Category Archives: Syndicated
India’s HDFC Bank completes $40 billion takeover of the country’s largest mortgage lender. Here’s what it means
(CNBC) India’s largest private lender HDFC Bank has completed its merger with Housing Development Finance Corporation, the country’s biggest mortgage lender, in a deal that pits the new entity against the world’s largest banks. The merger took effect on July […]
Tiger Global rejects ‘low’ offers for private company stakes
(Hedgeweek) Tiger Global Management, the hedge fund firm founded by Chase Coleman, has rejected hundreds of bids for its private company stakes in recent months, because the offers received were deemed to be too low, according to a report by […]
Odey to shutter second fund
(Hedgeweek) Odey Asset Management is winding down a second fund – the LF Odey Portfolio Fund, which was suspended earlier this month – because of mounting redemption requests from investors stemming from the multiple allegations of sexual assault made against […]
GoldenTree makes $100m from AT1 bet
(Hedgeweek)The turmoil in the weeks following the emergency rescue of Credit Suisse by rival UBS Group proved to be a profitable time for GoldenTree Asset Management, with the hedge fund making a profit of around $100 million from a bet […]
Nike posts first earnings miss in three years as lower margins hit sports apparel giant
(CNBC) Nike missed on earnings Thursday for the first time in three years, as the retailer reported lower margins that weighed on profits during its fiscal fourth quarter. Shares dropped more than 4% in extended trading. The stock has fallen […]
Stock futures are little changed as investors await key inflation data: Live updates
(CNBC) U.S. equity futures were little changed on Thursday evening as investors awaited the latest data on personal consumption expenditures, the Federal Reserve’s favored inflation gauge. Futures tied to the Dow Jones Industrial Average inched lower by 26 points, or […]
Fidelity joins the rush for a bitcoin ETF, following BlackRock, Ark Invest and others
(CNBC) Asset management giant Fidelity Investments is again trying to launch a spot bitcoin exchange-traded fund, according to a Thursday filing. The move comes two weeks after BlackRock filed for a spot bitcoin ETF, which has long been opposed by […]
Former Pfizer employee charged with insider trading on unreleased Covid pill data
(CNBC) Federal authorities charged a former Pfizer employee and his close friend Thursday with illegally trading shares based on non-public trial results on the pharmaceutical company’s Covid antiviral pill Paxlovid. The Justice Department and the Securities and Exchange Commission both […]
Compliance chief at Chinese fintech company stole girlfriend’s insider info to trade VMware, tech stocks
(CNBC) The compliance chief at a Chinese payment processor was charged by the U.S. Securities and Exchange Commission and New York federal prosecutors with violating insider trading laws after sneaking onto his girlfriend’s computer to view meetings between investment bankers […]
Federal Reserve says 23 biggest banks weathered severe recession scenario in stress test
(CNBC) All 23 of the U.S. banks included in the Federal Reserve’s annual stress test weathered a severe recession scenario while continuing to lend to consumers and corporations, the regulator said Wednesday. The banks were able to maintain minimum capital […]
3AC liquidators seeking $1.3bn from hedge fund’s founders
(Hedgeweek) The founders of Three Arrows Capital (3AC) are being targeted by liquidators for the bankrupt cryptocurrency hedge fund for the recovery of $1.3 billion, the amount the allegedly racked up in losses prior to last year’s collapse of the […]
Odey AM in talks with SW Mitchell over transfer of Kelton funds
(Hedgeweek) Advanced talks” are ongoing between Odey Asset Management (Odey AM) and SW Mitchell Capital over the transfer of the Oliver Kelton and the funds he previously managed at Odey AM to the London-based European equities investment boutique, according to […]