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...Apec summit in San Francisco has led to hopes of a thaw in relations between the two superpowers, which have resumed high-level military communications and agreed to establish a counter-narcotics working group...
...Last week, a verdict was passed down in the case of Walkers Snack Foods Ltd v Commissioners for His Majesty’s Revenue and Customs, with first-tier tribunal judges Anne Fairpo and Sonia Gable ruling against...
...Jana Partners, another activist, also took a stake in the group....
...However, FIS struggled to combine the two businesses and last year came under pressure from activist investors such as DE Shaw to review its strategy....
...FIS’s decision to break up comes after activist shareholders DE Shaw and Jana Partners called on the company to review its business strategy, including considering undoing the 2019 deal....
...DE Shaw, for example, last year jacked up the performance fees on its three main funds by 5 percentage points....
...Hedge funds snapped up Berkshire Hathaway stock in the second quarter, with DE Shaw, Renaissance Technologies and Bridgewater Associates buying millions of shares in Warren Buffett’s conglomerate....
...Presumably this is why the activist investors DE Shaw and Jana Partners got involved in FIS. But that implies that the original deal was an epic mistake. Industries change....
...UK telecoms group....
...Epic was valued at almost $30bn in a fundraising earlier this year led by Sony and the family investment group that owns most of Lego....
...For example: if Generic Greek God Capital is buying Widgetmaker Inc, 70 per cent of the equity it ponies up might come from one of its LBO funds....
...Email me your thoughts at sid.v@ft.com. Latest news Amy Kazmin in Rome has a fascinating piece on why Giorgia Meloni is pushing back on Italy’s shift to digital payments....
...Overall, hedge funds gained 0.9 per cent last month, according to data group Hedge Fund Research, although those focused on technology, or trying to balance bets on rising prices against bets on falling...
...don’t already know may be disappointed to learn that The Anschutz Corporation (which owns AEG, which also runs Coachella) gave $75,000 to the Republican Attorneys General Association five days after Roe v....
...During the quarter, however, those businesses — including the brick maker Acme and flooring group Shaw — were able to raise prices and registered strong demand....
...His grandfather, Sir Robert Ho Tung — famed as the richest man in Hong Kong — is represented in photographs with George Bernard Shaw, both in Chinese dress....
...Perhaps “something akin to grade inflation” could be afoot, DE Shaw said. Companies are getting smarter about their ESG disclosures, and their scores are improving, DE Shaw added....
...The Korean Wave opens September 24, V&A ‘Make, Break, Remix: The Rise of K-Style’ by Fiona Bae, (Thames & Hudson), will be published in the UK & Ireland on 22 September 2022...
...Here is the company statement that went out on Friday: NEW YORK, November 18, 2022 — Sculptor Capital Management, Inc....
...Reach out to me (imani.moise@ft.com) or Sid (sid.v@ft.com) to let us know. Happy reading!...
...A version of this article was first published by Nikkei Asia on July 19. ©2022 Nikkei Inc. All rights reserved....
...What’s missing is an integrated smartphone mount to aid with viewing the app, but you could add one yourself or wait for the V, which will include one....
...Be sure to check out the full line up of events, and don’t miss Sid’s interview with David Mercer, chief executive officer of the LMAX Group....
...Write to the FintechFT team at imani.moise@ft.com and sid.v@ft.com. You can build it, but will they come?...
...In 1988 he bankrolled a precocious computer scientist called David Shaw, whose eponymous hedge fund DE Shaw today manages more than $60bn and helped usher in the quant revolution that has rewired the investment...
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