Monthly Archives: September 2021
Shell announces $9.5 billion sale of West Texas oil field assets to ConocoPhillips
(CNBC) The deal would mark Shell’s complete withdrawal from onshore production in Texas. Shell will maintain its offshore production in Texas. The move comes as the oil industry faces increasing pressure to invest in renewable energy and lower its carbon […]
SEC Charges Former Pharmaceutical Global IT Manager in $8 Million Insider Trading Scheme
(HedgeCo.Net) The Securities and Exchange Commission has announced insider trading charges against Dayakar R. Mallu, of Orlando, Florida, who generated gains and avoided losses totaling over $8 million by trading in the securities of his former employer, Mylan N.V., ahead […]
As stocks enter volatile period, Fed will not rock the boat further in the week ahead
(CNBC) The Federal Reserve’s much-anticipated meeting this week may not be quite as exciting for markets as some investors had been expecting in the usual choppy month of September. The meeting is the highlight of the coming week, traditionally a […]
Stock futures mixed after Dow notches three straight losing weeks for first time in 2021
(CNBC)U.S. stock futures were mixed in overnight trading Sunday after the Dow Jones Industrial Average turned in three straight weeks of losses for the first time since September 2020. Futures on the Dow shed 75 points. S&P 500 futures traded […]
After years of being ‘squeaky clean,’ the Federal Reserve is surrounded by controversy
(CNBC) The Federal Reserve has a big meeting on this week, one that will be held under the cloud of an ethical dilemma and will be run by a policymaking committee that finds itself with fairly pronounced divisions about the […]
Senate bill to end ETF tax break is ‘pretty unlikely to pass,’ market analyst says
(CNBC) One Senate Democrat’s proposal to end a tax break for exchange-traded funds is “pretty unlikely to pass,” ETF Trends chief investment officer and director of research Dave Nadig told CNBC’s “ETF Edge” this week. “I think the chances are […]
More money on way for Bernard Madoff victims, total payouts top $18 billion
(Reuters) Victims of Bernard Madoff’s Ponzi scheme can expect to soon receive another $568 million to help cover their losses, the U.S. Department of Justice said on Thursday, boosting total recoveries above $18 billion. To read this article:
SEC Charges New York Investment Adviser and Its Owner with Fraud
(HedgeCo.Net) The Securities and Exchange Commission has charged Raquel Moura Borges and her investment advisory firm, Global Access Investment Advisor, LLC, with fraud for misappropriating client assets. According to the SEC’s complaint, from 2013 to 2018, Borges, a Brazilian national, […]
Jailed Hedge Fund Boss Kamensky Has N.Y. Law License Suspended
(Bloomberg) Marble Ridge Capital founder Daniel Kamensky has had his New York law license suspended months after pleading guilty to bankruptcy fraud and receiving a six-month sentence. A Manhattan-based state appeals court on Thursday suspended Kamensky’s license pending further disciplinary proceedings […]
Sub-billion dollar funds beat their billion-dollar rivals in August
(Opalesque) Hedge funds running less than $1bn gained almost twice as much as their Billion Dollar Club (BDC) rivals in August. In a notably strong month for the emerging funds industry, sub-BDC funds rose 0.8%, compared to 0.5% for funds […]
Powell orders ethics review after Fed presidents disclosed multimillion-dollar investments
(CNBC) Federal Reserve Chairman Jerome Powell directed staff to review the central bank’s ethics rules for appropriate financial activities after disclosures that several senior central bank officials made multiple multimillion-dollar stock trades in 2020, while others held significant investments. To […]
Retail sales post surprise gain as consumers show strength despite delta fears
(CNBC) Retail sales posted a surprise gain in August despite fears that escalating Covid cases and supply chain issues would hold back consumers, the Census Bureau reported Thursday. Sales increased 0.7% for the month against the Dow Jones estimate of […]