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DAILY NEWS

Porsche prevails at U.S. appeals court over VW squeeze
By Reuters
08/15/2014 5:37:30 PM ET

NEW YORK (Reuters)—Porsche Automobil Holding SE persuaded a U.S. federal appeals court to uphold the dismissal of a lawsuit by more than 30 hedge funds that claimed to suffer big losses because the German automaker fraudulently cornered the market in Volkswagen AG shares.
Argentina debt talks collapsed over price, guarantees
By Reuters
08/14/2014 4:14:22 PM ET

NEW YORK (IFR)—Argentine debt talks collapsed due to disagreements over the price of its bonds and the absence of a government guarantee to honor payments on them, sources close to the discussions said. International banks had appeared to be nearing agreement to buy Argentina paper from holdout creditors who have refused to accept a debt restructuring deal with the sovereign.
Argentina calls hedge funds in debt case an 'international mafia'
By Reuters
08/14/2014 11:18:57 AM ET

BUENOS AIRES (Reuters)—The hedge funds suing Argentina over its 2002 debt default are an "international mafia" out to wreck the country's finances, the government said on Thursday [Aug. 14], pumping up the rhetoric in a battle that is squeezing the struggling Argentine economy.
Aurelius sees no realistic private solution in Argentine dispute
By Reuters
08/13/2014 5:44:13 PM ET

NEW YORK (Reuters)—Argentine holdout creditor Aurelius Capital Ltd. said on Wednesday [Aug. 13] that talks with many financial institutions about finding a private settlement solution to the sovereign debt dispute had garnered no realistic proposals.
Argentina slams U.S. judge in debt case, defies contempt threat
By Reuters
08/13/2014 1:24:23 PM ET

BUENOS AIRES (Reuters)—Argentina came out swinging on Wednesday [Aug. 13] against the U.S. judge overseeing its debt default case, defying a threatened contempt order and dashing market hopes it might soon restart talks with the hedge funds suing the country.
Argentine debt mediator expects more meetings ahead
By Reuters
08/13/2014 10:29:09 AM ET

NEW YORK (Reuters)—Daniel Pollack, the court-appointed mediator in the debt dispute between Argentina and holdout creditors, who has come under fire from the Argentine government for his handling of the talks, expects to hold more meetings with both sides. U.
Data show investors raise hedge fund bets in August
By Reuters
08/12/2014 4:23:42 PM ET

LONDON (Reuters)—Investor interest in hedge funds rose in August as they added more cash than they redeemed, even as performance dipped during July, data showed on Tuesday [Aug. 12].
International banks struggling to cut Argentina debt deal
By Reuters
08/12/2014 3:53:57 PM ET

NEW YORK (IFR/Reuters)—International banks are struggling to reach a deal to buy a chunk of Argentine sovereign debt held by New York hedge funds suing the country, sources close to the negotiations said on Tuesday [Aug. 12].
BlackRock launches multi-manager alternatives fund for retail investors
By Reuters
08/12/2014 2:46:22 PM ET

NEW YORK (Reuters)—BlackRock Inc., which has been heavily promoting alternative investments to retail investors, intensified that effort on Tuesday [Aug.
Brevan Howard to battle co-founder Rokos' rival plans: report
By Reuters
08/11/2014 10:58:58 AM ET

LONDON (Reuters)—Hedge fund firm Brevan Howard is battling a court case filed by former trader Christopher Rokos, who is asking for his five-year non-compete clause to be overturned, the Financial Times reported on Sunday [Aug. 10], citing documents filed to a court in Jersey.
Funds ready to pay towards reform of FX-fixing system
By Reuters
08/08/2014 4:51:24 PM ET

LONDON (Reuters)—Asset managers will agree to pay more for currency "fixing" services when they respond later this month to proposals by global regulators for reforms of foreign exchange benchmarks, industry sources said on Friday [Aug. 8].
Alternative investments to grab up to 40 percent of revenues by 2020: McKinsey
By Reuters
08/06/2014 2:24:17 PM ET

NEW YORK (Reuters)—Hedge funds, private equity funds and other alternative investments will command up to 40 percent of the asset management industry's global revenues by 2020 as investors seek them for safety and consistent returns, consulting firm McKinsey & Co. said on Wednesday [Aug.
Goldman rethinks services it provides to hedge funds: report
By Reuters
08/05/2014 1:48:08 PM ET

NEW YORK (Reuters)—Goldman Sachs Group Inc. is jettisoning less-profitable hedge-fund clients and raising fees on others as it tries to adapt to new banking rules, The Wall Street Journal reported on Monday [Aug.
Man Group inflows slow, profit margins narrow
By Reuters
08/01/2014 2:00:14 PM ET

LONDON (Reuters)—Hedge fund manager Man Group Plc reported a sharp fall in net inflows in the second quarter on Friday [Aug. 1] and its chief executive said he was cautious on the outlook for the rest of the year, attracting a mixed reaction from analysts.
International banks eye Argentina holdout debt
By Reuters
08/01/2014 10:41:30 AM ET

NEW YORK (IFR)—International banks could be joining the effort to buy up the Argentine debt from sovereign's holdout creditors and resolve the messy default standoff, multiple sources said Thursday [July 31]. Just as Argentina went into its second default in 13 years following a bitter legal fight in the U.
Credit Suisse says probed by regulators about dark pools
By Reuters
07/31/2014 12:14:31 PM ET

ZÜRICH (Reuters)—Swiss bank Credit Suisse on Thursday [July 31] became the latest major European bank to say it was caught up in an investigation into alternative trading venues known as dark pools. The bank is one of the biggest players in dark pools, which are broker-run trading venues that let investors trade shares anonymously and only make trading data available afterwards, reducing the chance of information leaking about trade orders.
Argentina defaults but investors see deal possible eventually
By Reuters
07/31/2014 11:34:30 AM ET

BUENOS AIRES (Reuters)—Argentina defaulted for the second time in 12 years after last-ditch talks with what it called "vulture" creditors failed, as focus turned to whether big banks and funds would request the declaration of a "credit event". After a long legal battle with hedge funds which had rejected Argentina's debt restructuring following a 2002 default, Latin America's third-biggest economy failed to strike a deal in time to meet a midnight U.
Ex-hedge fund chief Micalizzi loses appeal against UK ban, fine
By Reuters
07/30/2014 4:09:20 PM ET

LONDON (Reuters)—The Italian former head of defunct UK hedge fund Dynamic Decisions on Wednesday [July 30] lost his appeal against a multi-million pound fine and a ban from holding any role in Britain's financial sector. A court in London said former chief executive and university lecturer Alberto Micalizzi had "deliberately misrepresented" to investors the position of the DD Growth Premium Master Fund, worth $437 million in 2008 before collapsing the same year.
U.S. regulators looking into UBS, Deutsche Bank speed trading operations
By Reuters
07/29/2014 1:41:54 PM ET

FRANKFURT/ZURICH (Reuters)—Germany's Deutsche Bank and Switzerland's UBS said they were caught up in an inquiry by U.S. regulators, who are looking into whether broker-run stock exchanges gave an unfair advantage to high-frequency traders.
Lloyds not off hook yet after $370 million LIBOR fines
By Reuters
07/28/2014 3:54:56 PM ET

LONDON (Reuters)—Lloyds Banking Group could face further punishment after agreeing to pay fines totaling $370 million for its part in a global interest rate rigging scandal and for attempting to manipulate fees for a government lending scheme to help banks. The settlement is the seventh joint penalty handed out by American and British regulators in connection with the attempted manipulation of the London Interbank Offered Rate, or LIBOR, and other similar benchmarks used to price around $450 trillion of financial products worldwide.






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