Billionaire Paul Singer’s NML Capital Ltd., seeking to enforce $1.7 billion in judgments over Argentina’s defaulted bonds, sued billionaire Elon Musk’s Space Exploration Technologies Corp. along with the South American nation for its rights to at least two satellite launches.
Paul G. Allen, a Microsoft Corp. co- founder who was once the second-richest American, accused 11 companies including Google Inc. and Apple Inc. of infringing patents he holds for online-shopping technology.
Argentina’s 12-year fight to shake off its 2001 financial crisis is in the hands of U.S. judges who assailed its “continual disregard” for creditor rights and refused to overturn lower court orders the nation repay billions of dollars in debt it defaulted on when its economy buckled.
BlueMountain Capital Management LLC and Saba Capital Management LP are leading investors into the debt market’s darker corners to boost returns, buying securities from collateralized loan obligations to bonds that seldom trade.
Exchange-traded funds that amassed junk bonds at a record pace in the first half of 2012 are now attracting unprecedented cash to buy speculative-grade loans as investors wager that a four-year rally in the notes is ending.
Argentina is enriching debt investors with returns that are nine times the average in emerging markets this quarter, underscoring the nation’s status as a haven against Federal Reserve policies that have whipsawed developing-nation bondholders.
Canada’s commodity shares have fallen to their cheapest prices since the recession, wiping out the stock market’s best start to the year since 2004 as global economic concerns overshadowed the best two-month job growth in more than 30 years.