Wealth

Cary Kochman kicked off a sale process for U.S. printing services provider InnerWorkings Inc just as lockdowns to limit the spread of the novel coronavirus took effect in March.

Outsized bets on large U.S. technology companies and emerging cryptocurrencies fueled the year's top-performing U.S. mutual fund and exchange-traded funds as the coronavirus pandemic upended global markets, while funds that bet on oil and gas companies fell nearly 100%, according to data from fund-tracker Morningstar.

Companies can raise capital on the New York Stock Exchange through direct listings, without losing gains if their stock pops or forking out hefty fees to Wall Street banks, which typically underwrite such capital raisings, the U.S. securities regulator said on Tuesday.

U.S. policymakers need to consider major changes to make money market funds less vulnerable to investor runs, a working group led by the Treasury Department said on Tuesday, stopping short of making specific recommendations.

The so-called "stay-at-home" trade will not end next year even if the pandemic is defeated, according to managers of the top-performing U.S. mutual fund managers of 2020. They are continuing to bet on those stocks.

U.S. movie studio MGM Holdings is exploring a sale, a person familiar with the matter told Reuters on Monday.

A fund backed by Morgan Stanley Infrastructure Partners has made a cash offer to buy Germany's Tele Columbus AG in an agreed deal that values the fibre network operator at over 400 million euros ($487.84 million), Tele Columbus said.