Monthly Archives: September 2023
JPMorgan legal fees in Jeffrey Epstein sex traffic cases near $14 million, former exec reveals
(CNBC) JPMorgan Chase has racked up nearly $14 million in legal fees defending itself against two lawsuits alleging it abetted the sex trafficking by its longtime customer Jeffrey Epstein, according to lawyers for a former top executive who says he […]
Wall Street’s ‘meh’ response to tech IPOs shows Silicon Valley’s valuation problem
(CNBC) After a 21-month tech IPO freeze, the market has cracked opened in the past week. But the early results can’t be encouraging to any late-stage startups lingering on the sidelines. Chip designer Arm debuted last Thursday, followed by grocery-delivery […]
Hedge funds pull the plug on energy stocks
(Hedgeweek) Despite a rally in oil prices triggered by the prospect of a widening supply deficit, hedge funds sold energy stocks last week for the first time in three weeks, according to a report by Reuters citing information from Goldman […]
Bridgewater sees surge in onshore China assets as flagship fund flourishes
(Hedgeweek) Bridgewater Associates has seen a surge in assets from wealthy Chinese investors on the back of strong performance by its flagship China fund, which has gained 11% this year as of August, according to a report by Bloomberg. To […]
Fed declines to hike, but points to rates staying higher for longer
(CNBC) The Federal Reserve held interest rates steady in a decision released Wednesday, while also indicating it still expects one more hike before the end of the year and fewer cuts than previously indicated next year. That final increase, if […]
Stock futures edge lower after Fed skips a rate hike, but signals another increase is coming: Live updates
(CNBC) Stock futures traded near the flat line Wednesday night as investors parsed through the Federal Reserve’s projections made earlier in the day. Futures tied to the Dow Jones Industrial Average were lower by 14 points, or 0.04%. S&P 500 […]
GM and Stellantis just laid off more than 2,000 additional workers because of the UAW’s strike
(CNBC) General Motors and Stellantis said they have laid off additional workers because of consequences related to the United Auto Workers strike. GM said in a statement Wednesday that it has halted production at its assembly plant in Fairfax, Kansas, […]
Instacart’s 11% plunge on second day of trading wipes out almost all of its IPO gains
(CNBC) Instacart shares slumped nearly 11% in their second day of trading Wednesday, continuing a slide that began immediately after the stock hit the Nasdaq on Tuesday, and leaving it narrowly above its initial public offering price. To read this […]
Digital asset funds see $455m outflows in nine weeks
(Hedgeweek) Digital asset investment products saw outflows totalling $54m last week, and have now seen outflows in eight of the last nine weeks totalling $455m, according to the latest Digital Asset Fund Flows Weekly report from CoinShares. To read this […]
New York Firm Charged with Acting as Unregistered Investment Advisers to Former Russian Billionaire
Firm and Owner’s failures to register prevented oversight of more than $7 billion in assets ((HedgeCo.Net) The Securities and Exchange Commission has filed charges against Concord Management LLC of Tarrytown, New York, and its owner and principal, Michael Matlin, for […]
Dalio still making presence felt at Bridgewater
(Hedgeweek) It may be almost a year since Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, ‘retired’ and stepped away from the day-to-day running of the business, but his presence still looms large over the firm, […]
FTX accuses Sam Bankman-Fried’s mother of being key advisor to son on political contributions
(CNBC) The mother of former cryptocurrency king Sam Bankman-Fried is being accused in a new lawsuit of acting as a key advisor to her son and his allies for political campaign contributions that later led to criminal charges against him […]
