By Svea Herbst-Bayliss BOSTON (Reuters) – The activist investor that pushed to oust Peloton Interactive Inc’s co-founder and leader in January is now criticizing its new chief executive officer, arguing he has not made enough changes and that the company should be sold now. Blackwells Capital, which owns nearly 5% of the company, said Peloton …
Activist investor Blackwells criticizes new Peloton CEO, urges sale Read More »
By Ross Kerber (Reuters) – Top proxy adviser Institutional Shareholder Services on Tuesday recommended investors cast proxy votes against the pay of Wells Fargo & Co Chief Executive Charles Scharf and other leaders, citing concerns about the discretion used to award the pay and lack of disclosures. In a report provided by a representative, ISS …
ISS says Wells Fargo pay reforms insufficient to justify support Read More »
HONG KONG (Reuters) – Citigroup Inc said on Tuesday it appointed Angel Ng to lead its Asia Pacific global wealth management business. Ng, currently Citigroup’s Hong Kong chief executive, will oversee Citi’s wealth management business — centred around hubs in Singapore and Hong Kong — and lead the personal banking units in both cities. She …
(Reuters) -Pendal Group Ltd said on Tuesday the A$2.40 billion ($1.78 billion) non-binding takeover offer from asset manager Perpetual Ltd “significantly undervalued” the Australian investment manager. The A$6.23 per share offer for Pendal, a former unit of Westpac Banking Corp, was first disclosed on April 4 and was at a 39.2% premium to the stock’s …
Pendal says Perpetual’s offer significantly undervalues investment manager Read More »
By Jonathan Stempel NEW YORK (Reuters) – Warren Buffett needed just two weeks to put together Berkshire Hathaway Inc’s $11.6 billion takeover of Alleghany Corp, its largest acquisition in six years, even as he balked at paying the insurer’s banking fee, a regulatory filing on Monday shows. Alleghany said its Chief Executive Officer Joseph Brandon …
Buffett needed two weeks for $11.6 billion Alleghany purchase, balked at Goldman fee Read More »
By Svea Herbst-Bayliss BOSTON (Reuters) -Activist investment firm Sachem Head on Monday cut its slate of director nominees at US Foods Holding Co to five from seven, backing away from plans to try and take control of the food distributor’s board. The hedge fund, US Foods’ biggest shareholder with an 8.7% stake, announced the move …
Sachem Head cuts director slate to 5 in US Foods board battle Read More »
(Reuters) -Macro funds this year posted their highest first-quarter performance since 1993, as fund managers navigated well amid high volatile markets, a report by hedge fund data provider HFR showed on Thursday. Macro hedge funds, which bet on macroeconomics trends, rose 7.7% in the quarter, according to a macro fund index, helped by skyrocketing commodities …
Macro hedge funds post gains amid high volatility in Q1 Read More »
By Chris Taylor NEW YORK (Reuters) -When Nicole Flecchia contracted COVID-19 in January of 2021, the University of Rhode Island grad student figured she might be looking at a few days or weeks of symptoms. It is now April of 2022, and the symptoms have never really gone away. The 26-year-old is among the millions …
How to prepare for the financial hit of long COVID Read More »
By Svea Herbst-Bayliss BOSTON (Reuters) – Hedge fund Cinctive Capital Management is expanding beyond its bread-and-butter stock trading and has hired former Brevan Howard trader Giles Coppel to lead a team that will bet on interest rates and currencies as global macro investments find new favor. “We are moving to a different paradigm and this …
Hedge fund Cinctive adds macro strategy, hires industry veteran Coppel Read More »
NEW YORK (Reuters) -New York Attorney General Letitia James on Wednesday asked JPMorgan Chase & Co, Bank of America, US Bancorp and Wells Fargo & Co to end all consumer overdraft fees by the summer. In letters sent to the chief executives of four of the biggest U.S. consumer banks, James said the majority of …
NY Attorney General asks banks to end overdraft fees Read More »
