Category Archives: Syndicated
PepsiCo plans to cut hundreds of corporate jobs, report says
(CNBC) PepsiCo is eliminating hundreds of corporate jobs in North America, according to the Wall Street Journal. The layoffs will affect employees of its food and beverage businesses in Chicago; Plano, Texas and Purchase, New York, the Journal reported, citing […]
Sam Bankman-Fried could face years in prison over FTX’s $32 billion meltdown — if the U.S. ever gets around to arresting him
(CNBC) Sam Bankman-Fried, the disgraced former CEO of FTX — the bankrupt cryptocurrency exchange that was worth $32 billion a few weeks ago — has a real knack for self-promotional PR. For years, he cast himself in the likeness of […]
Salesforce executive exits help push stock to its lowest point since March 2020
CNBC) Turbulence in the upper ranks at Salesforce isn’t sitting well with Wall Street. On Monday, the company announced the departure of Slack CEO Stewart Butterfield, who joined Salesforce last year as part of its biggest acquisition ever. Last Wednesday, […]
3AC founders still not cooperating, say liquidators
(Hedgeweek) The founders of Three Arrows Capital (3AC) are still not cooperating with liquidators for the bankrupt crypto hedge fund, and are hindering the company’s ability to return funds to creditors by refusing to assist with asset recovery efforts, according […]
Crypto is ‘uninvestable’, says hedge fund manager
(Hedgeweek) The downfall of FTX has been labelled as a positive in the long-run by hedge fund manager Jordan Visser, president and CIO of Weiss Multi-Strategy Advisors, because it has provided a stark warning to institutional investors looking to invest […]
Stock futures slip slightly as traders look ahead to more economic data
(CNBC) U.S. stock futures are slightly lower on Monday morning as investors await more economic data ahead of the Federal Reserve’s December policy meeting. Dow Jones Industrial Average futures fell by 34 points, or 0.1%. S&P 500 and Nasdaq 100 […]
Celsius clients with collateral stuck on failed crypto platform turn to bankruptcy process for relief
(CNBC) Alan Knitowski holds an MBA, has worked in technology and finance for over 25 years and is CEO of a mobile software company that trades on the Nasdaq. That didn’t prevent him from getting duped by a crypto firm. […]
Former Brevan Howard money manager to launch $400m macro hedge fund
(Hedgeweek) Asfandyar Nadeem, a former money manager at Brevan Howard Asset Management, is planning to launch his own macro hedge fund with ongoing market volatility currently seeing some existing macro funds chalking up big gains, according to a report from […]
Tech layoffs send visa holders on frantic search for employment to avoid deportation
(CNBC) After years of seemingly boundless expansion, the U.S. tech industry has hit a wall. Companies are in cash preservation mode, leading to thousands of job cuts a month and a surge of layoffs in November. While the sudden loss […]
Investors sticking with hedge funds to protect assets
(Hedgeweek) Investors clearly see hedge funds as a useful tool for protecting assets during ongoing market volatility, according to Ernst & Young’s (EY) latest Global Alternative Fund Survey, with more than three quarters (78%) of investor respondents expecting to maintain […]
Mark Cuban: Former FTX CEO Sam Bankman-Fried should be ‘afraid of going to jail’
(CNBC) Billionaire Mark Cuban isn’t giving up on crypto, despite the implosion of FTX, one of the world’s largest cryptocurrency exchanges. However, Cuban says former FTX CEO Sam Bankman-Fried should be “afraid of going to jail for a long time,” […]
Former FTX CEO Sam Bankman-Fried met with top officials at the CFTC more than 10 times over the past 14 months
(CNBC) The founder and former CEO of failed cryptocurrency exchange Sam Bankman-Fried met with high-level officials at the Commodity Futures Trading Commission more than 10 times over the past 14 months, including with CFTC Chairman Rostin Behnam. Behnam testified Thursday […]