- BusinessBusiness Insider•20 hours ago
About a year before Sanjay Valvani's wife found him dead inside his Brooklyn Heights home, the star money manager learned he was under investigation for insider trading. Valvani drove profits at Visium Asset Management, an $8 billion New York hedge fund that had been on the rise.
- BusinessThe Street•2 days ago
Prospects that Sears Holdings (SHLD) could be bankrupt within two years soon could send investors in real estate investment trust (REIT) Seritage Growth Properties (SRG) running for the exit. Shares in Seritage are up about 28% this year even amid signs that the REIT, spun off from Sears last year to raise about $2.7 billion in cash, could face serious cash-flow problems if Sears goes under. The latest questions about Sears' viability arrived on Wednesday, when Fitch Ratings said the company posed "significant default risk" within the next 12 to 24 months due to years of weak store traffic and high levels of debt. At issue for Sears, which is battling declining cash flow amid a prolonged stretch of losses, is repaying some $2.8 billion in high yield bonds and institutional term loans coming due in the next few years.
- financeBloomberg•9 hours ago
A Jack Nicklaus-designed golf course in South Korea was picked Friday as the new site for a U.S. missile system aimed at defending the country from any North Korean attack.