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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July 24th COVID-19, New Cases, Hospitalizations, Vaccinations

July 24th COVID-19, New Cases, Hospitalizations, Vaccinations

The 7-day average cases is the highest since May 3rd. The 7-day average hospitalizations is the highest since May 22nd. This data is from the CDC . According to the CDC, on... Read more ...

The DL on CockroachDB

The DL on CockroachDB

As college students at Berkeley, Spencer Kimball and Peter Mattis created a successful open-source graphics program, GIMP, which got the attention of Google. The duo ultimately... Read more ...

Vatican closes 2020 with shortfall, but better than forecast

VATICAN CITY - The Vatican closed out 2020 with a deficit of 66.3 million euros , which was better than projected and even lower than pre-pandemic 2019, according to figures... Read more ...

Student Loan Cancellation Won't Stimulate The Economy, According To New Research

Student loan cancellation isn't a financial stimulus. Read more ...

This Week in Apps: Clubhouse opens up, Twitter talks bitcoin, Snap sees...

This Week in Apps: Clubhouse opens up, Twitter talks bitcoin, Snap sees record quarter

Welcome back to This Week in Apps, the weekly TechCrunch series that recaps the latest in mobile OS news, mobile applications and the overall app economy. The app industry... Read more ...

'We can expect fireworks': 6 experts sound off on their expectations for...

'We can expect fireworks': 6 experts sound off on their expectations for Robinhood's hugely anticipated IPO

Summary List Placement Robinhood's mission since it was founded in 2013 has been to "democratize finance for all." Years later, ahead of its hotly-anticipated initial public... Read more ...

Schedule for Week of July 25, 2021

Schedule for Week of July 25, 2021

The key report this week is the advance estimate of Q2 GDP. Other key reports include June New Home Sales, Personal Income and Outlays for June, and Case-Shiller house prices... Read more ...

Jeremy Grantham's GMO says stocks are overvalued by every metric, but there...

Jeremy Grantham's GMO says stocks are overvalued by every metric, but there are 3 strategies investors can use to weather a crash

Summary List Placement Billionaire Jeremy Grantham's investment firm says stocks are too pricey, outlining their view as US equities sit at record highs, with the team offering... Read more ...

Jeremy Grantham's GMO says stocks are overvalued by every metric, but there...

Jeremy Grantham cofounded the asset management firm GMO. Boston Globe/Getty Images Stocks worldwide are expensive and US stock valuations are at concerning levels, Jeremy... Read more ...

Amazon wants a ‘key' to your apartment building

The online shopping giant is pushing landlords around the country - sometimes with financial incentives - to give its drivers the ability to unlock apartment-building doors... Read more ...