Monthly Archives: May 2021
JPMorgan’s Dimon, Citigroup’s Fraser doubt Biden’s minimum global corporate tax rate plan would work
(CNBC) JPMorgan Chase CEO Jamie Dimon and Citigroup chief Jane Fraser on Thursday expressed concerns over President Joe Biden’s effort to hike the amount of taxes businesses pay on foreign profits and a concurrent goal to set a global minimum […]
State Street Backed Two Activist Hedge Fund Nominees For Exxon Board
(Reuters) Asset manager State Street Corp voted for two of the four candidates put forward by activist hedge fund Engine No. 1 for Exxon Mobil’s board, a spokesman for the Boston firm said late on Thursday. State Street was Exxon’s […]
The party is not over for growth stocks
(Opalesque) Robert Zuccaro, a quantitative investment pioneer and founder of Target QR Strategies, raises a new angle to this year’s debate on growth stocks versus value stocks. Russell Investments predicted that value stocks would outperform growth stocks this year. “Much […]
U.S. weekly jobless claims drop to fresh 14-month low; economic recovery gaining speed
(Reuters) The number of Americans filing new claims for unemployment benefits dropped more than expected last week as layoffs subsided, with companies desperate for workers to meet surging demand unleashed by a rapidly reopening economy. To read this article:
Snowflake reports widening losses but raises full-year guidance
(CNBC) Snowflake shares fell as much as 8% in extended trading on Wednesday after the data-analytics software company barely met analysts’ expectations for product revenue, the company’s main source of total revenue, for the full fiscal year. To read this […]
Jeff Bezos to formally step down as Amazon CEO on July 5, Andy Jassy to take over
(CNBC) Amazon CEO Jeff Bezos will step down on July 5, turning the helm over to cloud-computing boss Andy Jassy. “We chose that date because it’s sentimental for me, the day Amazon was incorporated in 1994, exactly 27 years ago,” […]
U.S. Justice Department starts probe on Archegos collapse
(CNBC) The U.S. Department of Justice is investigating the collapse of Bill Hwang’s Archegos Capital Management, which cost big global banks more than $10 billion in losses, Bloomberg News reported on Wednesday. Federal prosecutors in Manhattan sent requests for information […]
Nvidia sold $155 million in crypto mining chips last quarter, but PC gaming remains its biggest market
(CNBC) On Wednesday, the company provided an update on how its cryptocurrency, or CMP, cards are faring in the market. It booked $155 million in revenue from CMP cards in its fiscal first quarter, which ended May 2, and expected […]
Hedge fund CFOs say data demands will drive up ops spend
(Hedgeweek) Investor demand for data transparency is set to drive hedge fund firms’ operating costs up by more than 8 per cent over the next five years, hedge fund chief financial officers are predicting. To read this article:
SEC Charges Investment Entity and Principals with Securities Fraud and Registration Violations
(HedgeCo.Net) The Securities and Exchange Commission charged Colorado and Florida residents Randy R. King, Matthew B. King, and Andrea S. Trout and three entities they operated, The Legacy Group, Inc., Colorado Ventures I, LLC, and Radiant Holdings, LLC, with fraudulently […]
Fed’s Daly says the economy is strong, but it’s ‘way too early’ to tighten policy
(CNBC) While she’s encouraged by the economic progress, San Francisco Federal Reserve President Mary Daly told CNBC on Tuesday that it’s still not time to change policy. “We haven’t seen substantial further progress just yet. We’re still looking for substantial […]
Robinhood nears its biggest trade of all, an IPO, after wild year
(CNBC) Robinhood’s list of recent challenges are hard to count on one hand. Yet the popular stock-trading app is growing faster than ever and is on track for a multibillion-dollar IPO in the coming months. To read this article:
