Citi fined over robo-signing in consumer bankruptcy cases

Citigroup C, -0.42% agreed to pay $5 million to settle claims over robo-signing in tens of thousands of bankruptcy cases. The Justice Department’s U.S. Trustee Program said tens of thousands of proofs of claim were filed in bankruptcy cases across the country that were improperly signed by employees of a third-party vendor who had not reviewed and/or lacked knowledge of […]

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Lowest Number of Hedge Fund Closures Since Before the 2008 Crisis

In at least one respect, the financial world is back to where it was before the 2008 crisis. A total of 125 hedge funds liquidated in the three months through June of this year, according to data provided by Hedge Fund Research (HFR). The second quarter of 2018 marked the fourth consecutive quarter in which hedge fund launches exceeded fund […]

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Eddie Lampert pushes plan for Sears to avoid bankruptcy

Eddie Lampert is really sounding the alarms. The hedge fund mogul and largest shareholder in Sears Holdings claims that “Sears now faces significant near-term liquidity constraints” that can only be avoided if the company’s board approves a restructuring plan Lampert is proposing. The alternative, he implied in a regulatory filing, is a bankruptcy filing. Lampert, who is the retailer’s chairman […]

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Interactive Brokers Adds Features to IBKR Mobile

Interactive Brokers has added new products to its popular IBKR Mobile application. Account holders can now examine key performance metrics of an options or complex options strategy through Performance Profile. In addition, a new Order Reset function lets traders set templates for frequently used order values to speed up the order entry process. The broker is holding this information in the […]

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Where Have We Seen an Oil Market Like This Before?

Almost nothing that happens in the global oil markets is unprecedented. The latest development that comes close was the agreement between the Organization of the Petroleum Exporting Countries (OPEC) and Russia to cooperate on production quotas in the hope of lifting the price of crude. What happened over the past weekend could have been a diary entry written by an […]

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Sirius XM to buy Pandora for $3.5 billion

Satellite radio firm Sirius XM Holdings will buy music streamer Pandora Media in a $3.5 billion all-stock deal, as it seeks to build scale to battle heavyweight streaming rivals Spotify and Apple Music. Sirius XM, controlled by media mogul John Malone’s Liberty Media, has built a name supplying more than 175 channels to car drivers, but has largely trailed Pandora […]

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Apple Seeks Content Without Excessive Sex, Violence or Profanity: Report

Apple Inc. (AAPL) has informed Hollywood that it has no intention of commissioning original shows with mature content, according to The Wall Street Journal. The newspaper, citing producers and agents, claimed that the Cupertino, California-based company spiked a show about hip hop artist Dr. Dre’s life because it was too violent. Apple’s rejection of “Vital Signs,” which contains scenes of drug use, an extended […]

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Unemployment Still High in Several Poor States

The unemployment rate dropped to 3.9% in August, as the economy added 201,000 jobs. The continues a trend of labor improvement that goes back to 10% levels during the Great Recession. However, several states continue to have a jobless rate higher than the national average, and most of these states are poor. The jobless rate was at or over 5% […]

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Common Diversification Mistakes and How to Fix Them

Diversifying is one of the most basic rules when investing. It’s the “don’t put all of your eggs in one basket” strategy. The basic thought process behind diversifying your investments is if you spread your investments around, you’ll reduce the risk of losing money because when one of your holdings moves lower, another is likely moving higher. For example, bonds usually […]

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