News 

Alaska’s Republican governor wants to give every resident more than $4,000 for the next 3 years, but not everyone is happy

“Alaska’s $65 billion permanent fund and its annual universal cash program paid out to most citizens are the legacy of late Alaskan Gov” writes Richard Feloni for businessinsider.com. Bill Walker’s decision to lessen the state’s dividend payout from 2016-2018, in an attempt to alleviate the state’s recession, proved so unpopular it was one of several reasons he decided to not run for re-election.In January, Dunleavy proposed a dividend exceeding $4,000 per person for the next three years.Read more: Nearly everyone living in Alaska gets about $2,000 a year from the…

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Crypto News 

First Pension Funds Investing in Crypto — a Sign of Things to Come?

“This survey was carried between December 2018 and January 2019, and 71 global institutional investors took part, which included private equity, hedge funds and pension funds” writes Gareth Jenkinson for cointelegraph.com. When asked if he expected other governmental pension funds to look to invest in the space, Weiler replied that ‘he had no idea’.The news is being hailed as the first time a United States pension fund has directly invested into cryptocurrency assets.Considering this fact, the move by Morgan Creek Digital is a positive sign for the cryptocurrency ecosystem amid…

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News 

Bristol-Myers says Starboard nominated five directors, bought shares

“FILE PHOTO: Logo of global biopharmaceutical company Bristol-Myers Squibb is pictured on the blouse of an employee in Le Passage Thomson Reuters BOSTON (Reuters) – Bristol-Myers Squibb Co. said on Wednesday that activist hedge fund Starboard Value LP wants to add five directors to its board and bought one million shares after the pharmaceutical company said it plans to buy biotech company Celgene Corp” reports businessinsider.com. “Starboard Value sent Bristol-Myers Squibb a notice of nomination in connection with Bristol-Myers Squibb’s 2019 Annual Meeting of Stockholders,” the company said in a…

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News 

Google’s former CFO wants to fund Europe’s Facebook and Google before Silicon Valley buyers ‘take them out’

“Europe doesn’t have anything to rival the Silicon Valley giants, a world-leading tech company on a level with Facebook, Google, Amazon, or Microsoft” writes Shona Ghosh for businessinsider.com. At the end of the day, it’s not a UK company any more.The new fund has enabled the expansion to Europe, where Pichette will scout out promising European startups. Source: businessinsider.com

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News 

A former SAC Capital portfolio manager is closing his $1 energy billion hedge fund after only three years of trading

“Precocity Capital, an energy-focused hedge fund run by former SAC Capital PM Nick Tiller, is closing down, according to sources familiar with the matter” writes Bradley Saacks for businessinsider.com. The hedge fund managed more than $1 billion as recently as last year, regulatory filings show, and began trading less than three years ago, in mid-2016.Tiller left SAC in 2013 and founded a non-profit organization that consults with and invests in companies creating more sustainable energy and food practices known as Sustainable America.Past reports also note that Tiller was responsible for…

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News 

Appaloosa’s Tepper says Allergan should consider selling itself

“David Tepper, founder of Apploosa Management, speaks during the Sohn Investment Conference in New York Thomson Reuters (Reuters) – Billionaire hedge fund manager David Tepper said on Tuesday Allergan Plc should consider selling itself if its management is unable to turn around recent lagging performance, stepping up pressure on the drugmaker” reports businessinsider.com. “If in fact the Board is unable or unwilling to hold management accountable for its shortcomings or find a suitable replacement, it is your fiduciary obligation to explore other options, including a merger or sale of the…

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Papa John’s founder Schnatter says he welcomes hedge fund Starboard

“In his amended lawsuit filed under seal in the Delaware Court of Chancery, Schnatter aims to undo a new provision of a voting agreement between Papa John’s and Starboard that requires the hedge fund vote its company shares in favor of Papa John’s preferred directors” reports businessinsider.com. Papa John’s this month unveiled Starboard’s investment of up to $250 million and named the fund’s chief executive, Jeff Smith, as its chairman.John Schnatter, founder and CEO of Papa John’s Pizza, arrives at the 2011 American Music Awards in Los Angeles Thomson Reuters…

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News 

SoftBank’s high leverage is another warning sign on the growing corporate debt crisis

“However, one of the company’s key rating metrics, loan-to-value, has been a negative for credit rating analysts at Moodys and S&P, as reported by Bloomberg” writes Callum Burroughs for businessinsider.com. SoftBank, the giant fund behind investments including Uber, Slack, and WeWork, is under pressure from analysts with a negative sentiment on the company’s net debt and leverage.”It would be a very challenging step to upgrade this company to investment grade.”. Last month the company significantly scaled back planned investment into WeWork amid questions about the viability of the loss-making office…

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A key Barclays investor which backed CEO Jes Staley has cut its entire stake in a major blow to the lender

“Tiger Global, a hedge fund, had held a top 10 stake in Barclays but has since cut its entire holding, according to the Financial Times” writes Callum Burroughs for businessinsider.com. Staley’s plan for the lender was well received initially with Barclays’ share price touching £2.17 ($2.80) last March but its share price stands at £1.59 as of 9.40 a.m in London — down 0.5%.It’s a major blow to Barclays CEO Jes Staley who had received backing for his plan to reinvigorate the lender’s investment banking operations and focus on the…

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