Bitcoin futures investors to suffer losses
Businessam Staff
January 8, 2018
Investors who ploughed money into bitcoin futures are currently facing hefty losses, as the first contracts are set to expire in just over a week. Soon after bitcoin futures debuted on the Chicago Board Options Exchange (CBOE) in December, frantic trading caused the price of the January contract to rise from around $15,000 to almost […]
Hedge fund manager Hart finally gives up on China bet after he lost millions
Businessam StaffSeptember 7, 2017
Mark Hart, an investor spent seven years and $240 million waiting on a crash in China’s currency. According to Bloomberg, he lost sleep. He lost clients. He almost lost his sanity. And now he’s lost his conviction: Hart, who called for a more than 50 percent yuan devaluation last year, has turned bullish on China and its currency. […]
Qatari Sovereign Wealth Fund reduces stake in Credit Suisse
Businessam StaffAugust 16, 2017
The Qatar Investment Authority has reduced its shareholding in Credit Suisse Group to AG 4.94 percent, amid the Middle Eastern nation’s diplomatic spat with neighbouring countries. The country’s sovereign wealth fund, known as QIA, previously held 5.01 percent in voting rights, according to a Swiss stock market filing. Qatar’s overall holding in Credit Suisse — made up of so-called […]
Saudi’s Prince Alwaleed to invest $800 million in Egypt
Businessam StaffAugust 7, 2017
Saudi Arabia’s billionaire, Prince Alwaleed bin Talal, will invest about 800 million dollars to expand the Four-Seasons-resort in Sharm el-Sheikh, in partnership with Talaat Moustafa Holding Group, Egypt’s Investment Minister, Sahar Nasr said on Monday. According to Reuters/NAN’s report, the billionaire’s investment will also include establishing two new hotels in al-Alamein, a town on Egypt’s Mediterranean […]
Uber shareholders reportedly talk up selling stock to SoftBank, others
Businessam StaffJuly 16, 2017
Uber’s shareholders and its board, led by venture capital firm Benchmark, have discussed selling some of their shares to Masayoshi Son’s SoftBank Group and other potential investors, Bloomberg reported, citing people familiar with the matter. The deal could include investment of new money into the startup, Bloomberg reported, adding that details about the valuation of shares or how much SoftBank […]
Investors bet on comeback: UK’s Alan Howard amasses $3 billion
Businessam StaffJuly 7, 2017
Investors are betting Alan Howard can reclaim his touch as a star macroeconomic trader, helping Brevan Howard Asset Management amass more than $3 billion (2.4 billion pounds) for a hedge fund he alone will control. Howard, one of Britain’s best known money managers, has raised more than $700 million from outside investors for the new […]
Warren Buffett’s Berkshire to become BofA’s top shareholder after share swap
Businessam StaffJune 30, 2017
Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) will swap its preferred shares in Bank of America Corp (BAC.N) into common shares worth about $17 billion, making it the biggest shareholder of lender. Berkshire said on Friday it would exercise its warrants for 700 million common shares of Bank of America following a dividend increase by the […]
China sovereign fund acquires European warehouse company
Businessam StaffJune 3, 2017
China’s sovereign wealth fund is expanding its presence in Europe by acquiring a warehouse company in a 12.25 billion euro ($13.8 billion) deal, AP reports. China Investment Corp.’s purchase of Logicor from U.S. investment firm Blackstone Group adds to a multibillion-dollar string of Chinese acquisitions in Europe. Logicor operates in 17 countries including Britain, Germany […]
Private equity firm wants Alibaba billionaire Jack Ma to join a takeover bid for The Body Shop
Businessam StaffJune 3, 2017
European private equity firm Invest industrial has invited the investment vehicle of Alibaba’s founder Jack Ma to submit a joint bid of more than €800 million (£700 million, $900 million) for L’Oreal’s The Body Shop, sources familiar with the matter said on Friday, just days before a deadline for final bids. Hong Kong-based Blue Pool […]
Robo-advisers battle Wall Street for rich investors
Businessam StaffMay 24, 2017
Citigroup Inc. doesn’t think its richer customers will drop their high-priced money managers in favor of automated investing, but Betterment LLC is betting it can prove the big bank wrong. The robo-adviser—the largest among independent digital advice startups that popped up after the 2008 financial collapse—has overhauled its entire brand. The shift in marketing and […]