Hedge fund Fir Tree puts $410 million dislocation fund to work
BOSTON (Reuters) - After years of waiting and watching from afar, hedge fund Fir Tree Partners is spending $410 million from its dislocation funds on stocks, pockets of the credit market and other securities, sure the historic market sell-off made new bargains.
Your Money: The one document Americans need now - Power of attorney
NEW YORK (Reuters) - If you live in the United States and really want to be prepared for coronavirus, experts say you need a fully executed power of attorney, which designates a trusted person to take over your finances should you become incapacitated.
Column: How the $2 trillion U.S. coronavirus relief bill impacts retirement savers
CHICAGO (Reuters) - The $2 trillion economic stimulus package racing toward passage in the U.S. Congress contains several important relief provisions for retirees, and for younger workers saving for retirement.
Ackman says TV interview did not lead to profit on trades
BOSTON (Reuters) - Billionaire investor William Ackman said a CNBC television interview he gave last week was not designed to profit from any trades, dismissing some media speculation he had purposely pushed markets lower to make money off his hedges.
Settlement talks between First United, Driver Management break down
BOSTON (Reuters) - Talks between First United Corp and Driver Management to settle a fight for board seats at the bank holding company broke down when the activist investor rejected the offer, two sources familiar with the matter said on Thursday.
U.S. cruise line company Lindblad names directors backed by ValueAct to its board
BOSTON (Reuters) - Lindblad Expeditions on Thursday said it named two independent directors backed by activist investment firm ValueAct Capital, which owns a nearly 10% stake in the adventure cruise company, to its board.
Pay for cleaners, babysitters and dogwalkers hangs in the balance
NEW YORK (Reuters) - Lily Reiche has lost nearly half of her dogwalking clients in Los Angeles because of California's coronavirus stay-at-home order. Of the 40 or so accounts at My Dog Spot, which dried up because people are either working from home or have lost income, just five clients are continuing to pay.
New CEO pay limits loom as investors confront coronavirus crisis
BOSTON/LONDON (Reuters) - The havoc wrought by the coronavirus crisis could give investors leverage to put new limits on CEO pay packages and link them more closely to a range of social and environmental issues at companies' annual meetings this spring.
Some U.S. wealth advisers tell clients to stay put as markets fall
NEW YORK (Reuters) - The deepest U.S. stock market sell-off since the 2008 financial crisis is prompting some financial advisers to tell wealthy clients to hold steady or even increase their equity exposure if they have at least 10 years until retirement.
U.S. SEC warns against illegal trading during coronavirus disruption
WASHINGTON (Reuters) - The U.S. securities regulator on Monday warned corporate executives against insider trading during disruption caused by the coronavirus, in an unusual statement that underscores the chaos coursing through financial markets.