Business

摘要

At a crowded hall in Manhattan, Bill Ackman, an activist hedge-fund manager, at last laid out his case alleging that Herbalife is a pyramid scheme. Mr Ackman has bet $1 billion shorting Herbalife's shares and spent $50m investigating its marketing practices. During his presentation he compared the company to Enron and Nazis, but the "death blow" he said he would deliver failed to pack a punch; Herbalife's share price rose by 25% by the end of the day. Deutsche Bank came under pressure, after the leak of a letter, written in December by the New York Federal Reserve, criticising its accounting reports in America as "unreliable". It is the latest instance of a big European bank falling foul of American regulators.