Monthly Archives: June 2008
Hedge fund sells shares after Vaalco proxy fight ends
Houston Business Journal – A noisy, contentious proxy battle ended quietly Wednesday when shareholders of Vaalco Energy Inc. voted in the company’s chosen slate of board directors. Houston-based Vaalco (NYSE:EGY) had spent the past three months fending off an attack […]
Icahn, Yahoo Shareholders want Yang out
New York (HedgeCo.Net) – Carl Icahn continues his quest to shake up the board of Yahoo, and this time, that includes ousting CEO Jerry Yang. According to the Wall Street Journal, Icahn is channeling shareholder complaints in hopes to fuel […]
Soros points a finger at institutional investors
Houston Chronicle – Billionaire investor George Soros told a Senate panel Tuesday that the run-up in oil prices has "some of the earmarks" of a bubble and that institutional investors stampeding into commodities are helping raise prices. Appearing before the […]
RBS Rises on Speculation Hedge Fund Will Seek Breakup
Bloomberg – Royal Bank of Scotland Group Plc led gains for European banking stocks on speculation that demand for its rights offer is strong and a U.K. hedge fund is buying shares to push for a breakup. Edinburgh-based RBS, Britain’s […]
Hedge fund attacks Lion on Indophil sale plan
The Age- Plans by Melbourne-based Lion Selection to sell its stake in Indophil to Xstrata for $1 a share have come under attack from London hedge fund Carrousel Capital. The move raises the prospect that Indophil can turn the tables […]
BBA to beef up supervision of its Libor rates
Reuters- The group in charge of setting Libor interest rates said on Friday it will strengthen oversight of the global interbank lending benchmark, months after it became seriously distorted by the credit crisis. The British Bankers Association said on its […]
Food speculation spurs US trading crackdown
Globe and Mail- U.S. commodities regulators slapped wide-ranging reforms on food futures markets yesterday, aiming to curtail speculation amid soaring global food prices. Facing growing pressure from lawmakers, the Commodity Futures Trading Commission will demand more disclosure from institutional investors […]
Barbarians at Japan’s gates
On July 8, 1853, Commodore Matthew Perry of the United States Navy sailed into Tokyo Bay with four warships. The American show of force ended 200 years of self-imposed isolation for Japan, compelling it to end its strict limits on […]
Lehman Bros. denies tapping Fed
Seattle Times- Lehman Brothers on Tuesday denied that it was forced to tap the Federal Reserve’s discount window to stave off cash problems, and maintains that its books remain liquid. The nation’s fourth-biggest investment bank was battered Tuesday amid reports […]
The key base for hedge funds: propriety
Globe and Mail- Hedge funds have turned into the market’s favourite scapegoat, blamed for just about every conceivable ill wind blowing through the global economy, from skyrocketing energy and food prices to the woes of Wall Street investment banks, the […]
Hedge Fund Fraudster Manhunt Comes to an End
New York (HedgeCo.Net) – The international man hunt for Sam Israel came to an end yesterday when the hedge fund fraudster turned himself over to authorities. Israel turned himself into the Southwick, Mass., police station around 9:30 a.m., said […]