Alcoa to Separate Into Two Publicly Traded Companies
©2015 Bloomberg News NVDVOE6JIJUO (Bloomberg) — Alcoa Inc., the biggest U.S. aluminum maker, will split itself into two public companies. The first, which will keep the Alcoa name, will concentrate on mining and metal production. The second will focus on high- technology products. The transaction will be completed in the
Oil Declines as Chinese Industrial Data Signal Weakening Demand
©2015 Bloomberg News NVDWG76S972K (Bloomberg) — Oil halted its advance near $45 a barrel as lower Chinese industrial profits signaled demand may be weakening in the world’s second-biggest consumer. West Texas Intermediate futures fell as much as 2.1 percent after climbing 2.3 percent last week. China’s industrial-company profits dropped 8.8
Rating the 401(k) of Fund-Rater Morningstar: Barry Ritholtz
©2015 Bloomberg View NV6W2G6S972D (Bloomberg View) — Over the years, I have been critical of the way 401(k)s are created, administered and managed. They can be expensive and filled with underperforming actively managed funds, some of which charge way too much. Some retirement plans offer too little diversification, especially in
NHL Should Put Patrick Kane on the Bench: Kavitha A. Davidson
©2015 Bloomberg View NV773N6KLVRA (Bloomberg View) — The Patrick Kane rape investigation continues to get uglier. Even before the latest bizarre development, we were well past the time for the NHL to intervene and take the Chicago Blackhawks star off the ice. On Wednesday, the accuser’s lawyer told reporters that an
Pope Francis Teaches Congress How to Do Politics: Clive Crook
©2015 Bloomberg View NV7AWF6JTSEP (Bloomberg View) — In listening to the pope’s address to Congress, I was initially most interested to hear what he would say about capitalism. Would he remind the U.S. Congress that the unfettered pursuit of profit is “the dung of the devil”? Or would he be
Netflix-Lite Dream Merchant Wants to Make You a TV Millionaire
©2015 Bloomberg News NUU32K6KLVRL (Bloomberg) — Got an idea for a television show? Israeli Alon Dolev might just be your man. As chief executive officer and co-founder of the Tel Aviv- based TV Format Fund, Dolev, 43, has about $50 million to invest over the next five to seven years.
*Putin Said to Plan Islamic State Strikes With or Without U.S.
©2015 Bloomberg News NV58996JIJV3 (Bloomberg) — President Vladimir Putin, determined to strengthen Russia’s only military outpost in the Middle East, is preparing to launch unilateral airstrikes against Islamic State from inside Syria if the U.S. rejects his proposal to join forces, two people familiar with the matter said. Putin’s preferred
Planned Parenthood Says Carly Fiorina ‘Is Lying’ About Videos
©2015 Bloomberg News NV5NX06JTSEA (Bloomberg Politics) — Carly Fiorina’s challenge to Hillary Clinton and President Obama is itself being challenged. Planned Parenthood accused the Hewlett-Packard CEO of “lying” when she described the contents of an undercover video during the second Republican debate. “There is no polite way to say this: Carly
Want to Avoid U.S. Taxes on a Warhol? Keep Buying Art
©2015 Bloomberg News NNHRUH6K50YH (Bloomberg) — Chicago plastics manufacturer Stefan Edlis faced more than $20 million in U.S. capital gains taxes by selling his Andy Warhol painting to billionaire Steven A. Cohen eight years ago. He paid zero. Half of the proceeds from the $80 million sale of Warhol’s 1964
The Lone Jewish Republican in Congress Is Nostalgic for George W. Bush
©2015 Bloomberg News NNJ8N66JTSEM (Bloomberg Politics) — On Saturday night, former President George W. Bush made remarks at the spring meeting of the Republican Jewish Coalition behind closed doors, but some of his message trickled out. He argued against President Barack Obama’s planned course of action on Iran and expressed skepticism over the pending