Hedge Fund Managers Convicted of Insider Trading
Level Global Investors LP co-founder Anthony Chiasson and former Diamondback Capital Management LLC portfolio manager Todd Newman were convicted of securities fraud and conspiracy for an insider-trading scheme that reaped more than $72 million.
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Statoil Comfortable With Financial Situation, Says Saetre
18:55 - Statoil ASA, Norway’s biggest oil producer, reported its first adjusted loss following the plunge in crude prices that has roiled the industry for nearly two years. The company also deepened spending cuts. Adjusted earnings after tax, which excludes financial and other items, dropped to a loss of $28 million from a $929 million profit a year earlier, the Stavanger-based company said Wednesday. That missed the $294 million average estimate in a Bloomberg poll of 16 analysts. Statoil CEO Eldar Saetre tells Bloomberg's Anna Edwards and Manus Cranny on "Countdown" he's very comfortable with financial situation adding the oil price impact in line with expectations.