*Convicted of illegally trading Dell, Nvidia shares. Todd Newman, a former portfolio manager at hedge fund Diamondback Capital Management, and Anthony Chiasson, co-founder of hedge fund Level Global Investors, had been set to begin prison sentences later this summer.» Read More
*Third Point's stake in Sony rises to 7 pct from 6.3 pct. TOKYO, June 18- New York- based hedge fund Third Point said it has raised its stake in Sony Corp and urged the Japanese company to create an independent board to run a partially spun-off entertainment arm with Sony's CEO, Kazuo Hirai, as its chairman.
*Sony rises after hedge fund ups stake, presses spin-off.
*Sony rises after hedge fund ups stake, presses spin-off. TOKYO, June 18- Japan's Nikkei rose on Tuesday, heading for a third straight day of gains, which will mark its longest winning run since a sharp selloff on May 23, underpinned support the U.S. economy.
TOKYO, June 18- New York- based hedge fund company Third Point said it had raised its stake in Japan's Sony Corp and asked for an opportunity to present its proposal to Sony's board for a partial spin-off of the company's entertainment unit.
In an exclusive interview with CNBC, the man at the center of an insider-trading probe, former KPMG auditor Scott London, said he received about $70,000 in kickbacks.
Rarely does a bankrupt company fill Jim Cramer with so much excitement.
LONDON, June 13- Private equity firms are sitting on $116 billion of assets trapped in so-called zombie funds that lie dormant but still rake in fees from investors, research showed on Thursday.
LONDON, June 12- Hedge funds that bet Severn Trent would agree to a Canadian-led takeover are reeling from losses after the water company refused to talk, casting further doubt on their money-making abilities in an anaemic M&A environment.
HONG KONG, June 12- Efforts to make the global financial system safer could be making Asia more- not less- vulnerable to any credit market shocks, leaving bond traders worried that a sharp selloff since late May could turn into a rout.
Discussing the troubles facing SAC Capital, with CNBC's Kate Kelly; CNBC Contributor Ron Insana; and Peter Lattman, The New York Times.
SAC Capital lost close to $3 billion last week, reports CNBC's Kate Kelly. A civil settlement with the SEC for $600 million did not dissuade Federal prosecutors from pursuing a criminal probe.
The hedge fund SAC Capital received between $2 billion and $3 billion in requests from investors for the return of capital last week, say people familiar with the matter.
The net-long money held by money managers in 24 commodity markets tracked by the U.S. Commodity and Futures Trading Commission fell by about $680 million to about $67 billion for the week ended June 4. Futures of U.S. crude oil traded on the New York Mercantile Exchange witnessed a net drop of about $504 million in managed money during the week to June 4.
LONDON, June 7- Major developing countries with big foreign financing needs are acutely vulnerable to the risk of a sudden stop in investment flows which has unnerved emerging markets in recent weeks.
Prosecutors are zeroing in on Steve Cohen's SAC Capital. The New York Times' Jim Stewart discusses whether traders will turn on Cohen, with CNBC's Kate Kelly.
Amid a government probe on insider trading that threatens potential criminal charges against founder Steve Cohen, SAC Capital underperformed the market last month.
Amid significant Q2 redemptions and the current controversy surrounding the hedge fund, the company did not post the type of returns it has in the past, reports CNBC's Kate Kelly.
NEW YORK, June 5- A federal judge on Wednesday set a Nov. 4 start for the criminal trial of Mathew Martoma, a former portfolio manager at hedge fund SAC Capital Advisors, on insider trading charges.
SAC told employees in a letter dated June 3 that it will survive what it characterized as "significant" redemptions, according to sources.
A federal judge set a Nov. 4 start for the criminal trial of Mathew Martoma, a former portfolio manager at hedge fund SAC Capital Advisors, on insider trading charges.