Monthly Archives: February 2023
Crypto markets are undergoing a ‘flight to quality,’ says Goldman Sachs digital assets chief
(CNBC) Last year’s havoc in the cryptocurrencies space has allowed for a “flight to quality” among crypto investors, Mathew McDermott, Goldman Sachs’ global head of digital assets. “We do have a crypto trading desk at the firm,” he said, noting […]
Kraken to Discontinue Unregistered Sale of Crypto Asset Staking and Pay $30 Million to Settle SEC Charges
(HedgeCo.Net) The Securities and Exchange Commission has charged Payward Ventures, Inc. and Payward Trading Ltd., both commonly known as Kraken, with failing to register the offer and sale of their crypto asset staking-as-a-service program, whereby investors transfer crypto assets to […]
Stock futures are flat as investors assess latest earnings reports: Live updates
(CNBC) U.S. stock futureswere little changed on Thursday night. S&P 500 futures gained 0.05%, and Nasdaq 100 futures added 0.08%. Futures linked to the Dow Jones Industrial Average gained 1 point, or 0.003%. Several companies reported earnings after Thursday’s trading […]
Yahoo to lay off 20% of staff by year-end, beginning this week
(CNBC) Yahoo will lay off more than 20% of its workforce by the end of 2023, eliminating 1,000 positions this week alone, the company said in a statement Thursday. Private equity firm Apollo Global Management acquired 90% of Yahoo from […]
Lyft shares tank 30% after company issues weak guidance
(CNBC) Lyft shares fell more than 30% during after-hours trading after issuing weak guidance in its earnings report on Thursday. Here are the key numbers Lyft reported for its fiscal fourth quarter of 2022: Adjusted loss per share: 74 cents […]
Multi-manager returns come at a cost, says Barclays
(Hedgeweek) A record of consistently high returns is allowing multi-manager hedge funds to command expenses fees three times higher those charged by their traditional single-manager fund peers, according to a report by Reuters. To read this article:
Citadel leads early 2023 hedge fund gains
(Hedgeweek) Citadel, the hedge fund firm founded by Ken Griffin, has extended its 2022 winning streak, which saw it chalk up a record $16 billion annual gain, into January, with the firm’s flagship Wellington fund posted a 2.08% increase during […]
Alphabet shares fall 7% following Google’s A.I. event
(CNBC) Shares of Google’s parent Alphabet closed down more than 7% on Wednesday after the company held an event that promoted its new artificial intelligence chatbot called Bard, one day after competitor Microsoft held its own event to show off […]
Disney to cut 7,000 jobs and slash $5.5 billion in costs as it unveils vast restructuring
(CNBC) Disney said Wednesday it is planning to reorganize into three segments, while also cutting thousands of jobs and slashing costs. The media and entertainment giant said it would now be made up of three divisions. To read this article:
Robinhood board approves plan to buy back Sam Bankman-Fried’s $578 million stake
(CNBC) The board of directors of Robinhood has approved a plan to buy up to 55 million shares bought by Sam Bankman-Fried last year. The ex-CEO of the now bankrupt crypto exchange FTX originally purchased his stake in May 2022 […]
SEC to increase scrutiny of crypto-trading firms and ESG funds in 2023
(CNBC)The Securities and Exchange Commission will increase its scrutiny of crypto-trading firms and investment advisors as well as Environmental, Social and Governance — or ESG — funds, among other issues on its list of top oversight priorities for 2023. The […]
JPMorgan lays off hundreds of mortgage employees, source says
(CNBC) JPMorgan has cut hundreds of mortgage employees, a source familiar with the matter told Reuters on Wednesday, hours after the company announced plans to hire some bankers. “We regularly review our business and customer needs and adjust our staffing […]
