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  • Breaking news

Principal content

Fortress surges on market debut

Shares in Fortress, the private equity and hedge fund manager, soared in their New York debut, nearly doubling in early trading, as some observers compared the event to the dotcom frenzy of the late 1990s.

LSE set to see off Nasdaq

Shares close above offer price

Sanofi-Aventis loses US court case

Decision a breakthrough for generic rivals

Related content and features

Alcatel-Lucent to cut 12,500 jobs

Fourth-quarter loss of €618m

Khodorkovsky ‘laundered $23bn’

New charges could add 10 years to jail term

British Muslims charged with kidnap plot

Five others face terrorism charges

Russia tightens grip on BP gas venture

Violation of terms to develop Siberian field

Russians accuse US of military expansion

A chill descends on relations

Israeli police break up al-Aqsa protest

Palestinians allege takeover over holy site

Lex

Fortress

If you are going to build something in the air, pick a moniker that invokes confidence. Even Fortress must be surprised by the mad scramble for its shares.

7 days

News Review

A week in review

Blackstone trumped Vornado in the battle for Equity Office Properties, securing the US group for $38.9bn. It is the largest leveraged buy-out on record: FT.com reviews the top stories from the past week.

Markets

Essen haunted by spectre of yen

Ivar Simensen

As the Group of Seven’s finance ministers gather in Essen, anyone with shares in a German blue-chip company should keep a close eye on proceedings.

Comment

Licensed to curb a retail leviathan

Christopher Caldwell

The evidence that Wal-Mart is sexist looks feeble, but there is
a pervasive sentiment that it needs to be taken down a peg, writes Christopher Caldwell

America’s striving general

US and Iraq flag

When a US army officer receives his fourth star, it would normally be a crowning moment. But the circumstances around the promotion of General David Petraeus were anything but normal.

House & Home

‘I have a heart-felt aesthetic’

Giorgio Armani

Giorgio Armani, 73, is the president and chief executive of the eponymous fashion and lifestyle design house, which has 300 retail stores in 39 countries.


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