Platform Specialty Products Corp., a chemicals company co-founded by billionaire Nicolas Berggruen and backed by hedge fund manager Bill Ackman, agreed to buy Chemtura Corp.’s agrochemicals business for about $1 billion.
U.S. stocks rebounded from the worst weekly losses in two years, weathering a selloff at the start of the final hour, after data showed retail sales increased the most since 2012 and Citigroup Inc. earnings unexpectedly rose.
Herbalife Ltd., the company that hedge fund manager Bill Ackman has accused of being a pyramid scheme, is being probed by the Federal Bureau of Investigation, according to a person familiar with the matter.
U.S. stocks sank, extending the Standard & Poor’s 500 Index’s worst two-day drop since June, amid disappointing results at JPMorgan Chase & Co. and signs hedge funds were dumping the bull market’s best performers.
Fidelity Investments, the second- largest mutual fund company, is exploring the creation of a U.S. stock trading venue along with other investors to address perceived flaws in the $23 trillion U.S. equity market.
Consumer activist Ralph Nader and a free-market group whose funders include billionaires Charles and David Koch are part of a growing crowd urging the Senate to preserve value for investors in Fannie Mae and Freddie Mac.