Economy - Finance > Management

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

1 month 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

1 month 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

1 month 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

1 month 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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Jeff Bezos' 18-year-old space-flight companion reportedly told him he had...

Jeff Bezos' 18-year-old space-flight companion reportedly told him he had never bought anything from Amazon before

Summary List Placement The 18-year-old passenger on Blue Origin's spaceflight on Tuesday had an awkward admission to former Amazon CEO Jeff Bezos during the trip. Dutch... Read more ...

July 23rd COVID-19, New Cases, Hospitalizations, Vaccinations

July 23rd COVID-19, New Cases, Hospitalizations, Vaccinations

The 7-day average cases is the highest since May 6th. The 7-day average hospitalizations is the highest since May 25th. This data is from the CDC . According to the CDC, on... Read more ...

7 great rewards credit cards that fly under the radar - but are worth paying...

7 great rewards credit cards that fly under the radar - but are worth paying attention to

Summary List Placement Some credit cards aren't advertised much, but offer bonuses or perks that make them worth a look. These hidden gems may require you to join a credit... Read more ...

Twitter could rise another 30% as ad spending is set to soar, Bank of...

Twitter could rise another 30% as ad spending is set to soar, Bank of America says

Summary List Placement Twitter stock could rise by about 30% as the social media platform stands to see further growth in advertising sales which have been recovering after the... Read more ...

Mint's first PM raises millions for Monarch, an Accel-backed money...

Mint's first PM raises millions for Monarch, an Accel-backed money management platform

Monarch , a subscription-based platform that aims to help consumers “plan and manage” their financial lives, has raised $4.8 million in seed funding. Accel led the round, which... Read more ...

Free money for all? Mayors hope local tests bring big change

Free money for all? Mayors hope local tests bring big change

By triggering $1,400 stimulus checks for millions of people and expanding the child tax credit for many families, the pandemic offered a clear takeaway for some officials: That... Read more ...

Uber Freight just dropped $2.25 billion on a logistics tech acquisition that...

Uber Freight just dropped $2.25 billion on a logistics tech acquisition that could finally make it profitable

Summary List Placement Uber Freight, the ride-hail giant's trucking division, announced Thursday it has acquired logistics technology company Transplace from TPG Capital for... Read more ...

Investors should look for stocks tied to 'data era enablers' as companies...

Investors should look for stocks tied to 'data era enablers' as companies step up investment in IT infrastructure post-pandemic, Morgan Stanley says

Summary List Placement An IT spending supercycle is underway and stocks that can ride that wave will beat the market, Morgan Stanley analysts wrote in a note on... Read more ...

The Amex Blue Business Plus and Business Cash cards don't usually offer a...

The Amex Blue Business Plus and Business Cash cards don't usually offer a welcome bonus, but new offers have sweetened the deal

Summary List Placement Amex has launched new offers on two of its popular small-business cards . Normally, the American Express Blue Business Cash™ Card and The Blue Business®... Read more ...

Wells Fargo is staffing up its restaurant finance team ahead of an expected...

Wells Fargo is staffing up its restaurant finance team ahead of an expected M&A surge

Summary List Placement Wells Fargo's depleted restaurant financing team has a new leader. Meghan Hinds, a managing director, and 15-year veteran of the bank will take the... Read more ...