scheme. Irving Picard, the trustee, said the payout will boost distributions to more than $ […]
Andre Esteves, CEO Brazilian BTG Pactual bank is pictured during an interview in Sao Paulo July 22, 2014. Reuters/Nacho Doce 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 […]
A ‘Wall St’ sign is seen above two ‘One Way’ signs in New York August 24, 2015. Reuters/Lucas Jackson U.S. central bankers not only regularly leak secret information about monetary policy, but the leaks are so predictably timed that a savvy investor without access to the leaked information could make money just by buying stocks […]
Vanguard Group agreed to make a payment to Texas tax authorities, a spokesman said on Friday, after a former company tax attorney complained about the fund company’s tax structure. The payment will be several million dollars, Bloomberg News reported, citing documents. Vanguard spokesman John Woerth declined to confirm the amount the closely held Pennsylvania company […]
Securities Investor Protection Act (SIPA) Trustee Irving Picard speaks as Manhattan U.S. Attorney Preet Bharara (L) looks on during a news conference in New York, December 17, 2010. Reuters/Shannon Stapleton Victims of Bernard Madoff’s Ponzi scheme can expect to soon receive about $ 1.42 billion to help cover their losses, after two U.S. judges on […]
Switzerland’s Banque Heritage said on Wednesday it would take on client assets from wealth manager Bank Hottinger, which regulators put into bankruptcy last month. The agreement is expected to be among a host of deals and closures in the Swiss banking industry, as an international crackdown on tax avoidance and costly regulation put pressure on […]
A DraftKings logo is displayed on a board inside of the DFS Players Conference in New York November 13, 2015. Reuters/Lucas Jackson New York state’s top prosecutor on Tuesday filed for a temporary injunction that would shut down daily fantasy sports leaders DraftKings and FanDuel in the state in the latest blow to the fast-growing, […]
A DraftKings logo is displayed on a board inside of the DFS Players Conference in New York November 13, 2015. Reuters/Lucas Jackson New York state’s top prosecutor on Tuesday filed for a temporary injunction that would shut down daily fantasy sports leaders DraftKings and FanDuel in the state in the latest blow to the fast-growing, […]
A DraftKings logo is displayed on a board inside of the DFS Players Conference in New York November 13, 2015. Reuters/Lucas Jackson New York state’s top prosecutor on Tuesday filed for a temporary injunction that would shut down daily fantasy sports leaders DraftKings and FanDuel in the state in the latest blow to the fast-growing, […]
Hedge fund Achievement Asset Management is shutting its doors after suffering losses on energy market bets this year, becoming the latest investment firm to return capital to clients in a year many managers have struggled to make money. The Chicago-based firm, run by Joseph Scoby, plans to return $ 875 million to clients by the […]
