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☆ Why Chinese stocks will climb another 50% from current levels, research CEO says
▼ + stars: | 2024-10-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Chinese stocks are poised for a huge run-up in the next year, according to Renaissance Macro's Jeff deGraaf. Other notable investors have been looking to buy the dip in Chinese stocks amid continued stimulus efforts. Other traders on Wall Street have shown interest in buying the dip in Chinese equities, despite fear that Beijing's economic slowdown could stick around. Other strategists on Wall Street have made bullish calls on Chinese equities in recent weeks, with eyes on continued stimulus measures in Beijing. Goldman Sachs predicted China's stock market could rally another 20%, thanks to "more substantial policy measures" and Chinese stocks being oversold, strategists said in a note.

Persons: Jeff deGraaf, —, deGraaf, Beijing didn't, Mario Draghi, Michael Hartnett, Yuan Wei, Yuan, Goldman Sachs Organizations: Service, Macro, CSI, Bloomberg, Beijing, Investors, Bank of America, Investment Fund Management Co Locations: —, Beijing, China, Wall, Shenzhen, Hong Kong

☆ Jared Kushner's post-White House deal-making included badly timed bet on Amazon aggregator
▼ + stars: | 2024-06-14 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +16 min

Kushner started Affinity in 2021, shortly after leaving his advisory role in the White House alongside his wife, Ivanka Trump. Neumann, who was ultimately ousted from WeWork by top SoftBank execs, introduced Kushner to Unybrands early the following year. Affinity's investment in Unybrands, which hasn't previously been reported, was one of the private equity firm's earliest deals. Following a continued slide, the company laid off roughly 10% of its staff in November 2022, according to people familiar with the matter. The House Oversight Committee launched an investigation into the investment in 2022, looking into whether Kushner's financial interests influenced Trump's foreign policy.

Persons: Jared Kushner, Alex Brandon, Kushner, Weeks, Ivanka Trump, Trump, Saudi Crown Prince Mohammed bin Salman, Jamal Khashoggi, WeWork, Adam Neumann, Neumann, Unybrands, hasn't, —, Catterton, Jason Somerville, Somerville, it's, didn't, headcount, Donald Trump, Gary Cohn, Crown Prince, Mohammed bin Salman, Jonathan Ernst, Crown Prince Mohammed bin Salman, Carolyn Maloney, Ron Wyden, Kushner didn't, Ulrich Kratz, Goldman Sachs, Kratz, Kushner's, Ian Brekke, Asad Naqvi, Bret Pearlman, Roger McNamee, Max Fink, Neumann's, Brekke, Naqvi, Pearlman, Fink, Shahar Azran, Eugen Miropolski, Robyn Laguette, Mark Goldfinger, Joe Biden, Lex, Jeff Bezos, Sam Altman, Ye, I've Organizations: U.S . Capitol, Capitol, Reuters, Affinity Partners, Companies, White House, Affinity, Saudi Crown, Unybrands, WeWork, CNBC, Amazon, BlackRock, Khosla Ventures, GW Partners, Saudi Arabia's Public Investment Fund, United Arab, Saudi Arabia's, Crown, Ritz Carlton Hotel, Saudi, Republicans, Crayhill Capital Management, Barclays, Goldman, Kushner, Investments II, Blackstone, Partners, Financial Services, CNBC it's, Israeli American Council, IAC, Getty, Kanye Locations: Washington, Amazon's, South Florida, Miami, Silicon Valley, Saudi, Saudi Arabia, Unybrands, United Arab Emirates, Qatar, Riyadh, Yemen, American, Austin , Texas, Gulf, Israel

☆ Jeff Zucker Nears Major Deal to Re-enter the News Business
▼ + stars: | 2023-11-21 | by ( Michael M. Grynbaum | More About Michael M. Grynbaum | ) www.nytimes.com time to read: +2 min

After a series of financial maneuvers, RedBird IMI would assume ownership and management of The Telegraph and The Spectator. Redbird IMI said its Emirati partner would be a passive investor. Mr. Zucker declined to comment, citing the pending negotiations. Mr. Zucker does not plan to oversee day-to-day news coverage, the person said. RedBird IMI is a joint venture between RedBird Capital, a private-equity firm, and a private investment fund that Sheikh Mansour bin Zayed al Nahyan, an Emirati royal, runs.

Persons: Barclay, Rupert Murdoch, Lord Rothermere, Zucker, Sheikh Mansour bin Zayed al Nahyan Organizations: Telegraph, London’s Daily Mail, RedBird IMI, IMI, The Telegraph, RedBird, Conservative, IMI “ Locations: Abu Dhabi, United States, London

Jenny StrasburgJenny Strasburg is a reporter in London, where she writes for The Wall Street Journal about oil and gas, climate, the transition to lower-carbon energy and the people, money and politics setting the global energy agenda, in conflict with it, or left behind because of it. Jenny previously covered global investment banks in the U.S. and Europe, as well as hedge funds, trading and markets, with a focus on in-depth investigations, before pivoting to Covid-19 vaccines and geopolitical responses to the pandemic. Jenny has shared collaborative-reporting honors including the George Polk Award, Gerald Loeb Award, New York Press Club Award, National Headliner Award and Sabew Best in Business Award. She completed the Knight-Bagehot Fellowship in economics and business journalism at Columbia University before writing about private investment funds at Bloomberg News. She joined the Journal in 2008 in New York, before moving to the U.K. in 2013.

Persons: Jenny Strasburg Jenny Strasburg, Jenny, George Polk, Gerald Loeb Organizations: Wall Street, New York Press, Columbia University, Bloomberg News Locations: London, U.S, Europe, New Mexico, West Texas, Corpus Christi, San Francisco and New York, New York

☆ US SEC poised to adopt rules for $20 tln private fund industry
▼ + stars: | 2023-08-17 | by ( Douglas Gillison | ) www.reuters.com time to read: +3 min

Signage is seen at the headquarters of the U.S. Securities and Exchange Commission (SEC) in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsAug 17 (Reuters) - Wall Street's top regulator is set next week to adopt new transparency rules for the $20-trillion private investment fund industry, according to an official notice, acting on a proposal that has drawn sharp industry objections. In early 2022, the SEC proposed a set of changes for private fund advisers that would, among other things, require them to produce quarterly statements on performance and fees and submit to annual audits. Under current rules, some broker-dealers who perform proprietary trades on exchanges of which they aren't members need not join FINRA. The proposal would now require FINRA membership for such broker-dealers unless they are members of national securities exchanges and carry no customer accounts.

Persons: Andrew Kelly, Mary Jo White, Douglas Gillison, Andy Sullivan, Alistair Bell Organizations: U.S . Securities, Exchange Commission, SEC, Washington , D.C, REUTERS, Financial Industry Regulatory Authority, Democratic, Industry, Securities Industry, Financial Markets Association, Thomson Locations: Washington ,

☆ China VC slump is set to drag Asia-Pacific fundraising down to a decade low
▼ + stars: | 2023-07-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Jason Lee | ReutersBEIJING — China-focused venture capital and other private investment funds have had a slow start to the year and are set to drag down Asia-Pacific fundraising to the lowest in 10 years. Alternative assets include venture capital, but not publicly traded stocks and bonds. watch nowChina-focused venture capital funds raised $2.7 billion in the second quarter, a drop of more than 50% from the first quarter, Preqin said. That dragged down overall VC fundraising in Asia-Pacific to $4.5 billion in the second quarter, the lowest in at least five years, the report said. In China, new rules for private investment funds are set to take effect Sept. 1, with a stated goal of "guiding" venture capital investment for long-term investment in "innovative startups."

Persons: Jason Lee, Angela Lai, Preqin, Andrew J, Sherman, Brown Rudnick, Lai Organizations: Reuters, U.S, D.C, CNBC, Partners Locations: Reuters BEIJING — China, Asia, Pacific, Preqin, China, U.S, Sherman , Washington, India, Japan

☆ China sets wide-ranging rules for $2.9 trillion in private investment funds
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 9 (Reuters) - China published regulations on Sunday for the country's $2.9 trillion private investment fund sector, seeking to better protect investors and promote innovation. The wide-ranging rules apply to private investment funds with different organisational forms such as contract, company and partnership. Private investment funds in China can invest in private equity or publicly traded securities. Core rules cover the obligations of fund managers and custodians, fund raising, identifying risk levels, supervision of venture capital funds, and overall supervision and management. As of May, 22,000 private investment managers had registered with the Asset Management Association of China, managing around 21 trillion yuan in 153,000 funds, the statement said.

Persons: Premier Li Qiang, Bernard Orr, Qiaoyi Li, William Mallard Organizations: Premier, State, Xinhua, Asset Management Association of China, Thomson Locations: BEIJING, China

☆ Senator opens investigation into PGA Tour merger with Saudi-backed LIV Golf
▼ + stars: | 2023-06-12 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

PGA Tour logo during the third round of the Travelers Championship on June 24, 2017, at TPC River Highlands in Cromwell, Connecticut. WASHINGTON — A top Democratic lawmaker launched a probe on Monday into the planned merger of the PGA Tour and Saudi-backed LIV Golf. The agreement will require the approval of the PGA Tour policy board, according to a memo to players from Monahan. LIV Golf declined to comment on Blumenthal's letters. PGA Tour did not immediately respond to request for comment.

Persons: LIV Golf, Sen, Richard Blumenthal, Conn, Jay Monahan, LIV, Greg Norman, Blumenthal, Jamal Khashoggi, Monahan, CNBC's Organizations: WASHINGTON —, Democratic, PGA Tour, Saudi, Washington Post, Investigations, Private Investment Fund Locations: Cromwell , Connecticut, WASHINGTON, Saudi, American

☆ The family office for Mark Zuckerberg and Jack Dorsey backs French rival to Microsoft Excel
▼ + stars: | 2023-06-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The logo of the spreadsheet software Microsoft Excel is shown on the display of a smartphone. French business planning software startup Pigment has raised $88 million in a funding round led by ICONIQ, the private investment fund that manages the money of tech billionaires such as Mark Zuckerberg and Jack Dorsey. Pigment is best known for its business planning and forecasting platform that's designed to be more user-friendly than Microsoft's spreadsheet software Excel. As well as Microsoft, Pigment also views enterprise software tools from giants like Google, SAP and Oracle as rivals. It introduced a new service called Pigment AI last month, on the heels of heightened buzz surrounding AI and products like ChatGPT, which lets clients query data, identify patterns and automate analysis and reporting.

Persons: ICONIQ, Mark Zuckerberg, Jack Dorsey, Eleonore Crespo, Romain Niccoli, FirstMark, Klarna, Miro, Tommy Hilfiger, PVH, Crespo Organizations: CNBC, Venture, Felix Capital, Google, SAP, Oracle, behemoth, Microsoft Locations: U.S

☆ Elon Musk says he is 'deeply appreciative' of the jury that cleared him in the Tesla trial, tweeting 'Thank goodness'
▼ + stars: | 2023-02-04 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

Elon Musk was cleared Friday by a federal jury over his "funding secured" 2018 tweet to take Tesla private. "Thank goodness" the billionaire tweeted late Friday night following the verdict by a federal jury of nine individuals in the civil trial. Musk's 2018 tweet, which pushed Tesla's shareholders to launch the costly legal battle against him, read: "Am considering taking Tesla private at $420. Funding secured." Musk told jurors in January that he trusted Al-Rumayyan's verbal promises, which led to the "funding secured" tweet about taking Tesla private.

☆ Elon Musk was reportedly cleared by a federal jury's verdict that his 'funding secured' tweet in 2018 didn't harm Tesla investors
▼ + stars: | 2023-02-03 | by ( Sindhu Sundar | Grace Kay | ) www.businessinsider.com time to read: +4 min

A jury found investors failed to prove Elon Musk derailed them with his tweet that he had "funding secured" to take Tesla private, per the WSJ. Tesla investors had alleged that his public statements resulted in billions of dollars in damages. Those verbal assurances in part led him to tweet that he had "funding secured" for a take-private deal for Tesla, he told jurors last month. Musk's tweet, which he posted in August 2018, read, "Am considering taking Tesla private at $420. Porritt, the Tesla investors' attorney, had framed the stakes of the case in sweeping, existential terms, arguing that it came down to a question of whether regular investors could trust the public markets.

Musk defended his "funding secured" tweet in a securities fraud trial brought by Tesla shareholders. He testified that he sent the tweet after verbal assurances from Saudi investor Yasir Al-Rumayyan. He said that Al-Rumayyan told them that "they would do whatever it took to get it done," and that he'd been "unequivocal" about supporting the deal. Al-Rumayyan, Musk, and attorneys for Musk and Tesla shareholders did not respond to a request for comment from Insider ahead of publication. The billionaire claims he planned to take Tesla private at the time of tweeting "funding secured" in August 2018.

☆ Elon Musk's lawyers subpoena head of Saudi Arabia's $620 billion wealth fund for Tesla 'funding secured' tweets case
▼ + stars: | 2023-01-04 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Investors are suing Elon Musk over an August 2018 tweet where he claimed he had "funding secured" to take Tesla private. Musk's lawyers have subpoenaed Saudi Arabia's top wealth manager to be a defense witness in the upcoming court case. Text messages disclosed in April showed Musk raging at Yasir Al-Rumayyan for not supporting his efforts to privatize Tesla. PIF is a sovereign wealth fund – meaning that it invests on behalf of Saudi Arabia's government. Read more: Elon Musk raged at the head of the Saudi sovereign wealth fund for failing to support his bid to take Tesla private, texts show

☆ Indonesia, ADB launch first coal power plant retirement deal
▼ + stars: | 2022-11-14 | by ( David Lawder | ) www.reuters.com time to read: +4 min

[1/2] A man stands on an escalator ahead of the G20 summit in Nusa Dua, Bali, Indonesia, November 13, 2022. REUTERS/Ajeng Dinar UlfianaNUSA DUA, Indonesia, Nov 14 (Reuters) - Indonesia, the Asian Development Bank and a private power firm are teaming up to refinance and prematurely retire a coal-fired power plant, the first such project under a groundbreaking carbon emissions reduction programme, they announced on Monday. The Manila-based multilateral lender and Indonesian Finance Minister Sri Mulyani Indrawati announced the MOU with independent power producer Cirebon Electric Power in Bali on the sidelines of the G20 leaders summit. ADB also said a number financial firms and philanthropic groups have expressed interest in participating in the transaction. The ADB officials said they expect the Cirebon deal to give private investors more confidence to explore future participation, and that the development finance institution's leadership may help shield them from any negative public perceptions regarding new investments in coal financing.

☆ EXCLUSIVE Indonesia, ADB launch first coal power plant retirement deal
▼ + stars: | 2022-11-14 | by ( David Lawder | ) www.reuters.com time to read: +4 min

[1/2] A man stands on an escalator ahead of the G20 summit in Nusa Dua, Bali, Indonesia, November 13, 2022. REUTERS/Ajeng Dinar UlfianaNUSA DUA, Indonesia, Nov 14 (Reuters) - Indonesia, the Asian Development Bank and a private power firm are teaming up to refinance and retire early the first coal-fired power plant under a groundbreaking new carbon emissions reduction project that moves from concept to reality on Monday. The Manila-based lender and Indonesian Finance Minister Sri Mulyani Indrawati are set to announce the MOU with independent power producer Cirebon Electric Power on Monday in Bali on the sidelines of the G20 leaders summit. "With this announcement, we're taking the first steps in what was an ambitious project and making it real," he added. ADB also said a number financial firms and philanthropic groups have expressed interest in participating in the transaction.

☆ Chile's Copec buys last-mile firm Blue Express for $225 million
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterCopec fuel storage tanks are seen in Ventanas, Chile September 1, 2018. REUTERS/Rodrigo Garrido/File PhotoSANTIAGO, Sept 26 (Reuters) - Chile's Empresas Copec (COPEC.SN) has entered the customer delivery services business by acquiring last-mile logistics firm Blue Express for about $225 million, the country's largest industrial group said on Monday. Copec subsidiaries signed an agreement with Private Investment Fund BX and Blue Express to purchase 100% of Blue Express' shares, Copec said in a filing to Chile's regulator. Register now for FREE unlimited access to Reuters.com RegisterBlue Express did not immediately respond to a request for comment. Register now for FREE unlimited access to Reuters.com RegisterReporting by Natalia Ramos; Writing by Kylie Madry; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

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