Monthly Archives: February 2004
SEC To Force Mutual Funds to stop excessive commission payout
WEST PALM BEACH, FL (HEDGECO.NET) – The US Securities and Exchange Commission has ordered mutual fund establishments to stop paying excessive commissions to brokers for promoting the fund products ofthose firms. These are the continuing fallout from the mutual fund/hedge […]
Monday briefing: Papers
Observer Eurotunnel is to outline plans to head off financial crisis amid concern that the Anglo-French firm will run out of money in two years. Unilever , the Anglo-Dutch consumer goods company, is this week expected to slash its sales […]
Daily News, New York, Guerrilla Investing Column
Feb. 9–The tug of war between bulls and bears is likely to continue for much of the year. With high valuations, there isn’t that much upside. With low interest rates and an improving economy, there isn’t that much downside. But […]
SEC to Recommend Franklin Resources Charge
WASHINGTON (AP) – Franklin Resources Inc., the parent of Franklin Templeton Investments, Monday said that the Securities and Exchange Commission intends to recommend charging the company and twounnamed executives over mutual fund trading practices. Last week, Massachusetts regulators charged the […]
Soros Warns About Bubbles in World Economy
WEST PALM BEACH, FL (HEDGECO.NET) – Billionaire and financier George Soros has warned of the dangers facing the global economy. The bubbles are in the US deficits and in the Chinese economy. Hepredicts that the US dollar would continue to […]
Markets: The week that was – Shares take interest rise in their stride
Everyone was expecting an interest rate hike, but that did not stop the panicked murmuring about personal debt piles and mortgage costs hitting front pages. But the market did not react to the Bank of England’s decision: the FTSE 100 […]
MONY wins round as judge blocks opponents of AXA deal Wall Street Watch
MONY Group, trying to win approval of its planned takeover by AXA Financial, the large French insurance company, has persuaded a federal judge to temporarily block a tactic used by an institutionalshareholder trying to keep shareholders from approving the merger. […]
Chief Executive of CIBC Abruptly Resigns
WEST PALM BEACH, FL (HEDGECO.NET) – The Chief Executive Officer of Canadian Imperial Bank�s investment subsidiary, David Kassie abruptly resigned; just days after a former executive at the unit wascharged with helping hedge funds make illegal mutual funds trades. Statements […]
Hedge Fund Investors Abandon Funds Accused in Mutual Fund Scandals
WEST PALM BEACH, FL (HEDGECO.NET) – New released survey shows that many hedge fund investors are fleeing from hedge funds charged in the mutual fund trading scandals. Late last year, New Jersey basedhedge fund manager, Canary Capital Partners LLC agreed […]
Generator’s shares slip as investor pulls out
BRITISH Energy saw its shares lose a third of their value yesterday after a US hedge fund which investors hoped would fight their corner in the nuclear power generator’s restructuring pulled out ofthe stock. In a statement, British Energy said […]
Franklin could be in deeper with SEC
Federal regulators have found that improper market-timing at San Mateo-based Franklin Resources Inc. extended beyond the arrangement with a single Las Vegas broker highlighted this week byMassachusetts authorities, a Securities and Exchange Commission official said Thursday. Franklin, the No. 4 […]
Investors take their money and run from tainted hedge funds
NEW YORK – Investors fled hedge funds accused of shady trading practices in droves last year as their strategies came under intense scrutiny from regulators, according to a survey. The funds saw $1.8 billion, or nearly half of their total […]