Monthly Archives: June 2008
Morgan Stanley, Citi Lose Oil Analysts as Hedge Funds Hire
Bloomberg- Wall Street is losing its top oil analysts as securities firms suffer record losses and hedge funds offer the promise of higher pay. Morgan Stanley’s Douglas Terreson and Citigroup Inc.’s Doug Leggate, ranked first and second by Institutional Investor […]
Embattled UBS wraps up bumper rights issue
FRANKFURT (Reuters)- UBS has wrapped up a 16 billion franc rights issue, the Swiss bank’s second effort to resuscitate finances that have been ravaged by the global markets crisis. It is the latest in a line of major banks including […]
Ashmore fund offers $827 mln for rest of Manila
MANILA (Reuters) – A unit of investment fund Ashmore Group said on Friday it has offered to buy the remaining 60 percent stake in Philippine oil refiner Petron for nearly $827 million, which would give it full control of the company. […]
Hedge funds badly burnt in inflation expectations bet
Telegraph.co.uk- Hedge funds have suffered major losses after wrongly betting that market inflation expectations would fall, the Bank of England has said. The Bank reported that many hedge funds had been badly burnt after market expectations for inflation rose to […]
Exxon to exit U.S. retail gas business
Reuters- Exxon Mobil Corp said it is getting out of the retail gas business in the United States as sky-high crude oil prices squeeze margins. Those branded service stations may be the most public aspect of Exxon’s business, but they […]
Yahoo now faces more pressure, hedge funds say
Reuters- Officially, a potential $47.5 billion deal for Microsoft Corp to buy Yahoo Inc is over, at least for now. But longer term, hedge fund managers and analysts said the Yahoo board now faces more pressure than ever to deliver […]
Transpacific blames hedge funds for shorting stock
Sydney Morning Herald- The waste management business Transpacific has attempted to snuff out concerns about its ability to service its $2.6 billion of debts, arguing that the market has failed to recognise its "incredible cash flow" and the value of […]
Bear Stearns Hedge Fund Managers getting indicted for starting credit crisis
India Daily- The Bear Stearns Hedge Fund Managers are getting indicted for starting the credit crisis. According to media sources, Federal prosecutors are preparing to file criminal charges against managers of two Bear Stearns Cos. hedge funds whose collapse helped […]
Strategy Sought at Global Hedge Fund Conference
West Palm Beach (HedgeCo.net)- Hedge fund managers, gurus and ‘Out of the box’ guest speakers are gathering at the Grimaldi Forum to debate distressed investing issues and macro strategies for 2008. The 14th Annual Gaim International 2008, a global hedge fund industry conference is […]
Odey launches funds of hedge funds operation
Wealth Bulletin- Odey Asset Management has created a fund of hedge funds subsidiary to broaden its offering to wealthy investors. It has hired two people from Credit Suisse to run the business from Guernsey. The business marks a new direction […]
Hedge funds to continue quest for board seats despite ruling
New York (HedgeCo.Net) – The proxy battle waged by two hedge funds against railroad operator CSX is far from over, despite a ruling against the funds last week. TCI, who runs the Children’s Investment Fund of Britain, and 3G Capital […]
Fraudulent hedge fund manager still missing, may be armed
New York (HedgeCo.Net) – The manhunt continues for former Bayou hedge fund manager Sam Israel, who went missing just hours before his scheduled jail term of 20 years. Israel’s 2006 GMC SUV was found abandoned on the bank of the […]