Monthly Archives: August 2020
Layoffs come for the asset management industry as economy stumbles
(Opalesque) The asset management industry is bracing for job and pay cuts according to the latest report from Johnson Associates. Lower fee products, a greater risk for defaults and a tumultuous market environment will make it difficult for asset managers […]
Hedge funds turn up the heat with strong gains across equities, macro and activist strategies
(Hedgeweek) Hedge funds have stormed into the second half of the year, recording their second highest monthly return in almost 18 months, and their third biggest monthly return in a decade, with equities and macro-focused managers leading the way. To […]
JPMorgan and Goldman Sachs took top spots as M&A advisers in H1 2020
Opalesque) US banks JPMorgan and Goldman Sachs were the leading financial advisers on acquisition deals in the first half of 2020, according to the latest survey from GlobalData. To read this article:
Monsoon Capital and principal barred from NFA membership
(Opalesque) NFA, the self-regulatory organisation for the U.S. derivatives industry, has barred Gautam Prakash from reapplying for membership or principal status with any NFA member for seven years. Prakash was a principal of former CTA and CPO Monsoon Capital LLC, […]
Stock futures flat in overnight trading after Wall Street notches seventh straight day of gains
(CNBC) Futures tied to major U.S. equity averages were little changed in overnight trading on Monday after days of gains on Wall Street pushed the S&P 500 within striking distance of a record high. Dow Jones Industrial Average futures dipped […]
Robinhood reports more monthly trades than rivals Charles Schwab, E-Trade combined
(CNBC) Robinhood joined the rest of brokerage industry by publishing monthly trading data on Manday. The start-up trounced them all — at least by one metric. Robinhood saw 4.3 million daily average revenue trades, or DARTS, in June. This is the first […]
Mnuchin is open to restarting virus relief talks: ‘We’re prepared to put more money on the table’
(CNBC) The Trump administration is open to resuming coronavirus aid talks with Democratic leaders and would offer more aid money to try to reach a compromise, Treasury Secretary Steven Mnuchin said Monday. To read this article:
Banks and tech giants including JPMorgan and Amazon pledge to hire 100,000 minority New Yorkers
(CNBC) The CEOs of banks, tech companies and consulting firms are forming a group to boost hiring from underrepresented groups in New York. Leaders from 27 firms that represent many of New York’s dominant industries banded together to create the […]
Hedge funds surge in July
(Opalesque) Hedge funds surged in July to begin 2H20, with the HFRI Fund Weighted Composite Index (FWC) posting the 2nd highest monthly gain since January 2019 and the 3rd strongest gain since 2010. The HFRI FWC climbed +3.2 percent for […]
Profit up 87% at Buffett’s Berkshire, but coronavirus slows businesses
(Marketwatch) Warren Buffett’s company reported an 87% jump in its second-quarter profit as the paper value of its investment portfolio increased with the stock market, but it took a roughly $10 billion write down on the value of its aircraft […]
Trump says Anthony Scaramucci ‘just made a fool of himself’ on Fox News — you be the judge
(Marketwatch) President Donald Trump happened upon Fox News on Sunday evening and came across his former White House communications director trashing him on Steve Hilton’s show. The president has actually failed on his mission,” Scaramucci said. “No.1: The economy is […]
Stock futures mixed after Trump signs orders extending coronavirus relief
U.S. stock futures were mixed early Monday morning after President Donald Trump signed several executive orders aimed at extending coronavirus relief. Dow Jones Industrial Average futures were up 76 points at of 12:09 a.m. ET on Monday, indicating a gain […]