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News

04 Oct Puerto Rico creditors end opposition to bank debt restructuring

Posted at 19:35h in News by KMFSLLP 0 Comments

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Puerto Rico's unsecured creditors will drop their opposition to a deal to restructure roughly $4 billion of debt issued by the U.S. commonwealth's defunct Government Development Bank (GDB), under an agreement revealed on Friday.

04 Oct UPDATE 2-‘Despondent’ Musk’s Tesla resembles Lehman, Greenlight’s Einhorn says

Posted at 19:24h in News by KMFSLLP 0 Comments

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Hedge fund manager David Einhorn lambasted Tesla Inc and its "despondent" Chief Executive Elon Musk on Friday, comparing the electric car company to Lehman Brothers Holdings Inc, where he had flagged accounting problems several months before its 2008 collapse.

04 Oct Pension savers losing out on cash trade-in deals

Posted at 19:16h in News by KMFSLLP 0 Comments

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Lump sums may represent as little as 57% of schemes’ full value, analysis finds

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04 Oct UPDATE 4-Greenlight comment adds to Tesla losses from Musk mocking SEC

Posted at 19:13h in News by KMFSLLP 0 Comments

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Shares of Tesla Inc fell 7 percent on Friday after David Einhorn's hedge fund Greenlight Capital slammed the electric carmaker, adding to losses sparked by CEO Elon Musk mocking the U.S. Securities and Exchange Commission on Twitter.

04 Oct Fidelity’s asset management chief Morrison to retire

Posted at 18:42h in News by KMFSLLP 0 Comments

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Fidelity Investments said on Friday that its asset management chief, Charles Morrison, is leaving the company and that it plans to name a replacement in "the near term."

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04 Oct RPT-Saudi crown prince pledges Aramco IPO by early 2021 – Bbg

Posted at 18:24h in News by KMFSLLP 0 Comments

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Saudi Arabia's crown prince insisted the stalled plan to sell shares in oil giant Aramco will go ahead, promising an initial public offering by 2021 and sticking to his ambitious view the state-run company is worth $2 trillion or more, Bloomberg reported on Friday.