Author Archives: the HedgeCo News Team
Nightly Business Report
xfdce NIGHTLY-BUSINESS-REPO-00 Show: NIGHTLY BUSINESS REPORT> Date: October 1, 2003> Time: 18:30:00> Tran: 100100cb.118> Type: SHOW> Head: Nightly Business Report> Sect: Business> Byline: Paul Kangas, Susie Gharib> Guest: Barry Griswell, Kevin McCormally> Spec: Business; Economy> Time: 00:00:00> PAUL KANGAS, NIGHTLY […]
Prudential forces outsix after fund flap; Market-timing also takes toll elsewhere
The branch manager at Prudential Securities’ Boston office and five brokers there were forced out Monday, sources said yesterday, after the office was targeted by state and federal probes intoimproper mutual fund trading. The manager, Robert E. Shannon, was asked […]
Funds ‘safer than shares’
HEDGE fund guru Stanley Fink reckons some of his Man Group funds are safer for punters than shares. Man’s multimillionaire chief executive says: ‘We have certain funds that, mathematically, are safer than equities.’ He admits hedge funds are more complicated […]
Barrack Rodos & Bacine Announces the Filing of a Class Action Suit Against Bank of America/Nations Funds Defendants and Canary Defendants on Behalf of Purchasers of the Securities of the Nations Funds Family of Funds
<body.content> <block> <p>PHILADELPHIA, Oct. 1 /PRNewswire/ — Counsel for Class Plaintiffs, Barrack, Rodos & Bacine, today issued the following:</p> <p>A classaction has been commenced in the United States District Court for the Southern District of New York on behalf of […]
In Brief: Money rolls in for Man
Man Group, the world’s biggest manager of hedge funds, continued its remarkable growth, forecasting a 40% rise in under- lying earnings this year. Stanley Fink, chief executive, estimated Man hadmore than $30bn (pounds 18bn) under management and forecasts it will […]
Interim NYSE Chairman Seeks New Rules First, New Board Later
Sep. 30–New York Stock Exchange’s interim leader John Reed wants to set new rules for its operations before sacking any of the beleaguered board. It’d be “quite foolish to look at the membership of the board and then at governance,” […]
Bloomberg Tradebook Becomes Hong Kong’s First Automated Trading Service First ATS Authorized by Securities and Futures Commission
<body.content> <block> <p>HONG KONG, Sept. 29 /PRNewswire/ — Bloomberg Tradebook Hong Kong Ltd (“Bloomberg Tradebook Hong Kong”) is pleased to announce that it is authorized asHong Kong’s first Automated Trading Services (“ATS”) platform under Part III of the Securities and […]
Buyer of Philadelphia-Area Banks Drives Up Prices of Possible Takeover Targets
Sep. 30–A buyer with deep pockets is paying premium prices for banks in the Philadelphia area — and driving up prices of other potential acquisition targets. The buyer, Citizens Bank, had investors drooling last week over the 35-percent premium it […]
SEC Moves toward Heightened Oversight of Hedge Funds
Sep. 30–Taking a first step toward heightened oversight of the burgeoning hedge fund industry, federal regulators on Monday suggested advisers be required to provide details about their activities. A report from the staff of the Securities and Exchange Commission urged […]
Neovest and Wall Street Source Form Marketing Alliance; 1StopPro to Integrate with Neovest Technology
NEW YORK–(BUSINESS WIRE)–Sept. 30, 2003–Neovest, Inc., a leading provider of technology that improves trading performance, and Wall Street Source (WSS), a leading news and information company,today announced their intent to jointly offer an integrated product. Professional traders, portfolio managers and […]
Canyon Resources Raises $4.15 Million With Stock and Warrant Sale
<body.content> <block> <p>GOLDEN, Colo., Sept. 30 /PRNewswire-FirstCall/ — Canyon Resources Corporation , a Colorado-based mining company, today announced that it has raised$4,153,302 through the sale of 2,307,392 units, at a price of $1.80 per unit, in a Private Placement. Each […]
The Denver Post Business Briefs Column
Sep. 30–APPLIED FILMS SELLS COATED-GLASS BUSINESS: Longmont-based Applied Films Corp. said Monday it has completed the sale of its coated-glass business in Hong Kong to Nippon Sheet Glass for $1.2million plus $130,000 in inventory. NSG is a major Japanese glass […]