Monthly Archives: September 2021
Allen Stanford’s Ponzi scheme recovery tops $1 billion
(Reuters) A court-appointed receiver has recouped more than $1 billion for victims of Texas financier Allen Stanford’s Ponzi scheme, the largest by dollar amount other than Bernard Madoff’s fraud, the receiver’s lawyers said on Monday. To read this article:
Stock futures rise following the S&P 500?s worst day since May; Fed meeting ahead
(CNBC) U.S. stock futures were higher in early morning trading on Tuesday following a major sell-off on Wall Street that resulted in the S&P 500?s worst day since May. Dow Jones futures jumped 242 points. S&P 500 futures and Nasdaq […]
House Democrats’ plan would prohibit individual retirement accounts from holding private equity, hedge funds
(CNBC) A tax package unveiled by House Democrats would forbid individual retirement accounts from holding certain private investments typically reserved for the wealthy. While proponents think the proposal would raise investor protection and reduce the use of an IRA as […]
The global economy could feel the effects of China’s Evergrande crisis. Here’s what investors should know
(CNBC) A liquidity crisis at a large Chinese property developer has shaken global markets, and strategists say it could send ripples across the global economy. But they also say the issue will likely be contained by the Chinese government before […]
Shell announces $9.5 billion sale of West Texas oil field assets to ConocoPhillips
(CNBC) The deal would mark Shell’s complete withdrawal from onshore production in Texas. Shell will maintain its offshore production in Texas. The move comes as the oil industry faces increasing pressure to invest in renewable energy and lower its carbon […]
SEC Charges Former Pharmaceutical Global IT Manager in $8 Million Insider Trading Scheme
(HedgeCo.Net) The Securities and Exchange Commission has announced insider trading charges against Dayakar R. Mallu, of Orlando, Florida, who generated gains and avoided losses totaling over $8 million by trading in the securities of his former employer, Mylan N.V., ahead […]
As stocks enter volatile period, Fed will not rock the boat further in the week ahead
(CNBC) The Federal Reserve’s much-anticipated meeting this week may not be quite as exciting for markets as some investors had been expecting in the usual choppy month of September. The meeting is the highlight of the coming week, traditionally a […]
Stock futures mixed after Dow notches three straight losing weeks for first time in 2021
(CNBC)U.S. stock futures were mixed in overnight trading Sunday after the Dow Jones Industrial Average turned in three straight weeks of losses for the first time since September 2020. Futures on the Dow shed 75 points. S&P 500 futures traded […]
After years of being ‘squeaky clean,’ the Federal Reserve is surrounded by controversy
(CNBC) The Federal Reserve has a big meeting on this week, one that will be held under the cloud of an ethical dilemma and will be run by a policymaking committee that finds itself with fairly pronounced divisions about the […]
Senate bill to end ETF tax break is ‘pretty unlikely to pass,’ market analyst says
(CNBC) One Senate Democrat’s proposal to end a tax break for exchange-traded funds is “pretty unlikely to pass,” ETF Trends chief investment officer and director of research Dave Nadig told CNBC’s “ETF Edge” this week. “I think the chances are […]
More money on way for Bernard Madoff victims, total payouts top $18 billion
(Reuters) Victims of Bernard Madoff’s Ponzi scheme can expect to soon receive another $568 million to help cover their losses, the U.S. Department of Justice said on Thursday, boosting total recoveries above $18 billion. To read this article:
SEC Charges New York Investment Adviser and Its Owner with Fraud
(HedgeCo.Net) The Securities and Exchange Commission has charged Raquel Moura Borges and her investment advisory firm, Global Access Investment Advisor, LLC, with fraud for misappropriating client assets. According to the SEC’s complaint, from 2013 to 2018, Borges, a Brazilian national, […]