Hedge-fund assets contracted by $95 billion to $2.87 trillion during third quarter amid a surge of fund closures.
Turmoil in financial markets may slow the U.S. economic expansion. But it probably won't kill it.
Third Avenue Management LLC received approval from U.S. regulators to temporarily suspend redemptions from its $788.5 million high-yield bond fund.
Martin Shkreli, the boyish drug company entrepreneur, who rocketed to infamy by jacking up the price of a life-saving pill from $13.50 to $750, was arrested by federal agents at his Manhattan apartment early Thursday morning and charged with securities fraud.
The Federal Reserve raised interest rates for the first time in almost a decade in a widely telegraphed move while signaling that the pace of subsequent increases will be “gradual” and in line with previous projections.
Third Avenue Management is parting ways with Chief Executive Officer David M. Barse after he announced plans last week to freeze redemptions in its troubled high-yield mutual fund, the Wall Street Journal reported.
Economists have given Federal Reserve Chair Janet Yellen a mission for next week's press conference: Explain what gradual means.
One provision in the spending bill pushes out for two years the 40% levy on high-cost health insurance plans, known as the Cadillac tax, that was supposed to start in 2018.
The firm founded in 1986 by Martin Whitman has been shedding assets since before the 2008 financial crisis, hurt by poor performance and an exodus of managers.
