• Phil Falcone's Harbinger Capital Partners has taken a 4.9 percent stake in Cablevision. [NYP]
  • Nelson Peltz and his Trian fund has sold its stake in Starbucks. [Bloomberg]
  • Hedge fund Turnberry Capital Management plans to shut down. [Reuters]
  • Bill Ackman may hold out for more in CVS Caremark's acquisition of Longs Drugs Stores for $2.54 billion. [Dealbook]
  • Merrill Lynch has imposed a hiring freeze through the end of this year. [Bloomberg]
  • Yahoo will add the former CEOs of Viacom and Nextel Partners to its board as part of a deal with dissident shareholder Carl Icahn. [NYT]
  • New Hampshire securities regulators have accused a division of UBS of fraud. [WSJ]
  • KKR and top partners like Henry Kravis and George Roberts collected $1.3 billion in 2007. [The Deal]
  • It's been a "cruel summer for Apollo" and Leon Black. [WSJ]