In a high-stakes gamble, Wall Street hedge funds are offering to buy claims that insurers may have against Southern California Edison if the utility is found liable for causing the devastating Eaton fire in Altadena. The solicitations are legal, but have alarmed California state officials — who loathe the idea of investors profiting from a
A new Tax Court ruling is a warning for U.S. limited partners in global funds, imposing new … More self-employment (SECA) tax risks. U.S. limited partners in foreign funds like Cayman or Luxembourg partnerships must ensure passive roles to avoid costly SECA tax liabilities. getty The U.S. Tax Court decided Soroban Capital Partners LP v.
Billionaire investor Warren Buffett’s Berkshire Hathaway heavily sold banking shares in Q1, according to a 13f filing with the US Securities and Exchange Commission. The Oracle of Omaha sold all shares of Brazilian bank Nu Holdings, which has its own crypto platform. He disposed of 40.18 million shares of the bank during the quarter that
A career in finance offers many benefits: It tends to pay well, is prestigious, and can lead to a jet-setting lifestyle. Breaking in, however, can require years of toil, planning, and determination. Say you want to be an investment banker who advises tech giants on corporate acquisitions: You will probably want to start applying for