Monthly Archives: June 2023
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, […]
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 […]