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☆ Salesforce employees fear deeper cuts now that a second activist investor has a stake. Elliott, the world's most feared hedge fund, has confirmed it wants changes.
▼ + stars: | 2023-01-23 | by ( Ashley Stewart | Ellen Thomas | ) www.businessinsider.com time to read: +3 min

Feared activist investor Elliott Management now has a multibillion-dollar position in Salesforce. This is the company's second activist investor after Starboard Value disclosed a significant stake in October. Elliott Management — the world's most feared activist investor — now has a multibillion-dollar position in Salesforce, according to a person with direct knowledge of the matter, and some employees worry Elliott's attention could lead to further layoffs. Elliott is Salesforce's second activist investor after Starboard Value disclosed a significant stake in Salesforce in October. Activist investor firms such as Elliott "are tough," another said.

☆ Meet Jesse Cohn, the hedge fund wunderkind building a campaign on Salesforce
▼ + stars: | 2023-01-23 | by ( Casey Sullivan | Bradley Saacks | ) www.businessinsider.com time to read: +10 min

One of the key players behind the campaign is 42-year-old Jesse Cohn, Paul Singer's right-hand man. Hedge fund Elliott Management has taken a multi-billion dollar stake in Salesforce, as the tech company deals with layoffs and a management shake-up. And Cohn, one of Elliott's chief agitators, has emerged as quarterback, announcing his respect for co-CEO Marc Benioff in a statement. "He said, 'Hey, let me talk to you,'" Knowles told BI in 2019. He had the files laid out on a conference-room table when the board met with Cohn in Elliott's New York office.

☆ Activist investors in Salesforce spell good news for shareholders like us
▼ + stars: | 2023-01-23 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +4 min

Pressure from activist investors is mounting at Club holding Salesforce (CRM). Elliott's investment in Salesforce comes roughly three months after activist investor Starboard Value disclosed a position in the company. Moreover, Jim Cramer has said, at least two other investors with activist backgrounds, including Jeff Ubben , have taken a stake in Salesforce. If these high-profile investors thought Salesforce was irreparably damaged company, whose tech was at a competitive disadvantage, they may have looked elsewhere. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ NFL roundup: Patriots fumble away game to Raiders on last play
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +9 min

Carr completed 20 of 38 passes for 231 yards, three touchdowns and one interception. Bengals 34, Buccaneers 23Joe Burrow threw four touchdown passes to help Cincinnati overcome a 17-point deficit and upend host Tampa Bay for its sixth straight win. Chicago regained possession trailing 17-13 with 8:25 to play after Jake Elliott's 38-yard field goal attempt bounced off the right upright. Saints 21, Falcons 18Andy Dalton threw two touchdown passes and Taysom Hill threw another one as host New Orleans defeated Atlanta. Dalton completed 11 of 17 passes for 151 yards and connected with Juwan Johnson for touchdowns of 19 and 22 yards.

☆ LME had regulatory obligation to be able to cancel nickel trades in March, filings say
▼ + stars: | 2022-11-29 | by ( ) www.cnbc.com time to read: +1 min

Traders, brokers and clerks on the trading floor of the open outcry pit at the London Metal Exchange in London, U.K., on Monday, Feb. 28, 2022. The London Metal Exchange (LME), battling a combined $472 million lawsuit from U.S. hedge funds Elliott Associates and Jane Street Global Trading, had a regulatory obligation to be able to cancel nickel trades in March, it said in court filings. "All the actions taken on 8 March were lawful and made in the interest of the market as a whole. Elliott Associates and Jane Street declined to comment. But the exchange counters that its rulebook gave it clear and specific power to suspend the market and cancel existing trades.

SYDNEY, Nov 28 (Reuters) - When Melbourne barista Melinda Elliott had to cut back on casual work shifts this year, she asked her buy-now, pay-later (BNPL) provider, Afterpay, to lower her credit limit. "There was no email to say, 'your credit limit's gone up again'; it was out of nowhere," said Elliott by phone. The absence of interest charges has exempted them from consumer credit regulation, and the sector's business has grown strongly during an online shopping frenzy spurred by COVID-19 stimulus payments and ultra-low interest rates. If they come under regular consumer credit regulation, they will also lose their main competitive advantages. The Australian Securities and Investments Commission, which oversees the Credit Act, told Reuters it was "supportive of the BNPL sector being subject to regulation".

☆ UK court says Elliott, Jane Street can sue LME for cancelled nickel trades
▼ + stars: | 2022-10-10 | by ( Pratima Desai | ) www.reuters.com time to read: +2 min

LONDON, Oct 10 (Reuters) - A British court has granted permission for U.S.-based hedge fund Elliot Associates and Jane Street Global Trading to sue the London Metal Exchange (LME) for cancelling nickel trades in March, a court document showed. Elliott and Jane Street are demanding damages of $456.4 million and $15.34 million respectively, after the nickel price topped a record $100,000 per tonne on March 8, prompting the LME's suspension of nickel trading and voiding of trades. The nickel trading episode has been the biggest crisis to hit the world's oldest metals forum in decades. "The LME therefore continues to consider that Elliott's and Jane Street's grounds for complaint are without merit, and the LME will defend any judicial review proceedings vigorously." Elliott Associates declined to comment and Jane Street did not immediately respond to a request for comment.

Chicago-based Framtiden Partnerships, a Swedish Match shareholder for nearly two decades, told Reuters on Wednesday that it opposes Philip Morris' (PMI) proposed takeover of the Stockholm-based company. According to Euromonitor International, Swedish Match controls about half the world's market for snus - a Swedish-style snuff that is moist and smoke-free. Swedish Match has a fragmented ownership base, he said, making it difficult to get a clear overview of how many will accept the deal. 'THREE SHAREHOLDER CAMPS'John Hempton, co-founder of Sydney-based Bronte Capital, is another Swedish Match shareholder who hopes the deal will fall through. The largest shareholders of Swedish Match, which include Wellington Management, Capital Group, BlackRock and Vanguard, all declined to comment on the deal.

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