Energy Future Holdings Corp. is in talks with creditors on an 11th-hour plan that would speed a bankruptcy reorganization of the electricity provider known as TXU Corp. when it was bought in a $48 billion leveraged buyout, said two people with direct knowledge of the discussions.
The U.S. Supreme Court expanded the reach of a federal law enacted in response to the 2001 Enron Corp. collapse, saying it protects people who work for a public company’s contractors, including law firms and auditors.
Fidelity Investments, the mutual- fund firm best known for its star stock pickers since it was started almost seven decades ago, named former bond manager Charles Morrison to run its asset-management unit.
UrtheCast Corp., the digital-imaging company whose largest shareholder is Fidelity Investments, has surged almost 40 percent in the past seven months as investors bet it has found an inexpensive niche in the $1.5 billion market for pictures from space.
It took Abigail Johnson 25 years to take charge at Fidelity Investments, the money manager controlled by her father. As she picks a new head for the firm’s asset-management unit, her choice is likely to be a company veteran who rose through the ranks like she did.
JPMorgan Chase & Co., the biggest U.S. bank, has hired former U.S. Securities and Exchange Commission enforcement chief William McLucas to help respond to regulatory probes of the firm’s $2 billion trading loss, according to two people with knowledge of the assignment.
Hong Kong, which won a ruling that former Fidelity Management & Research Co. portfolio manager George Stairs sold shares of Chaoda Modern Agriculture Holdings Ltd. using inside information, isn’t seeking any penalty.
British businessman Victor Dahdaleh paid about 40 million pounds ($64 million) in bribes to the former chairman and chief executive officer of Bahrain’s state- owned aluminum producer, a prosecutor said.
BlackRock Inc. and Fidelity Investments will be studied by U.S. regulators who are in the early stages of reviewing whether asset managers pose a potential risk to the financial system, two people with knowledge of the matter said.