Headlines
The top alternative investment headlines driving the global financial markets today
Top Story
British fintech startup Fly No Pay Later’s innovative and quite literally “grab your bags and go” product allows travelers to pay for their trip over up to 12 months. Once travel restrictions ease, travelers eyeing mouth-watering flight and hotel offers, therefore, have no excuse. Unsurprisingly, Fly Now Pay Later found investors out there who were willing to bet $43 million on its product for the virus-battered, given-up-for-dead travel industry.
Get Daily Updates
Subscribe to DailyAlts Today to get Alternative Investment news, insight, and commentary delivered straight to your inbox every day.
More Stories on Headlines
Credit Suisse Asset Management Makes ESG Announcement
Credit Suisse Asset Management announced plans to adopt ESG factors into all of its investment decisions. The firm said that any fund with more than CHF 20 billion in assets will implement ESG criteria into its framework.
Burning Through Cash, WeWork Turns to Goldman
Is WeWork running out of money? According to Bloomberg, WeWork (or We Co.) burning through the green stuff at a torrid pace.
What’s the Matter With Chinese Private Equity?
Chinese private capital dealings slumped dramatically in the first half of the year. A new report from the Emerging Market Private Equity Association reveals startling figures on the state of the Chinese market.
Altria and Philip Morris call off $200B merger; Juul’s CEO replaced by Altria Exec
Juul, the maker of e-cigarettes, had its CEO replaced amidst the current controversy surrounding its products.
A string of deaths, apparently due to the use of e-cigarettes, led Juul to cease product advertising and government lobbying. At least nine deaths have been attributed in recent months to vaping and e-cigarettes. The Centers for Disease Control reported 530 cases of lung injuries tied to vaping.
Some Hedge Funds and Airlines to Gain from Thomas Cook’s Collapse
Hedge funds that used credit default swaps to bet on Thomas Cook’s collapse will make a lot of money.
The 178-year old travel operator, Thomas Cook’s collapse, will lead to the loss of 21,000 jobs. Besides, more than 150,000 tourists are stranded across the world at vacation spots.
WeWork CEO Adam Neumann Steps Down; Company May Cut 5,000 Jobs
WeWork’s founder and chief executive officer has stepped down as CEO but will continue as non-executive chairman.
WeWork’s Adam Neumann said he had decided it was in the best interest of the company to step down as chief executive.
Neumann said the business was strong but that he was distracted by the intense media scrutiny directed at him.
WeWork CEO Neumann facing boardroom coup?
WeWork CEO Adam Neumann may be forced out if some members of his company’s board have their way, reports Bloomberg.
According to unnamed sources, SoftBank Group head honcho Masayoshi Son was pushing for Neumann’s exit.
Fitbit May Sell Itself: Reuters
Wearable device maker Fitbit may be exploring the feasibility of a sale as competitive pressures mount.
Fitbit has been talking to boutique investment bankers Qatalyst Partners on the subject of engaging with likely acquirers, said Reuters.
AT&T Considering Options for DirecTV Unit
AT&T may sell DirecTV, among other options, as consumers drop TV connections.
Telecom giant AT&T, which bought DirecTV for $49 billion in 2015, maybe considering a U-turn on the unit.
According to sources in the know, the satellite TV service is seeing a diminishing subscriber base. This trend is a result of consumers ‘cutting the cable cord.’
US Fed Cuts Rates by 25 Bps; Trump Says Fed Has No Guts
As expected, the Fed cut interest rates to sustain the economy but was non-committal on future cuts.
Fed Chair Jerome Powell painted an optimistic picture of the US economy, citing buoyant labor markets and inflation nearing targets.
However, the 25 basis points rate cut addressed ongoing risks such as tepid global growth and trade wars.
Thomas Piketty Calls for “Inheritance for All”
Progressive Economist Seeks Policies to “Overcome Capitalism” French economist Thomas Piketty has released a new book called “Capital and Ideology.” So, look out hedge fund managers and would-be billionaires. Piketty is coming for your money. In the 1,232-page book, he calls on the French government to pay every citizen $132,000 (or 120,000 euros) on their…
Hedge fund Autonomy Capital Drops $1 Billion on Argentinian Wagers
Autonomy Capital lost that much in one month following political turmoil in Argentina
Last month we reported on the losses suffered by Brazilian hedge fund Newfoundland Capital Management in Argentinian stocks.
Turns out Autonomy Capital, the prominent macro fund founded by Robert Gibbins, was also singed.
ECB announces massive stimulus; Trump cries foul
The European Central Bank launched a new bond buying package and cut deposit rates to stimulate the Eurozone economy
The central bank said it will purchase assets worth € 20 billion ($ 21.9 billion) every month until such time as necessary.
30-Year Treasury Bond Slumps Under 2% for First Time
Markets fear a global recession. The old reliable 30-year bond just hit an all-time low. The 30-year treasury bond just hit an all-time low. While the Dow slumped 800 points Wednesday, the 30-year bond dropped under 2% for the first time in history. We witnessed a drop to 1.991% during Asian trade. It’s also the…
Alleged Hedge Fund Fraud Links Lewitt, Biden’s Brother
Two healthcare companies are suing a hedge fund manager and James Biden Accusations of hedge fund fraud are back in the headlines. A hedge fund manager and the brother of a Presidential candidate are accused of defrauding two medical companies in Tennesee. Last month, Azzam Medical Services and Diverse Medical Management filed a complaint with…