SAC Capital Advisors LP’s Michael Steinberg became the fund’s longest-serving manager to be convicted of insider trading in a U.S. victory that may increase pressure on his accused one-time colleague, Mathew Martoma, to cooperate in the probe of founder Steven A. Cohen.
SAC Capital Advisors LP fund manager Michael Steinberg, after allegedly receiving inside information about technology stocks from his analyst, “gladly took it and traded on it,” a prosecutor said as the securities-fraud trial was set to go to the jury.
Mexico’s oceanside resorts and Mayan ruins are luring more visitors from abroad even as drug violence plagues parts of the country. The resurgence is spurring a wave of new investment in the hotel industry.
Tropical Storm Manuel may strengthen to a hurricane, bringing new flooding to Mexico, as the nation struggles to clean up after two storms that killed at least 80 people and trapped thousands of tourists in the resort city of Acapulco.
At a time when bond buyers are shunning junk, Hyatt Hotels Corp. and Farallon Capital Management LLC are trying to drum up financing for 13 all- inclusive beach resorts from Cabo San Lucas to Cancun with Latin America’s riskiest debt in three years.