Hedge Fund's Assets Fall by 95%

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London-based bond-trader Mako Investment Managers was a star performer in 2008, but assets under management of its flagship Pelagus Capital Fund have fallen 95% since the end of 2012.

Intel, Micron Claim Memory-Chip Breakthrough

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Intel and Micron say they developed a new breed of memory chips that could bring dramatic performance gains to computers, smartphones and other kinds of high-tech products.

NantKwest Shares Pop in Debut

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Shares of immunotherapy biotech company NantKwest opened at $37 in their trading debut, 48% above their initial public offering price.

Honeywell Pays $5.1 Billion for German-Based Elster

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Honeywell has agreed to buy German-based energy and water business Elster Group from the U.K.’s Melrose Industries for £3.3 billion ($5.1 billion) in cash.

BP Still Needs to Drill Business for Cash

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BP has been active in cutting in response to the lower oil price environment. Its mixed success just reflects the challenge for the oil and gas sector.

U.S. Consumer Confidence Falls

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Consumers unexpectedly took a dimmer view of the U.S. economy this month. The Conference Board research group said its index of consumer confidence fell to 90.9 in July from a revised 99.8 in June.

Smaller Chinese Cities Miss Housing Recovery

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Housing markets in some big Chinese cities are starting to heat up, but smaller markets like Changchun in northeastern China show few signs of thawing.

In India, a GIFT Waiting to Be Opened

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India’s Prime Minister Modi conceived of the Gujarat International Finance Tec-City, or GIFT, more than seven years ago. But the ambitious project has seen only halting progress.

UPS Earnings Surge, Led by International Segment

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United Parcel Service reported earnings that came in better than expected as all three of its main segments saw improved operating profit despite falling revenue.

Some Investors Bet on Puerto Rico Hotels

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Puerto Rico’s worsening debt crisis has whet the appetite of a small but devoted group of distressed investors, including hedge-fund manager John Paulson, who are buying hotel properties.

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