Monthly Archives: March 2017
Gold Holds Steady on Safe-haven Demand, Weaker Dollar
(Reuters) Gold was little changed on Monday, supported by safe haven interest amid rising geopolitical tensions over North Korea and a weaker dollar. Investors are closely watching developments after the reclusive state fired four ballistic missiles into the sea off Japan’s northwest coast, days […]
China Cuts Growth Goal, Puts Focus on Reform and ‘Firewall’ Against Risks
(Reuters) China has cut its growth target this year as the world’s second-largest economy pushes through painful reforms to address a rapid build-up in debt, and erects a “firewall” against financial risks. China aims to expand its economy by around […]
Deutsche Bank To Raise 8bn Euros, Plans Major ReorganizationDeutsche Bank To Raise 8bn Euros, Plans Major Reorganization
(Reuters) Deutsche Bank plans to raise capital, list its asset management business and overhaul its business structure as it tries to reinvent itself after spending two years dealing with its past misdeeds and huge losses. The strategic revamp, decided at […]
Homebuilder Charged in $3.3 Billion Accounting Fraud
(HedgeCo.Net) Desarrolladora Homex S.A.B. de C.V. has agreed to settle charges that it reported fake sales of more than 100,000 homes to boost revenues in its financial statements during a three-year period. The SEC alleges that Homex, one of the […]
Bridgewater’s Dalio Stepping Down From Co-CEO Position
(Reuters) – The world’s largest hedge fund manager, Bridgewater Associates, is once again changing its leadership structure as part of a 10-year transition plan led by founder Ray Dalio. Dalio, a billionaire with influential macroeconomic views, will no longer serve […]
Marijuana Helped the World’s Top Hedge Fund Gain 145%
(Bloomberg) Bets on marijuana companies helped an Australian manager soar 145 percent last year to become the world’s best-performing hedge fund. Stock and credit investments in North American marijuana producers contributed to 22 percentage points of last year’s gain for […]
In the Asset-Management Pressure Cooker
(Bloomberg) Behemoth investment firms, from Fidelity to Vanguard to BlackRock, are locked in fierce competition to attract assets, even if that means dropping their fees closer to zero. The result has been increasing strain…. To read the entire article, click […]
Private Equity Adviser Barred From Industry for Improper Withdrawal From Funds
(HedgeCo.Net) A private equity adviser has been permanently barred from the securities industry and must pay a $1.25 million penalty to settle charges that he withdrew improper fees from two private equity funds he managed. According to the SEC’s order […]
Arconic Names Former UTC Exec to Board Amid Proxy Fight With Elliott
(Reuters) U.S. specialty metals maker Arconic Inc said on Thursday it appointed former United Technologies Corp executive David Hess as an independent director on its board amid a proxy battle with hedge fund Elliott Management Corp. Arconic said Hess will […]
Top Avianca Shareholder Efromovich Says Deal With United ‘Will Happen’
(Reuters) Avianca Holdings SA AVT_p.CN top shareholder, German Efromovich, said on Thursday that a deal between Avianca and United Continental Holdings Inc (UAL.N) “will happen,” despite a lawsuit aimed at blocking the deal filed by the airline’s No. 2 shareholder […]
Investors See Snap’s IPO as ‘Too Big to Fail’
(Reuters) Institutional investors anxious not to be left out of this year’s marquee initial public offering helped Snap Inc pull off the biggest U.S.-listed technology share sale this week since Chinese e-commerce juggernaut Alibaba Group Holding Inc smashed records in […]
Africa’s Top Hedge Fund Starts Food-Focused Private-Equity Unit
(Bloomberg) Polar Star Management Ltd., which runs one of the best-performing African and Middle East hedge fund over the past five years, plans to start a private-equity unit that will invest in agriculture to exploit rising demand for food. The […]