AT&T has booked a $15.5 billion charge on its declining DirecTV satellite business, which has been losing customers as more people cancel their pay TV subscriptions. The telecommunications giant had been hoping to have reached an agreement to sell the business by end of last year, according to people familiar with the situation. AT&T paid $47.4 billion for DirecTV in 2015, but since then...
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Where Did All the Traders Go? Investment Funds Lean on Outsourcing to Cut Costs

More and more investment funds are outsourcing their trading, a move that cuts costs and aims to boost returns but also poses risks for the funds’ portfolios and underlying investors. Once a niche Wall Street business that catered to young hedge funds, outsourced trading has now attracted mutual funds, pension funds and other asset managers, including some of the biggest firms on Wall...
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