Dexia Joins List of Banks Ready to Roll over Greek Debt
06/23/2011 5:47:04 PM ET
BRUSSELS, Belgium (Reuters)—Franco-Belgian banking group Dexia is prepared to voluntarily roll over its Greek debt, a financial source said on Thursday [June 23], adding to the list of banks prepared in principle to take part in a second Greek rescue. The euro zone wants Greece's private bondholders to roll over as much as €30 billion ($42.
Anglo Irish Says U.S. Court Has No Say in Loan Sale
06/23/2011 5:28:32 PM ET
NEW YORK (Reuters)—Anglo Irish Bank said a sale of $10.3 billion of its loans on U.S. commercial property would generate more cash for the bank to pay its debts, according to a letter to the court that Reuters obtained on Wednesday [June 22].
GPS Worry Prompts Call for More LightSquared Tests
06/23/2011 5:16:24 PM ET
WASHINGTON (Reuters)—U.S. government officials called for more testing of hedge fund manager Philip Falcone's satellite broadband start-up to address interference issues with global positioning systems, but showed interest in finding a solution rather than shutting the venture down.
WaMu Ally U-Turns, Now Opposes Bankruptcy Plan
06/23/2011 3:35:21 PM ET
WILMINGTON, Del. (Reuters)—A hedge fund that helped craft a settlement at the heart of Washington Mutual Inc.'s reorganization plan now opposes the deal, saying it unfairly enriches JPMorgan Chase & Co.
K2 Advisors in Talks over Potential Sale: Report
06/23/2011 3:27:29 PM ET
STAMFORD, Conn. (Reuters)—K2 Advisors has had initial discussions with private-equity firm Carlyle Group and other possible buyers about a potential sale, The Wall Street Journal reported on Wednesday [June 22], citing people familiar with the matter.
Hedge Funds Warn of Dead Hand of the Box Tickers
06/23/2011 1:31:52 PM ET
MONACO (Reuters)—The entrepreneurial spirit that fuelled the growth of the hedge fund industry could be killed off by investors worried about another Bernard Madoff-style fraud, said executives meeting in Monaco this week. Managers left the GAIM conference, the annual get-together for the European industry, in more upbeat mood than last June after a year of client inflows, but they warned rigid demands by institutional investors threatened hedge funds' reputation as maverick investors.
Hedge Funds Fear Commodity Bull Run May be Over
06/23/2011 1:03:58 PM ET
MONACO (Reuters)—The price of gold, copper and other commodities may have peaked, say hedge fund managers meeting in Monaco this week, who are avoiding the sector for fear that last month's sharp sell-off may herald further falls. Executives at the GAIM conference said gold and base metals, which have boomed in recent years thanks to rising demand and low interest rates, along with the recent wave of high-profile mining company flotations, looked over-priced.
JPMorgan Flexes Muscle With European Hedge Funds
06/22/2011 5:19:57 PM ET
BOSTON (Reuters)—JPMorgan Chase & Co. took a big step in expanding its footprint in the global prime brokerage business on Wednesday [June 22] by launching complete prime services for European hedge funds.
