Wealth

William Ackman's hedge fund is boasting double-digit gains at a time many portfolios have sunk along with the economy during the coronavirus pandemic, after the billionaire investor plowed cash into a number of companies he already owned and dumped Warren Buffett's Berkshire Hathaway among other stocks.

The COVID-19 pandemic has put a bright spotlight on weaknesses in many of the systems designed to protect Americans from risks. But with older people more susceptible to serious illness and death from the virus, the problems in our Medicare system that were evident pre-pandemic have come into especially sharp relief.

Hedge fund Starboard Value LP is close to having eight directors elected to the board of GCP Applied Technologies Inc at the chemical company's annual meeting, people familiar with the matter said on Wednesday.

A U.S. banking regulator announced on Wednesday it had finalized work on a long-running effort to change community lending standards for banks.

Human Interest, which helps small and medium-sized businesses set up 401K plans for employees, said on Wednesday it had extended its Series C funding round to $50 million due to more demand during the coronavirus crisis.

Northern Trust Corp's decision to liquidate a $1.8-billion prime money market fund was seen as an outlier event by industry analysts on Wednesday, but one that could portend more problems depending on how the economy fares.

Small businesses are among the hardest hit as the coronavirus pandemic continues to cause economic uncertainty in communities across the United States.

U.S. jobless claims have exceeded 30 million since the coronavirus outbreak hit the country, wiping out a decade of job gains and sending many Americans scrambling to find work and cash in on government aid.

U.S.-based stock funds posted $3.2 billion in inflows in the week ended on Wednesday, according to Lipper.