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Blackstone notifies Cohen's SAC it intends to pull money: pension consultant

- Billionaire hedge fund manager Steven A. Cohen is losing the financial support of Blackstone Group Inc, the largest outside investor in his embattled SAC Capital Advisors, which is yanking much of its client money, according to a letter reviewed by Reuters.

Recent Business News

Yahoo joins growing list of bidders for Hulu: sources

LOS ANGELES/NEW YORK - Yahoo Inc has submitted a formal proposal to buy Hulu, joining a growing list of bidders for the video service owned by News Corp and Walt Disney Co, two sources with knowledge of the bid told Reuters on Friday.

Chinese premier criticizes EU move on trade measures

SHANGHAI - Chinese Premier Li Keqiang criticized the European Union over its plans to investigate alleged anti-competitive behavior by Chinese mobile telecom equipment makers and to impose punitive import duties on solar panels from China, state media reported.

24 May 2013

Ex-Virginia bank executives guilty in financial crisis case

- The former chief executive of a failed U.S. bank in Norfolk, Virginia, and three others were convicted Friday of conspiracy to commit bank fraud and other charges in connection with a scheme to conceal loan losses that contributed to the bank's collapse in 2011.

24 May 2013

U.S. audit regulator reaches deal with China on document access

NEW YORK - U.S. regulators will get access to Chinese companies' audit documents under a deal announced on Friday, opening the way to probes of bungled audits after a two-year stand-off between China and the United States.

24 May 2013

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