Category Archives: Syndicated
New York Times sues Microsoft, ChatGPT maker OpenAI over copyright infringement
(CNBC) The New York Times on Wednesday filed a lawsuit against Microsoft and OpenAI, creator of the popular AI chatbot ChatGPT, accusing the companies of copyright infringement and abusing the newspaper’s intellectual property to train large language models. Microsoft both invests in and […]
Bitcoin’s 2023 rally drove some of the stock market’s biggest gains this year
(CNBC) For crypto bulls, the most lucrative bets in 2023 were in the stock market. While bitcoin rallied over 150% for the year, shares of Coinbase, MicroStrategy and the Grayscale Bitcoin Trust, which are all tied closely to the digital […]
Ether rallies 6% in catch-up trade as investors position for January
(CNBC) The price of ether jumped on Wednesday as investors moved into the cryptocurrency ahead of key upside catalysts expected in January. Ether was last higher by 6%, according to Coin Metrics. Solana’s SOL token, among the top performers in […]
Hedge funds seek double-digit returns in 2024 after year of outflows
(CNBC) A steady rally in stocks and elevated bond yields are pressuring global hedge funds to boost returns as they fight to staunch investor outflows, according to a report by Reuters that quotes industry insiders. To read this article:
Ex-BlackRock Manager to lead new hedge fund
(Hedgeweek) David Tovey, who was a BlackRock fund manager until 2021, is part of a team that plans to launch a hedge fund based in London and Zurich in the first quarter of 2024, according to a report by Reuters. […]
BioMarin settles with Elliott
(Hedgeweek) BioMarin has reached a settlement with activist investor Elliott Investment Management where the biotechnology company will add three independent directors to its board and form a committee to review operations, according to a report by Reuters. To read this […]
SS&C GlobeOp Forward Redemption Indicator rises to 3.64%
(Hedgeweek) The SS&C GlobeOp Forward Redemption Indicator, which represents redemption notices received from investors in hedge funds administered by SS&C GlobeOp, measured 3.64% for December 2023, up from 3.49% in November. To read this article:
S&P 500 futures are little changed as index nears all-time high: Live updates
(CNBC) S&P 500 futures are flat Wednesday as investors eyed the benchmark index’s approach to a record high. Futures tied to the broad market index and Nasdaq 100 were both little changed. Dow Jones Industrial Average futures was also trading […]
MicroStrategy’s bitcoin bet produces over 300% gain for investors in 2023
(CNBC) MicroStrategy‘s stock has soared 337%, making it one of the biggest gainers in the U.S. among companies valued at $5 billion or more, topping Nvidia’s 234% rally and Meta’s 194% surge. Unlike its tech peers, which rely on revenue […]
Spot bitcoin ETF approval may be coming in January, Here’s what it means for investors
(CNBC) The price of bitcoin has surged in 2023 as investors await approval for the first U.S. spot bitcoin exchange-traded fund, which would be a milestone for cryptocurrency investors. In early December, the digital currency topped $44,000 for the first […]
SoftBank gets $7.6 billion T-Mobile stake windfall, shares soar
(CNBC) Shares in SoftBank Group jumped 5% on Wednesday after the Japanese tech conglomerate said it would receive shares in telco T-Mobile U.S. worth some $7.59 billion at no additional cost. Masayoshi Son’s conglomerate said late on Tuesday it had told T-Mobile U.S. to issue 48.75 million shares in common […]
The U.S. avoided a recession in 2023. What’s the outlook for 2024? Here’s what experts are predicting
(CNBC) An economic decline may still be in the forecast, experts say. The prediction is based on the same factors that prompted economists to call for a downturn in 2023. As inflation has run hot, the Federal Reserve has raised […]