11/12: CBS Morning News 21:32 Italian authorities say a network of European art forgers who painted fake Warhols, Banksys and Picassos and then tried to sell them to unsuspecting buyers with the help of complicit auction houses has been dismantled. Thirty-eight people have been placed under investigation, including six in Spain, France and Belgium. Italian authorities say the network could have done 200 million euros ($212 million) in economic damage

(Bloomberg) — Spirit Airlines Inc. is closing in on a deal with creditors that would restructure its crushing debt load in bankruptcy court after discussions for a tie-up with rival Frontier Group Holdings Inc. fell apart. Most Read from Bloomberg In a filing late Tuesday, Spirit said it is in advanced talks with a super majority of its secured noteholders to hammer out a restructuring. That would be carried out

David Einhorn speaking in New York City on April 3, 2024. Adam Jeffery | CNBC Hedge fund investor David Einhorn’s cautious stance all year made his performance suffer as he navigated what he believes is the priciest stock market of his career at Greenlight Capital. Einhorn’s hedge fund returned just 9% in 2024 through the end of the third quarter, net of fees and expenses. That compares with the S&P 500′s

(Bloomberg) — China started marketing dollar bonds in Saudi Arabia, marking the country’s first debt sale in the US currency since 2021. Most Read from Bloomberg It’s offering the three-year and five-year securities with initial price guidance of about 25 basis points and 30 basis points over the respective US Treasury yields, according to people familiar with the matter. The Ministry of Finance said earlier this month that it plans

Detroit Historical Museum’s Toy Town exhibit is a trip down memory lane Detroit Historical Museum’s Toy Town exhibit is a trip down memory lane 03:00 My Little Pony finally made it to the winner’s circle. After years as an also-ran, the pastel-colored ponies were enshrined in the National Toy Hall of Fame on Tuesday, along with Transformers action figures and the Phase 10 card game. The honorees rose to the

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Traders work on the floor of the New York Stock Exchange.  NYSE There’s been a rush of enthusiasm on Wall Street regarding Donald Trump’s election win, but hedge funds actually generate more alpha when the White House is occupied by a Democrat president than a Republican one, according to HFR, collating data going back to 1991. When compared with the S&P 500, the industry underperformed regardless of who was president.

(Bloomberg) — Asian stocks fell to the lowest level in almost two months before US inflation data that may further sap confidence in the pace of Federal Reserve interest-rate cuts. Most Read from Bloomberg Equity benchmarks in Tokyo and Sydney retreated while the MSCI Asia Pacific Index dropped to the lowest since September after the S&P 500 declined on Tuesday. The Bloomberg Dollar Spot Index was steady, and the yen

New report raises health concerns about Lunchables New report raises health concerns about Lunchables 01:35 Kraft Heinz is pulling Lunchables — prepackaged boxes of deli meat, cheese and crackers — from the program that provides free and discounted meals to about 30 million low-income school children, the food conglomerate said on Tuesday. Consumer Reports applauded the move, months after the advocacy group sounded alarms about the product popular with kids,

President-elect Donald Trump was a frequent visitor to Michigan during the 2024 campaign.AP Photo/Alex Brandon Trump’s election win has sent the US stock market to fresh highs. Morgan Stanley says three risks could upend the ongoing Trump trade. The firm says investors should be closely monitoring bond yields and the US dollar. Equity investors have embraced Donald Trump’s return to the White House, but the post-election rally isn’t entirely risk-free.