Monthly Archives: May 2021
Dow futures drop 100 points after Wall Street’s worst week since February
(CNBC) Stock futures slipped in overnight trading on Sunday following last week’s sell-off triggered by inflation jitters. Futures on the Dow Jones Industrial Average fell 102 points. S&P 500 futures and Nasdaq 100 futures both also traded in negative territory. […]
Hedge funds continue winning ways in April, says eVestment
(Hedgeweek) Hedge fund performance was broadly positive in April, with 85 per cent of funds reporting to eVestment seeing positive performance figures and the industry as a whole posting a return of +2.61 per cent for the month, according to […]
SPACs market re-groups under closer scrutiny
(Hedgeweek) Following a year of high exuberance, the market for special purpose acquisition companies (SPACs) has slowed since peaking in mid-February 2021. Now, with the US Securities and Exchange Commission (SEC) changing accounting rules and vowing to keep a close […]
Texas Investment Adviser and Three Individuals Charged with Defrauding Advisory Clients and Retail Investors
(HedgeCo.Net) The Securities and Exchange Commission has charged Katy, Texas-based investment adviser Knight Nguyen Investments and three individuals with scheming to invest funds from advisory clients and retail investors in at least five fraudulent securities offerings. The SEC alleges that […]
State Street to pay $115 million criminal fine for overcharges – U.S. Justice
(Reuters) State Street Corp agreed to pay a $115 million criminal penalty and enter a deferred prosecution agreement to resolve charges the bank defrauded customers by secretly overcharging them for back-office expenses, the U.S. Department of Justice said on Thursday. […]
Coinbase revenue tripled from last quarter as crypto prices skyrocketed
(CNBC) Coinbase shares were up about 3% in after-hours trading Thursday, after reporting that revenue and net income skyrocketed in the first quarter of 2021 as the cryptocurrency trading platform capitalized on a boom in crypto prices and corresponding interest […]
Hedge funds eye crypto volatility after Tesla shelves bitcoin payments amid ESG concerns
(Hedgeweek) Crypto hedge funds remain well-placed to capitalise on bitcoin’s volatile price moves, after Tesla CEO Elon Musk’s decision to suspend bitcoin payments sent the coin’s value plummeting this week. To read this article:
The IRS goes after crypto holders with John Doe summonses
(Opalesque) The IRS has several tools in its arsenal to encourage compliance and audit and enforce those it believes are failing to comply. One of the most powerful tools is the John Doe summons. A regular IRS summons seeks information […]
Investors have lost faith in Airbnb’s model, trader says with stock down nearly 40% from highs
(CNBC) Shares of Airbnb are down 36% from their February highs following the vacation rental company’s earnings announcement after Thursday’s closing bell. Airbnb’s revenue grew 5% in the first quarter, the company said in its second report since going public […]
SS&C GlobeOp Hedge Fund Performance Index returned 2.04 per cent in April
(Hedgeweek) The gross return of the SS&C GlobeOp Hedge Fund Performance Index for April 2021 measured 2.04 per cent. To read this article:
Tesla stops taking Bitcoin for vehicle purchases, citing environmental harm
(The Verge) Tesla has stopped accepting bitcoin as payment for its cars out of concern that it will contribute to greater consumption of fossil fuels, according to a statement CEO Elon Musk tweeted Wednesday. Tesla had only just started accepting […]
Knighthead, Certares seen as winners of Hertz bankruptcy auction
(Reuters) Investment firms Knighthead Capital and Certares Management appear to have won an auction to fund U.S. car rental firm Hertz Global’s exit from bankruptcy, according to a Bloomberg News reporter’s tweet bit.ly/3oid2K8 on Wednesday. The firms along with private […]
