Category Archives: Syndicated
Former Theranos COO Sunny Balwani sentenced to nearly 13 years in prison
(CNBC) Former Theranos chief operating officer and president Ramesh “Sunny” Balwani was sentenced to nearly 13 years in prison Wednesday for fraud, after the unraveling of the blood-testing juggernaut prompted criminal charges in California federal court against both Balwani and […]
Federal judge dismisses crypto scam lawsuit against Kim Kardashian, Floyd Mayweather Jr.
(CNBC) A federal judge on Wednesday dismissed a proposed class action lawsuit by investors against the founders of the cryptocurrency EthereumMax, as well as celebrity endorsers including Kim Kardashian and boxer Floyd Mayweather Jr. over their promotion of the cryptocurrency […]
Sam Bankman-Fried lobbied for Taylor Swift deal as FTX bled cash and execs urged restraint
(CNBC) Earlier this year, as the crypto meltdown was draining the industry of liquidity, FTX executives were begging company founder Sam Bankman-Fried to preserve cash and stop spending hundreds of millions of dollars on celebrity endorsements. Three people close to […]
Stock futures are flat on Tuesday night
(CNBC) Stock futures were little changed Tuesday night. Futures tied to the Dow Jones Industrial Average were up 36 points, or 0.1% while S&P 500 futures and Nasdaq 100 futures were each up 0.1%. In regular trading the Dow fell […]
Morgan Stanley cut 2% of global staff on Tuesday, sources say
CNBC) Morgan Stanley cut about 2% of its staff on Tuesday, according to people with knowledge of the layoffs. The moves impacted about 1,600 of the company’s 81,567 employees and touched nearly every corner of the global investment bank. Morgan […]
We don’t lay off people’: This is how Bank of America’s CEO plans to reduce employee levels
(CNBC) Brian Moynihan is no stranger to laying off workers — it’s one of the key ways he helped shape Bank of America after the 2008 financial crisis. But in recent years, his firm has taken a different approach to […]
Here’s what America’s top CEOs are saying about a possible recession in 2023
(CNBC) As 2023 approaches and the prospect of a recession looms, corporate America is preparing for a slowdown in consumer spending. CEOs of major companies including Walmart and General Motors joined discussed interest rates, geopolitics and what it all means […]
Short investment products see majority of last week’s digital asset fund outflows
(Hedgeweek) Digital asset investment products saw minor outflows totalling $7.5 million, with the majority of that total coming from short funds, according to the latest Digital Asset Fund Flows Weekly Report from CoinShares. To read this article:
Former SEC chief economist flags fundamental flaws with proposed SEC dealer rule
(Hedgeweek) The Managed Funds Association (MFA), the trade association for the global alternative asset management industry, has submitted an economic study and a comment letter on proposed rules to define the terms “dealer” and “government securities dealer”, to the US […]
Bitcoin will eventually replace gold, says Morgan Creek’s Yusko
(Hedgeweek) Veteran hedge fund manager Mark Yusko, the founder, chief investment officer and managing director of Morgan Creek Capital Management, says that bitcoin (BTC) will eventually replace gold, and predicts that the value of the cryptocurrency will reach six figures, […]
Two-month rout wipes out most of Bridgwater’s 2022 gains
(Hedgeweek) Bridgewater Associates has seen most of its gains made during the first three quarters of the 2022 wiped out during the first two months of Q4, according to a report by Pensions & Investments, after the firm was on […]
Stock futures are up slightly as fears mount over upcoming interest rate hikes
(CNBC) Stock futures are trading up slightly Monday night as investors tried to shake the previous session’s selloff. Futures tied to the Dow Jones Industrial Average added 40 points, or 0.12%. S&P 500 futures were fractionally higher while Nasdaq-100 futures […]