Monthly Archives: April 2018
HSBC Will Pay $100 Million to Settle Libor-Rigging Lawsuit
(Bloomberg) HSBC Holdings Plc agreed to pay $100 million to settle an antitrust lawsuit by over-the-counter investors, including the city of Baltimore and Yale University, who claimed they were harmed when they bought securities tied to rigged Libor. The proposed […]
SEC Charges Prominent Pastor, Financial Planner in Scheme to Defraud Elderly Investors
(HedgeCo.Net) The Securities and Exchange Commission has charged the pastor of one of the largest Protestant churches in the country and a self-described financial planner in a scheme to defraud elderly investors by selling them interests in defunct, pre-Revolutionary Chinese […]
Institutional investors and family offices planning to increase allocations to alternative investments in 2018
(Hedgeweek) Context Capital Partners’ latest Context Allocator Trends Report, which is based on a survey of more than 400 institutional investors and family offices, has revealed strong demand for alternative investment strategies, with 70 per cent of respondents planning to […]
Einhorn’s Main Hedge Fund Down 14% This Year After March Drop
(Bloomberg) David Einhorn’s main hedge fund at Greenlight Capital fell about 1.9 percent in March, extending its loss this year to 14 percent, according to a client update seen by Bloomberg. The performance compares with a 2.5 percent drop for […]
Quant Style Slump That Strategists Foretold Finally Arrives
(Bloomberg) If you’ve been cursing at technology stocks for the past two days, there’s another corner of the market that’s perhaps just as deserving of your anger. It’s called momentum — quant jargon for stocks that have performed the best […]
An $11 Billion Victory for Hostility (and Hedge Fund Arbs)
(Bloomberg) Hostile bids are never easy but the success of the bitterly contested takeover of U.K. engineer GKN Plc shows that the effort can still pay off even in today’s highly politicized M&A climate. The winning buyer, Melrose Industries Plc, […]
Barclays Wins Its DOJ Gamble With $2 Billion Mortgage Settlement
(Bloomberg) Barclays Plc agreed to pay $2 billion to settle a probe into how it sold the sort of mortgage bonds that fueled the financial crisis, securing a penalty less than half of what U.S. authorities originally demanded.The British lender […]
GKN Loses Fight Against Melrose’s $11 Billion Hostile Offer
(Bloomberg) U.K. engineering company GKN Plc lost a hard-fought battle for independence after shareholders opted for a 8.1-billion-pound ($11.2 billion) offer from Melrose Industries Plc in a takeover that attracted scrutiny from government, a key customer and unions. Melrose received […]
Morgan Stanley Knew of a Star’s Alleged Abuse. He Still Works There.
(CNBC)”He threatened to burn down my house with me in it,” one woman wrote in her application for a restraining order. “I don’t know what he’s going to do next,” a second wrote. “He choked me so hard it left […]
Walmart Talking With Humana on Closer Ties; Acquisition Possible
(Reuters) U.S. retailer Walmart Inc is in early-stage talks with health insurer Humana Inc about developing closer ties, with the acquisition of Humana being discussed as one possibility, people familiar with the matter said on Thursday…..Should the talks lead to […]
Alibaba Enters Top 20 List of Most Widely Held Inst Stocks
(Evestment) Chinese global e-commerce firm Alibaba entered the list of top 20 stocks owned by institutional investors through their asset managers for the first time since eVestment began publishing its Institutional Stock Ownership Report. Alibaba entered the list at No. […]
Steven Cohen, SAC Must Again Face Fairfax Short-Selling Lawsuit
(Reuters) The billionaire Steven A. Cohen must again face a lawsuit accusing him and his former firm SAC Capital Advisors LP of conspiring with other hedge funds to spread false rumors about Fairfax Financial Holdings Ltd FFX.TO to drive down […]