Monthly Archives: June 2023
Microsoft CEO Nadella said last year goal is to reach $500 billion in sales by 2030, court filing shows
(CNBC) Microsoft CEO Satya Nadella told fellow executives and board members last year that the software company aims to reach $500 billion in revenue by the 2030 fiscal year, more than doubling from its current size. The comments, pointing to […]
Robinhood cutting 7% of its full-time employees
(CNBC) Robinhood Markets said on Monday it was cutting about 7% of its full-time employees, as it struggles with reduced customer engagement. “We’re ensuring operational excellence in how we work together on an ongoing basis. In some cases, this may […]
Ford conducts engineering layoffs in U.S. and Canada
CNBC) Ford Motor confirmed Monday it will carry out layoffs this week, primarily affecting engineering jobs in the U.S. and Canada, as the automaker seeks billions in cost-cutting measures as it restructures its business operations. The job cuts are expected […]
Citadel slashes Boohoo stake after shares drop
(Hedgeweek) Ken Griffin’s Citadel has slashed its holding in UK fashion retailer Boohoo from 8.9% to just 1.8% after shares in the business fell from 62p at the time of the hedge fund’s initial investment, to just 34p, according to […]
Stock futures are little changed ahead of final week of trading in June: Live updates
(CNBC) Stock futures were flat on Sunday evening as Wall Street looked to see if the market rally could find more momentum in the final week of June. Futures tied to the Dow Jones Industrial Average ticked up 55 points, […]
SEC Charges Convicted Fraudster in Alleged Ponzi Scheme
(HedgeCo.Net) The Securities and Exchange Commission has charged Wilson Baston with defrauding numerous investors in an alleged Ponzi scheme, in which he raised millions of dollars through dozens of transactions purportedly to fund real estate investments, but frequently used the […]
Bitcoin is up 12% this month — even though barely anybody is trading it
(CNBC) Bitcoin has rallied sharply this month — but not for reasons you might think. The world’s largest digital currency has risen more than 12% since the beginning of June. Last week, its price topped $30,000 to hit its highest […]
Corporate bankruptcies and defaults are surging – here’s why
(CNBC) The Federal Reserve plans to keep hiking interest rates to stem inflation, which means an increase in corporate default rates is likely in coming months. The corporate default rate rose in May, a sign that U.S. companies are grappling […]
Siemens Energy shares plunge more than 37% as wind turbine worries deepen
(CNBC) Siemens Energy shares plunged over 37% on Friday after the company scrapped its profit forecast and warned that costly problems at its wind turbine unit could last for years. The company, born from the spinoff of the former gas […]
Ocado share surge hits short-sellers including Man and AQR
(Hedgeweek) Global hedge funds holding short positions in Ocado, including Man and AQR, were facing potential losses on Thursday after shares in the UK online grocery business surged, according to a report by Reuters citing data from research group Breakout […]
MFA recommends improvements to SEC’s proposed cybersecurity rules
(Hedgeweek) Managed Funds Association (MFA) has recommended improvements to the US Securities and Exchange Commission’s (SEC) proposed Advisers Act Cybersecurity rules in a third comment letter setting out how the SEC can achieve its goals while mitigating negative unintended consequences. […]
Investment Fund Founder Charged In Alleged $25 Million Fraud Offering
(HedgeCo.Net) The Securities and Exchange Commission has charged William K. Ichioka, of New York, New York, with fraudulently raising $25 million from individual investors primarily in California and Oregon by making false claims about his investing success and promising large […]
