Hedge funds tip-toe toward an uncertain future
It wasn't too long ago big-time hedge fund managers like James Pallotta were erecting monuments to themselves. In Pallotta's case, it was a $21 million Georgian-style mansion he built in 2007 in Weston, a leafy Boston suburb uncomfortable with such displays of wealth. Read Full Article here.
Citi could sell $20 billion of shares soon: report
Citigroup Inc plans to pay back TARP by raising money in an equity offering that could be announced as early as Thursday and could be some $20 billion, television network CNBC reported, citing sources. Read Full Article here.
Appeals court weighs Mattel Bratz case
U.S. appeals judges on Wednesday questioned whether a California trial judge went overboard by awarding MGA Entertainment Inc's Bratz doll franchise to Mattel Inc after MGA lost a copyright infringement trial to its rival in 2008. Read Full Article here.
Facebook privacy revamp draws fire
Facebook, the world's No.1 Internet social network, took a step toward opening up parts of its site to outsiders on Wednesday by introducing a broad revision of its users' privacy settings. Read Full Article here.
Calpers firing some real estate portfolio managers
Calpers, the biggest U.S. public pension fund, has fired or will sack a number of its real estate portfolio managers amid steep losses for its property assets, according to a report on its web site. Read Full Article here.
Ex-IBM exec denies SEC charges on Galleon
A former senior IBM Corp executive denied being involved in a sprawling hedge fund insider trading case and asked a court on Wednesday to dismiss civil charges by the U.S. Securities and Exchange Commission. Read Full Article here.
Nokia pulls plug on U.S. flagship stores
Nokia will close its only two flagship stores in the United States, in a sign its retail strategy of flashy brand-booster outlets is needing a refresh. Read Full Article here.