Hints and tips:
...Despite a sterling reputation, was it basically just ARKK with a hedge fund comp structure? Lone Pine declined to comment....
...Dealmaking deterrents Japan’s problematic equity “cross-holdings” could hypothetically broker a $20bn takeover “for free”, the FT’s Leo Lewis explains. But the country is only ripe for M&A in theory....
...Five Shearman & Sterling energy and infrastructure partners have joined Ashurst days after their former firm announced a tie-up with Allen & Overy....
...The products will follow the funds one-for-one, or enable users to amplify returns from Wood’s gains or losses, in US dollars, euros or sterling....
...Other US companies to caution about the weak pound include Post Holdings, the New York-listed owner of British cereal brand Weetabix....
...Then, consider the plunge in sterling, the once mighty UK currency which these days is more accurately referred to as the Great British Peso....
...Sterling was marginally stronger against the dollar to $1.3275. The euro strengthened 0.1 per cent to $1.1846. The Japanese yen strengthened 0.1 per cent to ¥112.13....
...The euro reached an eight-year high against sterling and regained the $1.18 level against the dollar after another encouraging round of eurozone survey data....
...All this means dollar and steady so far at about 99, and Treasury yields holding 2.3%. Have a good weekend....
...Extremely strong 'soft' data from the US boosted world stock markets, while investors pared back their sterling holdings ahead of the Article 50 announcement....
...Blue-chip UK fund manager Schroders is SVG’s second-largest shareholder, with an 11.9 per cent holding, followed by Old Mutual, with 8 per cent....
...S&P Global Ratings has said a potential exit from the EU by the UK may have “some impact” on the operational and financial positions of CK Hutchison Holdings, Cheung Kong Infrastructure, Power Asset Holdings...
...Shearman & Sterling has poached Akin Gump Strauss Hauer & Feld M&A partner Li Chen, according to a statement from the law firm....
...Mr Schimel will join after winding down Sterling Ridge Capital Management, the $250m hedge fund he founded in 2013....
...In the meantime, the price of crude is holding near four month highs....
...Following a very choppy session, the S&P 500 was 0.3 per cent lower at 2,074 at the close, after holding within a tight 11-point range....
...Sterling lost ground after UK gross domestic product growth slowed more than expected in the third quarter....
...The investors attempted for several months to negotiate a settlement with the central bank of Portugal, but eventually gave up and instructed their lawyers at Shearman & Sterling to take legal action....
...The risks of holding individual stocks can be mitigated by investing via a US-focused fund....
...She notes that Goldman Sachs analysts reckon that dealer-banks holdings of corporate bonds are down 40 per cent from a 2006 peak of about $38bn....
...The propaganda works; almost all investors avoid holding cash....
...It reminds us of Texas Competitive Electric Holdings Company LLC (TCEH) in 2011....
...Bankruptcy We discussed this at some length on Monday because it reminded us of Texas Competitive Electric Holdings Company LLC (TCEH) in 2011....
...The manager, a joint venture between Marshall Wace and Hong Kong-based GaveKal Holdings, is offering unhedged US dollar, euro and sterling share classes, allowing investors to benefit from any appreciation...
...“Weak sterling is a red herring,” he retorts. “Luxury brands will not allow more than a 10 per cent pricing difference between Paris, Milan and London....
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