Kenneth Heebner’s Capital Growth Management LP took a position in Nu Skin Enterprises Inc., the skin-care products seller that a Chinese newspaper last month said may be a pyramid scheme, while selling stakes in Ford Motor Co. and Mohawk Industries Inc.
Sita Magar is a single mother of four who earns whatever she can wring from six goats and the muscle of a rented water buffalo. After paved roads end, it takes four hours to reach her farm along a trail where felled trunks, like twisted balance beams, span a raging stream. Even so, a recruiter feeding migrant workers into the global electronics industry found Magar in her mountainside Nepalese village last year. He convinced her to borrow more money than she’d ever seen, about $1,000, and pay him to get her daughter a position at a factory in Malaysia.
Hitachi Ltd. , Japan’s second-largest manufacturer by revenue, climbed to a two-year high in Tokyo trading after agreeing to sell its hard-disk drive unit to Western Digital Corp. for about $4.3 billion.
Western Digital Corp., the maker of hard drives and home-entertainment devices, reached its highest in more than 15 years on speculation the company may go private following the potential buyout of Dell Inc.
Western Digital Corp. asked the European Union’s general court to overturn a regulator’s decision to give priority to a review of an acquisition by hard- disk storage industry rival Seagate Technology Plc.