LONDON — Peter Mandelson looks set for a new life in the United States after a long and sometimes-controversial career in British public life. An announcement confirming him as the government’s choice for next U.K. ambassador to Washington is expected from No.10 Downing Street Friday. It’s a remarkable next chapter for Mandelson, who is staunchly … Read more
Hedge funds piled into bets on financial stocks, Tesla shares and a prison operator in the third quarter, filings showed, ahead of a rally that followed Donald Trump’s victory in the US presidential election. Many of the bets have become known as so-called Trump trades, corners of the market that at times were swayed by the Republican candidate’s … Read more
A hedge fund boss who is being sued by his own mother over unpaid debts has been living it up in Miami and jetting off on pricey vacations — even as his employees flee and his clients demand their cash back, The Post has learned. Jason Ader — CEO of Spring Owl Asset Management, an … Read more
You might think the biggest problem billionaire Citadel boss Ken Griffin faces in moving his hedge fund and market-making empire from crime-ridden Chicago to the sunny and far less dangerous confines of Miami is the cost of the move. Yes, his team will be eating losses on expensive real estate (including his Chicago penthouse) that they need … Read more
Billionaire hedge fund manager Bill Ackman didn’t hold his tongue while watching the CBS News Vice Presidential Debate on Tuesday night. The founder and CEO of Pershing Square Capital Management made a series of X posts explaining why he thinks Republican nominee Sen. JD Vance (R-Ohio) outperformed Democratic nominee Minnesota Gov. Tim Walz. “JD Vance is whip … Read more
Southwest Airlines will reduce service to and from the world’s busiest airport — another sign that one of the country’s largest carriers is in the midst of steep cost-cutting efforts in the face of pressure from an activist investor. The Dallas-based airline is slashing arrivals and departures to and from Atlanta’s Hartsfield-Jackson International Airport while … Read more
U.S. stocks are bouncing back, and calm is returning to Wall Street after Japan’s market soared earlier Tuesday to claw back much of the losses from its worst day since 1987. The S&P 500 was rallying by 1.6 per cent in midday trading and on track to break a brutal three-day losing streak. It had tumbled a bit more … Read more
Many Wall Street fund managers know only to play offence, pushing up stock targets even when economic indicators signal otherwise. Many stock analysts recommend the “buy and hold” strategy despite obvious signs of impending market upheavals, such as a recession or high inflation. Convincing clients to “hold” on to their “offence only” assets ensures a … Read more
Groq AI, a buzzy startup fighting to compete with AI chip supplier Nvidia, is set to raise hundreds of millions of dollars in a new funding round, The Post has learned. The Mountain View, Calif.-based firm – which is not affiliated with the “Grok” chatbot developed by billionaire Elon Musk’s startup xAI – is aiming … Read more
New York Mets owner and CEO Point72 Steven A. Cohen, 67, recently disclosed that he is bullish on AI’s long-term prospects and described it as a “really durable theme” for investing. According to sources, he plans to launch a separate, AI-focused hedge fund that trades AI hardware and semiconductor firms worldwide. The asset management firm … Read more
