Third Point News
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Updated 56 minutes ago
U.S. stocks slid, dragging benchmark indexes to their worst drop in three weeks, and Treasuries and gold tumbled on concern the Federal Reserve will scale back stimulus efforts if the labor market improves.
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Updated 33 minutes ago
Sony Corp. directors are discussing whether to adopt billionaire Daniel Loeb’s proposal for an initial public offering of its entertainment business, a week after the TV maker said the assets weren’t for sale.
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Sony Corp. directors are discussing whether to adopt billionaire Daniel Loeb’s proposal for an initial public offering of its entertainment business, a week after the TV maker said the assets weren’t for sale.
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Judging from the markets and English- speaking news media this week, Greece’s damaged economy has finally turned the corner. I doubt it.
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Daiwa Asset Management Co., which bought Sony Corp. shares last year as it bet a weaker yen would boost earnings, is opposed to hedge-fund manager Daniel Loeb’s proposal to spin off the electronic maker’s entertainment unit, claiming it will drain the company of a source of profits.
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Investors are more confident in a Japanese leader than any time since at least September 2010, with optimism about Prime Minister Shinzo Abe’s policies exceeding that for counterparts in the U.S., Europe and China.
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Investors who bought into Sony Corp.’s convertible bond issue last year may reap profits of as much as $1.7 billion, after the shares surged to more than double the price at which the debt can be redeemed for equity.
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Third Point LLC, the hedge-fund firm led by Daniel Loeb, exited its position in Morgan Stanley in the first quarter after the shares rallied.
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Third Point LLC, the hedge-fund firm run by Daniel Loeb, exited its stake in Herbalife Ltd. in the first quarter, according to a regulatory filing.
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MGM Holdings Inc., the film studio that emerged from bankruptcy more than two years ago, said first-quarter profit more than doubled with the film hits “Skyfall” and “The Hobbit.”
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