Monthly Archives: September 2023
AssetMark To Pay $18m for Failing to Disclose Multiple Financial Conflicts
(HedgeCo,Net) The Securities and Exchange Commission has announced that Concord, California-based registered investment adviser AssetMark Inc. has agreed to pay more than $18 million to settle charges related to undisclosed conflicts of interest involving a cash sweep program operated by […]
Shares of Evergrande have been suspended amid reports its chairman is under surveillance
(CNBC) Shares of China Evergrande Group were suspended on Thursday, Hong Kong’s exchange announced. The chairman of the embattled Chinese real estate developer has reportedly been placed under surveillance, according to Bloomberg News. To read this article:
Bruderman Asset Management and its Principal Charged for Failing to Disclose Misuse of Investment Funds
(HedgeCo.Net) The Securities and Exchange Commission has announced that New York-based Bruderman Asset Management LLC (BAM) and its principal, Matthew J. Bruderman, agreed to settle charges related to their failure to disclose the misuse of proceeds raised from investment advisory […]
Citadel’s Griffin to join consortium bidding for Telegraph Group
(Hedgeweek) A consortium of investors led by Marshall Wace co-founder Paul Marshall looking to prepare a bid to acquire the Telegraph Group – publisher of the UK’s Daily and Sunday Telegraph newspapers – has won the support of Citadel founder […]
Meta CEO Mark Zuckerberg looks to digital assistants, smart glasses and AI to help metaverse push
(CNBC) Meta has new artificial intelligence tools and celebrity-endorsed digital assistants that CEO Mark Zuckerberg hopes will help to jump-start the metaverse. Zuckerberg showed off the AI software as well as the company’s new Quest 3 virtual reality headset and […]
Hedge funds boost bearish equities bets and cut stock leverage
(Hedgeweek)With appetite for equities subsiding last week after a 20% rally this year on the back of investor excitement over artificial intelligence, hedge funds are ramping up their bets against stocks, according to a report by Bloomberg. To read this […]
Jamie Dimon: Get Ready For 7% Global Rates As “Sugar Shock” Fades
(Fortune) Wall Street was spooked last week when the Federal Reserve said it would keep interest rates higher for longer than previously anticipated—but according to JPMorgan boss Jamie Dimon, the world is still unprepared for the potential “stress” on the horizon. To read this […]
Costco tops quarterly earnings expectations, even as sales remain soft
(CNBC) Traffic rose 5.2% worldwide and 5% in the U.S. on a year-over-year basis. Costco’s average transaction amount in the quarter dropped nearly 4% worldwide and 4.5% in the U.S., he said. To read this article:
Stock futures are little changed after Tuesday’s sharp losses: Live updates
(CNBC) U.S. stock futures traded near the flatline Tuesday night. Dow Jones Industrial Average futures rose by 34 points, or 0.1%. Futures linked to the S&P 500 inched up 0.1%, while Nasdaq 100 futures added 0.1%. Shares of Costco fell 2.5% […]
FTC and 17 states sue Amazon on antitrust charges
(CNBC) The Federal Trade Commission has filed its long-anticipated antitrust lawsuit against Amazon. In a sweeping complaint filed in federal court in Seattle on Tuesday, the FTC and attorneys general from 17 states accused Amazon of wielding its “monopoly power” […]
Digital asset funds see sixth week of outflows
(Hedgeweek) Digital asset investment products saw outflows for the sixth consecutive week last week with investors pulling $9m in total, according to a the latest Digital Asset Fund Flows Weekly Report from CoinShares. To read this article:
Cash-flow’ podcaster made off with millions in Ponzi scheme, SEC alleges
(Hedgeco.Net) The Securities and Exchange Commission has charged Matthew Motil, host of the podcast, “The Cash Flow King,” for fraudulently raising approximately $11 million from more than 50 investors in a Ponzi scheme involving notes that were purportedly backed by […]