The worst California drought on record is forcing Jeff Schmiederer to spend $1.1 million on two new wells for his 1,200-acre almond orchard. Trees got so little water in 2013 that this year’s harvest may drop 25 percent, and the damage may be even worse in 2015.
Level Global Investors LP co-founder Anthony Chiasson, who faces trial Oct. 29 for insider trading of two technology companies, asked to present jurors with an analysis he said shows the hedge fund’s other co-founder, David Ganek, made trades in the same stocks at the same time.
Republican U.S. Senator Scott Brown drives a GMC pickup while Democratic challenger Elizabeth Warren has a hybrid Ford SUV. She rakes in Hollywood cash. He draws on Wall Street. He calls her elitist. She brands him extremist.
John Mack, the former head of Morgan Stanley, is going into business with a 77-year-old tax lawyer who oversees more than $15 billion in investment assets for clients such as ex-basketball star Magic Johnson and the founding family of Estee Lauder Cos., Bloomberg News’s Miles Weiss reports.
Citigroup Inc. will pay $75 million to settle U.S. regulatory claims that it misled investors by failing to disclose billions of dollars in holdings tied to subprime mortgages while the housing crisis unfolded.
Failure by Congress to act on the alternative minimum tax by year’s end will lead to “significant” delays in tax filing and a strain on taxpayers, said Steven Miller, the Internal Revenue Service’s acting commissioner.