Monthly Archives: March 2021
Federal Court Orders UK Man to Pay More Than $571 Million for Operating Fraudulent Bitcoin Trading Scheme
(HedgeCo.Net) The Commodity Futures Trading Commission today announced that the U.S. District Court for the Southern District of New York entered a default judgment against Benjamin Reynolds, purportedly of Manchester, England, finding that he operated a fraudulent scheme to solicit […]
Apollo’s Leon Black To Step Down from Prominent Board as Chairman
(Reuters) Leon Black, co-founder of private equity firm Apollo Global Management Inc, would not stand for re-election as chairman of the Museum of Modern Art (MoMA), the New York Times reported, citing people with knowledge of the decision. Black, 69, […]
Deutsche Bank can sue Madoff feeder funds over $1.6 billion claims sale
(Reuters) A U.S. judge said on Friday Deutsche Bank AG may sue two offshore funds for allegedly reneging on an agreement to sell the German bank $1.6 billion of claims in the bankruptcy of swindler Bernard Madoff’s namesake firm. Deutsche […]
Credit Suisse takes hit from U.S. hedge fund; warns of ‘highly significant’ losses
(CNBC) Credit Suisse warned Monday of a “highly significant” hit to to its first-quarter results, after it began exiting positions with a large U.S. hedge fund that defaulted on margin calls last week. In a trading update before the market […]
Stock futures fall after S&P 500?s Friday record close
(CNBC) Stock futures dipped in early morning trading Monday after a rush of broad based late buying pushed the S&P 500 to a record high in the final minutes of the previous session. Futures on the Dow Jones Industrial Average […]
Investors BlackRock, Vanguard join net zero effort
(Reuters) Top asset managers BlackRock Inc and Vanguard Group Inc have joined an investor push to limit greenhouse gas emissions to net zero by 2050, giving new momentum to the effort despite concerns its goals have some wiggle room. The […]
The end of the quarter could create volatility for markets in the week ahead
(CNBC) Stocks could be buffeted by end-of-quarter trading in the week ahead, as pension funds and other big investors buy bonds and sell stocks to rebalance their portfolios. The dramatic move higher in bond yields this quarter sets up fund […]
The Fed has embraced the ‘punchbowl’ and has no intention of taking it away
(CNBC) The Federal Reserve has come a long way from the days of warning about “irrational exuberance.” Former Fed Chairman Alan Greenspan famously sent up a flare in December 1996 about stretched asset valuations triggered by wild dot-com speculation that […]
CFTC Orders Coinbase Inc. to Pay $6.5 Million for False, Misleading, or Inaccurate Reporting and Wash Trading
(HedgeCo.Net) The Commodity Futures Trading Commission has issued an order filing and settling charges against digital asset exchange operator Coinbase Inc., based in San Francisco, California, for reckless false, misleading, or inaccurate reporting as well as wash trading by a […]
Hedge fund short sellers boosted after staggering Cineworld losses send shares plummeting
(Hedgeweek) Cineworld, a long-standing target of hedge fund short sellers, saw its share price plummet on Thursday after the group slumped to an eye-watering USD3 billion pre-tax loss last year as a result of the coronavirus pandemic. To read this […]
Long-running trend-following hedge fund Drury Capital scores double-digit returns.
(HedgeWeek)Drury Capital, the long-running US trend-following hedge fund firm led by former grain trader Bernard Drury, has soared into double-digit territory this year, with both its established flagship fund and recently-launched multi-strategy futures fund making gains across commodities and equities […]
Powell praises economic recovery and sees Fed pulling back help after ‘substantial’ progress
(CNBC) Powerful fiscal help from Congress combined with accelerated vaccine distribution has allowed the U.S. economy to recover faster than expected, Federal Reserve Chairman Jerome Powell said Thursday. At some point, that will allow the central bank to dial back […]