Struggling hedge funds still expense bonuses, bar tabs
Investors are starting to sour on the idea of reimbursing hedge funds for multi-million dollar trader bonuses, lavish marketing dinners and trophy office space. Powerful firms such as Citadel LLC and Millennium Management LLC charge clients for such costs through so-called "pass-through" fees, which can include everything from a new hire's deferred compensation to travel to high-end technology. Clients of shops that made money, including Paloma Partners and Hutchin Hill Capital LP, were left with returns of less than 5 percent partly because of a draining combination of pass-through and performance fees.
Gambia president-elect plans inauguration in SenegalDAKAR, Senegal (AP) ? Gambia's president-elect says he will be sworn in to office Thursday at the Gambian embassy in neighboring Senegal, as his country's political crisis continues.
Theresa May seeks to convince business UK won't close doors
DAVOS, Switzerland (AP) ? British Prime Minister Theresa May has sought to convince business leaders gathered at the World Economic Forum that the country remains committed to free trade and globalization.
Iran: 30 firefighters killed in collapse of Tehran high-rise
Gambia's president-elect says he will be sworn in to office Thursday at the Gambian embassy in neighboring Senegal.DAKAR, Senegal (AP) ? Gambia's president-elect says he will be sworn in to office Thursday at the Gambian embassy in neighboring Senegal. .
Russian court rejects Yukos shareholder compensationMOSCOW (AP) ? Russia's Constitutional Court says a European ruling to pay nearly 1.9 billion euros ($2 billion) in compensation to shareholders of the defunct Yukos oil company cannot be enforced.
'Dory,' 'Deadpool', DeGeneres win big at People's Choice awards
Los Angeles (AFP) - "Finding Dory" and "Deadpool" were the big screen's big winners at the People's Choice awards where comedian Ellen DeGeneres made history by taking home the show's most trophies over a career. Favorite movie and favorite family movie both went to "Finding Dory," Pixar's animated tale of a forgetful fish who is on a quest to find her parents. DeGeneres, who played Dory, won the award for favorite animated movie voice.
Defending champ Djokovic stunned by Istomin at Australian Open
Novak Djokovic suffered arguably the biggest defeat of his career when he crashed out of the Australian Open to 117th-ranked Uzbek Denis Istomin on Thursday, extending his mystifying slump in form. With Istomin inspired, the defending champion sent down 72 unforced errors as he lost 7-6 (10/8), 5-7, 2-6, 7-6 (7/5), 6-4 in the second round to end his bid for a record seventh title at Melbourne Park. In the women's draw, third seed Agnieszka Radwanska also became a major casualty when she lost 6-3, 6-2 to Croatian veteran Mirjana Lucic-Baroni.
Djokovic out in 2nd-round upset loss to Istomin in Australia
Novak Djokovic won't be setting the Australian Open record for most men's titles this year, after a shocking second-round loss to wild-card entry Denis Istomin. No. 2-ranked Djokovic had won five of the ...
Dollar bounces back, bond yields jump on Yellen's rate guidance
LONDON (Reuters) - The dollar rebounded, Asian shares slipped and government bond yields soared to multi-week highs on Thursday after U.S. central bank chief Janet Yellen signaled a path of steady interest rate increases for the world's largest economy.