Wall Street Moguls Win Important Backer in Their Fight Over Hedge Fund Sale
A group of high-profile investors is pushing to buy a storied hedge fund that has already agreed to be sold to another firm.
UBS Reports $29 Billion Profit, a Record
The huge gain stems from the bank’s acquisition of its rival Credit Suisse this spring for about $3.2 billion, a steep discount that is skewing its quarterly results.
VanMoof, Trendy E-Bike Brand, Bought Out of Bankruptcy by Scooter Maker
Lavoie, which makes high-end scooters based on McLaren’s Formula 1 technology, acquired the trendy e-bike brand that had gained a zealous following.
The Fed’s Preferred Inflation Gauge Ticked Up in July
Overall inflation climbed to 3.3 percent, from 3 percent previously, underscoring the Fed’s long road back to 2 percent price increases.
UBS Earns $29 Billion From Badwill Tied to Credit Suisse Deal
The Swiss bank’s sharply discounted takeover of Credit Suisse led to a paper gain that gave it the biggest quarterly profit by a bank in history.
Eurozone Inflation Holds Steady at 5.3 Percent
Prices rose at an annual rate of 5.3 percent, defying expectations of a slowdown. The news may bolster the case for another European Central Bank interest rate increase.
The U.S. and China Are Talking Again. Where It Will Lead Is Unclear.
Gina Raimondo, the U.S. commerce secretary, and her Chinese counterparts agreed to continue economic talks, but such dialogues have a disheartening record.
Trader Joe’s Recalls Tamales, the Company’s Sixth Since July
The company cited potential milk contamination of the tamales. Other products had potentially been contaminated with rocks, insects and metal.
The Fight to Control Big Gay Ice Cream in New York City
A company that rode to success with an inclusive message has shrunk to a single store, as a founder sues a partner he accuses of mismanagement and fraud.
Richard Ekstract, Magazine Publisher With Link to Warhol, Dies at 92
He was promoting a new trade journal, Tape Recording, when he lent a video recorder to Andy Warhol, who used it to make a classic work with Edie Sedgwick.