President Barack Obama said he is nominating Penny Pritzker, the Chicago businesswoman, philanthropist and Hyatt Hotels Corp. heiress who led record fundraising for his 2008 campaign, as secretary of commerce.
Coda Holdings Inc., parent of the electric-car maker backed by billionaire Philip Falcone, filed for bankruptcy and will seek to sell its assets to a group led by a Fortress Investment Group LLC unit for $25 million.
David McCormick, co-president of the world’s largest hedge fund, Bridgewater Associates LP, said recent moves by regulators in global financial centers are “yellow flags” for the threat of protectionism.
Five members of the exclusive club of U.S. presidents gathered in Dallas today to dedicate the George W. Bush Presidential Center, a red-brick-and-cream museum and library that chronicles the eight years in office of the nation’s 43rd president.
Dartmouth College canceled all arts and science classes today after some students were targeted by online threats after a protest against homophobia, sexual assault and racism disrupted an on-campus event.
Pacific Investment Management Co. is becoming less dependent on Bill Gross, preparing for an eventual future without the world’s best-known bond investor and adding pressure on its rising stars to live up to his legacy.