It seems likely to lead to a bitter court dispute. Jane Street Group has accused Millennium Management of using its in-house trading strategy. The roots of this dispute date back to earlier this year, when traders Daniel Spottiswood and Douglas Schadewald moved from Jane Street to Millennium. Both were heavily involved in creating the proprietary…
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This action, which occurred during the final 15 minutes of local trading time on Tuesday, 9 April 2024, sunk China Tianrui Group Cement’s stock by 99%, and at the final bell, a share sold for 0.048HKD. According to Bloomberg, the company cited a pending announcement regarding inside information for the halt in trading. The company’s…
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CNBC reported that this public address to Alibaba employees was the second in recent months. In an attempt to restore the Chinese technology mammoth to its former glory, the company made unprecedented organisational changes. In an internal memorandum to the firm’s employees, Ma reportedly wrote: Over the past year, amid external and internal doubt and…
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This is the highest mark so far and, according to Yahoo Finance, reflects an estimated 6% jump from the opening benchmark mean on Monday, 8 April 2024. In a note to clients, Harvey postulated that investors are overlooking the possibility of stock valuations that are too high in the present market clime. This keeps current…
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MRNA shares rose as high as 9% during the day, continuing their recent steady climb. This was enough for MRNA to lead the S&P 500’s list of top movers on Tuesday. The company presented details at the annual American Association for Cancer Research meeting on Monday. Here, it revealed interesting data on the use of…
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This figure was reported following a private meeting on Monday with the firm’s creditors and bondholders, which was widely reported in the media. Atos currently owes €2.4bn of debt that’s due for repayment in 2025. However, some sources suggest that the overall debt could be almost double that amount. It isn’t clear who will provide…
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The Chinese electric vehicle (EV) maker recorded Q4 earnings of $361m for a 92% quarter-on-quarter spike. It contributed this financial performance to its “asset-light business model” that boosted battery electric vehicle (BEV) production and sales. This revenue performance follows on the heels of the Lotus Tech IPO on 23 February 2024, less than two months…
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These profits were driven, in part, by semiconductor prices bouncing back after they dropped significantly last year and the demand for artificial intelligence products. SSNLF is the biggest memory chip maker in the world, and they’ve estimated their operating profit for Q1 at 6.6tn won ($4.89bn /$ 7.45bn AUD), which is better than the 5.7tn…
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The move follows on the heels of the Swiss bank’s 2022 stock repurchase scheme, during which it bought back shares to the value of more than $5.2bn. The newly announced buy-back will total up to $2bn, of which UBS will reportedly spend $1bn this year. In its press statement, the financial institution noted: On 3…
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Based on a Reuters report, this gemstone certification company aims for a valuation of about $1.5bn. In May 2023, Blackstone bought IGI for $570m from Fosun International Limited (0656.HK) and the Lorie family, who founded the company. Describing itself as the world leader in the grading and accreditation of gems, IGI operates mainly in India.…
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