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.
The growing risk of default by Shanghai Chaori Solar Energy Science & Technology Co. may become China’s “Bear Stearns moment,” prompting investors to reassess credit risks as they did after the U.S. securities firm was rescued in 2008, according to Bank of America Corp.
Four companies pulled domestic bond sales and yields on speculative-grade debt jumped the most since November after Shanghai Chaori Energy Science & Technology Co. warned of what would be China’s first onshore default.
This time last year, the chairman and chief executive officer of Israel’s Teva Pharmaceutical Industries Ltd., the world’s biggest generic drugmaker, were foreigners. Miami billionaire Phillip Frost led the board and Jeremy Levin, a South African, was CEO. They were the first non- Israelis to hold those positions.
Teva Pharmaceutical Industries Ltd., the world’s largest maker of generic drugs, rallied above $50 per share for the first time since 2011 as speculation mounted that consolidation among generic drug companies will bolster earnings.
Teva Pharmaceutical Industries Ltd., the world’s largest maker of generic drugs, posted the biggest weekly gain since 2008 as a surge in health-care industry deals spurred speculation the company may be acquired.