Energy XXI Ltd. and SandRidge Energy Inc., oil and gas drillers with a combined $7.6 billion of debt, didn’t pay interest on their bonds last week. They have until the middle of next month to either pay the interest, work out a deal with their creditors or face a default that could tip them into […]
The stock market decline in 2016 has accounted for $2.3 trillion in investor losses from the market’s top last year and $1.5 trillion in net wealth just this year. The giant companies that predominantly populate the Standard & Poor’s 500 have fallen an average of 8.9% this year. The S&P 500 is down 8% this year already […]
Oregon based Aequitas Capital Management appears to be in in a state of collapse. On Saturday, the Oregonian detailed accusations from Chris Bean, principal of Redmond, Wash.-based Private Advisory Group, who accused the private equity and alternatives platform of “misleading him” with an optimistic portrayal of the company’s finances. According to the Oregonian, investors had almost $600 […]
The Securities and Exchange Commission charged Nathan Halsey and TexStar Oil, Ltd. in the United States District Court for the Northern District of Texas, with fraudulently offering securities through misleading investment materials and keeping funds from investors who believed they were investing in an entirely separate company. The SEC’s complaint, filed in the U.S. District […]
In the latest downsizing move by a big bank, Wells Fargo has started cutting jobs this week in its securities unit, including positions in Charlotte according to reporting by The Charlotte Observer. The displaced employees include managing directors – high-level jobs that can draw seven figures in compensation, the sources said. The Wells Fargo unit […]