Soros is founder of the Quantum Fund, long one of the world's largest hedge funds. In mid-2011, Soros said he would return money to his outside investors and turn Soros Fund Management into a family office to manage his personal fortune. It also handles the multibillion-dollar endowments of his philanthropic organizations and those of his relatives.
U.S. stocks snapped a five-day streak of gains, commodities fell and the dollar slid as data showed the American economy grew less than forecast. Treasuries rose, pushing 10-year yields down the most in two weeks.
Myron Ullman has another item on his to-do list as he tries to revive J.C. Penney Co.: dealing with litigation alleging the department-store chain didn’t pay for store upgrades ordered by predecessor Ron Johnson.
J.C. Penney Co., the retailer working to rebound after its worst sales year in more than two decades, continues to shake up management with the departure of three senior executives from its construction unit.
Denmark’s fifth-largest mortgage lender, with a market share of about 5 percent, wants to be named too big to fail as the industry seeks a single rule book to avoid any contagion effect if a bank collapses.
Investors have pushed more than 120 public companies in the U.S. to reveal previously confidential details of their political spending even as regulators remain deadlocked over whether to mandate such disclosures.
The last time Masao Namiki bought machinery for his company, Emperor Hirohito had just died, Japanese investors took the Rockefeller Center as a trophy, and a new central bank chief was about to prick the bubble economy. It was 1989.
For years, gold's allure grew as the metal's price smashed through record after record. That put many financial advisers in the position of trying to dissuade clients from investing in the stuff. "I see no purpose in gold," says Sheryl Garrett, founder of the Garrett Planning Network. "I would rather own pretty much anything."