Paul Singer's Elliott Management invests more than $2.5 billion in SoftBank
Friday, February 7, 2020, 7:46 AM
Billionaire investor Paul Singer's hedge fund, Elliott Management, has taken a more than $2.5 billion stake in SoftBank, CNBC has confirmed. The investment is being led by Singer's son, Gordon, a source told CNBC's David Faber. Top staffers from Elliott have met with SoftBank founder Masayoshi Son along with some of his deputies. SoftBank did not respond to CNBC's request for comment.
Dow plummets 600 points in worst day since August as coronavirus fears grow
Saturday, February 1, 2020, 8:28 AM
Stocks fell sharply on Friday, wiping-out the Dow Jones Industrial Average's gain for January, as investors grew increasingly worried about the potential economic-impact of China's fast-spreading coronavirus. The Dow dropped 603.41 points, or 2.1%, to 28,256.03 in the 30-stock average's worst day since August. The S&P 500 had its worst day since October, falling 1.8% to 3,225.52. The Nasdaq Composite dropped 1.6% to 9,150.94.
OPEC, Russia could meet to discuss emergency cuts as coronavirus crushes oil price
Saturday, February 1, 2020, 8:26 AM
OPEC and its allies could meet soon to discuss deepening their production cuts, in an effort to stem the sharp decline in oil-prices due to a demand scare from the coronavirus-outbreak. Oil has plunged 21.4% from the early January high when Iran launched rockets at U.S. military-bases in Iraq. West-Texas-Intermediate was at $51.59/barrel Friday, after trading as high as $65.65 in early January.