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Search resuls for: "Soros Fund Management"


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☆ Vice Media files for bankruptcy to enable sale to lenders including Soros and Fortress
  + stars: | 2023-05-15 | by ( Elliot Smith | ) www.cnbc.com   time to read: +2 min
Once a digital media darling, Vice Media Group on Monday filed for bankruptcy protection after years of financial troubles. Vice is one of several digital media and technology firms forced to restructure this year amid a sluggish economy and weak advertising market. To facilitate its sale, Vice filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York. The consortium's bid includes a commitment of $20 million in cash to enable Vice's operations to continue throughout the sale process. Vice Co-CEOs Bruce Dixon and Hozefa Lokhandwala said in a statement that the sale process will "strengthen the Company and position VICE for long-term growth."
☆ Einride: 2023 CNBC Disruptor 50
  + stars: | 2023-05-09 | by ( Cnbc.Com Staff | ) www.cnbc.com   time to read: +2 min
Swedish startup Einride is among those looking to swap out the diesel engines that currently dominate the industry in favor of fleets of autonomous electric vehicles . Just as electric vehicles are gaining popularity among consumers, so too are they catching on in the commercial trucking realm. Before Tesla, Renault Trucks, owned by Volvo, and Daimler, also produced and delivered electric heavy-duty trucks. Only 0.1% of heavy-duty trucks sold in Europe were zero-emission in 2021, according to BloombergNEF estimates. Electric trucks are also facing competition from hydrogen-powered vehicles, which boast quick refueling and a longer driving range, unlike electric vehicles.
☆ Vice staffers fear salary and severance payments could be impacted as the company moves closer to bankruptcy
  + stars: | 2023-05-09 | by ( Claire Atkinson | ) www.businessinsider.com   time to read: +4 min
Vice is expected to file for bankruptcy, and some staffers fear salary or severance payments could be affected. The WGA East represents the Vice Union and said it will work to ensure members receive "everything owed." Vice has cut dozens of staff along with canceling its cable show "Vice News Tonight." Last month Vice said it was axing "Vice News Tonight," which once aired on HBO but shifted in 2019 to Vice's own cable channel, Vice TV. A second Vice insider said: "Hundreds of people lose their jobs and Shane gets his back?
☆ Vice Media Nears Deal for $400 Million Sale Out of Bankruptcy
  + stars: | 2023-05-05 | by ( Alexander Saeedy | Jodi Xu Klein | ) www.wsj.com   time to read: 1 min
Vice Media is nearing a deal for senior lenders including Fortress Investment Group and Soros Fund Management to acquire the troubled media company out of bankruptcy at a valuation of around $400 million, according to people familiar with the matter. Nearly every Vice stockholder—including backers such as private-equity firm TPG Group, Sixth Street Partners and media mogul James Murdoch—would be wiped out under the proposed reorganization, the people familiar with the matter said. Outstanding debts held by TPG and Sixth Street would also be impaired as part of the plan, the people said. The Murdoch family is a major shareholder in Journal parent News Corp .
☆ George Soros' fund snapped up Tesla stock, boosting its stake by nearly 50% as Elon Musk's Twitter antics weighed on the automaker's shares
  + stars: | 2023-02-14 | by ( George Glover | ) www.businessinsider.com   time to read: +2 min
Billionaire investor George Soros's family office loaded up on Tesla stock in the last quarter of 2022. Soros Fund Management grew its stake in the EV maker by nearly 50%, a SEC filing showed this week. Concerns about CEO Elon Musk's fueled a Q4 selloff in Tesla, but its share price has risen 58% in 2023. Soros Fund Management bought about 42,000 Tesla shares in the three months ending December 31, lifting its stake by 47% to around 132,000 shares, according to a 13F filing published Monday. Soros Fund Management also snapped up 500,000 call options on ARK's Innovation ETF – the Cathie Wood-managed fund that tumbled in 2022 but lists Tesla as its biggest holding.
☆ Soros Fund adds First Horizon, Horizon Therapeutics and bond ETF
  + stars: | 2023-02-14 | by ( Carolina Mandl | ) www.reuters.com   time to read: +2 min
Soros disclosed a $325.3 million stake, or 2.9 million shares, in biotech firm Horizon Therapeutics (HZNP.O), which was bought by Amgen (AMGN.O) in December for nearly $28 billion. The firm also bought 2.8 million shares, valued at $90 million, in home health assessment firm Signify Health (SGFY.N). It added $209.1 million, or 8.5 million shares, in Memphis-based financial services company First Horizon, which was acquired by Toronto-Dominion Bank (TD.TO) roughly a year ago for $13.4 billion. Shares in Zoom Technologies Inc (ZTNO.PK) and Airbnb Inc (ABNB.O) were sold, while it reduced its holdings in Amazon.com (AMZN.O), by 54.5%, to 901 million shares. The regulatory filing also showed Soros bought $255 million in an investment grade corporate bond ETF.
☆ Top hedge funds earned sharply less for clients in 2022, LCH data shows
  + stars: | 2023-01-23 | by ( Svea Herbst-Bayliss | ) www.reuters.com   time to read: +2 min
Jan 23 (Reuters) - The 20 best performing hedge fund managers earned $22.4 billion for investors in 2022, marking their slimmest gains since 2016 as many firms, including Tiger Global Management, struggled with slumping financial markets, LCH Investments data show. The top 20 managers, led by Ken Griffin's Citadel, Bridgewater Associates and D.E. Overall, hedge funds lost $208 billion in 2022 for clients, marking the biggest single-year decline since 2008, when they lost $565 billion, LCH data showed. Hedge funds, which were jointly managing $3.3 trillion on Dec. 31, 2022, according to eVestment data, often promise to outperform, especially when markets are stumbling. Shaw, Millennium Management, Soros Fund Management, Elliott Management, and Viking Global Investors also ranked in the top 10.
☆ The Davos elite likes to make bold predictions. But they don't always get them right
  + stars: | 2023-01-13 | by ( Silvia Amaro | ) www.cnbc.com   time to read: +4 min
George Soros, billionaire and founder of Soros Fund Management, at the World Economic Forum in Davos, Switzerland, in Jan. 2016. It's an annual meeting where a global elite of business leaders, politicians and economists make bold predictions and try to set the agenda for the year ahead — but they don't always get it right. Nuclear warBillionaire investor George Soros warned during a speech at Davos in 2018 that the United States could be heading for a nuclear war with North Korea. "The United States is set on a course towards nuclear war by refusing to accept that [North] Korea has become a nuclear power," he said at the time. So far, the United States has avoided any military conflict with North Korea.
☆ 10 money managers who quietly control the vast fortunes of Jeff Bezos, Sergey Brin, the Waltons, and other big-name billionaires
  + stars: | 2022-12-27 | by ( Hayley Cuccinello | ) www.businessinsider.com   time to read: +24 min
Many über-rich people don't outsource their wealth — they hire their own chief investment officers. He left SAC in 2005 for Dune Capital Management, but stayed in touch with Steve during his five-year term at the investment firm. Andrew oversees CPV's portfolio, which primarily comprises direct private investments such as Collectors Universe, a collectibles-authentication company, and the New York Mets. In 2011, Wildcat Capital Management was launched with Potter as president and chief investment officer. Since November 2021, Carland has also served as the interim chief investment officer for Builders Vision's asset arm.
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