Falcone Faces Five Year Ban From Hedge Fund Land

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Aug. 20 (Bloomberg) -- In today's "Movers & Shakers," Bloomberg's Betty Liu reports that billionaire hedge-fund manager Philip Falcone agreed to a tougher settlement with U.S. regulators that includes a longer ban from the securities industry and an admission of wrongdoing. (Source: Bloomberg)

Customers to amazon.

They have the store within a store concept.

Best buy is also trying to compete in price and customer service, but the real worry has been margins, that they would be cut so much that they would continue to lose money.

Margins came in at about 27%, better than estimates.

You mentioned the samsung store within a store.

Help a little is that -- how a little -- pi votal is that for best buy?

We know samsung rents the space and best buy does some of the marketing, but along with hewlett-packard and lg, they make up 45% of the sales.

Is the turnaround about sales or cost-cutting?

In this quarter, a combination of both.

Best buy is hoping to cut prices enough to stabilize sales which will increase margins.

Pretty much, all across the board.

They racked up $390 million in savings in the last nine months.

Rb c sees the potential for $300 million and saving over time.

The forms of the stock suggest investors are believers in the strategy, but there are concerns continued cost cuts might not be enough to offset margins and profit pressure that we might see.

Alix steel, thank you.

Alix steel, our markets reporter.

Lots of moving and shaking this morning, but this hour we are focusing on phil falcone.

The billionaire is many things, but he is not a quitter.

Accused of misappropriated assets to pay personal taxes, the maverick will remain ceo of his group.

He has agreed to settle with u.s. regulators by admitting wrongdoing, pay and $18 million fine and except a five-year -- accept a five-year ban from the hedge fund business.

He will be allowed to continue to manage light squared.

Coming up, a new cable news channel, fox takes on espn, and do not forget about the cbs blackout.

We'll talk all about that with media investor leo hindery.

This classic green bottle is not selling enough for heineken.

The solution for the beer sales -- lemonade.

This text has been automatically generated. It may not be 100% accurate.


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