Investors in an Everett-based water vending machine company claim they were bilked out $130 million in what their lawyers in a lawsuit filed last month call a Ponzi scheme. WaterStation Technology, founded in 2013, advertised water-bottle filling stations that could be installed in “revenue-generating locations” such as grocery and convenience stores to prospective investors across
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Howard Schultz, the former Starbucks chief executive, is opposing a potential settlement between the company and activist investor Elliott Investment Management, in the latest sign of tension at the world’s largest coffee chain. The quasi-founder
New York-based Trian Partners, a high-profile hedge fund and multi-billion dollar investment management firm, is buying up shares in Minnesota’s Solventum, the spinoff of 3M’s health care business, and says its investment will push the company toward accelerated growth. “Trian believes the company can unlock its potential through re-accelerating organic growth, restoring margins while investing
A group of people who invested in a Pembroke Pines aviation sales company say the former president of the business isn’t holding up his end of the deal. On Tuesday afternoon, four people met outside Premier Aviation Sales Inc. to demand answers and try and get their money back. “It’s all lies,” said Rosa Monert,
Markets on Wall Street logged losses in early trading Wednesday as the tech sector was dragged down by some uninspiring earnings from high-profile companies. Futures for the S&P 500 slipped 0.9% before the bell and futures for the Dow Jones Industrial Average fell 0.5%. The tech-heavy Nasdaq tumbled 1.3%. Electric vehicle maker Tesla’s second-quarter net
By Amanda Cooper and Brigid Riley LONDON/TOKYO (Reuters) – Japanese official buying to defend the yen is fast becoming a standard feature of the FX landscape in 2024, but authorities in Tokyo have switched up their methods, making it even trickier for investors to second-guess when and how they might step in. The novel intervention
Last week, StoneX, the Nasdaq-listed provider of digital marketplaces and clearing and execution services across commodities, foreign exchange and securities,announced LoanMatch. This is a new dark pool for anonymous dealing in European syndicated loans, which is due to go live in September. Investors will be able to enter buy and sell orders in any given
By Helen Reid and Mimosa Spencer LONDON/PARIS (Reuters) – Europe’s top asset manager Amundi and other LVMH investors want the $370 billion luxury behemoth controlled by billionaire Bernard Arnault to take more aggressive steps to monitor its suppliers’ treatment of workers after Italian prosecutors disclosed alleged sweatshop-like conditions at subcontractors for high-end brand Dior, three
Angle down icon An icon in the shape of an angle pointing down. In Tuesday’s earnings call, investors repeatedly asked Alphabet executives for data about the rate of return on AI projects but received little information in response. Beck Diefenbach/Reuters Google’s parent company, Alphabet, had its earnings call on Tuesday, reporting mixed results. During the
Alphabet on Thursday delivered largely better-than expected earnings results that showed the search and cloud giant is finally on better footing in the fast-growing AI space. Total revenue in the three months ended June 30 rose 13.6% year over year to $84.74 billion, outpacing the $84.19 billion expected, according to estimates compiled by data provider