Monthly Archives: August 2023
SoftBank is in talks to buy Vision Fund’s 25% stake in Arm, sources say
(CNBC) SoftBank is in talks to acquire the 25% stake in Arm it does not directly own from Vision Fund 1 (VF1), a $100 billion investment fund it raised in 2017, according to people familiar with the matter, potentially delivering […]
U.S. judge sends FTX’s Sam Bankman-Fried to jail over witness tampering
(CNBC) Sam Bankman-Fried headed to jail on Friday after a judge sided with a request by federal prosecutors to revoke the FTX founder’s bail over alleged witness tampering. Bankman-Fried was remanded to custody directly from a court hearing in New […]
Neave pulls plug on Odey AM fund’s gilt shorts
(Hedgeweek) Freddie Neave, who took over the management of Odey Asset Management’s European Inc fund following the departure of the firm’s founder Crispin Odey, has dropped the fund’s short positions against UK government bonds, according to a report by Reuters. […]
Crypto Asset Trading Platform Bittrex Settles SEC Charges for Operating an Unregistered Exchange, Broker, and Clearing Agency
(HedgeCo.Net) The Securities and Exchange Commission has just announced that crypto asset trading platform Bittrex Inc. and its co-founder and former CEO, William Shihara, agreed to settle charges that they operated an unregistered national securities exchange, broker, and clearing agency. […]
UBS ends Credit Suisse dependence on Swiss central bank loan
(CNBC) UBS on Friday said that it has ended a 9 billion Swiss franc ($10.27 billion) loss protection agreement and a 100 billion Swiss franc publicly liquidity backstop that were put in place by the Swiss government when it took […]
Tech investors face ‘new era’ of China restrictions after Biden order limits funding in A.I., chips
(CNBC) The Biden administration’s executive order restricting U.S. private equity and venture capital investments in Chinese technology finally landed on Wednesday. For U.S. tech investors who’d already grown wary of the budding cross-Pacific rivalry, the ruling is the clearest signal […]
Stock futures rise slightly after July’s cooler-than-anticipated consumer inflation reading: Live updates
(CNBC) U.S. stock futures inched up on Thursday night as traders mulled over July’s consumer inflation report and looked ahead to wholesale prices data. Futures linked to the Dow Jones Industrial Average rose by 38 points, or 0.1%. S&P 500 […]
Hedge funds bet against EVs, AI and luxury goods
(Hedgeweek) Electric vehicle (EV) maker Tesla, Gucci owner Kering, and Japanese chip manufacturer Advantest are among the large-cap stocks with the highest percentage of funds betting against them, according to a data from Hazeltree, a provider of treasury services to […]
Coach owner Tapestry to acquire Michael Kors, Jimmy Choo parent Capri Holdings for $8.5 billion
(CNBC) Tapestry, the fashion conglomerate behind Coach and Kate Spade, will acquire competitor Capri Holdings in a $8.5 billion deal announced Thursday. The transaction will create an American fashion giant that — while still not quite as large as its […]
Saba’s flagship fund down YTD despite stock rally
(Hedgeweek) Saba Capital Management, the hedge fund firm founded by Boaz Weinstein, has seen its flagship hedge fund rack up losses of 7.7% so far this year after bearish bets backfired amid the recent stock market rally, according to a […]
Wegovy-maker Novo Nordisk sales soar 30% on strong demand for its weight-loss drug
(CNBC) Novo Nordisk, which makes the weight-loss drug Wegovy, raised its outlook for 2023 Thursday, as it reported soaring sales. The Danish pharmaceutical company reported a 30% increase in sales (at constant exchange rates) for the first half of this […]
Disney posts mixed results for quarter plagued by streaming woes, restructuring costs
(CNBC) Disney posted mixed results for its fiscal third quarter, Subscriber losses continued over the last three months, with the company reporting 146.1 million Disney+ subscribers during the most recent quarter, a 7.4% decline from the previous quarter and a […]