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....The dividend was suspended in 2013 as the group struggled for survival after a crisis at its bank. The bank was eventually rescued by hedge funds and the Co-op eventually forced to cut its stake to 20% until June this year when it was cut again to 1% under a new rescue deal. ... [Read full article on Guardian ]
Thursday 21st of September 2017 11:09:46 AM
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Latest Finance News related to Hedge Fund

Co-op profits fall as it offloads final stake in bank image
Source : Guardian [Read Article] Thursday 21st of September 2017 11:09:46 AM
....The dividend was suspended in 2013 as the group struggled for survival after a crisis at its bank. The bank was eventually rescued by hedge funds and the Co-op eventually forced to cut its stake to 20% until June this year when it was cut again to 1% under a new rescue deal. ...
Former BHS owner could face fine if the charges stick image
Source : Guardian [Read Article] Sunday 17th of September 2017 09:31:18 AM
.... Last March, the company reported its fifth consecutive year of losses amid weak demand for its clothes, store closures and competition in the sector. Sports Direct bought out activist investors, including Gatemore Capital Management – a London-based hedge fund that had an 8% stake – and OTK, an investment firm that owned about 7%, to add to its existing 11% stake. ...
The financial system is still blinking red. We need reform more than ever | Rana Foroohar image
.... While the Dodd-Frank financial reform requirements mean that the largest banks can correctly claim that they have offloaded risky assets and bolstered the amount of cash on their balance sheets, lending to real businesses is still a small fraction of what they do. Meanwhile, the shadow banking sector (which is not subject to similar regulation) has grown dramatically, with private equity and hedge funds snapping up assets on the cheap in the wake of the financial crisis, when few others had the cash on hand to buy (Blackstone, whose CEO Steve Schwarzman is close to the president, has become the largest owner of single family homes in America). ...
Bitcoin investors could lose all their money, FCA warns image
Source : Guardian [Read Article] Tuesday 12th of September 2017 01:48:03 PM
....3m raised). The most notorious failure to date has been a startup called the Decentralised Autonomous Organisation – DAO – which sold itself as a crowdsourced hedge fund. ...
Silicon Valley has been humbled. But its schemes are as dangerous as ever | Evgeny Morozov image
....The culture power of Silicon Valley can be gleaned from the simple fact that no sensible politician dares to go to Wall Street for photo ops; everyone goes to Palo Alto to unveil their latest pro-innovation policy. Emmanuel Macron wants to turn France into a startup, not a hedge fund. ...
BHP’s shale sale could happen: this is not a drill image
Source : Guardian [Read Article] Sunday 20th of August 2017 06:00:35 AM
.... The company is still facing the prospect of criminal charges and a potential $47bn settlement over the worst environmental disaster in Brazilian history. More recently, BHP came under attack from activist hedge fund Elliott Advisors, which has built up a 5% stake as it bids to force executives to rethink the firm’s strategy. ...
How the crash discredited the Anglo-US democratic model | Will Hutton image
Source : Guardian [Read Article] Saturday 12th of August 2017 11:05:01 PM
....Ten years ago this week, it became clear that the dread event – a run on one bank that will create a malevolent impact on others – was under way. A US investment bank had a few weeks earlier summarily closed some of its property-based hedge funds to stop a cascade of sellers; now a French bank was doing the same, as a panic about overblown property values infected confidence. ...
For the first time ever I am defending banks. Here’s why | John Harris image
....4 million British people trooped to the polling stations last summer and put their crosses in the leave box have been endlessly analysed, and often crudely carved in half – as if some Brexit supporters were angry about immigration and others fixated on questions of sovereignty, and that was pretty much that. But 10 years after the French bank BNP Paribas heralded the coming financial crisis by suspending two hedge funds that had effectively proved worthless, it’s worth reprising a pretty basic point: among the furies that exploded on 23 June last year were lingering grievances about the financial crash of 2007-8. ...
Bank of England takes note on banknotes (but that's all) | Nils Pratley image
Source : Guardian [Read Article] Thursday 10th of August 2017 06:27:09 PM
.... About 25,000 customers, or 2% of the total, closed their current accounts in the first half of this year. It’s hard to know if that was caused by long-term weariness, suspicion about the hedge fund ownership, or just competitive action. ...
Co-operative Bank sheds 25,000 current account customers but losses shrink image
Source : Guardian [Read Article] Thursday 10th of August 2017 08:25:02 AM
....6bn of losses since its problems were uncovered and will only say it hopes to achieve profitability in the medium term. After a series of rescue funds injected by hedge funds, the bank’s former owner, the Co-operative Group of grocers and funeral homes, is on course for its stake to drop to 1%. ...
Stock market crash: how Slater and Gordon became a casualty of the neoliberal dream | Richard Ackland image
....Now, so much of the neoliberal dream is more readily recognised as a hucksters’ mess of pottage and one of its casualties is the once great law shop Slater and Gordon. After bestriding the consumer end of the common law world like an ink-squirting giant squid it is now in the hands of hedge funds, led by Anchorage Capital, whose business model is to make money from distressed, debt-laden, enterprises. ...
A decade after the financial meltdown, its underlying problems haven’t been fixed image
....Ten years ago this week, the global financial crisis started with a small rumble in France. Local bank BNP Paribas announced it was freezing the assets of three hedge funds with heavy exposures to the US sub-prime mortgage market. ...
Martin Shkreli found guilty of fraud by jury in New York image
Source : Guardian [Read Article] Friday 4th of August 2017 06:56:43 PM
. Martin Shkreli, the hedge fund manager turned pharmaceutical entrepreneur once dubbed “the most hated man in America”, has been found guilty on three of eight federal charges that he deceived investors in a pair of failed hedge funds. ...
How Britain fell out of love with the free market image
Source : Guardian [Read Article] Friday 4th of August 2017 05:00:34 AM
.... “Cameron turned out to be just a standard Thatcherite,” Blond now says. As Cameron, the son of a wealthy stockbroker, knew well, Britain is still home to plenty of neoliberalism’s beneficiaries: hedge funders, homeowners with the right kind of property, disproportionately rewarded “top talent” from footballers to management consultants, and companies built on cheap labour and loose regulation. ...
'It's hard to remember how fraught it was': Mark Carney on the credit crunch image
.... Carney, who was made the FSB chair, predictably enough thinks that the risks of a repeat are now diminished – but not entirely eradicated. Asked whether he was concerned about the growth of shadow banking, where activity takes place between hedge funds and other non-deposit taking institutions, Carney said there had been action to make the system less risky. ...
The day the credit crunch began, 10 years on: 'the world changed' image
Source : Guardian [Read Article] Wednesday 2nd of August 2017 04:15:56 PM
.... The governor of the Bank of England spent it at Lord’s cricket ground where he was interviewed by the former England cricket captain Michael Atherton. While Lord King was watching the cricket, the French bank BNP Paribas announced it was freezing the assets of hedge funds that were heavily exposed to the US sub-prime mortgage market. ...
Sports Direct increases French Connection stake to 27% image
Source : Guardian [Read Article] Thursday 27th of July 2017 05:16:36 PM
....Mike Ashley’s Sports Direct has increased its stake in French Connection to 27%, taking it close to a level at which it must launch a takeover bid. Sports Direct has bought out activist investors, including Gatemore Capital Management – a London-based hedge fund that had an 8% stake – and OTK, an investment firm that owned about 7%, to add to an existing 11% stake. ...
Greed is no longer good – bond boom comes to an end image
Source : Guardian [Read Article] Saturday 22nd of July 2017 07:00:32 AM
....All the other big names in the US investment banking world saw bond trading profits dive in the three months to the end of June, save for age-old Goldman rival Morgan Stanley, which restricted the loss to 4%. Lloyd Blankfein, the Goldman boss who rose through the ranks of bond traders to the top job, was unlikely to be sanguine about the turn of events amid concerns that his bank suffered more than most for relying on out-of-favour hedge funds as clients. ...
Sports Direct buys 26% stake in Game Digital image
Source : Guardian [Read Article] Thursday 13th of July 2017 06:59:54 AM
....3%), giving it a market value of £47m. Three years ago, the retailer was floated at 200p a share by its owner, the US hedge fund Elliott Advisors, with a market value of £340m, after being rescued from bankruptcy two years earlier. ...
Carillion has paid a heavy price for too many risky contracts | Nils Pratley image
.... Carillion’s share price in those days was 340p. Now it is 117p, down 39% on the day, as the firm was obliged to confess that all those hedge funds who have been shorting the shares had correctly identified the whiff of something rotten. ...
Con man or brilliant? Clashing portraits of Martin Shkreli offered as trial begins image
. Martin Shkreli is either a con man who scammed hedge fund investors of millions or a nerdy genius who made them even richer. ...
FCA knows its scrutiny of the investment sector has only just started | Nils Pratley image
....Yet one gets a strong sense that the FCA, having lifted the lid on an industry that has escaped scrutiny for too long, knows its work has only just started. The list of other financial players scheduled for investigation is also long: investment consultants, fund platforms such as Hargreaves Lansdown (whose profit margins can be as high as 70%), hedge funds and the private equity brigade. ...
Pound leaps as Carney says growth will be factor in interest rate debate image
Source : Guardian [Read Article] Wednesday 28th of June 2017 03:15:46 PM
.... One of the three – Kristin Forbes – is no longer an MPC member and has been replaced by Silvana Tenreyro, whose views on the necessity of a rate rise are unknown. With Haldane indicating that he might join Ian McCafferty and Michael Saunders in voting for higher borrowing costs, and Cunliffe siding with Carney, the result will be decided by deputy governor, Ben Broadbent, Jan Vlieghe, the former hedge fund economist, and Tenreyo. ...
Co-op Bank secures £700m rescue deal from hedge funds image
Source : Guardian [Read Article] Wednesday 28th of June 2017 11:18:25 AM
. The Co-operative Group will be left with only a 1% stake in the Co-op Bank after a complex deal reached with hedge funds and other investors to pump £700m into the lossmaking lender. ...
FCA says UK's £7tn asset management industry needs radical reform image
Source : Guardian [Read Article] Wednesday 28th of June 2017 07:28:17 AM
.... But it is recommending that the Treasury gives it powers to regulate the sector. It also appeared to prepare the ground to look at private equity and hedge funds. ...
Google fine: EU is not waging underhand trade war against ​​US tech firms | Nils Pratley image
.... Since that danger has now passed (for the time being, at least), restoring levels to a “standard” setting is sensible. What a coincidence: activist investor Dan Loeb’s Third Point hedge fund is hounding Nestlé to improve its performance, and the consumer goods multinational has decided this is exactly the right moment to launch a SFr20bn (£16bn) buy-back. ...
Potential Martin Shkreli jurors: we can't be impartial over 'most hated man' in US image
....Though Shkreli’s notoriety came from Daraprim, the federal securities fraud case is unrelated. Prosecutors say that after Shkreli lost millions of dollars through bad trades through his side business hedge fund, he looted a second pharmaceutical company for $11m to pay them back. ...
Co-op Bank abandons sale talks as it edges towards rescue deal image
Source : Guardian [Read Article] Monday 26th of June 2017 05:25:23 PM
. The Co-operative Bank has abandoned talks over a sale after edging closer to clinching a deal with hedge funds to stump up millions of pounds to bolster its financial position. ...
Co-op Bank has lost £2.6bn since the crisis – but can still bounce back | Nils Pratley image
. Here come those dastardly hedge funds, up to their usual tricks: they’re rescuing the Co-operative Bank for a second time. ...
Co-op Bank in advanced talks to secure hundreds of millions for rescue image
. The Co-operative Group’s stake in the Co-op Bank could fall dramatically under a rescue plan being drawn up by hedge funds. ...
Amazon to buy Whole Foods Market in $13.7bn deal image
Source : Guardian [Read Article] Friday 16th of June 2017 01:26:19 PM
....In February, it announced it would close nine stores in the US after six quarters of decling sales in a row. The deal with Amazon comes days after Mackey attacked the hedge fund Jana Partners, which had acquired a 9% stake in the retailer. ...
Our leaders have lost touch with reality – just like the banks did | Aditya Chakrabortty image
....Even as their world came apart, the bankers clung to denial. By August 2007, the flagship hedge fund of Wall Street’s most prestigious firm was tanking fast – and what explanation came from the man at Goldman Sachs? “We were seeing things that were 25-standard deviation moves, several days in a row. ...
Co-op Bank draws interest from Qatar conglomerate image
Source : Guardian [Read Article] Thursday 8th of June 2017 03:30:28 PM
....A Qatar-based company has been identified as part of a consortium interested in making a bid for the troubled Co-operative Bank. Al Faisal Holding, a Qatari conglomerate with interests ranging from hotels to transport, was cited as a bidder for the hedge fund-owned bank in a deal being co-ordinated by Interritus. ...
Jeff Bezos: the 'obsessive' Amazon founder and world's next richest man image
.... He pledges to focus on the long term and being the market leader, “rather than short-term profitability considerations or short-term Wall Street reactions”. He knows those reactions well, having worked on Wall Street for a hedge fund before founding Amazon. ...
G4S rejoins FTSE 100 as Debenhams drops out of FTSE 250 image
Source : BBC [Read Article] Wednesday 31st of May 2017 05:56:36 PM
....On Wednesday Melrose announced a £144m bonus package to be shared between four of its top executives and further bonuses for a wider group of senior managers. Also moving into the FTSE 250 are: IT services company FDM Group; hedge fund Pershing Square Holdings; fertiliser company Sirius Minerals; and the Georgian TBC Bank Group. ...
Whole Foods represents the failures of 'conscious capitalism' | Nicole Aschoff image
....Same-store sales have declined for six straight quarters, and Barclay analyst Karen Short estimates that 14 million Whole Foods customers walked away during the same period. Last month activist hedge fund Jana Partners swooped in, buying up 8. ...
Not just Bitcoin... image
Source : BBC [Read Article] Wednesday 24th of May 2017 09:07:22 AM
....Grayscale launched its first digital currency investment trust in 2013. The New York firm now manages about $400m of investments in digital currencies, up from $60m at the end of 2015, as its client base of wealthy investors, hedge funds and other small firms has grown, and prices for Ethereum and Bitcoin have climbed. ...
Church of England made stunning 17% return on investments in 2016 image
Source : Guardian [Read Article] Sunday 21st of May 2017 01:08:44 PM
....In 2012, it sold its shares in Rupert Murdoch’s media group after the phone-hacking scandal. However, the following year the church’s pension fund was found to have taken an indirect stake in controversial payday lender Wonga, while it has also invested in areas of finance that many view as contentious such as hedge funds. ...
Mine craft: why BHP's strategic overhaul could help repel a hedge fund predator image
....The move appeared to bookend a happy period when the Anglo-Australian mining colossus had rediscovered its direction after 19 people were killed in a disastrous dam burst at an iron ore joint venture in Brazil in 2015 and the share price sank to a 10-year low. But no sooner had BHP put the finishing touches to its fresh look on Monday than it found itself, for the second time in a month, the subject of an unflattering critique by a predatory US hedge fund. ...
What $110m for a Basquiat painting tells us about the art market image
Source : Guardian [Read Article] Friday 19th of May 2017 11:24:38 AM
....The two most expensive paintings in history, sold privately in 2015, are Interchange by Dutch abstract expressionist Willem de Kooning and When Will You Marry?, one of the many Tahiti-inspired works by French artist Gauguin. De Kooning’s work was bought by American hedge fund billionaire Kenneth C Griffin from the David Geffen Foundation, which previously sold him Jackson Pollock’s Number17A for $200m. ...
Tories receive £50,000 from man questioned by Serious Fraud Office image
Source : Guardian [Read Article] Thursday 18th of May 2017 02:12:09 PM
....Hedge fund executives who supported the remain campaign are also giving money to the party again. They include John Armitage, the founder of the hedge fund Egerton Capital, who has given £400,000 and Andrew Law, chairman and chief executive of the $8bn Caxton Associates, who has given £250,000. ...
JP Morgan appears to make good on Brexit threat with new Dublin office image
....”. The announcement coincided with a report in the Financial Times revealing that JP Morgan intends to hire more staff in Dublin for its custody operations, which look after the investments of major investors, hedge funds and big companies. ...
Mining company BHP drops Billiton from name in $10m ad campaign image
Source : Guardian [Read Article] Monday 15th of May 2017 12:52:45 AM
....The rebranding comes at an eventful time for the resources giant. Activist hedge fund Elliott Advisors has launched a public campaign over the last month, calling for a significant restructure of BHP Billiton’s operations, by merging the UK and Australian entities into a single London-listed company and spinning off its US petroleum business for a New York listing. ...
General election 2017: 'Robin Hood tax' on City pledged by Labour image
....5% stamp duty paid on shares to other financial assets, including investments known as derivatives. It would also end an exemption, known as intermediaries relief, that applies to some banks and hedge funds, saying that together the measures would bring in between £4. ...
Co-op Bank investors braced for losses as it tries to raise £750m image
Source : Guardian [Read Article] Tuesday 9th of May 2017 06:31:56 PM
....Co-op Bank, which refused to comment on Tuesday, insisted last month that it had “received a number of non-binding proposals from strategic and financial parties” and “selected several parties to enter a further phase” of talks. The bank put itself up for sale in February, four years after its near-collapse which sparked its rescue by hedge funds. ...
Akzo Nobel faces Elliott legal bid to oust chairman image
Source : BBC [Read Article] Tuesday 9th of May 2017 07:36:22 AM
.... The firm is most famous for its long legal battle over Argentine debt, which climaxed when the firm seized an Argentine naval ship docked in Ghana. The hedge fund is also pushing mining giant BHP Billiton to reorganise and spin off its US oil unit. ...
Dulux owner Akzo Nobel has shown its colours by rebuffing takeover bids | Nils Pratley image
.... They will follow PPG’s line that Akzo’s refusal to negotiate flows from a “lack of proper governance” in the Dutch boardroom. The rebellious bunch, led by hedge fund Elliott, should calm down. ...
Making money image
Source : BBC [Read Article] Sunday 7th of May 2017 01:09:00 PM
.... . Unsurprisingly this year's ranking of the UK's richest 1,000 people by the Sunday Times continues to be dominated by financiers, hedge funders and property tycoons. ...
Rich List 2017: UK's super-rich carry on making billions image
Source : BBC [Read Article] Sunday 7th of May 2017 12:04:04 AM
.... . "More women, more people from ethnic backgrounds, and more from surprising walks of life, with egg farmers and pet food makers lining up with hedge fund managers and private equity barons. ...
Pearson: two-thirds of shareholders reject pay package image
Source : BBC [Read Article] Friday 5th of May 2017 04:38:28 PM
.... . Meanwhile, 27% of investors in Man Group, the world's biggest listed hedge fund, rejected its 2016 remuneration report. ...
BHP Billiton executives warned they could face charges if they shift company out of Australia image
....BHP Billiton executives have been warned they could face criminal charges if they shift the company out of Australia. The US hedge funds Elliott Associates and Elliott International have been trying to convince BHP Billiton’s shareholders in Australia to dissolve the company’s dual-listed structure and move the company to London. ...
Voices of the 1%: how do Britain's highest earners feel about their income? image
.... “But I feel very poor in the context of the classmates [of my children] . Their parents can spend a lot more time with them, because none of them really work, or some of them work but it’s working on their own terms: they might run a hedge fund but they can take the kids to school. ...
Is Triodos the ethical bank that could replace the Co-op? image
Source : Guardian [Read Article] Saturday 29th of April 2017 06:00:22 AM
.... The Co-operative Bank might have something to say about that – it is the only high street bank with a customer-led ethical policy covering a range of issues from the environment to animal welfare. However, Co-op Bank put itself up for sale in February, four years after it nearly collapsed and had to be bailed out by hedge funds, and there has been speculation that it may have to be broken up. ...
​Trump tax plan could save him millions under guise of helping small businesses image
.... The Trump Organization last year comprised approximately 500 separate pass-through entities, in each case with Trump as the sole or principal owner, according to a statement released by his lawyers during the presidential campaign. Businesses typically run as pass-throughs include hedge funds and other investment firms, medical and legal practices, lobbying firms and real estate enterprises. ...
CBI warns against Brexit divorce bill row putting EU-UK trade ties at risk image
Source : Guardian [Read Article] Wednesday 26th of April 2017 11:14:03 PM
....”. The conference, organised by prominent leave campaigner and hedge fund manager Paul Marshall, struck a relatively upbeat tone about the impact of Brexit on the economy. ...
Will London survive as a financial centre after Brexit? image
Source : Guardian [Read Article] Wednesday 26th of April 2017 07:08:45 AM
.... The French president, François Hollande, was elected on a claim that the world of high finance was his enemy. Yet the Socialist mayor of Paris recently promised a “red, white, and blue carpet” for any hedge fund manager who buys a one-way Eurostar ticket to the Gare du Nord – a barbed reference to David Cameron’s promise of a red carpet for French bankers fleeing prohibitive tax rates, strikes and restrictive labour laws. ...
UK wine industry to plant 1m vines as sector bubbles with confidence image
Source : Guardian [Read Article] Tuesday 18th of April 2017 06:30:21 AM
....Rathfinny wine estate near Alfriston in East Sussex is one of the largest new vineyards, with up to 400 acres being cultivated. Its owner, the former London hedge fund manager Mark Driver, plans to release its first sparkling wine in 2018. ...
Higher interest rates. Great idea. Here’s why it won’t happen image
Source : Guardian [Read Article] Saturday 15th of April 2017 04:00:06 PM
....And why wouldn’t they? Plenty of mainstream economists express the same concerns, including policymakers at the Bank of England, the International Monetary Fund, the OECD and the World Bank. After several years of year-on-year growth, runs the argument, higher interest rates will deter banks, insurers and even hedge funds and private equity funds from taking excessive risks to improve their profits. ...
Akzo Nobel faces call to axe chairman amid takeover battle image
Source : BBC [Read Article] Wednesday 12th of April 2017 10:42:40 AM
.... The firm is most famous for its long legal battle over Argentine debt, which climaxed when the firm seized an Argentine naval ship docked in Ghana. The hedge fund is also pushing mining giant BHP Billiton to reorganise and spin off its US oil unit. ...
Judges reject US banker's claim to be a genius in divorce case image
Source : Guardian [Read Article] Tuesday 11th of April 2017 01:07:22 PM
....Sir Martin Sorrell, founder of advertising firm WPP, was awarded 60% of joint assets in his 2005 divorce from Sandra, his wife of 33 years. In 2014, a judge granted the ex-wife of Chris Hohn, the billionaire founder of hedge fund The Children’s Investment Fund, 36% of their $1. ...
FTSE 250 sets record closing high image
Source : BBC [Read Article] Monday 10th of April 2017 07:46:23 AM
....The mining giant's shares rose by more than 5% before closing up 2. 3% after hedge fund Elliott Advisors said it had sent the plan to the firm's directors. ...
Travelodge makes more out of business than leisure visitors image
Source : BBC [Read Article] Monday 10th of April 2017 07:11:56 AM
....The firm says it will open 60 hotels over the next three years, including one in central London. In 2012, the chain was bought by two US hedge funds after its debts nearly dragged the company under. ...
Co-op Bank receives takeover 'proposals' image
Source : BBC [Read Article] Friday 7th of April 2017 08:03:17 AM
....The lender said it had received "a number of non-binding proposals", and it had selected "several parties" with which to continue talks. The bank, in which the Co-operative Group still has a small stake, was rescued from the brink of collapse by a group of hedge funds in 2013. ...
Co-op boss shrugs off £130m loss to focus on group's 'stellar progress' image
....The mutual revealed its first losses since its tumultuous year in 2013 – when problems at the Co-operative Bank nearly sank the whole business – as it wrote down the value of its remaining 20% stake in the bank to nil. Leighton said the £140m additional writedown of the bank, which had already been written down twice in the past year, was “a piece of prudent accounting” while the bank was being sold by its hedge fund owners. ...
Co-operative Group to write off the value of its stake in Co-op bank image
Source : Guardian [Read Article] Monday 3rd of April 2017 06:30:15 AM
....The mutual is set to take a £140m hit as it slashes the value of its 20% stake in the bank to zero, amid ongoing uncertainty about its former financial arm’s future. The Co-op Bank, which is now controlled by US hedge funds after a 2013 rescue deal, put itself up for sale in February in a bid to raise more capital and give greater stability to its 4 million customers. ...
Protesters target Connecticut's uber wealthy with 'tax bills' in bid to end loophole image
....On Saturday morning, a coachload of local workers, bullhorns in hand, took to Greenwich’s windy lanes for a protest organized by union-backed local community groups and billed as the “Lifestyles of the Rich & Shameless” bus tour. Chanting “El pueblo unido / Jamás será vencido” (“The people united / Will never be defeated”) and “Hey hey, ho ho, tax loopholes have got to to”, a couple of dozen protesters, gently shepherded by local police, left giant “tax bills” totaling close to $3bn for some of the world’s richest hedge fund managers. ...
Co-operative Bank says it has interest of several credible buyers image
Source : Guardian [Read Article] Friday 24th of March 2017 10:12:57 AM
....The Co-operative Bank has confirmed that a number of “credible” potential buyers have expressed an interest in the troubled bank, as fears grow that it will be broken up rather than sold as an ongoing entity. Co-op Bank, which is controlled by US hedge funds, put itself up for sale in February in a bid to raise more capital and give greater stability to its 4 million customers. ...
Co-op Bank sale plan attracts suitors image
Source : BBC [Read Article] Friday 24th of March 2017 09:52:14 AM
....It added, however, that there could be "no certainty that an offer for the bank will be made". The bank, in which the Co-operative Group still has a small stake, was rescued from the brink of collapse by a group of hedge funds in 2013. ...
Goldman Sachs to expand EU presence ahead of Brexit image
Source : BBC [Read Article] Tuesday 21st of March 2017 03:00:44 PM
....The company, which is in the process of building a new office in London, would not comment on whether that would result in a net reduction of workers in the UK. In February, Goldman confirmed it was closing a London hedge fund office and moving staff to the US, but denied it had anything to do with Brexit. ...
Netflix and Tesla overrated? Yes, in this mad, mad world image
Source : Guardian [Read Article] Saturday 18th of March 2017 07:01:32 AM
....In a highly unusual move, investment group Jupiter this week revealed the stocks that it is “shorting”, which means placing a bet that a company’s share price will fall. Normally, shorting is the preserve of secretive hedge funds, or the “absolute return” funds currently popular among small investors – and rarely are we told which stocks they are betting are about to tank. ...
Has the tech bubble peaked? Signs that the startup boom may be fizzling image
....These startups are running out of money because VCs are being more discerning about where they place their money, making fewer, bigger bets. “The number of investments [in the private market] has fallen by about a third, but the amount of capital is around the same,” said Tomasz Tunguz, a venture capitalist at Redpoint, adding that some of the “fast money” from hedge funds and mutual funds had shifted away from the sector. ...
Striver? Tory architect of austerity George Osborne banks £1m fortune image
....On the international speech-making circuit Osborne can command more than £50,000-an-hour for some events, as well as free first-class or private jet travel and luxury accommodation. In just one week in November he earned £187,474 giving speeches to banks and hedge funds in London and New York, including £34,109 for a speech at BlackRock’s HQ in Midtown Manhattan. ...
Co-op Bank warns of more branch closures as it reports £477m loss image
Source : Guardian [Read Article] Thursday 9th of March 2017 11:25:19 AM
....He said the bank had only been able to put itself up for sale because the “bank is stronger in many areas than in 2013 and these options would simply not have been feasible before”. The Co-operative Group of supermarkets and funeral homes now owns just 20% of the bank after ceding control to hedge funds during the 2013 rescue, which Holt reiterated had taken place without recourse to the taxpayer. ...

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