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Thursday, March 30, 2017

Ackman apologizes for Valeant losses, calls bet a mistake

BOSTON (Reuters) - Billionaire hedge fund manager William Ackman has apologized to clients for betting on Valeant Pharmaceuticals International Inc , telling them he was "deeply and profoundly sorry" for losing so much of their money on the investment.

Money and makeup: Beauty expert Bobbi Brown's life tips

NEW YORK (Reuters) - Need a master class on how to succeed as an entrepreneur? Just follow the career of Bobbi Brown, who went from waitress to makeup artist to the founder of a now-ubiquitous cosmetics line.

Of pretentious hedge fund names and bad results: James Saft

(Reuters) - You probably already knew that hedge fund names are intended to impress, or even better to confuse just enough to make you stop asking questions, but most of all to inspire confidence.

U.S. money market assets increased in latest week: iMoneyNet

NEW YORK (Reuters) - U.S. money market fund assets increased by $5.47 billion to $2.632 trillion in the week ended March 28, the Money Fund Report said on Wednesday.

BlackRock cuts fees and jobs; stockpicking goes high-tech

NEW YORK (Reuters) - BlackRock Inc on Tuesday said it would overhaul its actively managed equities business, cutting jobs, dropping fees and relying more on computers to pick stocks in a move that highlights how difficult it has become for humans to beat the market.

Wells Fargo to pay $110 million to settle lawsuit over account abuses

(Reuters) - Wells Fargo & Co said it agreed to pay $110 million to settle a lawsuit by customers challenging its opening of accounts without their permission, a practice that led to a scandal that cost the bank's chief executive his job.

SEC denies a second application to list bitcoin product

NEW YORK (Reuters) - The U.S. Securities and Exchange Commission on Tuesday denied for the second time this month a request to bring to market a first-of-its-kind product tracking bitcoin, the digital currency.

Bacardi family spirit: Remember your roots and be frugal

NEW YORK (Reuters) - Facundo L. Bacardi had little interest in joining the family business, which happens to be the largest privately held spirits company in the world, with a portfolio of more than 200 brands, including Bombay Sapphire, Grey Goose and Dewar’s.

Your Money - Being 26: A money checkup for biggest U.S. age group

NEW YORK (Reuters) - Callan Olive is about as adult as you can get for a 26-year-old.

Morgan Stanley rates Banco BTG Pactual stock 'overweight'

SAO PAULO (Reuters) - Grupo BTG Pactual SA's stock is undervalued based on its ability to outperform peer banks in Latin America, where investment-banking and asset management activities remain underpenetrated, analysts at Morgan Stanley & Co said on Tuesday.