The performance of hedge funds in the first half of the year has been a mixed bag. While some multi-strategy and systematic funds have seen significant gains, macro funds like Caxton Associates and Brevan Howard have faced challenges. Andrew Law’s Caxton Associates, which focuses on macro economics, finished last month flat after a 4% gain
The recent $2.65 billion deal between Saks Fifth Avenue parent HBC and department store chain Neiman Marcus is a strategic move to boost their negotiating power with vendors and enhance their ability to control costs. In the midst of a luxury retail market grappling with slowing demand due to high interest rates and inflation, this
The recent release of weak U.S. economic data has had a significant impact on the foreign exchange markets. Both the pound and the euro saw gains against the dollar following this news. Sterling managed to edge up to $1.2757, while the euro reached $1.0801. The dollar’s decline was sparked by softer-than-expected U.S. economic data, including
Recently, the European Union has decided to increase tariffs on electric vehicles imported from China. This decision comes after the European Commission conducted an investigation that revealed producers of battery EVs in China were benefiting from “unfair” subsidization. The tariffs, ranging from 17.4% to 37.6%, are set to take effect on Friday, affecting automakers like
China is currently in discussions with the European Union regarding the planned tariffs on imported Chinese electric cars. The European Commission has warned that if an agreement is not reached, additional duties will be imposed on Chinese EVs starting July 4th, with definitive measures taking effect a few months later. The Ministry of Commerce in
The recent increase in first-time applications for U.S. unemployment benefits and the rise in the number of people on jobless rolls towards the end of June have pointed towards a gradual cooling in the labor market. This ebbing labor market momentum, coupled with abating inflation pressures, has put the Federal Reserve on track to potentially
In midday trading, media and entertainment stock Paramount Global saw a significant increase of over 9% after news broke that Skydance Media has reached a preliminary merger deal with controlling shareholder National Amusements. CNBC reported that Paramount Global’s special committee is currently reviewing and voting on the agreement. This positive development has undoubtedly captured the
General Motors has been hit with a significant penalty of $145.8 million following a government investigation that found excess emissions from approximately 5.9 million GM vehicles. This penalty comes as a result of vehicles from the 2012-2018 model years emitting more carbon dioxide than originally reported. The Environmental Protection Agency (EPA) found that these vehicles
According to NRG, Screen Engine, and other three-week-in-advance box office tracking services, the highly anticipated Disney/Marvel Studios film, Deadpool & Wolverine, is poised to have a domestic box office opening in the range of $160 million-$165 million. This figure would not only make it the best opening of the year so far but also set
In the second quarter of the year, Ford saw a 1% increase in sales compared to the same period last year. The driving force behind this growth was a 5% increase in truck sales. This includes pickups and vans, with a total of 308,920 vehicles sold, marking Ford’s best second-quarter performance for this category since
United Airlines has taken a step towards improving customer experience by implementing a new method of communication during flight delays. Instead of passengers left in the dark wondering about the reasons behind the delays, the airline is now offering to send live radar maps directly to travelers. This innovative approach allows passengers to see for
The Chinese electric vehicle maker BYD is making significant strides in the battery electric vehicle (BEV) market, with expectations to surpass Tesla in sales this year. According to a recent report from Counterpoint Research, BYD’s market share for BEVs is projected to surge, highlighting the evolving landscape of the global EV market. In the second
Passion tourism is a phenomenon that is gaining momentum among Americans, with more and more people traveling overseas to fulfill their personal interests and passions. While traditional travel destinations like Rome and Paris remain popular, there is a new wave of travel driven by events such as concerts and sporting events. The trend is exemplified
General Motors recently reported its best quarterly sales performance in over three years, showcasing significant growth in various segments. The Detroit automaker’s second-quarter sales reached 696,086 units, marking a 0.6% increase from the previous year and the highest number of units sold since the fourth quarter of 2020. Notably, the sales of General Motors’ all-electric