New York Times:
Top parliamentarian Jean-Paul Gauzes has written to members of an influential European Union committee recommending strict rules for hedge funds that clamp down on pay and borrowing, according to Reuters. (Read More)
New York Times:
The administrator for Lehman Brothers said Monday that it planned to seek support to remove claims against the bank from British courts and distribute assets directly to creditors by the first quarter of next year, provided enough of Lehman's hedge fund creditors go along with the plan. (Read More)
Reuters:
NEW YORK (Reuters) - Lehman Brothers International (Europe), where more than $35 billion of hedge fund assets have been frozen since the bank's collapse last September, could return about $11 billion to fund managers by March if enough firms approve a new plan.
. (Read More)
The Guardian:
Shares in Cadbury have bubbled up to a record high on the prospect of an auction for the business, which has investors licking their lips but brings yet more uncertainty for the company and its workers.With Kraft having declared its hand with what is widely seen as a low-ball £9.8bn offer - one summarily rejected by Cadbury (Read More)
guardian.co.uk Politics:
If the Tory leader wins the next election, he faces a media battle between News Corp and Google which could split his inner circleIt's the war for Cameron's ear. Greeting David Cameron, should he win the keys to 10 Downing Street next year, could be the mother of dust-ups between Google and News Corporation, two of the wor (Read More)
observer.guardian.co.uk:
The US chocolate company Hershey is considering an audacious go-it-alone attempt to buy the besieged Cadbury confectionery empire through a takeover offer of at least $17bn (£10.2bn) to edge out Kraft's £9.8bn hostile bid.Sources close to the situation last night said that Hershey has lined up deal financing from Bank of Am (Read More)
The Guardian:
Investment bank under fire again as investors protest at record bonuses of $717,000 eachGoldman Sachs has had to defend itself from angry taxpayers, regulators, the government – and now its own shareholders.Some of the US investment bank's largest investors are furious about the New York-based firm paying record bonuses to (Read More)
Reuters:
MUMBAI (Reuters) - Hedge fund Galleon, which is winding down its funds after its founder was accused of heading an insider trading ring, has sold its holding in Edelweiss Capital, stock exchange data showed.
. (Read More)
New York Times:
Gartmore Group, the manager of about $36 billion in hedge and mutual funds, is preparing an initial public offering of at least 250 million pounds next month to reduce debt. (Read More)
New York Times:
Sears Holdings, led by the hedge fund financier Edward S. Lampert, posted a smaller third-quarter loss on Thursday than a year ago, helped by cost cuts and inventory controls. (Read More)
New York Times:
The Nexar Capital Group, a fund of hedge funds firm formed in September, told clients that new transparency initiatives, lower fees and other investor-friendly trends will combine to deliver superior risk-adjusted returns for investors in the asset class. (Read More)
New York Times:
John Paulson is the latest hedge fund manager to try to capitalize on the gold rush, with a new gold fund, which will include $250 million of his own personal investment, The Wall Street Journal reported. (Read More)
New York Times:
Hedge fund manager Kenneth C. Griffin's Citadel Investment Group lost $8 billion last year, but it is turning things around as markets recover launching four new funds, The Wall Street Journal reported. (Read More)
New York Times:
John Paulson, the hedge fund manager who gained fame betting on the mortgage crisis, sees big opportunities to wager on price discrepancies in banking stocks, according to his most recent letter to investors. (Read More)
The Guardian:
Colleagues say Sergey Magnitsky, a key witness in the Hermitage case, was refused medical treatmentFriends and colleagues of a Russian lawyer who died in custody in Moscow after his pleas for medical treatment were refused have called for criminal charges to be brought against the prison authorities.Sergey Magnitsky died on (Read More)