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☆ How shadow bankers are already emerging as winners in the SVB collapse
▼ + stars: | 2023-03-14 | by ( Rebecca Ungarino | Dakin Campbell | ) www.businessinsider.com time to read: +6 min

But the momentum already behind the secretive private credit space has picked up — fast. He was witnessing a new willingness from borrowers to turn first to private credit, a market that has grown yet generally remains more opaque than its public-market counterparts. "Borrowers used to look at these banks and say, 'Look, the banks, they've been around forever. The private lenders say that privacy is all part of the pitch. Money managers smell opportunityThe momentum already behind the secretive private credit space has gained steam as the SVB collapse pushes companies to consider alternate sources of debt and, on the other side, private credit managers seek out new targets.

The sale means UK startups and investors will be able to access their money. Like its US parent, SVB UK mostly served tech startups and their investors. Insider understands from a person close to SVB UK that there is some internal frustration at the bank run. The feeling is that SVB UK was sold off simply because of groupthink. That evening, it looked feasible that the government would allow SVB UK to collapse.

☆ Keep an eye on banks, economic data, Jim Cramer says
▼ + stars: | 2023-03-09 | by ( Rohan Goswami | ) www.cnbc.com time to read: +1 min

Frothy markets and banking tumult cast a pallor over the broader markets, but investors should keep an eye on economic data and the Federal Reserve's continued rate hikes, CNBC's Jim Cramer said on Thursday. Sharp declines in Silvergate Bank and SVB Financial shares came as the broader banking sector underwent a major collapse, Cramer said. Cramer pinned the collapse on a victory from the Fed and a general flight from three different spaces: commercial real estate, venture slowdown and crypto. A flurry of downgrades prompted concern about a couple of big commercial real estate names, Cramer said, including SL Green and Vornado Realty Trust . Cooling and weaker numbers for those reports, respectively, could be a boon for financials and for tech stocks, Cramer said.

☆ Desantis' Disney World oversight board holds initial meeting
▼ + stars: | 2023-03-08 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDesantis' Disney World oversight board holds initial meetingFormer U.S. Senator Heidi Heitkamp (D-N.D.), SkyBridge Capital's Anthony Scaramucci and entrepreneur Vivek Ramaswamy, who's running for president, discuss Florida Gov. Ron Desantis' ongoing battle with Disney.

☆ Recession worries used to be bad for bank stocks. Not anymore
▼ + stars: | 2023-03-08 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

London CNN —Investors are bucking tradition this year by piling into big bank stocks just as major economies are expected to either slow down or fall into recession. Fed Chair Jerome Powell said Tuesday that interest rates would rise more than people anticipated. European bank stocks have risen particularly sharply in the past six months. “As those worries have unwound, European banks have done particularly well.”No ‘hidden skeletons’But European economies are still fragile. When economic activity slows down, bank stocks are typically among those hit hardest.

☆ GE to slash stake in aircraft lessor AerCap
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +1 min

March 7 (Reuters) - AerCap Holdings NV (AER.N) said on Tuesday a unit of General Electric Co (GE.N) is selling 18 million shares, worth $1.12 billion, of the aircraft lessor through an underwritten public offering. In addition, AerCap agreed to repurchase $500 million worth of its shares from GE, its largest shareholder. The Boston-based conglomerate currently has a 45.3% stake in AerCap, according to Refinitiv data. The conglomerate, through its unit GE Capital US Holdings Inc, expects to grant the underwriters a 30-day option to purchase up to 2.7 million additional ordinary shares. GE said in March 2021 it will "over time" sell its stake after AerCap bought its aircraft leasing unit in a $30 billion deal.

Bitcoin futures ETFs track bitcoin futures contracts, or agreements to purchase or sell bitcoin at a certain price on a specified date. A spot bitcoin ETF would track bitcoin's underlying market price. Proponents say a spot bitcoin ETF would give investors exposure to bitcoin without directly buying it. He told Reuters in January that Grayscale would appeal the case if the court backed the SEC's decision to reject its bitcoin ETF proposal. Grayscale Bitcoin Trust, launched in 2013, has $14 billion in assets under management, according to Grayscale’s website.

Bitcoin futures ETFs track bitcoin futures contracts, or agreements to purchase or sell bitcoin at a certain price on a specified date. A spot bitcoin ETF would track bitcoin's underlying market price. Proponents say a spot bitcoin ETF would enable investors to gain exposure to bitcoin without directly buying it. The agency has denied more than a dozen spot bitcoin ETF applications, all of which it said lacked surveillance-sharing agreements to detect potential manipulation. Grayscale Bitcoin Trust, launched in 2013, has $14 billion in assets under management, according to Grayscale’s website.

For 100 of those applicants, the Energy Department has hired staff to provide business development advice and "intense mentorship," Jigar Shah, head of the Energy Department's Loan Programs Office, told Reuters on the sidelines of the CERAWeek energy conference in Houston. Given the rapidly evolving technologies in the clean energy space, Shah said the department might shorten loan terms. If we think that that's a risk, then we just change the terms of the loan," Shah said. The LPO office would like more applications from electric utilities and oil and gas companies for projects designed to reduce emissions, as well as geothermal companies, Shah said. Commercial debt markets are "less interested in the more innovative approaches that (wind companies) are taking.

☆ Exclusive: Activist Legion Partners nominates 4 directors at Primo Water -letter
▼ + stars: | 2023-03-06 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

NEW YORK, March 6 (Reuters) - Activist investor Legion Partners Asset Management is pushing for four new directors to join Primo Water Corp's (PRMW.N) board, arguing they could help the water company's share price triple over five years. Legion nominated experts in water delivery, beverage operations, marketing and capital allocation as director candidates for election to the U.S.-Canadian company's 10-person board to help reverse "chronic underperformance," according to a letter seen by Reuters. "Substantial shareholder-driven change in the boardroom is long overdue and necessary at the 2023 Annual Meeting in order for Primo to achieve its full potential," Legion's managing directors, Chris Kiper and Ted White, wrote to fellow Primo Water shareholders. Legion, which helped place directors onto boards at Bed Bath & Beyond and Kohl's, said it owns a 1.5% stake in Primo Water and has been an investor in the past. Primo Water offers home and office water delivery, water exchange, where customers return their empty water jugs and buy new ones at retailers, and water refill, its most affordable offering, where customers refill jugs themselves.

☆ Anthony Scaramucci says the U.S. needs stronger leadership and better direction
▼ + stars: | 2023-03-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnthony Scaramucci says the U.S. needs stronger leadership and better directionAnthony Scaramucci, Skybridge Capital founder, says Donald Trump is unlikely to win the elections, but "things happen in America that are unexpected."

☆ If Donald Trump were president during Russia's invasion of Ukraine, Vladimir Putin’s forces would be in Poland right now, Scaramucci says
▼ + stars: | 2023-03-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIf Donald Trump were president during Russia's invasion of Ukraine, Vladimir Putin’s forces would be in Poland right now, Scaramucci saysAnthony Scaramucci, founder of Skybridge Capital, says that Russian President Vladimir Putin's forces would be in Poland right now, if Donald Trump were U.S. president.

☆ Warren Buffett blasted earnings manipulation as 'disgusting' in his annual letter. Here's what he meant, and how GE legend Jack Welch ties into it.
▼ + stars: | 2023-02-28 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Warren Buffett blasted earnings manipulation as "disgusting" and "one of the shames of capitalism." Former GE CEO Jack Welch specialized in using legal but creative accounting to beat forecasts. Look no further than Jack Welch, the late CEO of General Electric, for insights into the legal but controversial practice. He made it his mission to beat Wall Street's forecasts, and deliver slow, steady growth that would secure a higher valuation for GE stock. Welch's obsession with GE hitting its numbers each quarter spurred him to ruthlessly cut costs and fire workers as needed.

☆ The West should confiscate Russia's currency reserves to help Ukraine while easing risk to US dollar's dominance, says anti-Putin hedge fund manager
▼ + stars: | 2023-02-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Russian currency reserves should be confiscated and used to help Ukraine, Hermitage Capital CEO Bill Browder said in the FT.To avoid weakening dollar dominance, the US must be joined by others, the long-time critic of Vladimir Putin added. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. But Browder argued those assets should be seized and put to use in the defense and reconstruction of Ukraine. If the US alone confiscated Russian reserves, that would risk the dollar's dominance in global finance, as countries would shift to other currencies out of fear that the same could be done to their foreign reserves, Browder said. To avoid this, he argued that other countries with a reserve currency must join the US, leaving investors with little alternative.

☆ Anthony Scaramucci highlights a bullish stock market signal that suggests the bear market is finally over
▼ + stars: | 2023-02-17 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The S&P 500 just flashed a bullish signal that suggests the bear market is over, according to Anthony Scaramucci. Recent strength in the stock market has helped the S&P 500 trade above its 200-day moving average for more than 18 days. That signal is the fact that the S&P 500 has traded above its 200-day moving average for 18 consecutive trading days. The S&P 500 traded higher one and two months later 91% and 82% of the time, respectively. The S&P 500 never went on to make new lows, or even test its bear market low.

☆ Saipem shares drop, group says cannot explain why
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +1 min

MILAN, Feb 13 (Reuters) - Saipem (SPMI.MI) does not have any information explaining Monday's share movements, a spokesman for the Italian energy contractor said, after the stock closed down 5.7%. More than 10% of the share capital of the group was traded on the Milan stock exchange, according to Refinitiv data. In July a pool of lender bought Saipem's shares worth almost 600 million euros after a cash call fell short of the 2 billion euro target. BNP Paribas, Citigroup, Deutsche Bank, HSBC, Intesa Sanpaolo and UniCredit were the joint global coordinators of the Saipem issue. Reporting by Francesca Landini and Giancarlo Navach, editing by Gianluca Semeraro and Gavin JonesOur Standards: The Thomson Reuters Trust Principles.

☆ Moody's cuts outlook for four Adani group companies, cites rapid declines in market value
▼ + stars: | 2023-02-13 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

Sopa Images | Lightrocket | Getty ImagesMoody's lowered its outlook for four Adani Group companies on Friday, citing a "significant and rapid decline" in the market values of the entities, the ratings agency said in a notice. It cut the outlook for Adani Green Energy from stable to negative, alongside Adani Transmission Step-One, Adani Electricity Mumbai and Adani Green Energy Restricted Group – an entity that includes Adani Green Energy, Parampujya Solar Energy, and Prayatna Developers. "These rating actions follow the significant and rapid decline in the market equity values of the Adani Group companies following the recent release of a report from a short-seller," Moody's said. Adani group companies have lost more than $100 billion in market capitalization as shares plunged since the Hindenburg report. Credit concernsFor Adani Green Energy, Moody's said the downgrade to negative takes into consideration the company's large capital spending program and dependence on support from its sponsors.

☆ TikTokers can't stop talking about the style of J.Crew's new womenswear design chief, and it's boosting brand image
▼ + stars: | 2023-02-10 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +3 min

J.Crew's new womenswear and kids design chief has gained a large fan base online. These images are being shared widely on TikTok, helping to boost the brand image. A spokesperson for J.Crew told Harpers Bazaar that its women's business has seen consistent growth since Gayot shared her collections and a boost in sales from her posts. Gayot told Harpers that when she joined in September 2020, a few months pregnant, she was apprehensive. New CEO Libby Wadle told The Wall Street Journal in the summer of 2022 that the company is now profitable.

☆ U.S. jobs report was not as strong as it seemed and recession is likely, CIO says
▼ + stars: | 2023-02-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. jobs report was not as strong as it seemed and recession is likely, CIO saysCrossbridge Capital Group's Chief Investment Officer Manish Singh digs into the detail of U.S. jobs and economic data, his view on Fed rate cutting and why he sees a U.S. recession ahead.

☆ BP strategy is still caught between two stools
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 7 (Reuters Breakingviews) - BP (BP.L) is trying to stop the rot. The $108 billion UK oil group’s bumper 2022 results on Tuesday recorded a stellar 30.5% return on average capital employed. But fresh investment in oil and gas means he only plans to cut oil production by 25% by 2030, rather than 40%. The reason that probably won’t happen any time soon is that BP is still planning to cut oil production and hike non-fossil fuel investment more than American rivals. Otherwise, BP may remain too dirty for sustainable investors, and too clean for the rest.

☆ Santander Bank Polska plans to share profit with shareholders - CEO
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +1 min

Feb 2 (Reuters) - The chief executive of Poland's Santander Bank Polska (SPL1.WA) said on Thursday the lender plans to share profit with its shareholders through "a solid dividend". The Polish arm of Spain's Banco Santander (SAN.MC) reported a net profit of 2.8 billion zloty ($654.3 million) in 2022, up 152% year on year, helped by high interest rates. "I am optimistic, because all indicators show, the huge capital surplus plus meeting all criteria to pay a solid dividend," CEO Michal Gajewski told a post-earnings media call. The bank paid a dividend of 2.68 zlotys per share on 2021 results. Chief Financial Officer Maciej Reluga added the bank expects its net interest margin to stabilise this year, provided there are no further interest rate hikes.

☆ Market rallies not helping the Fed, says Skybridge's Anthony Scaramucci
▼ + stars: | 2023-01-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarket rallies not helping the Fed, says Skybridge's Anthony ScaramucciAnthony Scaramucci, Skybridge Capital founder, joins 'Closing Bell: Overtime' to discuss the market rallies this month.

☆ Watch CNBC’s full interview with Skybridge Capital founder Anthony Scaramucci
▼ + stars: | 2023-01-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Skybridge Capital founder Anthony ScaramucciAnthony Scaramucci, Skybridge Capital founder, joins 'Closing Bell: Overtime' to discuss the market rallies this month. He also discusses Sam Bankman-Fried and crypto

☆ Vanguard's global investment expert explains what traders are doing to kick off 2023 and how markets are reacting to the Federal Reserve's policy tightening.
▼ + stars: | 2023-01-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Today, I'm sharing my conversation with Fiona Greig of Vanguard's Investment Strategy Group. Fiona Greig, global head of investor research and policy for Vanguard VanguardFiona Greig is the global head of investor research and policy for Vanguard's Investment Strategy Group. This suggests a "stay the course" posture, meaning yes there's been volatility, but the longer term outlook they have for the stock market is stable. There's some lower expectations for stock market returns in the short term, but we see pretty clear expectations and optimism for returns in the next 12 months, and even 10 years. The firm's strategists said these companies pay out a healthy dividend and can offset stock market losses in a slow-growth economic landscape.

☆ Anthony Scaramucci's SkyBridge Capital limited redemptions as bets on FTX and crypto resulted in a 39% loss last year
▼ + stars: | 2023-01-27 | by ( Brian Evans | ) www.businessinsider.com time to read: +3 min

Anthony Scaramucci's SkyBridge Capital suffered a 39% loss in its top funds in 2022, according to Bloomberg. That's due to losing bets on FTX and cryptocurrencies, pushing investors to pull their money out. SkyBridge investors asked to withdraw 60% of a top fund's capital in the September 30 redemption period, but it only returned 10%. SkyBridge investors asked to withdraw 60% of the top fund's capital in the September 30 redemption period, but it only returned 10%, according to filings cited by Bloomberg. Additionally, SkyBridge funds were listed as owning 244,196 common shares and 61,049 Series B-1 Preferred shares of FTX Trading.

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