Monthly Archives: June 2024
OpenAI hires new CFO and product chief, announces Apple deal to integrate ChatGPT
(CNBC) OpenAI on Monday hired two top executives and announced a partnership with Apple that includes a ChatGPT-Siri integration, the company announced in two blog posts. The company said Sarah Friar, previously CEO of Nextdoor and finance chief at Square, is joining […]
Elon Musk threatens to ban Apple devices from his companies over OpenAI partnership
(CNBC) Elon Musk, the CEO of Tesla and SpaceX, threatened to ban Apple devices from his companies on Monday after the iPhone maker announced a partnership with OpenAI. In a series of posts on his social media platform X, Musk shared concerns about whether […]
Elliott takes $1.9 billion stake in Southwest Airlines, seeks to oust CEO and chair
(CNBC) Activist hedge fund Elliott Management has amassed a $1.9 billion stake in Southwest Airlines and plans to push for leadership changes at the airline that has lagged big rivals. Elliott is seeking to replace Southwest CEO Bob Jordan and Chairman Gary Kelly with outside candidates, […]
CrowdStrike rallies to record on cybersecurity company’s inclusion in S&P 500
(CNBC) CrowdStrike shares jumped 7% on Monday after an announcement that the cybersecurity software vendor was joining the S&P 500, replacing financial firm Comerica. S&P Dow Jones Indices said in a statement late Friday that CrowdStrike was being added to the benchmark index, along […]
Trump Media shares fall over 5% after new SEC filing with reaudited financial statement
(CNBC) Trump Media on Monday submitted an updated inspection of the company’s finances by a newly hired public accounting firm, after its last auditor was charged with fraud by the U.S. Securities and Exchange Commission. Shares of Trump Media ended the trading day down […]
SEC Charges Three New Yorkers for Raising More Than $184 Million Through Pre-IPO Fraud Schemes
(HedgeCo.Net) The Securities and Exchange Commission has charged three individuals with fraud for selling unregistered membership interests in LLCs that purported to invest in shares of pre-IPO companies, first on behalf of StraightPath Venture Partners LLC, the subject of the […]
Stock futures are little changed as traders look ahead to Fed decision, inflation data: Live updates
(CNBC) U.S. stock futures were little changed Sunday night after a winning week, as traders looked ahead to the Federal Reserve’s interest rate decision and May inflation data. Dow Jones Industrial Average futures fell by 13 points. S&P 500 futures […]
Bitcoin ETFs bring in a new investor who bucks the ‘HODL’ culture and rebalances as bitcoin soars
(CNBC) Crypto’s culture encourages investors to “HODL,” or hold on for dear life, in the rollercoaster ride of bitcoin’s extreme fluctuations. But this long-prized practice may diminish as adoption of ETFs grows, particularly if traditional investors who are accustomed to rebalancing their portfolios […]
Toyota lost over $15 billion in market value last week after being caught falsifying tests
(CNBC) Shares of Japanese automakers have largely plunged since the country’s transport ministry found false data used to certify certain models a week ago on Monday. Shares of Japan’s largest carmaker Toyota fell more than 5.4% last week, after the scandal broke on June […]
Synapse bankruptcy trustee says $85 million of customer savings is missing in fintech meltdown
(CNBC) Customers of fintech firms that used Synapse to link up with banks had $265 million in balances. But the banks themselves only had $180 million associated with those accounts, trustee Jelena McWilliams said in a report filed late Thursday. The missing […]
Hedge fund MSP Omega Systems acquires Amnet & Cloudpath
(Hedgeweek) Omega Systems, a managed service provider to the hedge funds industry, has acquired Amnet Technology Solutions and Cloudpath, providing clients of both firms with access to Omega’s portfolio of managed IT, cybersecurity and regulatory compliance services. To read this […]
EEX sees further growth in global power markets
(Hedgeweek) EEX Group global power markets were up 47% year-on-year in May at 952.5 TWh, mostly driven by further significant growth on the French (+140% YoY), the Spanish (+129% YoY), and Japanese (+128% YoY) EEX power derivatives markets. To read […]