spac

Hedge-fund billionaire investor Bill Ackman withdrew his plan to acquire a stake in Universal Music Group via his SPAC, expressing doubts the SEC would approve the deal.

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Hedge-fund billionaire investor Bill Ackman is getting a 10% share of one of the world's largest music companies, valued at $40 billion, and performing some Wall Street-styled gymnastics to do it.

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After a string of funding problems that have delayed the release of its first car, Faraday Future announced Tuesday that production would start by July 2022 at an assembly plant in Central California.

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