Reuters US Money

Activist fund Starboard nominates four directors to Huntsman board

12 Jan 2022

By Svea Herbst-Bayliss (Reuters) – Activist hedge fund Starboard Value LP has nominated four directors, including its own chief executive, to Huntsman Corp’s board, arguing that new members would help maximize the chemical maker’s potential. According to a letter sent by Starboard CEO Jeffrey Smith on Wednesday, the fund, one of Huntsman’s largest investors with …

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Citadel Securities valued at $22 billion after Sequoia, Paradigm take stake

11 Jan 2022

(Reuters) – Citadel Securities said on Tuesday venture capital firm Sequoia Capital and crypto-focused investment company Paradigm had made a $1.15 billion minority investment in it, giving the market maker founded by billionaire Ken Griffin a valuation of nearly $22 billion. The funding round was led by Sequoia. Alfred Lin, a partner at Sequoia, will …

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Fannie Mae uses Blend rent payment data in credit access expansion push

11 Jan 2022

By Hannah Lang (Reuters) – U.S. housing finance giant Fannie Mae has started integrating data from digital banking startup Blend Labs Inc. into its underwriting program to make it easier for lenders to evaluate a borrower’s rental payment history when approving a home loan. Fannie’s effort to include rental payment history in the loan approval …

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Jana Partners’ fund gains 30% as bets such as Vonage, LabCorp pay off

10 Jan 2022

By Svea Herbst-Bayliss BOSTON (Reuters) – Jana Partners LLC, the activist investor that successfully pushed for big changes including sales at portfolio companies, told investors that its JSI Benchmark A portfolio returned 30% after fees last year, two sources said on Monday. The gains were fueled by campaigns at Vonage Holdings Corp, which sold itself, …

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EIG-led investors in Aramco oil pipelines hire banks for dual-tranche bonds

10 Jan 2022

By Yousef Saba DUBAI (Reuters) -A group of institutional investors that last year took a stake in Saudi Aramco’s oil pipelines network has hired Citi and JPMorgan to help refinance a loan that backed the deal, bank documents and an investor presentation showed on Monday. A consortium led by U.S.-based EIG Global Energy Partners in …

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Bitcoin network power slumps as Kazakhstan crackdown hits crypto miners

8 Jan 2022

By Tom Wilson LONDON (Reuters) – The global computing power of the bitcoin network has dropped sharply as the shutdown this week of Kazakhstan’s internet during a deadly uprising hit the country’s fast-growing cryptocurrency mining industry. Kazakhstan became last year the world’s second-largest centre for bitcoin mining after the United States, according to the Cambridge …

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British watchdog charges two brothers over collapsed peer-to-peer lender

7 Jan 2022

LONDON (Reuters) – Britain’s financial watchdog said on Friday it has begun criminal proceedings against two former directors of Collateral UK Ltd, a peer-to-peer lender that has now collapsed. The Financial Conduct Authority said brothers Peter and Andrew Currie each face two fraud charges and one proceeds of crime charges, and are due to appear …

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