Herbalife Ltd.’s investigation by the U.S. Federal Trade Commission, a move hedge fund manager Bill Ackman had sought for more than a year, threatens to stem a stock rally that had boosted the shares by more than half.
Herbalife Ltd., the nutrition company that hedge fund manager Bill Ackman has accused of being a pyramid scheme, disclosed that the U.S. Federal Trade Commission has started a civil probe into its practices.
California is parched. The state’s worst drought in decades has left its reservoirs half-naked, if not skeletal. Officials say 17 communities could run out of drinking water this summer; some are considering mandatory rationing; and 500,000 acres in the state may be left fallow.
Pasi M. Hamalainen, a Finnish native who took early retirement as a managing director at Pacific Investment Management Co. to raise his son and race Bugattis before joining Capital Group Cos., has died. He was 46.
Herbalife Ltd., the nutrition company that hedge fund manager Bill Ackman has accused of being a pyramid scheme, fell the most in a year after a U.S. senator called for a probe into the company’s operations.
Steven Drobny , who compares the joy of writing to “putting toothpicks in my eyeballs,” said he was obliged to write his second book because he’s worried taxpayers may one day have to bail out pension plans -- and he blames Harvard’s class of ‘69.