Investment adviser firms registering for the first time as commodity pool operators (CPOs) or commodity trade advisers (CTAs) may spend up to $450,000 to get new computer systems, software and employees up to speed with U.S. Commodity Futures Trading Commission requirements, according to Karen Barr, general counsel of the Investment Advisers Association. The costs, which include figuring [...]
Senior management of Alegra Capital Ltd. will relocate from Pfaeffikon, Switzerland to Vaduz, Liechtenstein as the firm shifts management of its Alegra ABS Fund to a newly formed subsidiary. The changes were sparked by the Alternative Investment Fund Managers, or AIFM, rules that are set to take effect next summer, according to Alegra chief executive officer Daniel Riediker. Continue reading.
Simple pattern and volume analysis suggest a potential bullish primary trend reversal in the Egyptian EG X30 Index. After prolonged bear markets, volume is often a key indication of recovery. Typically, a bear market doesn’t end until market participants are discouraged by losses and uninterested in equities. It is at this point that selling pressure is exhausted. When strong volume finally accompanies a move higher, [...]
EIG Global Energy Partners LLC, a spinout from TCW Group Inc., plans to seek $4.25 billion for its next energy fund in 2013, according to two people familiar with the situation. EIG Energy Fund XVI LP’s predecessor gathered $4.12 billion in 2011. The new fund, which plans to officially come to market in February, will make [...]
Hostess Brands Inc. will ask a bankruptcy judge today for permission to shut down permanently, costing more than 18,000 jobs, after mediation with its bakers’ union failed to resolve a contract dispute. “A mediation today with the Bakery, Confectionary, Tobacco and Grain Millers Union was unsuccessful,” Hostess said yesterday in a statement. The company said it wouldn’t comment further until today’s court hearing. Continue reading
A decline in Brazil’s real and a ratings upgrade for Nigeria are spurring sales of structured notes tied to emerging market sovereign debt, while issuance of similar securities linked to euro-area nations dries up. Click here to continue reading.
Match the hedge fund manager with his favorite Thanksgiving dish. Managers: 1. David Einhorn, Greenlight Capital 2. John Griffin, Blue Ridge Capital 3. Julian Robertson, Tiger Management 4. Lee Ainslie, Maverick Capital 5. Glenn Dubin, Highbridge Capital 6. Roy Niederhoffer, RG Niederhoffer Capital Favorite Dish: 1. Wild rice. 2. Creamed onions. 3. Cranberry sauce – “not [...]
There needs to be a “global solution” to curbing aviation emissions, not one supported by a single country or region, said Ken Hylander, senior vice president for corporate safety, security and compliance at Delta Air Lines Inc. Continue reading here.
The FDA may issue its decision this week regarding GlaxoSmithKline/Ligand’s supplemental New Drug Application (sNDA) for Promacta. A decision from the agency is expected by Nov. 24, Bloomberg Industries estimates. Glaxo submitted regulatory filings in the U.S. and EU at the end of May. The application seeks to expand the drug’s label to include treatment of thrombocytopenia in [...]
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