Famed bond investor Bill Gross sued his former employer Pacific Investment Management Co and its parent Allianz SE for $200 million, saying he was driven out of the bond fund giant he helped found by a greedy "cabal" of executives who wanted his huge bonus for themselves. In a complaint filed on Thursday in the California Superior Court in Orange County, Gross said Pimco managing directors were "driven by a lust for power, greed, and a desire to improve their own financial position and reputation" in their ultimately successful plot to oust him. The lawsuit ratchets up the vitriol between Gross, 71, who now runs the Janus Global Unconstrained Bond Fund for Janus Capital Group Inc , and Pimco, which he had built over four decades into a $2 trillion U.S. bond fund company.
BRUSSELS (AP) — NATO talked tough Thursday about Moscow's expanding military activity in Syria, but the U.S.-led alliance's chief response to the Russian airstrikes and cruise missile attacks was a public pledge to help reinforce the defenses of member nation Turkey if necessary.
MINSK, Belarus (AP) — With a reporter's eye and an artist's heart, Svetlana Alexievich writes of the catastrophes, upheaval and personal woes that have afflicted the Soviet Union and the troubled countries that succeeded it. Her writings, characterized by plain language and detail so visceral it's sometimes painful to read, won her this year's Nobel literature prize.