Trump could take billions from disaster areas to fund border wall

Under the proposal, Trump could dip into money set aside to fund civil works projects all over the country including storm-damaged areas of Puerto Rico.
Economy

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As FAANG stocks falter, fund managers make bets on survivors

A bear market in the so-called FAANG stocks – Wall Street’s most popular trade going into the year – is pushing fund managers into searching for the next big growth companies that can lead the overall market higher.


Reuters: Technology News

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120% Lino Eyes International Growth With Made in Italy Fund

MILAN — Italian label 120% Lino, which is focused on the production of men’s and women’s collections crafted from linen, is going through a re-branding phase aimed at boosting the company’s international business.
Founded in the Eighties by Italian entrepreneur Alberto Peretto, 120% Lino was acquired this fall by private equity Made in Italy Fund, which holds 70 percent of the brand. The remaining 30 percent is still in the hands of Peretto, who also oversees the label’s creative team.
“We decided to acquire 120% Lino because we were intrigued by the fact that it is deeply focused on a single material,” said 120% Lino chief executive officer Mauro Grange, who is among the partners of Made in Italy Fund, a private equity controlled by Q Group and Pambianco. “We also appreciated that the brand was already well-positioned on the international markets with its own retail network.”
Distributed in the affordable luxury segment, 120% Lino already operates two stores in Milan and five stores in Florida. “In the U.S., which accounts for 40 percent of the company’s business, the brand is extremely well-positioned and its perception is very high.”
According to Grange, the U.S. will continue to be a point of reference for the brand, which expects

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EXCLUSIVE: Natalia Vodianova and LuisaViaRoma Throw Fabulous Fund Fair in London

Natalia Vodianova’s Naked Heart Foundation has teamed with online luxury fashion web site LuisaViaRoma for her latest installment of the annual Fund Fair.
Slated to take place in London at Roundhouse on Feb. 18, the event takes inspiration from filmmaker Federico Fellini’s “La Dolce Vita,” for its fifth year in the U.K. — and sixth overall.
The Fellini theme will be represented through an over-the-top set design at the English theater — complete with a Trevi Fountain. Guests, who in the past have included Hailey Baldwin and Taylor Swift, will try their hand at classic fair games like Hook-a-duck and bowling. Participating brands Louis Vuitton, Celine, Givenchy, Dior and more will have prizes on hand for the winners. There will additionally be live entertainment from Warner Music Group at the event.
Vodianova launched her foundation Naked Heart in 2004; since then, she has raised more than 40 million euros across the United States, U.K., Russia and France. The organization aims to support children with physical, mental and sensory disabilities through the initiation and support of various projects. Over the years, the Naked Heart Foundation has financed 18 projects across seven Russian cities, including a Family Support Centre in Nizhny Novgorod and summer and

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Hedge fund Elliott raises pressure on Mitek after takeover bid rejected

Hedge fund Elliott Management on Tuesday asked Mitek Systems Inc to scrap a so-called “poison pill” to let it buy more stock and said it may press for board changes after the software company took…


Reuters: Wealth

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‘We need to trust the decision-making’ of OPEC: Russian sovereign wealth fund

"I think we need to trust the decision-making of the joint body because they're not interested in artificially high oil prices," says the CEO of Russian Direct Investment Fund, Kirill Dmitriev.
Top News & Analysis

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Eddie Lampert’s hedge fund claims no ‘windfall’ from Sears demise

Think billionaire Eddie Lampert made a bundle off Sears’ demise? “Nothing could be further from reality.” That’s according to testily written court papers filed on Friday by Lampert’s hedge fund ESL Investments, which fired back at accusations that its deals to siphon off Sears assets over the past decade — from department stores to the…
Business | New York Post

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Kerby Jean-Raymond of Pyer Moss Wins the 2018 CFDA/’Vogue’ Fashion Fund

On Monday night, the 10 talented, hopeful finalists for the 2018 CFDA/Vogue Fashion Fund convened at the Brooklyn Navy Yard to celebrate the 15th anniversary of the program with a crowd of industry bigwigs, celebrities and style stars. After months of competition in the form of design-based …

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Fashionista

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