Bloomberg Top News

Bill Ackman Is Still Playing the SPAC Market — Just on His Terms

When billionaire investor Bill Ackman first proposed his riff on the SPAC — he wanted to slap an R in the middle of the acronym — few cared on Wall Street. This was mid-2021 and the SPAC market, where investors hand cash to a dealmaker hunting for a company to acquire, was just months removed from peak mania. So bankers weren’t too interested in contemplating a new flavor of SPAC that would add a layer of complexity.

Hedge Fund Sculptor Sued by Billionaire Founder Over Rithm Deal

Dan Och and a group of former executives of Sculptor Capital Management Inc. sued the hedge fund and proposed acquirer Rithm Capital Corp., saying the $676 million deal would shortchange investors in favor of protecting Sculptor Chief Executive Officer Jimmy Levin’s job.

Air France Plans to Abandon Orly Airport 

Air France’s decision to dramatically thin out its domestic network highlights a trend set in motion even before the pandemic upended travel behavior: aircraft are increasingly losing their competitive edge on shorter routes.