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☆ Ukraine eyes $15 billion programme after meeting IMF's Georgieva
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +2 min

Feb 20 (Reuters) - Ukraine is hoping to clinch a multi-year support programme of at least $15 billion, Prime Minister Denys Shmyhal said on Monday after meeting the head of the International Monetary Fund. "We are looking for the launch of a new multi-year support programme valued at more than $15 billion." Ukraine hopes a full-fledged programme with the IMF will prompt other donors to step up. Kyiv needs to cover a budget deficit of $38 billion this year and has secured 18 billion euros ($19.3 billion) from the EU and $10 billion from the United States. The video posted on Zelenskiy's account showed the president offering Georgieva thanks for support "from the first days of Russia's full-fledged invasion".

☆ Disney clash with activist Peltz will have sequel
▼ + stars: | 2023-02-16 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +7 min

NEW YORK, Feb 16 (Reuters Breakingviews) - Activist investor Nelson Peltz often plays a long game. Disney Chief Executive Bob Iger unveiled $5.5 billion of cost cuts last week when the $200 billion theme-parks-to-streaming company released fourth-quarter earnings. "The proxy fight is over,” a spokesperson for his outfit Trian Fund Management told Reuters. Could Peltz still end up on the Disney board? "The proxy fight is over.

☆ 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.

☆ Warburg Pincus moves closer to buying a stake in Chinese fund Zhong Ou
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +2 min

Italian banking group Intesa Sanpaolo (ISP.MI) disclosed in its 2021 annual report that its board had approved the sale of a 23.3% stake in Zhong Ou to Warbug Pincus. The planned 23.3% stake sale to Warburg Pincus was confirmed on Monday by a source familiar with the transaction. The CSRC did not say how big a stake Warburg Pincus will buy in Zhong Ou, which has more than 350 billion yuan ($51.3 billion) of assets under management (AUM). In the regulatory feedback, the CSRC asked Warburg Pincus to explain how it would support Zhong Ou's development. The regulator also requested further proof from Warburg Pincus that it's a leading global player with good international reputation and performance.

☆ Peltz ends Disney proxy fight as Iger launches restructuring
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] Nelson Peltz founding partner of Trian Fund Management LP. speak at the WSJD Live conference in Laguna Beach, California October 25, 2016. REUTERS/Mike Blake/File PhotoFeb 9 (Reuters) - Activist investor Nelson Peltz called off his bid for a seat on the board of Walt Disney Co (DIS.N) on Thursday after Chief Executive Bob Iger revealed a plan to restructure and cut costs. Peltz's Trian Fund, after Third Point's Daniel Loeb, pushed the company to make changes after the pandemic crushed its parks business and forced it to increase expenditure to weed out competition in the streaming industry. Here is what happened since Iger retired in 2020:Reporting by Akash Sriram and Tiyashi Datta in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

[1/3] The signage at the main gate of The Walt Disney Co. is pictured in Burbank, California, May 7, 2012. This is a win for all shareholders," a spokesperson for Peltz's Trian Fund Management said on Thursday. The decision, first reported by CNBC, came only hours after Disney reported earnings that topped Wall Street expectations and Iger outlined a corporate restructuring that addresses many of Peltz' criticisms. Disney's stock price climbed 3.6% in Thursday trading. "Bob Iger has a long, strong track record which provides confidence he will manage this transition for Disney."

[1/3] The signage at the main gate of The Walt Disney Co. is pictured in Burbank, California, May 7, 2012. This is a win for all shareholders," a spokesperson for Peltz's Trian Fund Management said on Thursday. The decision, first reported by CNBC, came only hours after Iger announced earnings that topped Wall Street expectations and announced a corporate restructuring that addresses many of Peltz' criticisms. Trian owns a nearly $1 billion stake in Disney and had criticized the company for a bungled succession planning, overpaying for new assets and runaway costs. Reporting by Tiyashi Datta in Bengaluru; Editing by Devika Syamnath, Mark Porter and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Bob Iger's Disney revamp could keep critic Peltz 'at bay'
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

Feb 9 (Reuters) - Walt Disney Co (DIS.N) CEO Bob Iger dazzled Wall Street on Wednesday with sweeping changes and billions of dollars in cost cuts, and some analysts are convinced that will be enough to sway its harshest critic - activist investor Nelson Peltz. Under the restructuring, Disney is cutting 7,000 jobs and reorganizing into three divisions - an entertainment unit encompassing film, television and streaming, a sports-focused ESPN unit and one with Disney parks, experiences and products. "Iger's early steps seem likely to keep Peltz at bay, which the company dearly wants. Peltz could have an opening if Disney slips up," said Barton Crockett, analyst at Rosenblatt Securities. "We are pleased that Disney is listening," a Trian spokesperson said.

☆ Disney’s Shake-Up Resets the Stage
▼ + stars: | 2023-02-09 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Even Robert Iger can only do so much in six weeks. He did manage to make Nelson Peltz ‘s job a little more difficult in that time, though—with the help of all those grown-ups in mouse ears. Disney ‘s fiscal first-quarter results reported Wednesday afternoon were the company’s first since Mr. Iger’s return to the corner office. That happened about halfway through the quarter, following a disastrous earnings report and historic stock selloff sealed the fate of his handpicked successor. The most recent results are also the first since activist Trian Fund Management launched a proxy challenge, seeking a board seat for a founding partner, Mr. Peltz.

Disney issued a statement applauding Peltz's decision to end a board challenge which it called a "distraction. 'FIRST PHASE' IN DISNEY'S TRANSFORMATIONFor Peltz's Trian Fund Management the board challenge appears to have paid off with an estimated 20% gain on his investment. Analysts said Peltz made a reasonable request for one board seat and to join the 12-member board himself. Peltz appeared on CNBC on Thursday to announce his proxy fight with Disney was over. "Bob Iger has a long, strong track record which provides confidence he will manage this transition for Disney."

☆ Jim Cramer says Disney stock has more upside thanks to Bob Iger’s turnaround plan
▼ + stars: | 2023-02-09 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Thursday said that he's bullish on Disney after the company announced a robust restructuring and cost-cutting plan. Disney announced a plan to lay off 7,000 employees, restructure the company and cut $5.5 billion in costs on Wednesday during its first-quarter earnings conference call. Activist investor Nelson Peltz told CNBC on Thursday that he's satisfied with Iger's turnaround plan for Disney and that Trian Fund Management's proxy fight with the media giant is over. Cramer, who has harshly criticized former CEO Bob Chapek's performance, said that Iger has changed the company's narrative into one that can execute its goals. "That's a huge sign of confidence from management," Cramer said.

☆ Activist investor Nelson Peltz declares Disney proxy fight is over after Iger unveils restructuring
▼ + stars: | 2023-02-09 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +1 min

Nelson Peltz declared his proxy fight with Disney was over Thursday after the entertainment giant unveiled a vast restructuring plan, cost cuts and 7,000 layoffs. "Now Disney plans to do everything we wanted them to do," Peltz told Jim Cramer on CNBC's "Squawk on the Street" on Thursday. "The proxy fight is over," said Peltz, who heads Trian Fund Management. Earlier in January Trian launched a proxy fight with Disney, pushing for Peltz to gain a seat on the board. Disney is also restructuring its business into three divisions, and will focus on bringing its streaming business to profitability by 2024.

☆ Meet the family of billionaire Nelson Peltz: From Brooklyn Peltz Beckham's wife to a former pro-hockey player, here's everything we know about his 10 kids
▼ + stars: | 2023-02-09 | by ( Jordan Hart | Britney Nguyen | Aaron Mok | ) www.businessinsider.com time to read: +2 min

Nelson PeltzNelson Peltz's eight children have gone on to star in films, pursue careers in business, and play ice hockey. Heidi Gutman/CNBC via Getty ImagesBefore 80-year-old Nelson Peltz amassed his $1.4 billion net worth or family of 10 children, he was a college dropout working for his family business. Peltz is now married to the former model Claudia Heffner Peltz, who has mostly kept out of the limelight during marriage. Recently, Peltz made headlines for suing the planners of his daughter Nicola's 2022 wedding to Brooklyn Beckham, Insider's Claire Atkinson reported. Insider did not receive responses to requests for comment from Nelson Peltz's company, Trian Fund Management, Brad Peltz, and a representative for Will Peltz and Nicola Peltz Beckham.

☆ With Bob Iger back at Disney, 'you don't need Nelson Peltz,' says 'Fast Money' trader Steve Grasso
▼ + stars: | 2023-02-08 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

That showed activist investor Nelson Peltz may not be needed at Disney, said Steve Grasso, CEO of Grasso Global on CNBC's " Fast Money " Wednesday evening. "And with him there … you don't need Nelson Peltz. If he was not there, then you need Nelson Peltz in the room." Metropolitan Capital Advisors' Karen Finerman also said on "Fast Money" that the message to Disney shareholders was clear. Other top traders on "Fast Money" disagreed, saying the company will continue to face challenges.

☆ Disney investors await CEO Iger's revival plan with results on tap
▼ + stars: | 2023-02-07 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +3 min

LOS ANGELES, Feb 7 (Reuters) - Walt Disney Co (DIS.N) CEO Bob Iger is expected to discuss a turnaround plan on Wednesday, when the media company delivers its first quarterly results since the return of the executive who built the modern incarnation of Disney. "This is the right place to do it. It also endorsed Iger's leadership, adding that Disney generated a shareholder return of 554% under his previous tenure as CEO. That change resulted in the departure of Kareem Daniel, head of the Disney Media and Entertainment Distribution group created by Iger's predecessor, Bob Chapek, to consolidate budgeting and distribution for the studio's content. Analysts polled by FactSet estimate Disney+ will have 163 million subscribers, down modestly from the previous quarter.

☆ Time to buy the tech rally? Wall Street pros weigh in with their top stock picks
▼ + stars: | 2023-02-06 | by ( Zavier Ong | ) www.cnbc.com time to read: +6 min

Investors are flocking back into tech, after shunning the sector for the better part of 2022 amid broad risk-off sentiment. The tech-heavy Nasdaq Composite has been the best-performing Wall Street index in 2023, having gained about 15.6% since the start of the year. This could be the rebound," Wang told CNBC's "Street Signs Asia" on Thursday. " Some 87% of analysts covering the stock rate it a "buy," according to FactSet data, and give it average upside of 10.3%. Christopher Crawford, managing partner at Crawford Fund Management, told CNBC's "Street Signs Asia" on Tuesday that his firm is overweight tech "for the first time in our 10-year history."

☆ Unilever's new CEO will inherit a company in flux
▼ + stars: | 2023-02-05 | by ( Alex Bitter | Ellen Thomas | ) www.businessinsider.com time to read: +9 min

Two of the five divisions remain focused on food products, an area that CEO Jope said Unilever considered spinning off. Food brands like Ben & Jerry's and Hellmann's would have become a separate company. Unilever's decision last year to spin off its tea business into a new company, Ekaterra, left many workers inside Unilever's food division nervous, the former employee said. One former Unilever executive pointed to Fernando Fernandez, who will assume the top job at the company's new beauty and wellbeing division. Fernandez has been Unilever's executive vice president for Latin America since 2019 and held other jobs with the company in the region before that.

Add to that mix the classic 60/40 portfolio model — a standard investing benchmark — that helps investors achieve that last point. Below, CNBC Select spoke to two financial professionals about how novices can put a 60/40 portfolio strategy in action. Once you're ready to invest, here are four simple ways to start putting money into a 60/40 portfolio. Vanguard Learn More Minimum deposit and balance Minimum deposit and balance requirements may vary depending on the investment vehicle selected. Wealthfront Learn More Minimum deposit and balance Minimum deposit and balance requirements may vary depending on the investment vehicle selected.

☆ Activist Investor Nelson Peltz Steps Up Pressure on Disney Board
▼ + stars: | 2023-02-02 | by ( Robbie Whelan | Theo Francis | ) www.wsj.com time to read: +1 min

Activist investor Nelson Peltz escalated his criticism of the Walt Disney Co.’s board and advocated for the removal of director Michael B.G. Froman , blaming him for backing governance and compensation decisions that Mr. Peltz says have harmed the company. Disney said Thursday that it didn’t support Mr. Peltz or his son, Matthew, named as an alternate nominee for Mr. Peltz, joining its board. “Neither Mr. Peltz nor his son offer skills or experience additive to the Disney board that replace the decadeslong experience of Mr. Froman,” Disney said. Mr. Froman didn’t respond to a request for comment.

☆ Jupiter declines to comment on cancelled Adani share offering
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: 1 min

LONDON, Feb 2 (Reuters) - Jupiter Fund Management (JUP.L), an anchor investor in Adani Enterprises' (ADEL.NS) cancelled $2.5 billion share offering, told Reuters on Thursday it had no immediate comment on the deal being withdrawn. Jupiter was notable as being the sole UK-listed fund manager to back the share offering for the subsidiary of embattled Indian conglomerate Adani Group, which has lost some $100 billion in market capitalisation in recent days following a short seller's report. Adani Enterprises its $2.5 billion stock offering on Wednesday. Reporting by Lawrence White; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Peltz's Trian seeks to rally Disney shareholders against board director Froman
▼ + stars: | 2023-02-02 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

REUTERS/Fred ProuserNEW YORK, Feb 2 (Reuters) - Activist investor Nelson Peltz's hedge fund Trian Fund Management wrote to Walt Disney Co (DIS.N) shareholders on Thursday to make the case for replacing the media and entertainment conglomerate's board director Michael Froman. Trian, which owns a roughly $1 billion stake in the home of Mickey Mouse, has asked Disney shareholders to drop Froman — a former U.S. Trade Representative — from the company's 12-member board and elect Peltz instead. Trian did not spell out in the letter why it had picked Froman to target among the Disney directors, but suggested that Peltz was more qualified to serve. In the letter, Trian also directed its criticism at the full Disney board, blaming it for a 44% drop in Disney's stock last year. A shareholder vote to decide on the composition of Disney's board has not yet been set but is expected in the spring.

☆ A major Alphabet investor said the company should cut even more jobs and address 'excessive' pay in the wake of mass layoffs
▼ + stars: | 2023-01-25 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Alphabet investor TCI is urging the company to "go further" in cutting jobs and reducing spend. A letter from TCI to CEO Sundar Pichai said "excessive employee compensation" should be addressed. The Children's Investment Fund Management wrote a letter to Alphabet and Google CEO Sundar Pichai on January 20 — the day Google announced mass layoffs affecting roughly 6% of its workforce — asking him to address "excessive employee compensation." The November letter, also signed by Hohn, said its shares in the company were worth more than $6 billion. Representatives for Alphabet and TCI Fund Management did not respond to Insider's request for comment.

☆ 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.

☆ Clash of the titans: Billionaire activist investors are putting pressure on top CEOs who were once thought untouchable
▼ + stars: | 2023-01-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

The bear market in stocks last year has opened up a new window for aggressive activist investors. Once high-flying tech stocks and beloved brand names are subject to unfamiliar pressure from billionaire activists. Marc Benioff of Salesforce and Bob Iger of Disney are the latest high-profile CEOs to face pressure. Nelson Peltz of the Trian Fund and Paul Singer of Elliott Management recently launched activist investor campaigns against Disney and Salesforce, respectively. Activist campaigns targeting firms of this size and caliber are uncommon, but their struggling share price has painted a target on management's back.

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