Business

Gabe Plotkin's Melvin Capital, which came under siege from Wall Street Bets, took another hit in March

28 days ago   |   By Business Insider

Summary List Placement Gabe Plotkin's Melvin Capital took a step back from digging itself out of its GameStop hole in March.
The $8 billion equity hedge fund lost 7% last month, finishing the first quarter down 48.8%, sources told Insider. The average hedge fund, according to Hedge Fund Research, made 1% last month and earned just over 6% over the first quarter.
Melvin declined to comment.
The firm was the focus of a retail trading frenzy, coordinated on Reddit messaging boards, of GameStop, a video-game retailer that Melvin shorted. The short squeeze caused one of the best-performing...
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Credit Suisse reins in hedge fund limits following $4.7 billion loss tied to Archegos Capital, report says

Credit Suisse reins in hedge fund limits following $4.7 billion loss tied to Archegos Capital, report says

28 days ago   |   By Business Insider

Summary List Placement
Credit Suisse is reining in limits on hedge funds following the $20 billion Archegos Capital meltdown, according to a Bloomberg report .
The financial giant will absorb a $4.7 billion writedown after Bill Hwang's family office was forced to liquidate its entire portfolio, to which the bank was heavily exposed.
Credit Suisse is now shifting to a dynamic margin requirement for clients that utilize swap agreements, according to Bloomberg.
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Credit Suisse is implementing new limits on hedge fund...
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The economist who was off by 1.8 million in Friday's jobs report explains...

The economist who was off by 1.8 million in Friday's jobs report explains why she's doubling down on her call for stellar job growth

Summary List Placement Having the least-correct forecast for April payrolls isn't swaying Aneta Markowska, chief economist at Jefferies. The US added just 266,000 payrolls last... Read more ...

Dow, S&P 500 close at record highs after dismal jobs report gives Fed more...

Dow, S&P 500 close at record highs after dismal jobs report gives Fed more breathing room

Summary List Placement The Dow Jones and S&P 500 closed at record highs on Friday after a weak April jobs report gave the Federal Reserve breathing room to continue with its... Read more ...

Gold spikes as as 'epic' miss in April jobs report eases worries about a Fed...

Gold spikes as as 'epic' miss in April jobs report eases worries about a Fed rate hike

Summary List Placement Gold prices jumped Friday after the weak US monthly jobs report tamped down expectations of an interest-rate hike by the Federal Reserve, making the... Read more ...

The WHO is granting emergency use of China's Sinopharm COVID-19 vaccine

The WHO is granting emergency use of China's Sinopharm COVID-19 vaccine

Summary List Placement A World Health Organization panel has authorized the emergency use of a COVID-19 vaccine made by China's Sinopharm. The vaccine was developed by... Read more ...

The Chamber of Commerce calls for an end to $300 federal unemployment...

The Chamber of Commerce calls for an end to $300 federal unemployment benefits after April's lackluster jobs report

Summary List Placement The Chamber of Commerce called for an end to the $300-per-week federal unemployment benefit on Friday, assailing it as an obstacle to the economic... Read more ...

Nancy Messonnier, the senior CDC official who first warned the US about the...

Nancy Messonnier, the senior CDC official who first warned the US about the coronavirus pandemic, is resigning

Summary List Placement Nancy Messonnier, a senior health official at the Centers for Disease Control and Prevention who first warned the US of the COVID-19 pandemic is... Read more ...

US job growth unexpectedly softens, falling far below expectations

US job growth unexpectedly softens, falling far below expectations

Despite bullish predictions and the recovery of the US economy, job growth slowed in April compared to a month earlier, figures released by the Labor Department show. According... Read more ...

The disappointing April jobs report showed gains were mainly in leisure and...

The disappointing April jobs report showed gains were mainly in leisure and hospitality

Summary List Placement The leisure and hospitality sector was the only major industry to see a six-digit job gain between March and April. The US added just 266,000 nonfarm... Read more ...

Tech stocks jump after bad April jobs-report miss dampens inflation fears

Tech stocks jump after bad April jobs-report miss dampens inflation fears

Summary List Placement Tech stocks jumped on Friday after a weak April jobs report led to a rally in stay-at-home stocks. April saw an addition of 266,000 jobs, well below the... Read more ...

Ripple's XRP sales almost doubled in the first quarter of 2021 thanks to a...

Ripple's XRP sales almost doubled in the first quarter of 2021 thanks to a surge in uptake of on-demand liquidity services

Summary List Placement Ripple said on Thursday its XRP sales almost doubled in the first quarter of 2021 compared to the last three months of last year. XRP sales rose 97% to... Read more ...