Finance Insider is Business Insider’s midday summary of the top stories of the past 24 hours.
Hedge fund managers have the stage right now at the Ira Sohn Conference.
Carson Block of Muddy Waters Research just announced he is short Bank of Ozarks, sending the stock plummeting.
Billionaire hedge fund manager Jim Chanos revealed that he is still short Valeant, and that he is also short Tesla and SolarCity. He was asked about Tesla after it was reported that two of the company’s top executives are leaving.
Check back here for our continued coverage from the event.
Elsewhere in investing,
there is new theory for why fund managers have been getting walloped, and here is a list of the 24 stocks hedge funds love.
Credit Suisse has cut around 130 jobs in its global markets business in London, according to people familiar with the matter. Of the 130, about 80 are in fixed income, with the other 50 in equities, the people said.
Lastly, Americans are saving more — and it’s killing the economy.
Here are the top Wall Street headlines at midday:
Soon we’ll give people money to do nothing, whether Bill Gross likes it or not – Bill Gross thinks we have two choices: give money away or leave everyone screwed.
Here’s why major drugmakers are going after a relatively unknown biotech – There’s a new bidding war brewing in the drug industry.
US exchange ICE shelves plans for London bourse counter bid – The New York Stock Exchange’s owner shelved plans on Wednesday to gatecrash a merger between London Stock Exchange Group and its German counterpart.
Goldman Sachs nails the staggering size of China’s debt in 3 simple charts – Want to know why everyone is obsessed with China’s massive debt buildup?
These 4 things could rattle the global economy – After the darkness at the start to 2016, the world economy actually looks pretty good right now.
One of the hottest teen brands from a decade ago just filed for bankruptcy – Aeropostale used to be one of the most popular teen retailers.
The former CEO of AIG is set to make a killing on a multibillion-dollar deal – Private-equity firm Hellman & Friedman is in talks to buy health-insurance agency MultiPlan from Starr Investment Holdings.
17 ultra-expensive restaurants that are actually worth the price – At high-end restaurants, it’s easy to end up shelling out hundreds of dollars per person on lavish tasting menus and meticulous wine pairings