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George Glover
22 Sep 2023, 19:44

A small New York hedge fund has secretly managed $7 billion for a Russian oligarch for over a decade, the SEC says

A small New York hedge fund has secretly managed $7 billion for a Russian oligarch for over a decade, the SEC says

A small New York hedge fund has secretly managed $7 billion for a Russian oligarch for over a decade, the SEC says

A little-known New York hedge fund and its owner made tens of millions of dollars managing money for an unnamed Russian tycoon who has political clout in Moscow, according to the Securities and Exchange Commission.

Hyderabad-based ethnic retailer Sai Silks Kalamandir IPO subscribed 4.4x
BI India Bureau
22 Sep 2023, 18:36

Hyderabad-based ethnic retailer Sai Silks Kalamandir IPO subscribed 4.4x

Sai Silks Kalamandir’s ₹1,201 crore public issue was subscribed 4.4 times the shares on offer on the last day, on Friday. The issue received good interest from qualified institutional buyers (QIBs) even as its retail portion was not fully subscribed. The issue had fixed a price band of ₹210-222 per share for its initial share sale.

Stocks are 'pretty overvalued' – and a recession is likely to hit in the next 9 months, says billionaire investor Jeffrey Gundlach
Theron Mohamed
22 Sep 2023, 17:44

Stocks are 'pretty overvalued' – and a recession is likely to hit in the next 9 months, says billionaire investor Jeffrey Gundlach

Jeffrey Gundlach says stocks look expensive relative to bonds, and there was a similar difference in their yields before the global financial crisis.