Charles Murphy's Fairfield Greenwich fund had invested more than $7 billion with Madoff before it became known that Madoff was running a Ponzi scheme.
Toshiba Corp's U.S. nuclear unit Westinghouse filed for Chapter 11 protection from creditors on Wednesday, just three months after huge cost overruns were flagged, as the Japanese parent seeks to limit losses that threaten its future. Bankruptcy will allow Pittsburgh-based Westinghouse, once central to Toshiba's diversification push, to renegotiate or even break its construction contracts, though the utilities that own the projects could seek damages. For Toshiba, the aim is to fence off soaring liabilities and keep the group afloat.
Homebuyers are trickling back into the mortgage market, but not enough to offset the steep and steady drop in refinance business.
Two major catalysts make Apple a great bet right now, according to the widely followed Apple watcher.
WASHINGTON (AP) — Chinese President Xi Jinping will meet with President Donald Trump the first full week of April, a senior State Department official said Tuesday.
It is no wonder that General Motors' investors are frustrated. While the US's biggest...
The tech titan reveals strategies any professional can use to make and save more money.
Sears is soaring today, and there is, thankfully, an obvious reason (I hate when there isn't one). In this case, it's the news that Bruce Berkowitz's Fairholme Capital Management bought 286,000 shares of the stock from March 23 to March 27, following CEO Eddie Lampert's purchase of more than 500,000 last week. Lampert and Berkowitz each own nearly 30% of Sears, according to Bloomberg data, while RBS Partners, a hedge fund managed by Lampert's ESL Investments, owns another 19%.
"Halftime Report" regular Pete Najarian is tracking the options market for signs of unusual trading.
Equities are facing a "quite high" risk of correction but it won't derail the bull market, says the chief global equities strategist at Goldman Sachs.
General Electric (GE) has had an earnings problem. Not the numbers themselves, but the way they report them. Last year, MarketWatch's Tomi Kilgore noted that General Electric had reported four different ...
When Weatherford International (WFT) announced that it had named Halliburton (HAL) CFO Mark McCollum its new CEO, its shares jumped as some observers contended it increased the odds of an acquisition by the oil-services giant. It looks like they picked the wrong oil-services giant, however, as Weatherford and Schlumberger (SLB) announced a joint venture late Friday, one that has sent Weatherford's shares soaring and earned it an upgrade from Wells Fargo analysts Judson Bailey and Coleman Sullivan.
India plans to adopt a regional-based model for consolidating its bloated public-sector banks, the chairman of its Banks Board Bureau said on Tuesday. "We have to plan a model for consolidation which will be region-based so that we have a few strong banks in the west, north, south and east," Vinod Rai said. Rai was speaking at the annual Credit Suisse Asian investment conference in Hong Kong.
Ever since Donald Trump began railing against undocumented immigrants at the beginning of his presidential campaign, so-called “sanctuary cities” have been a target of some of his strongest condemnation. Attorney General Jeff Sessions, himself a strong supporter of tougher immigration laws, announced that the Department of Justice would deny grants administered through its Office of Justice Programs to jurisdictions that do not comply with 8 USC 1373.
NEW YORK (AP) — Tech billionaire Elon Musk is announcing a new venture called Neuralink focused on linking brains to computers.
Jim Cramer shares his thoughts on JP Morgan's bullish call that Estee Lauder stock is headed for $100.
Bond Market Update from Briefing.com
When WikiLeaks founder Julian Assange disclosed earlier this month that his anti-secrecy group had obtained CIA tools for hacking into technology products made by U.S. companies, security engineers at Cisco Systems swung into action. The Wikileaks documents described how the Central Intelligence Agency had learned more than a year ago how to exploit flaws in Cisco's widely used Internet switches, which direct electronic traffic, to enable eavesdropping. Senior Cisco managers immediately reassigned staff from other projects to figure out how the CIA hacking tricks worked, so they could help customers patch their systems and prevent criminal hackers or spies from using the same methods, three employees told Reuters on condition of anonymity.
Stocks opened flat as investors watched out for any new developments regarding the White House's agenda and braced for remarks from top Fed officials.