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    1. Jamie Dimon is a Billionaire (JPM)

      Jamie Dimon is a Billionaire (JPM)

      According to the Bloomberg Billionaires index, Dimon, the CEO of JPMorgan, joins his mentor Sandy Weill as one of the few banking executives to become a billionaire. Bloomberg writes that Dimon derives a bit less than half of his $1.1 billion net worth — $485 million — from his stake in JPMorgan, with the rest of his net worth coming from an investment portfolio spurred by his sale of Citigroup stock in the 1990s...

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      Mentions: Investment CEO
    2. Exclusive: Hedge Funds to Macy's: Sell Your Real Estate

      Exclusive: Hedge Funds to Macy's: Sell Your Real Estate

      NEW YORK (Reuters) - Several hedge funds have asked U.S. department store company Macy's Inc to consider options for its real estate, including selling some major sites and then leasing them back, according to several sources close to the matter. The push is in line with real estate decisions by some other major retailers that have been beneficial to their stock prices...

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      Mentions: Management CEO
    3. Dan Loeb Turned $3 Million into a $17.5 Billion Hedge Fund Empire in 20 Years — Here's His Fabulous Life

      Dan Loeb Turned $3 Million into a $17.5 Billion Hedge Fund Empire in 20 Years — Here's His Fabulous Life

      Hedge fund manager Daniel Seth Loeb founded Third Point LLC on June 1, 1995 with $3.4 million in capital. The then-33-year-old had money from only five investors—all friends and family—and his own capital. Today, the billionaire activist investor oversees around $17.5 billion in assets. Since those early days, he has made a reputation for himself as a formidable money manager. As one fund manager recently put it, "he's one of the best investors of our generation...

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    4. Here's Everything Plus500 Investors Were Angry About at Today's AGM

      Here's Everything Plus500 Investors Were Angry About at Today's AGM

      Management at troubled spreadbetting company Plus500 got blasted by investors today at the company's annual general meeting in London. The Israel-based but London-listed company froze thousands of customers' trading accounts at its UK operation last week after a review by the financial watchdog, the Financial Conduct Authority, found its anti-money laundering checks weren't up to scratch...

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    5. Global Lower Rate Environment Harmful to Investors: BlackRock CEO

      Global Lower Rate Environment Harmful to Investors: BlackRock CEO

      (Reuters) - Lowering interest rates around the world to boost the global economy has reached a point where it is now "quite harmful" to clients, including pension funds and insurers, BlackRock Inc Chairman and Chief Executive Officer Laurence Fink said on Wednesday. The "low rate environment is having a profound impact on how they're going to operate," Fink said at the Annual Bernstein Strategic Decisions Conference on Wednesday...

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    6. BlackBerry to Buy Up to 12 Million Shares for Cancellation

      BlackBerry to Buy Up to 12 Million Shares for Cancellation

      (Reuters) - Canadian smartphone maker BlackBerry Ltd said it plans to buy back 12 million shares, sending its stock up nearly 2 percent in extended trading in the United States. BlackBerry, which has not repurchased any outstanding securities in the last one year, said it would present a new employee share purchase program and propose an increase in its equity incentive plan at its annual meeting next month...

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      Mentions: Stock Market
    7. A Morgan Stanley Wealth Manager's Affair With a Client Could Cost the Bank $400 Million

      A Morgan Stanley Wealth Manager's Affair With a Client Could Cost the Bank $400 Million

      A high-flying Morgan Stanley investment adviser, Ami Forte, has the bank facing an enormous fine, a source says. The fine would be the result of a lawsuit filed against the bank by the widow of a multimillionaire client. The widow is Lynnda Speer, who was married to Roy Speer, cofounder of the Home Shopping Network. He died in 2012. Now Lynnda Speer says the bank overcharged her husband while he was alive. To complicate matters, there is this: Roy Speer and Forte were having an affair...

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      Mentions: Investment Chairman
    8. Goldman Sachs Asks Shareholders to 'like' Tech Push in San Francisco

      Goldman Sachs Asks Shareholders to 'like' Tech Push in San Francisco

      SAN FRANCISCO (Reuters) - In Goldman Sachs Group Inc's latest move to bolster its street cred as a cool, tech-savvy bank, it is holding its annual shareholder meeting in San Francisco on Thursday. Goldman has been one of the top investment banks handling mergers and IPOs for the tech sector since the dot-com boom of the 1990s. But more recently, the bank has been trying to mold itself into a tech firm of sorts, too...

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    9. A Founder who Sold his Company for $260 Million is Being Sued by the Company that Bought it (CSC)

      A Founder who Sold his Company for $260 Million is Being Sued by the Company that Bought it (CSC)

      These are strange times for the 56-year-old IT giant, Computer Sciences Corp. CSC has filed a lawsuit accusing one of its star executives, Eric Pulier of fraud connected to an alleged bribery scandal in Australia. CSC is accusing Pulier — former CEO of ServiceMesh, which CSC bought — of making "authorized payments" to two Australian bank executives. The company is seeking to recoup the full $98 million it paid to ServiceMesh shareholders, according to a CSC statement cited by Forbes...

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    10. A Hedge Fund Manager's Meeting With Uber's CFO Perfectly Captures What's Wrong with Corporate America

      A Hedge Fund Manager's Meeting With Uber's CFO Perfectly Captures What's Wrong with Corporate America

      Some of Wall Street's hedge-fund community is becoming increasingly vocal about a serious problem with corporate America. Mike Novogratz, president of $70 billion investment fund Fortress Investments, gave a perfect illustration of this problem on Sunday's episode of "Wall Street Week. " The anecdote was about a meeting he'd had with the former CFO of Uber, Brent Callinicos. Novogratz didn't mention Callinicos by name, referring to him only as "Uber's CFO.

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    11. Bill Ackman Has Two Undisclosed Positions, and One of Them is Massive

      Bill Ackman Has Two Undisclosed Positions, and One of Them is Massive

      Hedge fund titan Bill Ackman, the CEO of the $20 billion fund Pershing Square Capital, says his firm has two new investments that it has yet to disclose. During a conference call with Pershing Square Holdings investors on Monday morning, the hedge fund billionaire said he would have a "little more update" on the investments at the end of May. One investment is small and the other is large, he added. Ackman said the large one was "approaching 15% of capital...

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    12. American Apparel Sues Charney for Violating Standstill Agreement

      American Apparel Sues Charney for Violating Standstill Agreement

      (Reuters) - Apparel retailer American Apparel Inc sued its ousted chief executive Dov Charney for violating his standstill agreement with the company. The company said on Friday it has filed a suit with the Delaware Court of Chancery. Charney on Wednesday sued the company and Chairman Colleen Brown, alleging defamation and mental and emotional distress...

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      Mentions: Chairman
    13. The CEO of Frontier Airlines is Out

      The CEO of Frontier Airlines is Out

      The CEO of Frontier Airlines has resigned and been replaced by the carrier's chairman and president. Frontier said Wednesday that Dave Siegel stepped down for personal reasons. Siegel's departure comes two days after the government said that Frontier had the highest complaint rate and the worst on-time performance among the nation's 14 leading airlines in March...

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      Mentions: CEO Chairman
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