Monthly Archives: April 2020
Wells Fargo caps role in coronavirus rescue program at $10 bln
(Reuters) – Wells Fargo & Co said late Sunday that it will cap its participation in the U.S. government’s small business coronavirus rescue program at $10 billion due to regulatory constraints. The $350 billion loan program, which launched on Friday, […]
Stocks are set to jump, with Dow futures pointing to a more than 700 point opening gain
(CNBC) U.S. stock futures rose on Sunday night as Wall Street tried to recover from another decline last week while investors shook off rising tensions between Saudi Arabia and Russia. Dow Jones Industrial Average futures traded 696 points higher, implying […]
Coronavirus Pandemic to cut down private equity’s long-term return multiples by 10%
(Opalesque) Private equity funds are expected to face a 10% hit to returns from Coronavirus Pandemic, revealed a study. Simulations for 2020 and 2021 also forecast liquidity stress in the industry, it said. According to a new study by investment […]
Plunge in Global VC funding activity due to coronavirus outbreak
(Opalesque) The number of venture capital (VC) funding announced deals declined by 22.5% during the week ended March 29, 2020, compared to the previous week, said a study. According to GlobalData, the subdued funding activity has been continuing in the […]
Biotech VC firm Flagship Pioneering raises $1.1bn for latest fund amid pandemic
(Opalesque) Massachusetts-based venture capital firm Flagship Pioneering managed to raise $1.1 billion for its seventh “origination fund” to support biotech startups, despite the economy is being disrupted by the COVID-19 pandemic. The VC firm specializing in company creation started biotech […]
SEC Awards Approximately $2 Million to Whistleblower
(HedgeCo.Net) The Securities and Exchange Commission has announced an award of approximately $2 million to a whistleblower who provided vital information and assistance that substantially contributed to an ongoing investigation. The whistleblower’s information would have been difficult for the agency […]
Agencies Will Consider Comments on Volcker Rule Modifications Following Expiration of Comment Period
(HedgeCo.Net) Five federal financial regulatory agencies on Thursday announced that they will consider comments submitted before May 1, 2020, on their proposal to modify the Volcker rule’s general prohibition on banking entities investing in or sponsoring hedge funds or private […]
Coronavirus is unleashing an ‘economic shock wave’ not felt since the 1930s, hedge fund manager Mark Yusko warns
(CNBC) Hedge fund manager Mark Yusko is telling investors to brace for a nearly once in a lifetime downturn. The Morgan Creek Capital Management CEO and CIO sees the Great Depression as the closest comparison to what’s happening to the […]
Stock futures lower as indexes head for modest weekly losses
(CNBC) Dow Jones Industrial Average futures fell 142 points, implying an opening loss of about 141 points. S&P 500 and Nasdaq futures also pointed to losses. Earlier on, futures had pointed to Friday opening gains for the three indexes. To […]
Money managers with high leverage under the most pressure from pandemic
(Opalesque) Money managers with high leverage and outsized exposure to equity-oriented strategies will come under the most pressure from market impacts caused by the coronavirus pandemic. According to Fitch Ratings, the assets under management (AUM), earnings before interest, tax, depreciation, […]
Brace for the ‘deepest recession on record,’ says BofA analysts
(Marketwatch) There are no parallels for the pandemic fueled slowdown that the U.S. economy is currently contending with, and that is forcing economists like those of Bank of America Global Research to forecast a decidedly grimmer outlook for the American […]
Chanos says he is still ‘maximum short’ Tesla even with drop in last month
(CNBC) The founder of hedge fund Kynikos Associates and well-known short seller Jim Chanos said Thursday that he is still betting against Tesla, even after the electric automaker’s stock fell dramatically in the past month. To read this article:
