Here’s what’s been happening on Wall Street overnight

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Facebook getting back into news business

Facebook is getting back into the business of having employees make decisions about news organisations and stories – including about their credibility – something company leaders including Mark Zuckerberg have previously renounced.

The company has open job listings for two “news credibility specialists,” one of which would be required to be able to speak, read, and write fluently in Spanish. The jobs, which Facebook listed within the last few weeks, would be contract positions, rather than full-time, but would be based in Menlo Park, California, site of Facebook’s headquarters.

Key departure at Tourbillon

A founding partner has resigned from the struggling hedge fund Tourbillon Capital Partners after six years at the firm.

Amy Zipper, the chief operating officer and president at Tourbillon Capital, left last week, several people familiar with the matter said.

Before Tourbillon, Zipper worked at Carlson Capital in business development, according to her LinkedIn page. Tourbillon’s founder, Jason Karp, was previously a co-chief investment officer at Carlson.

Crypto risks abound

If at first you don’t succeed, try, try, and try again. That appears to be VanEck’s strategy when it comes to bitcoin-linked investments.

The asset manager has, for the third time, filed with the Securities and Exchange Commission a bitcoin exchange-traded fund, the company announced earlier this week. It is partnering with blockchain firm SolidX on the fund.

But one market structure expert is calling the fund’s filing “laughable.”

More drama at Allergan

A handful of large Allergan shareholders are privately discussing bringing back former Allergan chief executive David Pyott in a chairman role, according to people familiar with the matter.

Billionaire investor David Tepper’s hedge fund Appaloosa Management and Senator Investment Group on Tuesday called on the Botox-maker’s board to split chief executive and chairman roles at the company which are both currently held by Brent Saunders. Carl Icahn has also taken a stake in the company, according to Bloomberg.

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