Monthly Archives: March 2023
Elliot ditches plans for Salesforce proxy battle
(Hedgeweek) Activist hedge fund Elliot Investment Management has decided not to proceed with its planned director nominations at Salesforce Inc, after a rise in the company’s stock price and the initiation of a series of strategic changes at the enterprise […]
Hedge funds dump US banking stocks
(Hedgeweek) Global hedge funds’ exposure to US banking stocks has hit a near 10-year record low as the turmoil in the sector triggered by the demise of Silicon Valley Bank and Signature Bank, and the ‘rescue’ of Credit Suisse by […]
Binance and Its Founder, Changpeng Zhao, Charged with Willful Evasion of Federal Law and Operating an Illegal Derivatives Exchange
(HedgeCo.Net) The Commodity Futures Trading Commission today announced it has filed a civil enforcement action in the U.S. District Court for the Northern District of Illinois charging Changpeng Zhao and three entities that operate the Binance platform with numerous violations […]
Stock futures tick higher on Monday evening: Live updates
(CNBC) Stock futures inched higher in overnight trading after the S&P 500 posted its third positive session in a row and banking sector concerns continued to ease. Lyft shares gained after hours as the ridesharing company announced a new CEO […]
Disney layoffs will begin this week, CEO Bob Iger says in memo
(CNBC) Disney will begin layoffs this week, the first of three rounds before the beginning of the summer that result in about 7,000 job cuts, according to a memo sent by Chief Executive Bob Iger. The cuts are part of […]
Fed’s Barr calls Silicon Valley Bank failure a ‘textbook case of mismanagement’
(CNBC) The Federal Reserve’s top banking regulator said Monday that the failure of Silicon Valley Bank was due largely to mismanagement, though he noted that regulation and oversight also need to step up. Fed Governor Michael Barr, the central bank’s […]
Here’s why the U.S. had to sweeten terms to get the SVB sale done
(CNBC) The winning bidder in the government’s auction of Silicon Valley Bank’s main assets received several concessions to make the deal happen. First Citizens BancShares is acquiring $72 billion in SVB assets at a discount of $16.5 billion, or 23%, […]
Lyft CEO and president to step down, former Amazon exec David Risher named as replacement
(CNBC) Lyft’s cofounders, CEO Logan Green and president John Zimmer, will soon step back from their day-to-day roles, the company announced on Monday. David Risher, a former retail executive at Amazon, will be CEO of the ridesharing company beginning April […]
SEC Charges Three Sales Agents at StraightPath Venture Partners With Fraud and Unregistered Broker Activity
(Hedgeco.Net) The Securities and Exchange Commission has charged Scott Hollender, Gabriel Migliano, Jr., and Frank Vecchio for selling interests in shares of pre-IPO companies on behalf of StraightPath Venture Partners LLC, despite not being registered broker-dealers, and for misleading investors […]
Stock futures are up as Wall Street looks to build on winning week: Live updates
(CNBC) Stock futures edged higher Sunday evening as Wall Street came off a winning week and investors continued to follow the troubling bank sector.Futures tied to the Dow Jones Industrial Average added 132 points, or 0.4%. S&P 500 futures gained […]
Deposit drain from smaller banks into financial giants like JPMorgan Chase has slowed, sources say
(CNBC) The surge of deposits moving from smaller banks to big institutions including JPMorgan Chase and Wells Fargo amid fears over the stability of regional lenders has slowed to a trickle in recent days, CNBC has learned. Uncertainty caused by […]
Bitcoin is poised to blow up Africa’s $86 billion banking system
(CNBC) Block CEO Jack Dorsey and his top brass descended on Accra for the inaugural Africa Bitcoin Conference in December to talk about one of the most potentially disruptive and transformative alternatives to the continent’s existing financial system: bitcoin. Since […]
