Hedge fund firm to create 150 new jobs in Cork (NewsTalk)
A hedge fund administrator is to create 150 new jobs in Cork, as it sets up its second Irish operation. HedgeServ is to establish an office at City Gate Park in Mahon. The company has had an operation in Dublin since 2008, at which it now employs over 380 people. HedgeServ has recently recruited over 50 positions in Cork, and intends to employ over 200 there over the next several years. The initiative is supported by the Department of Jobs through IDA Ireland.
Buffett vs Woodford: Two years after watershed Tesco profit alert, which legendary investor called it right? (ThisIsMoney)
Tesco dumbfounded investors with a profits warning two years ago. It also unwittingly created a face-off between two legendary investors, American billionaire Warren Buffett and British fund guru Neil Woodford, who laid opposing bets on the supermarket giant’s future prospects. To recap, very few saw Tesco Corporation (USA) (NASDAQ:TESO)‘s profit alert coming despite some rumblings of discontent about problems neglected under the regime of ex-boss Sir Terry Leahy. On the day the news broke in January 2012, shares in the company plummeted 16 per cent and closed at 323.45p.
Talmer Bancorp prices IPO at between $12.50 to $14.50 per share (Reuters)
Talmer Bancorp Inc, backed by billionaire investor Wilbur Ross, priced its initial public offering of common shares at between $12.50 and $14.50 per share, valuing the company at up to $1 billion. The offering of 15.6 million shares would raise up to $226 million. Ross, who also serves on the board of Talmer, has a stake of more than 24 percent in the bank holding company through WL Ross & Co. Manulife Asset Management (US) LLC and David Einhorn’s hedge fund Greenlight Capital Inc are the other notable shareholders with a stake of more than 5 percent each in the company.
Hedge Fund Founder Says Income Inequality “A Big Issue” (HedgeCo)
In his annual State of the Union address, President Obama said that, “inequality has deepened” and “economic mobility has stalled.” Obama also promised to tackle economic inequality ”with or without Congress.” “Today, after four years of economic growth, corporate profits and stock prices have rarely been higher, and those at the top have never done better. But average wages have barely budged. Inequality has deepened. Upward mobility has stalled. The cold, hard fact is that even in the midst of recovery, too many Americans are working more than ever just to get by — let alone get ahead.
Hedge Fund Launch: Humanitarianism Through Capitalism (HedgeCo)
Food Fund Advisors is rolling out of the U.S. Food Fund, LLC, a hedge fund with the investment goal of “Humanitarianism Through Capitalism”. The USFF has multiple main purposes, as stated in its investment goal of “Humanitarianism Through Capitalism®”. The first purpose is humanitarian aid and is designed to help create an international network of food, water, shelter and power reserves, while reducing cost and improving efficiency of the support network. Other purposes include disaster response and insurance pooling.
Recommended Reading:
Brian Taylor’s Pine River Capital Management Changes a Few Positions
