News
Each day, DailyAlts tracks major developments across the alternative investment world. Our content is procured from primary contacts in the industry and secondary sources across the web. Our goal is to give readers the most up-to-date news and engaging experience to open new doors and areas of knowledge. Our stories cover nine separate verticals of the alternative investment industry.
Top Story
Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while the ROCm 6 open software stack introduces new features supporting Large Language Models (LLMs). Additionally, the Ryzen 8040 Series processors come equipped with Ryzen AI capabilities.
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 News
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.
Independent Community Bankers of America Want the SAFE Act Passed
Community Banks Back Cannabis Financial Services Bill The Independent Community Bankers of America sent a letter to the leadership of the House and the Senate urging them to pass the SAFE banking bill. The bill would allow for cannabis companies to use banks and banking services. The letter noted that “The SAFE Banking Act would…
FDIC Approves New Leverage Standards for Community Banks
“Here’s the Latest on the New Community Bank Leverage Standards New community bank leverage standards will reshape the industry. The FDIC approved a different measure of leverage for community banks to avoid the complexity of Basel III regulations. Banks with under $10 billion in assets can now use the Community Bank Leverage ratio instead of…
Private Equity in the Dock for Alleged “Surprise Billing Practices”
A bipartisan Congressional investigation is to determine whether private equity giants are behind price gouging in emergency care.
“Surprise billing practices” are unexpectedly large medical bills from an out-of-insurer-network physician for emergency treatment. These bills could also emanate from an out-of-network physician or ancillary clinician working in an in-network hospital.
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.
Deutsche Bank Joins JPMorgan Blockchain Project
The project now serves 320 banks around the globe on cross-border payments The JPMorgan Blockchain Project just got another big player in the blockchain game. Deutsche Bank has joined JP Morgan Chase’s Interbank Information Network (IIN). This is the financial industry’s single largest blockchain initiative. The data-sharing product features the connection of 320 banks on top…
Adam Farkas to Join AFM in Europe (and More People on the Move) – September 18, 2019
Adam Farkas is the next CEO of the Association for Financial Markets in Europe. The Association for Financial Markets in Europe has announced its replacement for Simon Lewis. Adam Farkas, executive director of the European Banking Authority, will succeed Lewis. The news swiftly earned criticism due to the fact that the banking lobby has appointed…
SEC Charges Jay Daniel Seinfeld and Social Worker on Fraud Scheme
SEC Issues Investor Warning after Seinfeld Defrauds Terminally Ill Jay Daniel Seinfeld used a fake charity to defraud terminally ill patients out of their money. Let that one sink in for a minute. The SEC has settled charges with Seinfeld, his firm Traditions Capital Management and his fake charity, the Hospice Patient Aid Program. The…
Sony Rejects Loeb’s Proposal to Spin Off the Semiconductor Business
Sony rejects Loeb’s proposal to spin off the semiconductor business.
President and CEO Kenichiro Yoshida wrote to shareholders today saying the company intended to retain the business
Backed by the full Sony board, Yoshida said in the letter that “retaining the semiconductor business is the best strategy for enhancing Sony’s corporate value over the long term.”
Department of Justice Slaps Three Traders with RICO Charges
JPMorgan – AKA Bank A – Traders Charged with Market Manipulation The Department of Justice just made JPMorgan’s public relations team buy a lot of headache medication. Two JPMorgan precious metals traders and one former trader face charges for their alleged participation in a racketeering conspiracy. They also face charges of other federal crimes in…
A Blackstone Bellagio Deal Is Looking More Likely
Blackstone (BX is on a buying binge in recent weeks. A Blackstone Bellagio deal? Why not? Just a day after announcing the $4 billion buyout of Dream Global Real Estate Investment Trust, Blackstone is back at it. The alternative investment giant said they are in discussions to buy and lease back the Bellagio and MGM…
The Goldman Sachs Shakeup Continues (And More People on the Move)
Goldman Chief Risk Officer Robin Vance is the latest executive to depart the firm Goldman Sachs Group has announced the departure of another high-profile executive. According to Reuters, Robin Vance will step down from the role of Chief Risk Officer at the end of the year. Vance worked at Goldman Sachs for 25 years and…
Blackstone to Purchase Dream Global REIT for $4.7 Billion
Deal Makes Blackstone a Big Player in Europe’s Recovering Real Estate Markets Dream Global REIT said Blackstone-managed funds will buy the Canadian firm for C$6.2 billion ($4.69 billion). Blackstone will pay C$16.79 cash per Dream Global unit. The deal will see Blackstone acquire all of the office and industrial property manager’s subsidiaries and assets. This…
SEC Hits Stifel and BMO Capital with Big Fines
Firms provided incomplete or inaccurate data to the agency Stifel Nicolaus will pay $2.7 million, while BMO Capital Markets will pay $1.95 million to settle charges with the SEC. The firms provided incomplete and inaccurate securities trading information to the SEC. The agency said Monday that broker-dealers must provide information known as “blue sheet data”…
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…
Arrowgrass Capital Partners Will Shut Down
Blame the Fed, Blame the ECB, Blame All-Around Arrowgrass Capital Partners is shuttering its doors after 11 years. The hedge fund – founded by Deutsche Bank AG traders – blamed central banking policies around the globe for its closure. Investors have been rushing to redeem capital over the last two years. A letter viewed by…
Carl Icahn is Relocating his Office to Miami (and More People on the Move)
Carl Icahn relocates, Aberdeen Standard Has New Reseach Head, and Blackstone Adds a New Director Carl Icahn is moving his hedge fund to Miami to capture better tax benefits. The hedge fund manager is relocating from New York. Icahn will move half of his employees and himself in early 2020, according to Reuters. Carl Icahn…
Dubai residential property is much cheaper than Hong Kong, London, and New York
On a global basis, Dubai real estate is relatively quite affordable
In an analysis of the city’s real estate market, Knight Frank has drawn an interesting comparison: in Dubai, $1 million will buy 143 sq m of residential space compared to 16 sq m in Monaco, 22 sq m in Hong Kong, and 31 sq m in both London and New York.
That’s quite a difference when you consider its strategic location and quality of life and safety rankings.
RegTech Revenues Climb in Step with Startup Activity, Says CCAF Benchmarking Report
RegTech revenues in 2018 top $5 billion following a sharp pickup in startup activity
The above statistic is a finding of the “Global RegTech Benchmarking Report,” published by The Cambridge Centre for Alternative Finance (CCAF) and sponsored by EY Japan.
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.
AT&T Gets Heat from Billionaire Activist
Hedge Fund Elliott Management writes to ATT on how to “realize a historic increase in value” for its shareholders
Billionaire Paul Singer owns Elliott Management. It revealed in its letter yesterday to telecom conglomerate AT&T that it owned $3.2 billion of the latter’s stock. Elliott’s open letter claimed that AT&T could boost its share price to $60+ by 2021 through “readily achievable initiatives.”
Mizuho Americas Hires Bob Wright to Key Sales and Trading Role
The new hire will operate out of New York office Mizuho Americas has hired Bob Wright as its head of execution services sales and trading in the United States. According to a statement released by the company last week, Wright will report to Head of the Equity Division in the Americas Darlene Pasquill. The addition will…