TopNews - Fortescue Metals Group Ltd said Tuesday that Chinese steel maker Hunan Valin Iron and Steel will pay 558 million Australian dollars (357 million US dollars) for a 16.5-per-cent stake in the Australian iron ore miner.

Under what’s known as a stand-still agreement, Valin will undertake to hold no more than 17.5 per cent of Fortescue.

Valin will buy 225 million newly issued shares and buy 275 million Fortescue shares from US-based hedge fund Harbinger Capital.

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Nashville Tennessean- A filing made with the Securities and Exchange Commission Thursday revealed another institutional investor who placed large bets on shares of Nashville-based Gaylord Entertainment as its stock price drifted to new lows almost two weeks ago.

New York-based hedge fund Eminence Capital LLC, headed by Ricky C. Sandler, disclosed that it acquired 2.8 million shares, or 6.9 percent, of Gaylord stock on July 14, the same day a Goldman Sachs downgrade sent the stock to its 52-week low of $19.30 per share.

The stock closed at $29.20 Thursday, up nearly 35 percent in the past 10 days, but still only trading at about half of its yearly high, reached last August.

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