Hedge Fund Short Positions In Spain and Austria
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| image credit: valuewalk.com |
In a coverage of short positions across Europe, Spain has so far been missed, where Mediaset Espana Communication SA is a short position of Highbridge Capital, Saemor Capital and Millennium Capital. A short favorite is Indra Sistemas SA, which is a bet of Hoplite Capital, Meditor, Adelphi Capital, Morton Holdings, and Antipodean Advisors.
Bankinter SA is a short bet of Discovery Capital, Wellington Management, and Marshall Wace.
Wellington is shorting 3.48% of Bankinter SA
Dyal Capital Raises $1.28 billion for Hedge Fund Stakes
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| image credit: hedgeco.net |
Dyal Capital Partners, a private equity fund set up to take stakes in existing hedge fund firms, has closed to new money after raising $1.28 billion, showing that demand to invest in the sector persists despite recent poor performance.
Swiss Investments Excluded from Regulations
$28 Billion TNK-BP Sale, Rosneft, BP Remain in Talks
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| Photo credit: thepriceofoil.org |
The final terms haven’t been set and the offer discussed by BP’s board yesterday dealt in ranges for how much would be paid in cash and in shares. An accord could see BP take 10 to 20 percent of Rosneft as part of deal worth $25 billion to $28 billion, according to the person, who declined to be identified because the talks are confidential. An announcement could come as early as Oct. 22, though the negotiations may take longer, the person said.
A deal may see Rosneft pay $11 billion to $13 billion in cash as well as offering a 16 to 20 percent stake in the company, Sky News reported. BP is also seeking a legal indemnity to protect it from claims by its billionaire partners in the venture, represented by AAR, Sky said. BP spokesman Vladimir Buyanov and a Rosneft official, who asked not to be identified citing company policy, declined to comment.
In an effort to exit the 50-50 venture which brought billions in profit and years on conflict within investors, a stake in Rosneft would allow BP to maintain a presence in Russia. Rosneft also has a preliminary accord to acquire the other half of the venture form AAR who are seeking $28 billion.- MoneyTalks
Airline Owned by Billionaire Mallya, Licensed Frozen by India Govt.
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| Indian Billionaire; Vijay Mallya |
The Civil Aviation Ministry has stated that the suspension will remain in effect until the airline submits a concrete and reliable revival plan to the satisfaction of the Director General of Civil Aviation.
As Vijay seeks investment for his airline, the recent development adds pressure on him, currently struggling with 86 billion rupees ($1.6 billion) of debt and five straight years of consistent loss. Amid service disruptions, earlier this week, aviation regulator denied approval for Kingfisher's winter flight schedule.
Kapil Kaul, head of CAPA Centre for Aviation in India, said the suspension will allow Kingfisher time to rethink about complete revival or assess damages due to possible closure rather than restarting a five-aircraft operation. However the revival will be dependent on founders raising a minimum of $600 million, which is highly unlikely.
Microsoft Rivals Ipad with Surface Starting at $499
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| photo credit: crave.cnet.co.uk |
The first iteration of the device, powered by a chip with technology from ARM Holdings Plc (ARM), will be available as a 32- gigabyte model for $499, the company said in a statement. With a black cover, it will cost $599, and a 64-gigabyte version will be $699. The machine goes on sale Oct. 26, and Redmond, Washington-based Microsoft will take a limited number of early online orders starting at 12 p.m. New York time today.
Being the world's largest software maker, Microsoft needed a device priced under $500 to lure customers away from the iPad and to compete with other tablet device makers such as Amazon.com and Google Inc, which are pushing prices lower in the tablet category.
Amid Speculation of Spain Requesting Aid, Euro Gains Beyond $1.30
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| Photo credit: europa.eu |
Euro rose above $1.30 for the first time in a week, amid speculation that Spain is moving toward asking for financial assistance, which reduces the concern of the region's debt crisis worsening.
The 17-nation currency strengthened for a fourth day versus the yen after Germany was said by two senior coalition lawmakers to be open to providing Spain a precautionary credit line. The dollar and the yen fell against most of their major counterparts as U.S. industrial production rose more than forecast last month, damping demand for the safest assets. The Canadian dollar fell against most major peers after Bank of Canada Governor Mark Carney suggested he may reduce his economic outlook and delay raising policy interest rates.
News have however been circulating that there will be some kind of help in the near future for Spain.
Euro climbed 0.8 percent to $1.3049 at 1:24 p.m. New York time, after reaching $1.3061, the strongest level since Oct. 5. Against Japan’s currency, it gained 1.1 percent to 102.96. The yen slipped 0.3 percent to 78.90 per dollar. - MoneyTalks
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