Hedge fund manager William Ackman, who is betting $1.16 billion that Herbalife is a fraud, spent $264,000 last year on lobbyists to press his case against the company, according to government documents filed in recent weeks. That amount is dwarfed by the nearly $2 million Herbalife spent in 2013 on federal lobbying as the nutrition and weight loss company fought the billionaire investor's claims it runs a pyramid scheme. In October Ibarra Strategy Group began working for Pershing Square and earned $30,000 for the year, the filingshows. The group, founded by Mickey Ibarra, a former Director of Intergovernmental Affairs under President Bill Clinton, specializes in Latino outreach.
With China's leaders seeking to rebalance the world's industrial powerhouse more toward consumer spending, and with bad weather distorting most United States data since the start of the year, some clarity would be helpful. After private sector business surveys suggesting services activity around the world is on the up, investors and policymakers will shift their focus to industrial production figures for the euro zone, Britain, Japan and China. Industrial output growth in China, the world's second largest economy, is likely to have slowed further in January from 9.7 percent in December, hurt by weaker local and foreign demand. "China's export growth is likely to have softened in February after the surge in January due to the front-loading of exports before the Lunar New Year," said David Mann at Standard Chartered.
Five years ago, the United States was in the midst of its worst recession in seven decades, and stocks were feeling it. On this day in 2009, the S&P 500 hit its nadir, closing at 676.53. That low marked a climax of a 16-month selloff that took more than half the S&P 500's value. Naturally, some investors are questioning whether the bull run is nearing an end.