Management

$3 billion Maplelane Capital - which was slammed by the GameStop frenzy in January - lost money in May

2 days ago   |   By Business Insider

Summary List Placement One of Reddit traders' hedge-fund targets - $3 billion Maplelane Capital - took a step back in May as it tries to dig out of its GameStop-caused hole.
The fund, run by former Galleon Group portfolio manager Leon Shaulov, lost 2.7% last month and is down roughly 39% for the year, sources tell Insider. The manager lost 45% in January thanks to a short position against GameStop, which had its stock inflated by legions of Reddit-connected retail traders who were targeting to short squeeze another hedge fund, Melvin Capital.
Maplelane, similar to Melvin, had begun to claw...
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Bank of America nabs high-yield bond salesman and leveraged finance veteran from UBS

Bank of America nabs high-yield bond salesman and leveraged finance veteran from UBS

2 days ago   |   By Business Insider

Summary List Placement Bank of America has poached senior high-yield bond salesman Matt Quarello from UBS.
Quarello, who specializes in leveraged finance sales and structured credit trading, will join BofA after nearly 14 years with the Swiss investment bank, two sources familiar with the move told Insider.
He will join the US bank's cross-credit sales desk as a director, and will start the new gig in August, a person familiar with the matter said.
A spokesperson for UBS was not immediately available to comment on Quarello's departure.
The move is the latest in a flurry of activity across...
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Citi Custom Cash Card review: Earn a $200 bonus and get 5% back in your top monthly spending category

Citi Custom Cash Card review: Earn a $200 bonus and get 5% back in your top monthly spending category

2 days ago   |   By Business Insider

Citi Custom Cash℠ CardSummary List Placement
Review: Is the Citi Custom Cash card the best credit card for you?
There are lots of excellent cash-back credit cards on the market, and they all earn rewards in slightly different ways. Some cards earn a flat rate of cash back on all purchases or extra rewards in fixed categories, and others have rotating bonus categories that change every quarter.
The new Citi Custom Cash℠ Card takes a different approach. Cardholders earn 5% cash back on up to $500 in purchases in the eligible category they spend the most in each billing cycle , and 1% on all...
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Credit Suisse has lost at least 44 execs, bankers, and traders in recent months. Here's a running list of who left and where they're going

Credit Suisse has lost at least 44 execs, bankers, and traders in recent months. Here's a running list of who left and where they're going

2 days ago   |   By Business Insider

Summary List Placement Nearly 50 senior employees have parted ways with Credit Suisse during recent months, according to hiring announcements by other banks, a review of reported exits, and people familiar with the moves.
The Swiss bank has been embroiled in a string of problems over the last two years, starting with a 2019 spying scandal involving its then-chief operating officer keeping tabs on rival UBS, which was followed by the resignation of its CEO four months later. Credit Suisse has also taken hits when accounting scandals rocked then-clients Luckin Coffee and Wirecard, and when...
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Mark Cuban breaks down the DeFi ecosystem and how he profits from 'yield...

Mark Cuban breaks down the DeFi ecosystem and how he profits from 'yield farming' in a new blog. Here are the 8 best quotes

Summary List Placement Mark Cuban made the majority of his fortune selling Broadcast.com to Yahoo! for $5.7 billion in stock near the height of the dot com bubble. Now, the... Read more ...

For over 35 years, Rosanna Durruthy has advocated for a more inclusive...

Rosanna Durruthy, LinkedIn's head of DEI, wants companies to prioritize inclusion as much as they prioritize diversity. LinkedIn For Pride Month, Insider interviewed Rosanna... Read more ...

Stocks slip on Wall Street, pull S&P 500 below record

Stocks fell on Wall Street Monday in a sluggish start to the week as investors await the latest take from the Federal Reserve on inflation. Read more ...

Wynn buffet reopening

Wynn Las Vegas announced its all-you-can-eat experience will return just in time for the Fourth of July weekend. Read more ...

Food insecurity remains pressing problem in Southern Nevada

Demand at Southern Nevada food pantries has stabilized from a shocking peak more than a year ago, but Three Square food bank is still distributing over 1 million more pounds of... Read more ...

Evidence Piles Up That Covid Immunity Among Previously Infected May Be...

Scientists are still trying to figure out exactly how long immunity to the virus lasts-but several studies of previously infected people suggest it could be years. Read more ...

A Quick Look At Olivia Rodrigo's Historic Week On The Streaming Chart

Four ways Olivia Rodrigo made history on the Streaming Songs chart when her album first arrived. Read more ...

Here's Why The Average Vehicle On The Road Is Older Than Ever

Multiple pandemic-fueled factors are forcing motorists to hold onto their rides for longer than ever. Read more ...

NBC's Keir Simmons Says Putin Was ‘Urging Me To Believe Him' In Exclusive...

“Maybe that was the former KGB officer trying to use his powers of persuasion, or maybe President Putin is not just a threat-but feels threatened.” Read more ...

Chicago Cubs Have Built A Deep Bullpen Without Big Spending

When the Cubs swept St. Louis last weekend, they used seven relievers who worked a combined 10 1/3 scoreless innings, allowing only five hits as they reduced the bullpen ERA to... Read more ...