Monthly Archives: June 2023
SEC Obtains Final Judgment Against Investment Adviser
(HedgeCo.Net) A federal district court in the Western District of New York has entered a final judgment by default against Tarek D. Bahgat, an investment adviser formerly based in Amherst, New York. The SEC’s complaint alleged that Bahgat misappropriated over […]
Prime brokers review Odey ties after misconduct allegations
(Hedgeweek) Allegations of sexual misconduct levelled at Odey Asset Management founder Crispin Odey have prompted prime brokers, including Goldman Sachs, JP Morgan and Morgan Stanley, to review their relationship with the hedge fund, according to a report by Reuters. To […]
S&P 500 futures are little changed as traders look ahead to key inflation data, Fed meeting: Live updates
(CNBC) S&P 500 futures were little changed Sunday night as traders looked ahead to the latest inflation data and the Federal Reserve policy meeting this week. S&P 500 futures added 0.14%. Dow Jones Industrial Average futures rose by 19 points, […]
George Soros hands control of his $25 billion empire to his son Alex
(CNBC) Philanthropist billionaire George Soros confirmed that he is handing control of his $25 billion empire to his son Alex. Soros, 92, has a net worth of $6.7 billion, according to Forbes, and is the one of the top 400 […]
AI surge propels Tiger Global to 15.5% YTD gain
(Hedgeweek) Tiger Global Management is among a number of technology-focused stock hedge funds that racked up further gains in May on the back of a surge in the value of AI-related businesses, with the fund up 6.5% over the month, […]
JPMorgan bond chief Bob Michele sees worrying echoes of 2008 in market calm
(CNBC) To at least one market veteran, the stock market’s resurgence after a string of bank failures and rapid interest rate hikes means only one thing: Watch out. The current period reminds Bob Michele, chief investment officer for JPMorgan Chase’s […]
Stock futures slip Thursday night after S&P 500 notches highest close for 2023: Live updates
(CNBC) U.S. stock futures ticked lower Thursday night after the S&P 500 notched its highest close for 2023. Dow Jones Industrial Average futures fell by 54 points, or 0.16%. S&P 500 futures dipped 0.12%, while Nasdaq 100 futures inched down […]
Trump indicted on seven criminal charges in classified documents case
(CNBC) Former President Donald Trump has been indicted on seven federal criminal charges in connection with hundreds of classified government documents he retained at his Florida home after leaving the White House. Trump himself disclosed the indictment in a series […]
Banks are cutting off Binance’s access to U.S. banking system, exchange says
(CNBC) Binance.US customers will no longer be able to use U.S. dollars to buy crypto on the platform as early as June 13, hobbling the exchange’s ability to do business in the United States, after both payment and banking partners “signaled […]
Meta CEO Mark Zuckerberg touts to employees ‘incredible breakthroughs’ the company has seen in A.I.
(CNBC) Meta CEO Mark Zuckerberg wants his workforce to know the company is in the middle of the artificial intelligence race. During a meeting with employees Thursday in the Hacker Square pavilion at Meta’s Menlo Park headquarters, Zuckerberg discussed Meta’s […]
Hedge fund performance mixed in May, says HFR
(Hedgeweek) Hedge funds posted mixed performance in May as banking volatility evolved throughout the month following the closure and acquisition of First Republic Bank by JPMorgan. While Financials and Energy declined, Technology and AI surged through May. To read this […]
Central banks have failed in efforts to tackle inflation, says Man’s Ellis
(Hedgeweek) The efforts of central banks around the world to tackle inflation have failed to have a meaningful impact, and threats to the broader global economy remain, according to a report by Reuters citing comments from Man Group Chief Executive […]