U.S. hedge fund founder is denied early release in insider case

By Jonathan Stempel NEW YORK (Reuters) – A federal judge on Wednesday rejected hedge fund manager Doug Whitman's request to end his two-year sentence for insider trading early while he pursues his latest appeal of his 2012 conviction. U.S. District Judge Jed Rakoff said it would be unfair to release the Whitman Capital LLC founder from the Sacramento, California, halfway house where he was moved this month just because he is only five months away from possible freedom…

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U.S. hedge fund founder is denied early release in insider case

Lockheed wins more than $1 billion contract for C-130J aircraft

(Reuters) – Lockheed Martin Corp has been awarded a contract worth more than $1 billion for 32 C-130J aircraft, the Pentagon said on Wednesday. The work is expected to be completed

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Lockheed wins more than $1 billion contract for C-130J aircraft

Puerto Rico to default on some debts, will pay GO debt

Puerto Rico will default for the second time in five months, but will pay the bulk of $1 billion due on Jan. 4, including its most senior debt, Governor Alejandro Garcia Padilla said on Wednesday. The Caribbean island's biggest payment, $328.7 million in general obligation debt, will be paid, the governor told reporters at a press conference in San Juan. More than half of that payment was made by

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Puerto Rico to default on some debts, will pay GO debt

KaloBios Pharmaceuticals files for bankruptcy in wake of Shkreli arrest

KaloBios Pharmaceuticals Inc, a biotechnology company that fired Chief Executive Martin Shkreli earlier this month after his arrest on charges of securities fraud, filed for Chapter 11 bankruptcy on Tuesday. The filing comes weeks after KaloBios received financing from Shkreli to avert closing down, only to have those plans upended by his arrest. Shkreli was arrested on Dec 17 for engaging in what U.S. prosecutors said was a Ponzi-like scheme at his former hedge

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KaloBios Pharmaceuticals files for bankruptcy in wake of Shkreli arrest

Oil ending 2015 how it began – on the skids

By Wayne Cole SYDNEY (Reuters) – Asian share markets were ending the year on a subdued note on Thursday as a renewed slide in oil prices sapped sentiment, a baleful trend that shows every sign of lingering into 2016. The relentless decline in oil hit currencies of commodity-rich countries including the Russian rouble, Canadian dollar, Norwegian crown, Brazilian real and Mexican peso. While cheaper fuel is a boost to consumer spending power in much …

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Oil ending 2015 how it began – on the skids

China December official PMI likely to show fifth month of contraction

Activity in China's manufacturing sector is expected to have contracted for a fifth straight month in December, a Reuters poll showed, likely consigning the world's second-largest economy to its slowest annual growth in a quarter of a century. The official manufacturing Purchasing Managers' Index (PMI) is forecast to inch up to 49.7 from November's 49.6, according to a median forecast of 27 economists in a Reuters poll. Analysts expect only a marginal improvement in the vast manufacturing sector in December from …

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China December official PMI likely to show fifth month of contraction

Adidas not facing shareholder pressure to sell Reebok: FT

Adidas is not facing pressure from activist shareholders to offload more assets, like fitness brand Reebok, the German sporting goods group's finance chief told the Financial Times. “I've never had a conversation where anyone has given me any pressure about anything,” the FT quoted Robin Stalker as saying in an interview …

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Adidas not facing shareholder pressure to sell Reebok: FT

Pep Boys says Icahn offer is superior, moves to terminate Bridgestone deal

Icahn's latest bid of $18.50 per share on Monday values Pep Boys at about $1 billion, while Bridgestone's previous offer of $17 per share valued the company at about $947 million. Pep Boys said that its board has delivered a notice to Bridgestone to terminate

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Pep Boys says Icahn offer is superior, moves to terminate Bridgestone deal

U.S. holiday retail sales grow a ‘solid’ 7.9 percent: MasterCard

(Reuters) – Strong online sales and demand for furniture and women's apparel helped U.S. retail sales grow by a “solid” 7.9 percent this holiday season, according to MasterCard Advisors SpendingPulse. U.S. retail sales, excluding automobiles and gas, had grown 5.5 percent in the period between Black Friday and Christmas Eve last year. Online sales grew 20 percent in the holiday season this year, MasterCard

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U.S. holiday retail sales grow a ‘solid’ 7.9 percent: MasterCard

Oil hovers near 11-year lows on abundant supply, slowing demand

Oil prices steadied not far off their 11-year lows on Tuesday, under pressure from slowing global demand and abundant supplies, with Saudi Arabia signaling no change to its oil policies and Iran preparing to ramp up exports. International benchmark Brent and U…

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Oil hovers near 11-year lows on abundant supply, slowing demand

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