Author Archives: the HedgeCo News Team
Ex-bank official charged in fund case
A former executive at Canadian Imperial Bank of Commerce was arrested Tuesday and faces criminal and civil charges by U.S. regulators in an illegal mutual fund trading scheme. New York Attorney General Eliot Spitzer’s office arrested Paul Flynn, a former […]
SHARES AND MARKET REPORT: US hedge fund stake building puts spark into British Energy
SHARES IN the electricity generator British Energy have been set alight in the past week by news that the US hedge fund Appaloosa has taken a 4 per cent stake in the company. The shares rose afurther 21 per cent, […]
Amvescap sets aside pounds 20m for US market timing investigation
AMVESCAP, THE Anglo-American fund manager, yesterday revealed that it had set aside more than pounds 20m to cover the costs of an investigation by US authorities into examples of controversial markettiming trading within its business. The company included a pounds […]
CORRECTION: SEC Probes Fund Tied to U.S. Bancorp
Feb. 4–The Milwaukee Journal Sentinel has moved a correction for the story slugged MW-MUTUAL filed by Knight Ridder/Tribune Business News for Feb. 4. The new version deletes the penultimate grafbeginning “Milwaukee’s Artisan Partners …” to remove the company from the […]
Nightly Business Report
xfdce NIGHTLY-BUSINESS-REPO-00 Show: NIGHTLY BUSINESS REPORT> Date: February 4, 2004> Time: 18:30:00> Tran: 020400cb.118> Type: SHOW> Head: Nightly Business Report> Sect: Business> Byline: Susie Gharib, Jeff Yastine> Guest: Ronald Sugar, Kevin McCormally> Spec: Business; Economy> Time: 00:00:00> SUSIE GHARIB, NIGHTLY […]
Shell gets jitters ahead of crunch day for chairman ; Market Report
THE City fears tomorrow could be D-Day for oil giant Shell when it unveils fourth-quarter and full year results. Fourth-quarter earnings are expected to be down by almost a third after a previously announced write-off totalling Pounds 1 billion. Analysts […]
Hedge Watch
A NEW index of hedge funds is to join the FTSE 100 and the FTSE All Share among the barometers of investment returns. FTSE Group announced plans to launch FTSE Hedge, an index reflecting theperformance of 40 hedge funds worldwide, […]
Franklin Funds Parent Accused of Fraud
BOSTON (AP) – State regulators accused the parent company of mutual fund firm Franklin Templeton of fraud Wednesday for allegedly allowing a Las Vegas businessman to market time $45 million in mutualfunds in exchange for a $10 million investment in […]
Janus Reports $63M in Fourth-Quarter Costs
Janus Capital Group Inc. reported $62.8 million in fourth-quarter costs related to mutual fund investigations Wednesday, putting a slight crimp in earnings for the period that surged on a one-timegain. The Denver-based company reported net income of $812.9 million, or […]
Tokyo Stocks Further Down in Morning on Weaker Dollar
Tokyo, Feb. 4 (Jiji Press)–Stocks ceded further ground on the Tokyo Stock Exchange Wednesday morning, as the dollar’s continued weakness weighed on shares of major high technology firms andautomakers. At the morning close, the 225-issue Nikkei average stood down 128.16 […]
SEC probes fund tied to U.S. Bancorp
SEC probes fund tied to U.S. Bancorp City firm says it told agency of trade concerns By PAUL GORES [email protected], Journal Sentinel Wednesday, February 4, 2004 Federal securities regulators are conducting an inquiry into a Milwaukee mutual fund affiliated with […]
Federated to Take $20M Charge
PITTSBURGH (AP) – Federated Investors Inc. will take a $20 million charge on fourth-quarter earnings to establish a fund for investors and pay for an internal review of mutual fund trading practices,the company announced Tuesday. Federated also said it had […]