SAC Capital Advisors LP’s Michael Steinberg became the fund’s longest-serving manager to be convicted of insider trading in a U.S. victory that may increase pressure on his accused one-time colleague, Mathew Martoma, to cooperate in the probe of founder Steven A. Cohen.
International Securities Exchange Holdings Inc. lost a second lawsuit over the Chicago Board Options Exchange’s exclusive license to list options based on the Standard & Poor’s 500 and Dow Jones indexes.
New York Mayor-elect Bill de Blasio’s choice of Dean Fuleihan as budget director may bolster his relationship with state lawmakers, who must approve his signature plan to fund early-childhood education.
A California wine dealer described by prosecutors as the operator of a “fake wine factory” was found guilty of scheming to sell counterfeits of rare vintages purportedly worth more than $1.3 million to collectors including billionaire William Koch.
Billionaire Guo Guangchang, chairman of Shanghai’s Fosun International Ltd., is seeking to expand the company’s U.S. commercial real estate investments after the acquisition of New York’s 1 Chase Manhattan Plaza.
It’s 20 minutes before 4 p.m. in London and currency traders’ screens are blinking red and green. Some dealers have as many as 50 chat rooms crowded onto four monitors arrayed in front of them like shields. Messages from salespeople and clients appear, get pushed up by new ones and vanish from view. Orders are barked through squawk boxes.