SAIL Advisors Ltd., the $2 billion Hong Kong-based fund of funds that aims to expand in North America, is searching for strategies including long/short credit, relative value and long/short equity hedge funds for allocations next year, according to Wayne Yi, a senior analyst. SAIL prefers “less established” managers with less than $1 billion in assets, Yi, who is based [...]
The economy added 146,000 nonfarm payroll jobs last month, considerably stronger than the Bloomberg consensus forecast of 87,000 jobs created. Unfortunately, this job creation is overwhelmingly limited to low-wage sectors, continuing the trend established in the early stage of the recovery which is compressing the level of average hourly earnings to its lowest level on record. The recovery will continue to wane as long as [...]
WHAT TO WATCH: Mario Monti told Italy’s head of state he has lost lawmakers’ support and will resign, while Silvio Berlusconi announced plans to return to power. Greece is close to its debt buyback target, an official said. German October exports rose 0.3 percent. Industrial output in France (7.45 a.m.) and Italy (9 a.m.) probably fell, surveys show. Click here [...]
The United Arab Emirates and other Middle Eastern countries are seeking to diversify their fossil-fuel-based economies as a way to secure future jobs for the region’s burgeoning youth population. Click here to continue reading.
Several key presentations will be made at the American Society of Hematology (ASH) annual meeting in Atlanta, Georgia on Dec. 8-11. On Dec. 11, Celgene will present progression free survival (PFS) and overall survival (OS) data from the MM-003 study, a pivotal Phase III trial that tested pomalidomide in refractory resistant multiple myeloma. The drug [...]
Brokers would have to tell customers about recruiting bonuses and other compensation arrangements they earn when moving to a new firm, under a plan the Financial Industry Regulatory Authority voted yesterday to put out for comment, according to a person familiar with the meeting. Click here to continue reading this sample article from Financial Regulation.
The November employment report will require more interpretation than usual to account for both the impact of Hurricane Sandy and the changes in industry hiring trends that are behind the recent improvement in jobs gains. The hurricane affected an area responsible for about 16 percent of overall U.S. output. Click here to continue reading.
Nine months after the JPMorgan trader known as the London Whale amassed credit-derivatives bets that sparked $6 billion in losses for the bank, rivals from Bank of America to Morgan Stanley are recommending one of his main strategies. Morgan Stanley analysts included among their top 13 trades for 2013 a bet that the cost of credit [...]
Freeport-McMoRan Copper & Gold Inc., a global mining company, agreed Dec. 5 to buy two related oil and gas companies: Plains Exploration & Production Co. and McMoRan Exploration Co. The cash-and-stock Plains acquisition was valued at $10.2 billion at announcement, including debt, but that fell to about $9.5 billion yesterday after investors drove down Freeport’s shares [...]
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