Hedge fund manager Hart finally gives up on China bet after he lost millions

Mark Hart, Hedge fund manager

Mark Hart, an investor spent seven years and $240 million waiting on a crash in China’s currency. According to Bloomberg, he lost sleep. He lost clients. He almost lost his sanity. And now he’s lost his conviction: Hart, who called for a more than 50 percent yuan devaluation last year, has turned bullish on China and its currency. […]

Qatari Sovereign Wealth Fund reduces stake in Credit Suisse

The Qatar Investment Authority has reduced its shareholding in Credit Suisse Group to AG 4.94 percent, amid the Middle Eastern nation’s diplomatic spat with neighbouring countries. The country’s sovereign wealth fund, known as QIA, previously held 5.01 percent in voting rights, according to a Swiss stock market filing. Qatar’s overall holding in Credit Suisse — made up of so-called […]

Saudi’s Prince Alwaleed to invest $800 million in Egypt

Saudi Arabia’s billionaire, Prince Alwaleed bin Talal, will invest about 800 million dollars to expand the Four-Seasons-resort in Sharm el-Sheikh, in partnership with Talaat Moustafa Holding Group, Egypt’s Investment Minister, Sahar Nasr said on Monday. According to Reuters/NAN’s report, the billionaire’s investment will also include establishing two new hotels in al-Alamein, a town on Egypt’s Mediterranean […]

Uber shareholders reportedly talk up selling stock to SoftBank, others

Uber’s shareholders and its board, led by venture capital firm Benchmark, have discussed selling some of their shares to Masayoshi Son’s SoftBank Group and other potential investors, Bloomberg reported, citing people familiar with the matter. The deal could include investment of new money into the startup, Bloomberg reported, adding that details about the valuation of shares or how much SoftBank […]

Investors bet on comeback: UK’s Alan Howard amasses $3 billion

Investors are betting Alan Howard can reclaim his touch as a star macroeconomic trader, helping Brevan Howard Asset Management amass more than $3 billion (2.4 billion pounds) for a hedge fund he alone will control. Howard, one of Britain’s best known money managers, has raised more than $700 million from outside investors for the new […]

China sovereign fund acquires European warehouse company

China’s sovereign wealth fund is expanding its presence in Europe by acquiring a warehouse company in a 12.25 billion euro ($13.8 billion) deal, AP reports. China Investment Corp.’s purchase of Logicor from U.S. investment firm Blackstone Group adds to a multibillion-dollar string of Chinese acquisitions in Europe. Logicor operates in 17 countries including Britain, Germany […]

Robo-advisers battle Wall Street for rich investors

Citigroup Inc. doesn’t think its richer customers will drop their high-priced money managers in favor of automated investing, but Betterment LLC is betting it can prove the big bank wrong. The robo-adviser—the largest among independent digital advice startups that popped up after the 2008 financial collapse—has overhauled its entire brand. The shift in marketing and […]

Shareholders take Akzo Nobel to court to oust Chairman Burgmans

Akzo Nobel (AKZO.AS) shareholders angered by the Dulux owner’s rejection of a 26.3 billion euro ($29.5 billion) takeover offer from U.S. rival PPG Industries (PPG.N) took their fight to an Amsterdam court on Monday. Activist hedge fund Elliott Advisors, supported by several long-term institutional investors, asked the Amsterdam Enterprise Chamber to order an investigation into […]