Category Archives: Syndicated
Samsung Life, Kyobo Shun U.S., Europe for Korea Bonds
Bloomberg- South Korean life insurers are shunning U.S. and European corporate bonds because of a rising risk of default and plowing money into domestic debt. Samsung Life Insurance Co., Korea’s biggest insurer, is diverting $500 million into 10-year government bonds, […]
Ex-Samsung chief handed 3-year suspended jail term
Reuters- Former Samsung Group chief Lee Kun-hee, one of South Korea‘s most powerful businessmen, was handed a 3-year suspended jail sentence on Wednesday for tax evasion, but was cleared of other charges. The court also fined Lee 110 billion won […]
Vulture funds close in as Martinsa Fadesa falls
Reuters UK- Spanish property firm Martinsa Fadesa’s demise is a sign hedge funds are pushing hard to make profits out of ailing companies and may cause insolvencies in Spain to speed up. Hedge funds which bought Martinsa Fadesa debt at […]
Hedge for balance
Business Day South Africa- There seems little doubt hedge funds have started to play an important role in any balanced investment strategy. Novare Investments, which manages the Mayibentsha Fund of Funds, which was launched in April 2003 and has R1,7bn […]
Ko, former Bear trader, launches hedge fund
Reuters- Melissa Ko, a former star trader at Bear Stearns, has formed a new hedge fund called Covepoint Capital with nearly $1 billion in assets, according to a letter the firm sent to investors on Monday. Ko ran Bear’s Emerging […]
SEC Rumor Watch Draws Skepticism
New York Post- Wall Streeters who suspect that hedge funds are behind false rumors about Lehman Brothers and other banks say they’re skeptical that regulators will be able to find and punish those responsible. "I would love to have someone […]
Top funds may have lost $4 bln on Freddie and Fannie
Reuters- Some of the best known U.S. fund firms probably suffered significant losses in last week’s meltdown in the stocks of mortgage finance agencies Fannie Mae and Freddie Mac. Among the casualties may be the one-time star stock-picker Bill Miller […]
Delphi hires bank to sell brake unit
Detroit Free Press- Delphi Corp. has hired a Detroit investment bank to find a buyer for its brake business, which has been for sale for more than two years. The Troy supplier said Monday that it hired W.Y. Campbell & […]
Wall Street Cuts Off Paramount: No Takers For $450 Million Movie
The Business Sheet- After spending nine months trying to close a $450-million film financing deal to offset the cost of 30 upcoming movies, Paramount has been forced to give up the chase. The studio was working with Deutsche Bank to […]
Wall Street’s woes escalate ahead of earnings wave
Yahoo News- Investors can’t seem to catch a break — Wall Street again starts a week with oil prices at their highest levels yet, and banks poised to reveal that they remain on shaky footing. None of the troubles that […]
TCI Hedge Fund Posts Biggest Monthly Loss in June, FT Reports
Bloomberg- The Children’s Investment Fund Management LLP, a London-based hedge fund, lost more than $1 billion in June, posting its biggest-ever monthly loss, the Financial Times reported. The five-year-old fund, also known as TCI, dropped 12.5 percent last month, topping […]
Cerberus’ Snow Compares Fannie, Freddie To Hedge Funds
FINalternatives- It’s not the first time “hedge fund” has been used as an epithet, but a former U.S. Treasury chief is using the H.F. words to describe mortgage giants Fannie Mae and Freddie Mac. The two firms, into which Treasury […]