Category: Business

Chinese smartphone maker Xiaomi Corp said on Sunday that its legal complaint against the U.S. Department of Defense and the Treasury Department was to protect the company’s interests, in a notice on the Hong Kong stock exchange. The company filed a complaint in a Washington district court on Friday against the U.S. Defense and Treasury […]

Canada, the world’s biggest canola grower, is running short of the oilseed six months before the next harvest, with strong export demand driving prices to nearly 13-year highs last week. Supplies of major commodity crops are dwindling worldwide as buyers hoard food supplies during the COVID-19 pandemic. China is loading up on grains and oilseeds […]

U.S. hedge funds last week bought and sold the most stock in more than 10 years amid wild swings in GameStop Corp shares that many had bet against, but their market exposure to stocks is still near record levels, according to an analysis by Goldman Sachs Inc. “According to Goldman Sachs Prime Services, this week […]

Melvin Capital, the hedge fund at the center of the GameStop drama, lost 53% in January but received commitments for fresh cash from investors in the last days of the month, a source familiar with the fund said on Sunday. Melvin ended January with more than $8 billion in assets after having started the year […]

On three hours of sleep a night and with no time to eat, one New York-based hedge fund manager overseeing billions in assets called last week the most stressful of his life. “Nothing was making sense anymore,” he said, as he watched the stock of GameStop Corp soar, while he bet it would fall. Wednesday […]

Asian shares rallied on Monday and U.S. stock futures recouped early losses as newly empowered retail investors turned their attention to precious metals, promising a respite to some hard-hit hedge funds. MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 1.4% after four straight sessions of losses. Japan’s Nikkei added 1.2%, after shedding almost 2% […]

Hainan Airlines Holding Co Ltd, HNA Group’s flagship firm, is operating normally and could draw in new investors despite a bankruptcy filing, embezzlement charges and large asset impairments for the carrier last week, some analysts said. A strong route network, high brand value and an experienced management team as well as restructuring efforts by China’s […]