Hedge fund Melvin Capital had suffered massive losses on its shorts and margin calls. Melvin Capital is set to receive a US$ 2.75 billion capital injection from hedge fund giants Citadel and Point72 Asset Management and other investors. Melvin Capital founder Gabriel (Gabe) Plotkin is a former portfolio manager who worked for Steven Cohen (then [...]
Asian equities were largely higher with Hong Kong growth stocks on high volumes twice the 1-year average and Korea outperforming to the upside. Tencent gained +10.93% as investors realized that ByteDance's rival Kuaishou's upcoming IPO on Monday, February 5th, will benefit Tencent...
Last week's rout in bitcoin market looks like "weak hands" selling out because bidders appeared to materialize whenever prices fell to $30K.
Late last year, the Pfizer and Moderna COVID vaccines jabs were both licensed for emergency use only by the U.S. Food and Drug Administration (FDA). As the vaccinations begin to spread among the world population, the growth of other gene therapies as a type of vaccination could increase. Institutional investors like sovereign funds and biotech [...]
HONG KONG -- Major U.S. fund managers including BlackRock and Fidelity are among 10 cornerstone investors in Chinese short-video platform Kuaishou Technology's $5.4 billion initial public offering, at a time when the relationship between the world's two largest economies is at its lowest point in decades. U.S.-based institutional investors have agreed to invest $1.39 billion, or a quarter of the entire offering by the Tencent Holdings-backed company, according to a term sheet seen by Nikkei Asia.
China's Growing Power Scaring Ordinary Savers Out Of Hong Kong, Banking News & Top Stories - The Straits Times
January 25, 2021 8:12 AMIt was the freezing of bank accounts that changed Dan's mind. : The Hongkonger, a finance worker in his early 50s, watched China tighten its grip on the city over the past few years with growing nervousness. Yet as a self-described apolitical person - he hadn't attended any of the protests that hit the city in 2019, for example - he wasn't really worried about being personally affected. Then last month, banks including British lender HSBC Holdings froze the account of former lawmaker Ted Hui after he went into exile in the UK with his family.
Frasers Property is a Singaporean multinational real estate and property management company that develops, owns, and manages properties in across the globe. Frasers Property has divested its entire interest in a Beijing hotel apartment property to Shanghai Fu Ting Qi Ye, a venture formed by Tishman Speyer RMB funds and Shanghai Dowell Trading Co., Ltd. [...]
Imperfect Foods is a San Francisco-based online food marketplace. The company seeks to reduce food waste. Imperfect Foods raised US$ 95 million in Series D funding co-led by New York-based Insight Partners and Norwest Venture Partners at a US$ 700 million post-money valuation. Insight Partners also led the Series C round eight months ago. In [...]
Kevin Dalmut died at the age of 39. Dalmut was an investment officer for the University of Iowa Center for Advancement's US$ 1.1 billion endowment. He died on Tuesday and there is no cause of death revealed publicly. Kevin Dalmut passed on January 19th, 2021. Dalmut was with the university endowment since July 2019. Before [...]
Big pharma is smiling big right now. The big three insulin producers are Eli Lilly and Company, Novo Nordisk A/S, and Sanofi S.A., in which they dominate more than 90% of the world insulin market by value. After swearing-in, U.S. President Joe Biden's HHS froze the Trump administration's December 2020 drug policy that mandates community [...]