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☆ $2 billion Gladstone could be on the 'verge of significant AUM growth.' A look inside the British hedge fund's short-selling focus and past big bets.
▼ + stars: | 2024-04-04 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +1 min

Gladstone, a London-based equity hedge fund with $2 billion in assets, is set to expand. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAfter years of conservative growth and cautious maneuvering, $2 billion Gladstone could be set for a serious expansion. The British stock-picking hedge fund, founded in 2005 by former Lansdowne investor George Michelakis, believes it is on the "verge of significant AUM growth," a person close to the firm told Business Insider. This story is available exclusively to Business Insider subscribers.

Persons: Gladstone, Marshall Wace, Daoud Zekrya, —, Lansdowne, George Michelakis Organizations: Service, Gladstone, Business Locations: London

☆ Noted Tesla bear says Musk's EV maker could 'go bust' and stock is worth $14
▼ + stars: | 2024-04-03 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

Since 2020, Clean Energy Transition has been short Tesla's stock, meaning Lekander's firm will profit if the automaker's shares fall. Lekander has taken his bearish Tesla call further, suggesting the stock could fall to $14 per share. watch nowIf Tesla's stock hit $14, that would represent around 91% downside from Tuesday's close. Analysts at HSBC and TD Cowen cut their price targets on Tesla's stock on Wednesday. Cathie Wood's Ark Invest bought Tesla stock for some of its funds this week ahead of the first-quarter delivery numbers in a sign of support.

Persons: Elon Musk, Tesla, Antonio Masiello, shorting, Lekander, Tesla's, that's, Richard Windsor, Windsor, Dan Ives, Ives, TD Cowen, Cathie Wood, Tom Narayan, CNBC's Organizations: Fratelli, shorting Elon, CNBC, Wednesday, Clean, Lansdowne Partners, Volkswagen, Radio Free Mobile, Wedbush Securities, HSBC, Invest, RBC Capital Markets Locations: Italy, Rome

☆ 6 Bodies Found at Burned Pennsylvania House Where 2 Officers Were Shot
▼ + stars: | 2024-02-09 | by ( Jesus Jiménez | ) www.nytimes.com time to read: +1 min

The remains of six family members have been recovered from a burned home in southeastern Pennsylvania, including those of a man who is believed to have shot two police officers on Wednesday, the authorities said on Friday. Jack Stollsteimer, the Delaware County district attorney, said at a news conference on Friday afternoon that the recovery of the bodies was “gruesome work” that had lasted into Friday. Mr. Stollsteimer said on Thursday that three adults and three children had been feared dead in a fiery episode that began on Wednesday afternoon when the police responded to a report that an 11-year-old girl had been shot at a home in East Lansdowne, Pa., just west of Philadelphia. When police officers arrived at the home, they were immediately met with gunfire, and two officers were injured, according to Mr. Stollsteimer. Some time after the officers were shot, the home burst into flames, and officials had to wait overnight for the fire to subside before they could begin recovering the bodies, Mr. Stollsteimer said.

Persons: Jack Stollsteimer, Stollsteimer Locations: Pennsylvania, Delaware County, East Lansdowne, Pa, Philadelphia

☆ Investigators Search Ruins of Philadelphia House Fire for at Least Six People
▼ + stars: | 2024-02-08 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Investigators on Thursday sifted through the charred ruins of a house in a Philadelphia suburb for the remains of at least six people, including at least one child, after the home was set ablaze by a suspect who shot and wounded two responding police officers. When police arrived, the suspect opened fire from inside the home, striking two officers, and set fire to the two-story, wood-frame home. "I think today might be a grim day," he told Fox 29 in Philadelphia, adding the shooter is expected to be among the dead inside the home. The fire burned too intensely for firefighters to enter as flames and smoke billowed out of the home, Stollsteimer told reporters on Wednesday. "We got the thumbs up from them," said Stollsteimer, the chief prosecutor for the county, which has a population of about 575,000.

Persons: Jack Stollsteimer, Stollsteimer, Brendan O'Brien, Christina Fincher Organizations: Reuters, Fox News, Fox Locations: Philadelphia, East Lansdowne, Delaware County, Chicago

☆ At Least 6, Including Children, Feared Dead in Philadelphia-Area Fire
▼ + stars: | 2024-02-07 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Six to eight people are feared dead in a house fire that broke out near Philadelphia on Wednesday, and two police officers responding to the blaze were wounded by gunfire from inside the home, officials said. The suspected shooter was believed to have set fire to the home and was among those still inside, Delaware County District Attorney Jack Stollsteimer said. The fire was burning too intensely to enter, so officials said they would wait until Thursday to search for victims, Stollsteimer told reporters. We know the victim's family had a lot of people living in that house including children. We're aware that there were at least six to eight people who are unaccounted for from that family," Stollsteimer said.

Persons: Jack Stollsteimer, Stollsteimer, Daniel Trotta, Gerry Doyle Organizations: Reuters Locations: Philadelphia, Delaware County, East Lansdowne

☆ Rite Aid is planning to close about 150 locations. See if your local store is on the list.
▼ + stars: | 2023-10-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +9 min

Rite Aid filed plans to close 154 stores on Monday as part of its Chapter 11 bankruptcy. Rite Aid is the smallest of the three major drugstore chains, well behind CVS and Walgreens. Rite Aid was expected to close stores as part of its bankruptcy. Rite Aid told Insider that it considers a variety of factors when deciding to close a store, "including business strategy, lease and rent considerations, local business conditions and viability, and store performance." "We will also strive to transfer associates to other Rite Aid locations where possible," the company said.

Persons: —, Glen, Taylor, Daniel Webster, Merrick, William Penn, Redmond, Lacey Organizations: CVS, Walgreens, Service, Pennsylvania . Rite Aid, Wall Street Journal, Rite Aid, Rite, Crenshaw, Hollywood Way, San, Niguel, Yorba, Santa, Thompson Boulevard, Ventura, Atwater, Overland, Meridian, Main, Bel, Bel Air South, Park, Main Street, Lafayette, Garfield, Garden, Ford, Flint, Farmington, Whittemore Street, New Jersey :, Marshall, Bridgeton Pike, Whiting, Pike, Huntington, Jericho Turnpike, Jeff, North Street, Cesar, Chavez, Pennsylvania, Stevenson, Bethel, Union, Allentown, Fourth Street, Fifth, Washington Lane, Street, Central Avenue, Grady, Everett Locations: California, New York, Pennsylvania, Los Angeles, Rock, Centinela, Downey, Beach, Burbank, Hollywood Way Covina, Puente, Alhambra, Oceanside, San Diego, Yorba Linda, Santa Ana, Thompson, Thompson Boulevard Oxnard, Cupertino, Santa Clara, Cruz, Bellevue, Sacramento, Boulevard Ontario, Irvine, Monterey, Alvarado Street Connecticut, Bethel, Greenwood, Delaware, Newark, Hill, Wilmington, Idaho, Boise, Maryland, Elkton, Pulaski, Baltimore, Glen Burnie, Baltimore Annapolis Boulevard Massachusetts, Webster, Main Street Michigan, Fremont, Greenville, Clinton, Macomb, Sturgis, Centerville, Clinton Township, Gratiot, Shelby Township, Dyke, Jackson, Michigan, Manistee, Garden City, North, Detroit, Farmington Hills, St, Johns, Whittemore Street Lansing, Hampshire, Merrimack, New Jersey, New Jersey : West Milford, Mantua, Bridgeton, Irvington, Somerset, Williamstown, Pike New York, Brooklyn, Shore, Merrick, East Northport, Jericho, Jericho Turnpike Medford, Patchogue, West Patchogue, Kenmore, Rochester, Flushing, Levittown, Ohio, Massillon, East New Carlisle, Dayton, Youngstown, Springfield, North Street Bellefontaine, Oregon, Portland, Kensington, Brighton, Bethel Park, Pittsburgh, Greensburg, Bethlehem, Fourth Street Philadelphia, Venango, Washington, Conshohocken, Hanover, Mechanicsburg, Erie, Abington, York, Johnstown, Ardmore, Lancaster, Pittston, Wyoming, Yardley, Chester, Street Titusville, Central Avenue Virginia, Chesapeake, Pleasant, Seattle, Graham, Renton

☆ Lansdowne to launch fund aimed at retail Nov 1 - presentations
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: 1 min

LONDON, Sept 11 (Reuters) - London-based investment manager Lansdowne Partners will launch a long-only retail version of its flagship Developed Markets Fund, according to an investment presentation seen by Reuters on Monday, in a further departure from its hedge fund past. The Ucits fund will mirror Lansdowne's flagship Developed Markets Fund and will launch November 1, the presentation said. Lansdowne initially declined to comment when contacted by Reuters. Reporting by Nell Mackenzie; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: Lansdowne, Nell Mackenzie, Amanda Cooper Organizations: Lansdowne Partners, Markets, Reuters, Thomson Locations: London

☆ UK borrowing costs drop sharply after lower-than-expected inflation print
▼ + stars: | 2023-07-19 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Bailey has been facing pressure over the extent of U.K. inflation. Bloomberg | Bloomberg | Getty ImagesLONDON — U.K. government borrowing costs fell sharply Wednesday morning as a cooler-than-expected inflation print rippled through markets. The current bank rate is 5%. The 10-year gilt yield was lower by 18 basis points at 4.152% on Wednesday morning. But data Wednesday showed the rate fell to 7.9% in June on an annual basis, from 8.7% in May.

Persons: Andrew Bailey, Bailey, BOE, Susannah Streeter, Hargreaves Lansdowne Organizations: Bank of England, Bloomberg, Getty, Bank of, Bank of England's, Reuters, U.S . Locations: India, U.K, China, Hargreaves

☆ Britain's house prices are slumping as mortgage rates soar — and there could be worse to come
▼ + stars: | 2023-07-07 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +4 min

The average U.K. property now costs £285,932 (£364,490), down from a peak of £293,992 in August 2022. The summer is likely to see price cuts become even more widespread, and we may well see house prices fall more significantly. The summer is likely to see price cuts become even more widespread, and we may well see house prices fall more significantly," she added. In its latest global housing index released Wednesday, the real estate company said U.K. house prices fell 3.1% annually in the first quarter. Mortgage rates continue to rise

Persons: Kim Kinnaird, BOE, Sarah Coles, Hargreaves, Hargreaves Lansdowne Sarah Coles, Hargreaves Lansdowne, Coles, Nathan Stirk, Sellers, Liam Bailey, Knight Frank Organizations: Bank of England, Anadolu Agency, Getty, Hargreaves Lansdowne, CNBC, Mortgage Locations: Halifax

[1/5] Britain's Camilla, Queen Consort attends a Garden Party, in celebration of King Charles' coronation, at Buckingham Palace, London, Britain. When Charles' divorced first wife, the popular, glamorous Princess Diana, died in a car crash in Paris in 1997, Camilla bore the brunt of media hostility. That's the strength of love," Camilla told Charles in the secretly recorded telephone conversation publicised in 1993. From being able to appear in public together, to marriage and last year's approval from Queen Elizabeth to Camilla taking the title Queen Consort, their success is complete. Other surveys have also indicated only a minority thought she should be Queen Camilla.

☆ Citadel accelerates hiring push in Hong Kong and London
▼ + stars: | 2023-03-17 | by ( Summer Zhen | ) www.reuters.com time to read: +2 min

HONG KONG, March 17 (Reuters) - Miami-based Citadel has kicked off 2023 with multiple senior hires in London and Hong Kong to beef up its international equities team, after the firm became the world's most profitable hedge fund in 2022, profile updates on LinkedIn show. He previously worked as head of Asian Research of Florida-based hedge fund giant Lighthouse for more than seven years. After working for UBS investment bank for more than 16 years, Keith Donan also moved to Citadel in Hong Kong this month as a senior trader. Citadel's international equities team is a multi-manager business focusing on opportunities in Europe and Asia. Led by Sean Salji in London, the team has over 80 investment professionals in London, Hong Kong, Singapore and Paris.

☆ Europe's power crisis has 'very little to do with Putin,' portfolio manager says
▼ + stars: | 2022-12-12 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +2 min

Referencing additions in solar power capacity and liquefied natural gas terminals, Lekander went on to hammer home the importance of reducing demand. "And ... assuming that these gas savings remain — because we can see it now, we have really, really cold weather, we are still drawing less than typical seasonality." The situation with power was "a bit different," however, he said. "The reason why we have a power crisis in Europe has very little to do with Putin," he said. "I would almost say that Putin actually made the situation better," he added.

☆ Lansdowne Partners: Earnings trajectories for stock markets overestimated by up to 20%
▼ + stars: | 2022-11-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLansdowne Partners: Earnings trajectories for stock markets overestimated by up to 20%Daniel Avigad, partner & portfolio manager at Lansdowne Partners, discusses the current state of European equity markets, the impact of recent U.S. CPI numbers, and the outlook for corporate earnings over the forthcoming quarter.

☆ The global stock market rally could be about to meet recession reality
▼ + stars: | 2022-11-17 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Specialist traders work inside a post on the floor of the New York Stock Exchange (NYSE) in New York City, November 10, 2022. Brendan Mcdermid | Reuterswatch now"We think those hopes will be dashed again as the Fed pushes ahead with policy overtightening. With the S&P 500 jumping 13% from its October low, stocks are even further from pricing in the recession — and earnings downgrades — we see ahead." While consensus expects earnings growth to fall from 10% at the start of 2022 to just over 4% in 2023, the world's largest investment manager expects zero growth, noting that third-quarter annual earnings growth would already be in negative territory without the huge windfalls seen in the energy sector. watch nowDownbeat viewLast Thursday's Wall Street rally was the 15th-largest single-day gain for the S&P 500 since the mid-1960s, according to Capital Economics.

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