Bank of America Corp., the second- biggest U.S. lender, said Chief Executive Officer Brian T. Moynihan’s 2011 compensation package was $7 million for 2011, a 30 percent cut, as the company’s stock slumped.
Naiade Resorts Ltd. , Mauritius’s third-largest hotel operator by market value, rose to the highest in 15 months after Chief Executive Officer Paul Jones said the group will return to profit in the year through June.
Money can be dull. There are only so many denominations, and only so many ways to make it. What’s interesting are the people who risk it, and over the past four decades no one has made more of a spectacle of risk than George Soros, whose Quantum fund famously bet $10 billion that the Bank of England would be forced to devalue the pound. Soros earned $1 billion on that trade and incalculable legend points.
Hedge-fund icon Stanley Druckenmiller is quitting the business after three decades, telling investors he’d been worn down by the stress of trying to maintain one of the best trading records in the industry while managing an “enormous amount of capital.”
U.S. House members voted to award the highest honor Congress can give civilians, the Congressional Gold Medal, to five groups of war heroes, Israel’s President Shimon Peres and golf legend Jack Nicklaus.