Stockton, California, shouldn’t be allowed to reorganize under court protection because it can’t prove it negotiated in good faith to avoid bankruptcy, creditors told a judge who said he will rule by April 1.
Devan Kaloo led Aberdeen Emerging Markets Fund to top risk-adjusted returns by picking the best stocks in the most volatile industries, beating peers from Fidelity Investments to Franklin Resources Inc.’s Mark Mobius.
Franklin Resources Inc., manager of the Franklin and Templeton mutual funds, said fiscal first- quarter profit fell 4.1 percent amid a slump in worldwide stocks and withdrawals from the firm’s best-selling global bond fund.
When Justin Trudeau, running for leader of Canada’s third-largest political party, said he favored Cnooc Ltd.’s bid for Nexen Inc., lobbyist John Capobianco got a flurry of calls from investors looking to make money on one of the last big global mergers of the year.
Five years after their record- setting leveraged buyout of Energy Future Holdings Corp., KKR & Co. and TPG Capital are moving closer to a possible new milestone: the biggest bankruptcy of a private equity-backed company since the failure of Chrysler Group LLC.
Paulson & Co., the hedge fund run by billionaire John Paulson, and mutual fund firm Franklin Resources Inc. are among foreign investors betting Canada will approve Cnooc Ltd.’s $15.1 billion acquisition of Nexen Inc.
Dynegy Inc. extended for a second time the deadline for its distressed-debt exchange, which would swap as much as $1.25 billion of its outstanding notes for cash and new securities with lower face value.