Monthly Archives: June 2023
New York activist Saba Capital holds major stake in VG1 fund
(Hedgeweek) Saba Capital, a $4.4 billion New York-based activist hedge fund firm founded by Boaz Weinstein, has emerged as a major shareholder in Regal Partners’ listed VG1 fund with a 5% stake in the investment vehicle, according to a report […]
Justice Department charges 78 people with $2.5 billion in health-care fraud
(CNBC) The Department of Justice announced Wednesday that it has recently charged 78 people with $2.5 billion in separate health-care fraud and opioid abuse schemes. The defendants allegedly defrauded programs used to take care of elderly and disabled people, and […]
Nvidia’s chips fuel A.I. — here’s why the U.S. worries about China’s access
(CNBC) Nvidia’s powerful semiconductors have taken on particular importance as their capacity to fuel artificial intelligence has become increasingly sought after. But their unique capacity is also what’s made China hawks in the U.S. fearful about what it could mean […]
SEC Obtains Emergency Relief to Halt Pre-IPO Stock Fraud Scheme by Unregistered Broker-Dealer
(HedgeCo.Net) The Securities and Exchange Commission has announced a preliminary injunction, asset freeze, and other emergency relief against Legend Venture Partners LLC, a New York City-based unregistered broker-dealer, in connection with a fraudulent scheme involving the sale of interests in […]
Odey suspends flagship hedge fund and one other following surge in redemption requests
(Hedgeweek) A surge in redemption requests from investors after the ouster of founder Crispin Odey following multiple allegations of sexual assault, has prompted Odey Asset Management (Odey AM) to suspend two funds, including the firm’s flagship hedge fund, according to […]
Bitcoin market cap could triple to $1.5tn, says hedge fund veteran
(Hedgeweek) Former hedge fund manager Hugh Hendry is bullish on bitcoin believing that the market cap of the flagship cryptocurrency could triple to $1.5 trillion on the back of worsening global macroeconomic conditions, according to a report by CryptoGlobe. To […]
Digital assets funds see largest inflows in a year following US ETF applications
(Hedgeweek) Digital asset investment products saw the largest single weekly inflows since July 2022 last week, totalling $199 million, correcting almost half of the previous nine consecutive weeks of outflows, according to the latest Digital Assets Fund Flows Weekly Report […]
UBS to cut more than half of Credit Suisse workforce, report says
(CNBC) UBS Group is looking to cut more than half of Credit Suisse’s workforce from next month as a result of the bank’s takeover, Bloomberg News reported on Tuesday. Bankers, traders, support staff in Credit Suisse’s investment bank in London, New York, […]
Google cuts jobs at Waze as it continues to merge mapping products
(CNBC) In an email to employees on Tuesday, Chris Phillips, who oversees Google’s maps division called Geo, said the company is shifting its Waze strategy to include Google ads rather than using a separate ads system. That move will result […]
Florida Resident Charged for Operating $112 Million Ponzi Scheme that Targeted Haitian-American Community
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Broward County, Florida resident Sanjay Singh and his trucking and logistics company, Royal Bengal Logistics Inc., with fraudulently raising approximately $112 million from as many as 1,500 investors through an […]
Dalio predicts China-like boom for India
(Hedgeweek) India will experience significant economic growth, similar to that seen during China’s economic transformation in the 1980s, according to a report by the Hong Kong Standard, citing Ray Dalio, the founder of hedge fund Bridgewater. To read this article:
Stock futures rise slightly as investors await economic data in run-up to month, quarter end
(CNBC) Stock futures were modestly higher Monday night as investors looked toward the next batch of economic data and readied for the end of June and the second quarter. Futures tied to the Dow Jones Industrial Average added 41 points, […]
