Two prominent mutual fund companies are hard at work moving beyond the specialties that made them well-known in the first place.
Berkshire Hathaway Inc. (BRK/A) is benefiting after billionaire Chairman Warren Buffett increased investments tied to the U.S. housing market and sidestepped bets on Europe amid the region's debt crisis.
Knight Capital Group Inc. opened its books to potential buyers, including private-equity firms and at least one securities-industry rival, as it seeks an investment or takeover to survive after a $440 million trading loss.
Wall Street bond dealers may be cutting their commitment to trading municipal securities as regulations have increased transparency, according to preliminary findings of an industry-backed study.
Knight Capital Group Inc. (KCG) has “all hands on deck” and is in close contact with clients and counterparties as it tries to weather trading errors that cost it $440 million, Chief Executive Officer Thomas Joyce said.
The world's largest economy cooled in the second quarter as limited job growth prompted Americans to curb spending while state and local governments cut back.
JPMorgan Chase & Co. (JPM), the largest U.S. bank, reported a $4.4 billion trading loss in its chief investment office, bigger than analysts estimated, that helped drive second-quarter profit down 9 percent.
