Kareem Serageldin, the ex-global head of Credit Suisse Group AG’s structured credit trading business, was sentenced to 2 1/2 years in prison for his part in a scheme to falsify the value of mortgage-backed bonds in 2007.
T. Rowe Price Group Inc., the money manager with about three-fourths of its assets in equities, said third-quarter earnings rose 9 percent as a global stock rally boosted the holdings it oversees for clients.
Franklin Resources Inc., the manager of the Franklin and Templeton mutual funds that has the majority of its equity assets in global stocks, said fiscal fourth- quarter profit climbed 3.4 percent as rising markets boosted assets.
The Federal Energy Regulatory Commission lacks authority over futures contracts, a U.S. appeals court ruled, handing a victory to the Commodity Futures Trading Commission and an ex-Amaranth Advisors LLC trader fined $30 million by FERC.
Warren Buffett’s Berkshire Hathaway Inc. and Jorge Paulo Lemann’s 3G Capital agreed to buy HJ Heinz Co. for about $23 billion as the billionaires increased their bets on consumer products. Munger, Tolles & Olson LLP represented Berkshire Hathaway. Kirkland & Ellis LLP represented 3G Capital, and Davis Polk & Wardwell LLP provided legal counsel to the ketchup maker.
A former natural-gas trader at Amaranth Advisors LLC, backed by the U.S. Commodity Futures Trading Commission, asked a federal appeals court to overturn a $30 million fine imposed by another regulator over alleged manipulation of the gas-futures market.