The Queens-raised partners have become billionaires by transforming their families’ modest real estate assets into a lodging empire that includes some of New York’s most stylish accommodations.
The U.S. Chamber of Commerce accused regulators of over-stretching their authority by sanctioning KBR Inc. for trying to block employees from reporting misdeeds.
DoubleLine's Jeffrey Gundlach said the firm is largely avoiding the debt and instead likes municipal bonds because of their high yields relative to other parts of the fixed-income market.
For decades the undisputed stars of the asset-management business, stock pickers have remained largely anonymous to the larger public despite a six-year rally that produced some outstanding funds.
Bill Gross’s bond fund at Janus attracted $6.8 million in new investor money in March as performance stabilized, helped by a bet that the dollar’s rally won’t continue.
Wall Street banks could be on the hook for part of the $26 billion in insurance payouts that U.S. shale drillers stand to gain as a result of plunging oil prices.
