Goldman Drums Up IPO Renaissance Hopes in Deals-Starved Market
A smattering of companies set to test the market for stock listings is igniting hopes across Wall Street. #press
Pot Stocks Surge on Call to Move Marijuana to Lower-Risk Category
Marijuana stocks surged on Wednesday after the US Department of Health and Human Services sent a letter to the Drug Enforcement Agency urging them to loosen rules on cannabis. #press
Tiger Cubs Hedge Funds See Inflows Slow
Investors are putting less money in the Tiger Cubs, the hedge funds run by Julian Robertson’s proteges. Cash from US investors flowing into funds run by Steve Mandel, Philippe Laffont and Dan Sundheim has plunged, in some cases down 98% from the prior 12 months, according to regulatory filings. Bloomberg's Hema Parmar reports. ... #press
Bloomberg Surveillance 08/30/2023
Tom Keene, Jonathan Ferro and Lisa Abramowicz have the economy and the markets "under surveillance" as they cover the latest in finance, economics and investment, and talk with the leading voices shaping the conversation around world markets. This show is simulcast worldwide on Bloomberg Television and Radio. (Source: Bloomberg) #press
Ford Pro CEO on Demand, EV Adoption, Pricing
Ted Cannis, Ford Pro CEO, says there is a three year backlog of demand for their trucks. He also talks about the pace of EV adoption and increased production of the F-150 Lightning electric truck. He speaks on "Bloomberg Technology." (Source: Bloomberg) #press
Naira Volatility Spurs Nigerian Firms to Seek Exchange Rate Band
Nigerian producers want the central bank to set a trading band for naira to help stem weakness in the currency and reduce the impact on manufacturing costs. #press
Marks & Spencer Makes a Return to the FTSE 100 as Hiscox Loses Out in Reshuffle
Hiscox Ltd.’s short-lived stint in the FTSE 100 Index is coming to an end. #press
Einhorn's Big Black Knight Bet Is Set to Pay Off
Hedge fund manager David Einhorn bet big that Intercontinental Exchange Inc. would succeed in taking over mortgage software company Black Knight Inc. despite US antitrust opposition, and his wager is set to pay off. Sonali Basak reports on "Bloomberg Markets: European Close." (Source: Bloomberg) #press
Standard Chartered Offers 20 Weeks Paid Leave
Standard Chartered will offer at least 20 weeks of paid leave to new parents starting next month, joining a wave of companies expanding benefits for dads and adoptive parents as well as moms. Sonali Basak reports on "Bloomberg Markets: European Close." (Source: Bloomberg) #press
Ex-Citadel Traders’ Hedge Fund Drops 25% After Blockbuster Debut
Europe’s biggest hedge fund startup in 2021, founded by two former Citadel money managers Niall O’Keeffe and Tio Charbaghi, has suffered heavy losses. #press
Grayscale CEO Unsure if Firm Has to Refile With SEC for Spot Bitcoin ETF
Grayscale Investments LLC Chief Executive Officer Michael Sonnenshein isn’t sure yet whether the firm needs to refile an application with the SEC to offer an ETF that invests directly in Bitcoin after winning a key dispute with the regulator. #press
Boat Stocks Slump After MasterCraft Outlook Fuels Demand Concerns
Boat manufacturers and dealers dropped as MasterCraft Boat Holdings Inc.’s weaker-than-expected sales forecast stoked concern over waning consumer demand and elevated inventories. #press
How Tunisia’s Migrant Crackdown Muddles IMF Bailout Talks
Tunisia has overtaken Libya as the preferred route for sub-Saharan migrants trying to reach Europe across the Mediterranean. The cash-strapped North African nation is ill-equipped to cope, and many of the migrants have been subjected to racist attacks by the local population and abuse by police. President... #press
Markets Closer to Inflection Point, Apollo's Slok Says
Apollo Management Partner and Chief Economist Torsten Slok says the markets are getting closer to a point where the Fed funds rate will peak and rates will move sideways during an interview with Dani Burger and Alix Steel on "Bloomberg Markets." (Source: Bloomberg) #press
Russia in Talks With OPEC+ on Extending Oil-Export Cuts
Russia is discussing with its OPEC+ partners the possibility of extending oil-export cuts into October, but no decision has been made so far, Interfax reported, citing Deputy Prime Minister Alexander Novak in Moscow. #press
Fed Ramps Up Demands for Corrective Actions by Regional Banks
US regulators are quietly demanding that regional lenders shore up their liquidity planning, part of a ramp-up in efforts to tighten supervision in the wake of three bank failures earlier this year. #press
US Economy Makes Limited Progress While Companies Temper Hiring
The US economy made more limited progress in the second quarter than initially estimated while separate data showed employment growth is moderating. #press
Yen’s Recent Rebound Has Limits With Month-End Reversal Expected
The yen’s recent strength may be short-lived as August draws to a close. #press
Einhorn’s Greenlight to Reap Big Gains on Black Knight Bet
Hedge fund manager David Einhorn bet big that Intercontinental Exchange Inc. would succeed in taking over mortgage software company Black Knight Inc. despite US antitrust opposition, and his wager is set to pay off. #press
Carpenter: A Soft Landing Is Most Likely Outcome for US
Seth Carpenter, Morgan Stanley chief global economist, says a soft landing is the most likely outcome for the US economy. He's on "Bloomberg Surveillance." (Source: Bloomberg) #press
