Monthly Archives: March 2008
Pilot seniority dispute jeopardizes NWA, Delta merger
Minneapolis Star Tribune- On hold for nearly a month, the merger deal between Northwest Airlines and Delta Air Lines is in danger of being called off. Lee Moak, the Delta pilots union chairman, disclosed Monday that the two airlines’ pilot […]
Liquidity of Singapore banks, hedge funds sound
Reuters- Singapore’s central bank said on Monday the city-state’s banks and hedge funds have enough cash amid the global turmoil in financial markets. Financial markets have been roiled by fears that more banks and hedge funds may be on the […]
JPMorgan to buy Bear as Fed opens lending to Wall St
NEW YORK (Reuters) – JPMorgan Chase & Co set a deal to buy stricken rival Bear Stearns for a rock-bottom price, while the U.S. Federal Reserve expanded lending to securities firms for the first time since the Great Depression to […]
Father Daughter Con Team Lure $70 Million Away from Elderly
West Palm Beach (HedgeCo.Net) – Father does not always know best… especially when he recruits his daughter to help him scheme over 15,000 Britons out of $70 million. Paul Robert Gunter, 58, and Zibiah Joy Gunter, 25, have allegedly been […]
Heller Joins Hedge Fund Association Board of Directors
West Palm Beach (HedgeCo.Net)- Richard Heller, a partner with the law firm Thompson Hine LLP, has been appointed to serve on the Hedge Fund Association 2008 board of directors. The Hedge Fund Association is an international not-for-profit association of hedge […]
Budget move to open up more funds to UK investors
LONDON (Reuters)- UK investors will have access to a much greater range of investment funds after the Treasury said on Wednesday it plans to extend favourable tax treatment to more offshore funds. The Treasury said that in order to qualify […]
The $240 Million Acquisition Of Bear Stearns
West Palm Beach (HedgeCo.Net)- JPMorgan Chase & Co. announced the acquisition of Bear Stearns Companies Inc. The Boards of Directors of both companies have unanimously approved the transaction. Based on the closing price of March 15, 2008, the transaction would […]
Turbulent hedge fund industry set for more failures
LONDON (Reuters)- The collapse of hedge fund Peloton last week is unlikely to be the last in the $2.5 trillion (1.2 trillion pound) industry as credit conditions tighten. London-based Peloton Partners, which had held nearly $3 billion in assets, is […]
Govt Funds Heat Up Oil Prices
The Associated Press- As oil prices charge past $110 a barrel, analysts say government-run investment funds from oil-rich nations may be adding speculative heat to an already red-hot market. By placing bets in futures markets, these sovereign-wealth funds are no […]
ICBC, Standard Bank set up resource fund
BEIJING (Reuters)- Industrial and Commercial Bank of China ICBC.L has signed a final agreement with South Africa’s Standard Bank to jointly set up a $1 billion global resource fund, a person familiar with the matter said. A formal announcement on […]
Touradji Says Commodity ‘Buying Orgy’ Increases Risks
Bloomberg- Paul Touradji, founder of the $3.5 billion hedge fund Touradji Capital Management LP, told clients a “buying orgy” in commodities had inflated prices and increased risks of a collapse. Commodities “have all gone parabolically higher on frenzied money flow,” […]
Hedge Funds, Once a Windfall, Contribute to Bear’s Downfall
Wall Street Journal- The hedge-fund business came back to haunt Bear Stearns last week, however, as a wave of nervous funds pulled their accounts, helping to put the brokerage firm in a precarious position. The moves, which came even though […]