Category Archives: Syndicated
Citigroup to close global distressed-debt business as part of CEO Jane Fraser’s overhaul
(CNBC) Citigroup is shuttering another Wall Street business as CEO Jane Fraser pushes ahead with her overhaul of the bank. The company decided to close its global distressed-debt group, according to people with direct knowledge of the move. Citigroup is […]
Wells Fargo employees vote in favor of unionization
(CNBC) Wells Fargo employees at its Albuquerque, New Mexico branch voted to join a union on Wednesday, opening up a new frontier in the labor campaign against corporate America. Wells Fargo employees voted 5 to 3 in favor of joining […]
GCW forms alliance with hedge fund-of-funds Collwick Capital
(Hedgeweek) GCW Global Customised Wealth (GCW), a provider of investment management solutions to sophisticated individual investors and institutions, has formed a strategic relationship with North Carolina-based hedge fund-of-funds Collwick Capital. To read this article:
Stock futures are flat after Dow notches a ninth winning session: Live updates
(CNBC) Stock futures hovered near the flatline on Wednesday after the major averages built on their strong rally to end 2023. S&P 500 futures inched 0.05% higher, while Nasdaq 100 futures inched higher by 0.13%. Futures tied to the Dow […]
U.S. Bank fined $36 million for freezing unemployment debit cards during Covid-19 pandemic
(CNBC) The Consumer Financial Protection Bureau on Tuesday announced it has fined U.S. Bank nearly $21 million for cutting off access to unemployment insurance benefits during the height of the Covid-19 pandemic. The Office of the Comptroller of the Currency […]
FedEx shares tumble 9% after weaker demand hit revenue outlook
(CNBC) FedEx shares tumbled more than 9% in after-hours trading Tuesday after the package delivery giant lowered its revenue forecast as weaker demand hit sales. The company said it expects a low-single-digit decline in revenue for the fiscal year, down […]
Icahn to mount second Illumina board challenge
(Hedgeweek) Activist hedge fund investor Carl Icahn is gearing up for a second board challenge at Ilumina as he looks to oust directors at the gene-sequencing company just months after shareholders elected one of his director candidates, according to a […]
Digital asset funds end 11-week run of inflows
(Hedgeweek) Global digital asset investment products saw minor outflows totalling $16m last week, bringing to an end an 11-week run of inflows, according to the latest Digital Asset Fund Flows Weekly Report from CoinShares. To read this article:
Cash scarce at Traynor Ridge, says receiver
(Hedgeweek) Ernst & Young (EY), the receiver for failed Canadian hedge fund Traynor Ridge Capital Inc has said that efforts to wind down the company have so far found only $3m in cash, a fraction of the $94m in assets […]
Stock futures are flat on Monday evening: Live updates
(CNBC) Stock futures hovered near the flatline on Monday evening. Futures tied to the Dow Jones Industrial Average dipped 22 points, or 0.06%. S&P 500 futures and Nasdaq-100 futures inched down 0.04% and 0.1% respectively. Stocks are coming off a […]
Hedge funds turn bearish on US dollar as Fed signals rate cuts
(Hedgeweek) Hedge funds and other large speculators switched to a net short position against the dollar last week for the first time since September amid growing expectations that the Federal Reserve will soon move to “non-recessionary” interest-rate cuts, according to […]
Meta’s stock is wrapping up a record year, spurred by cost cuts that followed a disastrous 2022
(CNBC) Meta shares are up 178% for the year, on pace for their best year ever, topping the 105% jump in 2013, which was the year after Facebook’s IPO. The stock rose another 2.9% on Monday to $344.62, its highest […]