Hedge funds, once reserved for the very wealthy, are being marketed to a broadening range of investors with a sophisticated sales pitch: Because the funds’ ups and downs don’t coincide with those of stocks and bonds, adding them to a portfolio will help maintain returns while reducing nerve-racking gyrations.
Three former Duke University lacrosse players, falsely accused of rape in a case that cost a district attorney his law license, can move forward with part of their claims against the former prosecutor and the city of Durham, North Carolina, a judge ruled.
Seagate Technology, the world’s largest maker of hard disk drives, is based in Scotts Valley, California. Yet the documents it files with the Securities and Exchange Commission list its address on South Church Street in George Town, the capital of the Cayman Islands, David Evans of Bloomberg News reports.
Sinovel Wind Group Co., the world’s second-biggest wind-turbine maker, said American Superconductor Corp. is seeking more than 37.9 million yuan ($6 million) for software copyright violations in a claim filed at the Beijing First People’s Court.
In May 2008, a unit of Koch Industries Inc., one of the world’s largest privately held companies, sent Ludmila Egorova-Farines, its newly hired compliance officer and ethics manager, to investigate the management of a subsidiary in Arles in southern France. In less than a week, she discovered that the company had paid bribes to win contracts.
Raising taxes on tobacco and alcohol and introducing a levy on foreign exchange transactions could help pay for health-care for millions of people worldwide who can’t get or afford it, the World Health Organization said.