Monthly Archives: August 2023
Price rally sees hedge funds turn more bullish on energy
(Hedgeweek) A rally in prices across the energy complex, which has seen crude prices climb above $80 a barrel and petrol prices surge to multi-month highs, has prompted hedge funds to up their bullish wagers wagers in the sector, according […]
Advisory Firm and Executives Charged with Devising Scheme to Defraud Clients out of $75 Million
(HedgeCo.Net) The Securities and Exchange Commission has charged two North Carolina-based executives, Gregory E. Lindberg and Christopher Herwig, and their Malta-based registered investment adviser, Standard Advisory Services Limited, for defrauding clients out of more than $75 million through undisclosed transactions […]
Snap will lay off 20% of staff, report says
(CNBC) Snap is laying off 20% of its workforce, which equates to over 1,000 employees, according to a report published Tuesday by the Verge. The layoffs will begin on Wednesday, the report said, and will affect certain departments including hardware […]
BYD plunges after Buffett trims his stake; one fund manager says it could be a warning sign
(CNBC) Hong Kong-listed shares of BYD tumbled on Wednesday after Warren Buffett’s Berkshire Hathaway trimmed its stake in the Chinese electric car maker — and one fund manager said this could be a warning sign of more to come. To […]
Stock futures rise after Wall Street’s sell-off stretches into third day
(CNBC) Stock futures were higher early Wednesday after Wall Street’s losing streak stretched into its third day and endangered the market’s recent summer rebound. Shares of Chewy tumbled more than 11% in extended trading after the pet products retailer issued […]
Fed’s Williams pushes back on market expectations of a rate cut next year
(CNBC) New York Federal Reserve President John Williams said Tuesday he expects interest rates to continue higher and to remain at those levels until inflation is subdued. Echoing recent comments from Fed Chair Jerome Powell, Williams told The Wall Street […]
Job openings top 11.2 million in July, well above estimate and nearly double the available workers
(CNBC) There were nearly 1 million more job openings than expected in July, an inflationary sign that the U.S. labor market is still extremely tight, the Bureau of Labor Statistics reported Tuesday. Available positions totaled 11.24 million for the month, […]
Genstar Capital acquires Numerix
(Hedgeweek) Numerix, a specialist in capital markets risk management technology and approve idea of software used by a wide range of buy-side firm including hedge funds, has been acquired by Genstar Capital. To read this article:
SEC Obtains Court Order to Enforce Investigative Subpoenas for Production of Documents by GP Capital and Its President
(HedeCo.Net) The Hon. Ronnie Abrams, United States District Judge for the Southern District of New York, granted the Securities and Exchange Commission’s application to enforce subpoenas for production of documents issued to GP Capital Group, Inc., a Wyoming corporation headquartered […]
Lone Pine Assets Shrivel as Hedge Fund Reels From Record Losses
(Bloomberg) Lone Pine Capital is facing its biggest challenge since Steve Mandel founded the firm a quarter-century ago, with its $5.8 billion hedge fund down the most in its history. The hedge and long-only funds are both mired in a […]
Cryptoverse: Bleeding bitcoin’s holding out for a hero
(Reuters)The world’s biggest cryptocurrency can’t seem to catch a break. It finally looked to be regaining strength this month, breaching $25,000 for the first time since its June collapse, only to relapse towards $20,000. A deflating end to August has […]
Stock futures rise slightly after second-straight negative session
(CNBC) Stock futures ticked higher on Tuesday morning as Wall Street sought stability after another down day for stocks. Futures for the S&P 500 inched upward by 0.38%, while Nasdaq 100 futures also added 0.50%. Futures for the Dow Jones […]
