July 29, 2021

Russia crisis hits Pimco Fund, wipes out options as ruble sinks

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From Newsmax After the single worst day in Russia’s nine-month-old financial crisis, the fallout is spreading across global markets. Pacific Investment Management Co. is facing mounting losses on its Russian bond holdings; almost every bullish ruble option contract registered in the U.S. has been made worthless; and foreign-exchange brokers in New York and London told […]

Marijuana growers sprout on Wall Street as pot goes public

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By Andy Fixmer From Mashable Derek Peterson may soon become the first CEO of a public company that cultivates, distributes and sells marijuana. Terra Tech Corp., based in Irvine, California, won approval last week from the Securities and Exchange Commission to raise $6.8 million to build and operate medical marijuana operations in Nevada, where the […]

Challenges mushroom for embattled HDG Mansur chief [and Cayman Islands funds]

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By Greg Andrews From IBJ Most of the real estate developers who have left a big stamp on Indianapolis have had an audacious streak. That was certainly true of Mansur principals Harold Garrison and Cornelius Alig, whose headline-grabbing projects downtown included construction of Market Tower and the redevelopment of Lockerbie Marketplace and the Omni Severin […]

Beastie Boys fight to keep $1.7 million Monster Energy award

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By Marc Hogan From Wandering Sound Way back when the Beastie Boys were young upstarts getting censored on American Bandstand and banned for trashing Holiday Inn suites, anyone who predicted they’d be spending much of their future in courtrooms probably had a very different idea. This year alone, the pioneering New York rappers have settled […]

Barclays Moves to Dismiss AG’s Suit Over ‘Dark Pools’

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By Suevon Lee, New York Law Journal Barclays is challenging the authority of New York’s top lawyer to sue the bank for fraud over allegedly deceptive statements it made to investors concerning high frequency trading in its “dark pool,” or private stock exchange. Attorney General Eric Schneiderman filed civil fraud claims against the bank last […]

Two sides trade jabs in debate over Major League Soccer stadium at PortMiami

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By Patricia Mazzei From Miami Herald Miami-Dade County got a peek Sunday at the acrimony it can expect over the next weeks and perhaps months as two sides faced off in a testy debate over potential Major League Soccer stadium at PortMiami. John Alschuler, the New York-based real-estate adviser for David Beckham, the retired English […]

To evade taxman, hop on a bike [don’t stash cash in Caymans]

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By Catey Hill, MarketWatch Sen. Chuck Schumer proposes tax break for bike commutes What does using a bike-share program have in common with stashing cash in the Cayman Islands? Both may soon be tax shelters. U.S. Senator Chuck Schumer (D-New York) said Tuesday he’s introducing an amendment to a tax bill that would allow workers […]