Hedge funds hope losing shorts on U.S. natural gas will pay off
NEW YORK (Reuters) – This year’s early rally in U.S. natural gas prices dealt heavy losses to hedge funds that stubbornly maintained short positions in the face of brutally cold weather, and the price slide of the past two months has not yet erased los…
Kodak restructuring framework OK’d by court, will go to creditors
NEW YORK (Reuters) – The framework of a plan by Eastman Kodak Co to restructure as a commercial imaging business was approved by a bankruptcy judge on Tuesday, bringing the former photography company one step closer to exiting from Chapter 11 protectio…
More big-name hedge funds nurse wounds from bond sell-off
NEW YORK (Reuters) – One of last year’s top-performing hedge fund managers, Deepak Narula, is suffering a reversal of fortune as the mortgage bonds that steered him to the top of the industry in 2012 are now delivering losses.
SandRidge Energy names energy exec LeBlanc as CFO
(Reuters) – U.S. oil and gas company SandRidge Energy Inc on Tuesday named energy executive Eddie LeBlanc as its chief financial officer.
U.S. hedge fund Scout steps up pressure on Tim Hortons
TORONTO (Reuters) – Scout Capital Management, a U.S. hedge fund, said on Tuesday it is urging Canadian coffee and doughnut chain Tim Hortons to increase its debt levels in order to fund a share buyback, measures that Scout say should help drive up Tim …
World Bank to help developing nations cope with rising rates: Kim
WASHINGTON (Reuters) – The head of the World Bank said on Tuesday that the global lender stands ready to help developing countries cope with a rise in interest rates as a result of the U.S. Federal Reserve’s plan to scale back its stimulus program.
Lebanese bank to pay U.S. $102 million in money-laundering case
NEW YORK (Reuters) – A Lebanese bank accused of being at the center of global money-laundering schemes tied to the militant group Hezbollah has agreed to pay a $102 million settlement, U.S. prosecutors in New York said Tuesday.
CFTC likely to charge MF Global execs beyond Corzine: legal experts
NEW YORK (Reuters) – The lawsuit that the U.S. Commodity Futures Trading Commission is considering filing against MF Global chief executive Jon Corzine would require the CFTC also to charge other former MF Global employees, legal experts said on Tuesda…
UBS hires insurance product manager from Morgan Stanley
(Reuters) – Swiss bank UBS AG’s U.S. brokerage said on Tuesday it hired the former head of insurance product management at Morgan Stanley Wealth Management to run the firm’s overall insurance platform in the Americas.
Analysis: CB&I has early-bird edge as U.S. approves LNG export plants
(Reuters) – Engineering companies like Chicago Bridge & Iron and their shareholders are salivating at the prospect of more U.S. natural gas exports as regulators begin to sign off on the plants needed to move gas abroad.
