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Billionaire Alibaba founder Jack Ma on on Monday resigned from SoftBank’s board in what is the latest departure by a high-profile ally of CEO Masayoshi Son. SoftBank didn’t give a reason for Ma’s resignation, but it came the same day that SoftBank’s giant Vision Fund reported a staggering $18 billion annual operating loss — the …
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President Trump lashed out at Wall Street bears Wednesday as the stock market digested fresh warnings about the coronavirus pandemic. Trump suggested on Twitter that it’s “barely legal” for pessimistic investors to give gloomy forecasts if they stand to profit from market crashes like the one the virus crisis caused. “When the so-called ‘rich guys’ …
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Hollywood mogul Jeffrey Katzenberg is under attack from billionaire Paul Singer, whose activist hedge fund has accused his mobile-streaming startup Quibi of patent infringement and theft of trade secrets. Singer’s fund Elliott Management, which manages more than $40 billion in assets, has made a “substantial” investment in rival interactive-video company Eko to fund its litigation …
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Paul Singer’s Elliott Management said global stocks could tumble further, ultimately losing half or more of their value from February’s high, as the world braces for the deepest recession since the 1930s-era Great Depression. The New York-based hedge fund firm, in a letter to clients on Wednesday seen by Reuters, wrote that the sharp market …
Billionaire Alibaba founder Jack Ma on on Monday resigned from SoftBank’s board in what is the latest departure by a high-profile ally of CEO Masayoshi Son. SoftBank didn’t give a reason for Ma’s resignation, but it came the same day that SoftBank’s giant Vision Fund reported a staggering $18 billion annual operating loss — the …
