Monthly Archives: April 2023
Chatham Asset Management settles SEC charges over improper trades
(Hedgeweek) New Jersey based hedge fund Chatham Asset Management and the firm’s founder Anthony Melchiorre have agreed to pay more than $19.3 million to settle Securities and Exchange Commission (SEC) charges that they improperly traded fixed income securities. To read […]
Merrill Lynch to Pay $9.5-Million for Failing to Disclose Foreign Exchange Fees to Clients
(HedgeCo.Net) The Securities and Exchange Commission has charged Merrill Lynch, Pierce, Fenner & Smith Incorporated for charging advisory clients more than $4 million in undisclosed foreign exchange fees for transfers to or from their accounts. To settle the charges, Merrill […]
Stock futures inch lower Tuesday morning: Live updates
(CNBC) Stock futures inched lower Tuesday morning as investors weighed a spike in oil prices that led the S&P 500 higher to start the new trading month. Futures tied to the Dow Jones Industrial Average inched down by 11 points […]
Virgin Orbit files for Chapter 11 bankruptcy protection in the U.S
(CNBC) Virgin Orbit on Tuesday filed for Chapter 11 bankruptcy protection in the U.S. after failing to secure a funding lifeline. “While we have taken great efforts to address our financial position and secure additional financing, we ultimately must do […]
Dogecoin jumps more than 30% after Musk changes Twitter logo to image of shiba inu
(CNBC) Niche cryptocurrency dogecoin spiked more than 30% on Monday after Twitter CEO Elon Musk replaced the blue bird on his company’s website with an image of a shiba inu, the digital coin’s logo. Attorneys for Twitter and Musk have […]
McDonald’s closes corporate offices as it lays off hundreds of workers
(CNBC) McDonald’s is closing its U.S. corporate offices Monday through Wednesday as the company lays off hundreds of workers, a person familiar with the matter told CNBC. CEO Chris Kempczinski announced in January that the company would be cutting jobs […]
Tesla shares drop after deliveries report raises investor concern that more price cuts are coming
(CNBC) Tesla shares closed down 6% on Monday after the company’s quarterly deliveries report led some investors to worry that more price cuts will be needed to drive sales, eating into margins. Tesla reported first-quarter deliveries of 422,875 electric vehicles […]
Google to cut down on employee laptops, services and staplers for ‘multi-year’ savings
(CNBC) Google’s finance chief Ruth Porat recently said in a rare companywide email that the company is making cuts to employee services. “These are big, multi-year efforts,” Porat said in an email titled: “Our company-wide OKR on durable savings.” Google […]
Apple’s Tim Cook, Disney’s Bob Iger to discuss China with lawmakers
(CNBC) A group of lawmakers will travel to California to meet with tech and media executives, including Apple CEO Tim Cook and Disney CEO Bob Iger, to discuss China-related topics. Nearly a dozen lawmakers representing both parties on the House […]
Hedge Fund Trader and Broker-Dealer Partner Charged in Multi-Million Dollar Spac Insider Trading Scheme
(HedgeCo.Net) The Securities and Exchange Commission has filed insider trading charges against Sean Wygovsky, a former trader at a Canadian asset management firm, and Christopher Matthaei, a former partner at a U.S. broker-dealer, for using nonpublic information in advance of […]
Nasdaq 100 futures slip ahead of first trading day of the second quarter: Live updates
(CNBC) Nasdaq 100 futures retreated on Sunday evening as Wall Street turned its attention to the start of the second quarter. Nasdaq 100 futures shed 0.36%, while S&P 500 futures slid 0.10%. Futures for the Dow Jones Industrial Average ticked […]
McDonald’s reportedly temporarily shuts its U.S. offices and prepares layoff notices
(CNBC) Burger chain McDonald’s is temporarily closing its U.S. offices this week as it prepares to inform corporate employees about its layoffs as part of a broader company restructuring, The Wall Street Journal reported on Sunday. In an internal email […]