Demand for $6 billion of bonds sold to finance Florida housing developments shows no signs of waning even after the Internal Revenue Service said debt issued for a project of billionaire H. Gary Morse isn’t tax-exempt.
Guggenheim Partners LLC, the U.S. firm seeking to acquire Deutsche Bank AG’s asset management businesses, would quintuple in size with the deal, enabling it to better compete against the biggest global investors.
The head winds grew so intense during the 508-mile race through California’s Mojave Desert and Death Valley that Joshua Friedman told his teammates he thought he would be blown off his bike. Instead of tumbling down, the hedge-fund manager powered through his 86-mile leg of the Furnace Creek 508, showing little fatigue after he dismounted his bike.
Daniel Och , founder of $25 billion hedge fund firm Och-Ziff Capital Management Group LLC , looks out from the podium over the crowd of investors and money managers nibbling on chicken salad at Manhattan’s St. Regis hotel and repeats a quip from investor Warren Buffett .
JPMorgan Chase & Co. disclosed $1.3 billion of new expenses tied to faulty mortgages and foreclosures in its third quarter, pushing the bill for the five biggest home lenders since 2007 to almost $69 billion.
Senate Republicans abandoned their efforts to block debate over legislation overhauling U.S. financial rules, vowing instead to fight for changes to the bill on issues ranging from consumer protection to derivatives, according to reporting by Bloomberg’s Alison Vekshin and James Rowley.