Shorting shares in GameStop, the video game retailer at the centre of the ongoing retail trading frenzy, cost hedge funds a total US$12.5 billion over January, data from financial analytics firm Ortex showed on Monday.
Wall Street analysts on Monday gave little credence to the possibility of an Exxon-Chevron mega merger, as news of talks last year between the two largest U.S. oil companies leaked ahead of Exxon's results that are expected to show the company posting its first-ever annual loss.
U.S. manufacturing activity slowed slightly in January, while a measure of prices paid by factories for raw materials and other inputs jumped to its highest level in nearly 10 years, strengthening expectations inflation will perk up this year.
Facebook Inc said in a blog post Monday it will begin rolling out a notification for iPhone users globally about how data is used for personalized ads, in an attempt to get ahead of upcoming Apple Inc privacy changes that Facebook says will hurt its advertising business.
SINGAPORE: Silver broke above US$30 an ounce for the first time since 2013 on Monday (Feb 1) as an army of retail traders stormed into the metal after betting billions of dollars on stocks last week, triggering risks of a multi-asset melt-up in global markets. Organised in online forums...
LONDON: Global shares bounced and silver markets surged on Monday (Feb 1) as retail investors expanded their social media-fuelled battle with Wall Street to drive the precious metal to an eight-year high. Stock markets were roiled last week after a spike in retail demand to buy the stocks most...
Mexico's government plans to seek more than US$500 million from Canadian miner First Majestic Silver Corp in what it says are owed taxes for artificially keeping its silver prices low over the past decade, two sources told Reuters.
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.
WASHINGTON: Arguably the last thing new US Treasury Secretary Janet Yellen wants to take up during her first days in office is a financial market imbroglio involving one of her last private sector business relationships. But as hedge fund Citadel emerges as one of the key actors in the...
LONDON: Wall Street's retail trading frenzy has distorted markets, global hedge funds industry body AIMA said on Monday (Feb 1), adding it was concerned that lawmakers were encouraging such moves. Retail investors gathering in social media chatrooms like Reddit have been driving up the price of ...
