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☆ Landslide kills at least 8 people in eastern Congo
▼ + stars: | 2022-12-31 | by ( ) www.reuters.com time to read: +1 min

Dec 31 (Reuters) - A landslide crushed at least eight people and seriously injured nine others near an artisanal mine in eastern Democratic Republic of Congo on Friday, a local official told Reuters on Saturday. Landslides are relatively common in the hilly slopes of eastern Congo where heavy rains can saturate and loosen soil. But they are more likely to occur if soil has been disturbed by mining, tree-felling or construction. In December, intense rains in Congo's capital Kinshasa caused flooding and landslides that killed around 170 people. Reporting by Crispin Kyalangalilwa; Writing by Alessandra Prentice; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

☆ Hedge Fund Bets Against Hong Kong’s Dollar Peg Have a Long History—and Little Success
▼ + stars: | 2022-12-19 | by ( Matthew Thomas | ) www.wsj.com time to read: 1 min

When Bill Ackman revealed last month that he was betting the Hong Kong dollar’s peg to the greenback would break, he became the latest in a long line of speculators who have made similar wagers. Hedge funds have made bets against the longstanding currency peg going back to the Asian financial crisis. High-profile fund managers including Crispin Odey and Kyle Bass are among those who have previously taken positions that the peg couldn’t last. Mr. Ackman’s fund, Pershing Square Capital Management, even once made a bet from the opposite side more than a decade ago. Boaz Weinstein , the founder of Saba Capital Management LP, is betting alongside him this time.

☆ Kenya deploys troops to Congo to help end decades of bloodshed
▼ + stars: | 2022-11-02 | by ( Edwin Waita | ) www.reuters.com time to read: +2 min

REUTERS/Thomas MukoyaNAIROBI, Nov 2 (Reuters) - Kenya's President William Ruto on Wednesday officially deployed troops to eastern Democratic Republic of Congo to join an East African regional force aiming to end decades of bloodshed. The seven countries of the East African Community (EAC), which Congo joined this year, agreed in April to set up a joint force to fight militia groups in Congo's east. Despite billions of dollars spent on one of the United Nation's largest peacekeeping forces, more than 120 armed groups continue to operate across large swathes of east Congo, including the M23 rebels, which Congo has repeatedly accused Rwanda of supporting. Uganda has already sent troops into Congo as part of separate deployment to chase down an Islamic State-linked armed militants, one of the warring groups in eastern Congo. "We have been working very hard to mobilise the international community to support the east African force," Kenya's defence minister Aden Duale said at the event.

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☆ Red Bull F1 team mourn death of founder Mateschitz at 78
▼ + stars: | 2022-10-22 | by ( ) www.reuters.com time to read: +2 min

Formula One - F1 - Abu Dhabi Grand Prix 2010 - Yas Marina Circuit, Abu Dhabi, United Arab Emirates - 14/11/10 (L-R) Red Bull Racing Chief Technical Officer Adrian Newey, Team Principal Christian Horner, CEO and Founder of Red Bull Dietrich Mateschitz and Red Bull Motorsport Consultant Dr Helmut Marko Mandatory Credit: Action Images / Crispin ThrustonAUSTIN, Texas, Oct 22 (Reuters) - Formula One and the championship-leading Red Bull team mourned the death of the energy drink company's Austrian founder Dietrich Mateschitz on Saturday at the age of 78. Red Bull Racing principal Christian Horner confirmed the news ahead of qualifying for the U.S. Grand Prix in Austin, Texas, where the team can clinch a fifth constructors' championship. Mateschitz bought the Ford-owned Jaguar team at the end of 2004 and turned it into Red Bull Racing, an outfit whose maverick image masked a fierce competitive spirit. The Austrian also bought the Italy-based Minardi team and renamed it Toro Rosso, the Italian for Red Bull. "He was an incredible visionary entrepreneur and a man who helped to transform our sport and created the Red Bull brand that is known all around the world."

☆ Hedge fund manager who is up 145% this year says the British pound isn't done falling after hitting record low
▼ + stars: | 2022-09-27 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

The British pound could fall further and reach parity with the US dollar, according to hedge fund manager Crispin Odey. His firm's flagship European hedge fund is up about 145%, mostly after shorting government bonds like British gilts. On Monday, the pound sterling hit an all-time low against the dollar of $1.035 but recovered somewhat to reach $1.067 on Tuesday. Odey's flagship European hedge fund is up about 145%, according to the FT, mostly after shorting government bonds like British gilts. Other firms have also profited from shorting the pound sterling.

☆ Odey's hedge fund soars 145% on bets against UK bonds - sources
▼ + stars: | 2022-09-22 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

REUTERS/Henry NichollsLONDON, Sept 22 (Reuters) - Crispin Odey, one of Britain's best-known hedge fund managers, has made a killing this year by wagering against British government bonds, with his firm's main fund up 145% in 2022 after shorting long-dated UK debt, sources said on Thursday. The UK 10-year gilt yield hit 3.392% on Thursday, its highest since July 2011, after the Bank of England lifted rates and said it would soon start selling government bonds. His fund's largest notional exposure is betting against very long dated bonds, some as far out as 2071, the source said. He is known for a volatile performance, with his fund regularly posting double-digit annual gains or losses. His flagship fund experienced its worst-ever losses of almost 50 percent in 2016, a year that Odey has since described as awful.

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