Bloomberg News

World’s Richest Man Faces Restrictions On Expanding Phone Empire

Carlos Slim, the world’s richest person, is confronting a mounting backlash from the same Latin American countries that made him wealthy as authorities rein in his expanding mobile-phone empire.

Banks Challenge RIAs By Renewing Focus On Asset Management

Banks have been ramping up asset management units after being forced to reduce their dependence on profits from high-risk trading

Manufacturing Unexpectedly Drops On 'Fiscal Cliff' Concern

Manufacturing unexpectedly contracted in November for the fourth month in the last six as factory managers grew more concerned about the potential economic toll stemming from the so-called fiscal...

Hedge Funds Increase Bullish Commodity Bets

Hedge funds increased bullish bets on commodities by the most since August as evidence that China is accelerating outweighed concerns about the so-called U.S. "fiscal cliff."

Fed’s Dudley Sees Obstacle In Mortgage Bond, Rate Spreads

Federal Reserve Bank of New York President William C...

Obama Counts On Re-Election Clout To Win Fiscal Cliff Battle

President Barack Obama is betting that his re-election gave him the political clout to force Republicans to accept higher taxes on upper-income Americans as a step toward reducing the federal deficit.

SEC Seen Waiting For Prosecutors Before Pursuing SAC Capital

After a portfolio manager's arrest, the SEC could hold off on suing a hedge fund's founder until prosecutors build a case.

Gundlach Expecting Kaboom Of Defaults, Pours Into Chinese Stocks

DoubleLine Capital CEO explains why a financial catastrophe is on the horizon with huge defaults.

Madonna Corset Makes $52,000, Indiana Jones Whip $32,000

The items were part of a cache of pop and movie memorabilia auctioned off by Christie's.