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Bearish bets have been building in ARKK, with short interest climbing to 4. Updates with Thursday trading, short interest details For more articles like this, please visit us at bloomberg. A share sale could help AMC shore up its finances that have been hit by pandemic-related closures and delays in the launch of big movies as well as the growth of online entertainment providers. Another bitcoin ETF is in Boat Building Companies In Nigeria Years the works for Canadian investors. Oil prices gave up some gains. Celonis, a fast-growing German process mining software startup, has struck a strategic partnership with IBM to help companies make the most of the digital transformation that many are undergoing at speed.

IBM's Global Business Services consulting arm will weave the Celonis Execution Management System into its offering, adding the ability to analyse data thrown off by processes like supply-chain management, finance or procurement to identify weaknesses and recommend fixes. Celonis will also shift its software stack to IBM's Red Hat OpenShift platform, which enables companies to operate in an open 'hybrid' setting that can include public or private cloud data centres, on-premise servers and mainframe computers.

When Japan's Tokio Marine, the company insuring the debt, declined to renew its coverage with Greensill Capital last month, Credit Suisse was forced to liquidate the fund and said this may have a material impact on its results and reputation.

The bank's shares have fallen by almost a quarter in the past month as it deals with the fallout from Greensill and the impact of losses at its prime brokerage division caused by the stricken U.

As volatility subsides, a greater number of institutions could warm to the crypto space, the strategists said. None of the biggest U. Goldman Sachs Group Inc. Morgan Stanley plans to give rich clients access to three funds that will enable ownership of crypto and Bank of New York Mellon Corp. Will rates keep rising?

What about prices? And is refinancing over? Bloomberg -- With the sun rising outside their conference room in Midtown Manhattan, the visitors to a secretive investment empire bent their heads in prayerful meditation.

In the days before the pandemic, 20 or 30 people would squeeze together around the long table and, over coffee and Danishes, listen to recordings of the Bible, according to people who were there. First might come the Old Testament, perhaps Isaiah or Lamentations. Then came the New, the Gospels, which called out to the listeners drawn from a path known more for its earthly greed than its godly faith: Wall Street. Hitting the play button and then receding into the background was the host, Bill Hwang, the mysterious billionaire trader now at the center of one of the biggest Wall Street fiascos of all time.

The Securities and Exchange Commission is looking into the disaster, which has set teeth on edge in trading rooms across the globe. But those accounts tell only part of the story. The picture that emerges is unlike anything Wall Street might suspect. There are, in a sense, not one but two Bill Hwangs. A generous benefactor to a range of unglamorous, mostly conservative Christian causes, this Hwang eschews the trappings of extravagant wealth, rides the bus, flies commercial and lives in what is, by billionaire standards, humble surroundings in suburban New Jersey.

This one masks his dangerous leveraged bets from public view via financial derivatives, was once accused of insider trading and pleaded guilty in to wire fraud on behalf of his hedge fund, Tiger Asia Management. And here, at last, is where the Bill Hwangs collide. The fortune he amassed under the noses of major banks and financial regulators was far bigger and riskier than almost anyone might have thought possible -- and these riches were pulled together with head-snapping speed.

In fact, it was perhaps one of the greatest accumulations of private wealth in the history of modern finance. And Hwang lost it all even faster. To put that figure in context: Bill Hwang, a name few even on Wall Street had heard until now, was worth more than well-known industry figures like Ray Dalio, Steve Cohen and David Tepper. Much of those riches accrued in the past 12 to 24 months alone, as Hwang began to employ more and more leverage to goose his returns, and as banks, eager for his lucrative trading business, eagerly obliged by extending him credit.

Hwang and his staff. The tale he has told friends and associates is a familiar one of immigrant striving -- followed by financial success that few even on Wall Street can fathom. Hwang grew up in a religious household like roughly a third of Koreans, his parents were Christian. When he was a teenager, the family moved to Las Vegas, where his father got a job as a pastor at a local church.

Hwang has told friends that he arrived in the U. Soon Boat Building Companies In Nigeria Journal after, his father died and his mother moved the family to Los Angeles. Finance beckoned -- and Hwang, it turned out, was very good at it. Hwang quickly distinguished himself by introducing Robertson to the Korean markets -- at the time headed into the teeth of the Asian financial crisis -- and masterminding what turned into a lucrative stake in SK Telecom Co.

Even today, he keeps his desk free of all clutter, the better to focus his mind. Hwang would eventually strike out on his own as a so-called Tiger cub. In late , his Tiger Asia incurred stinging losses on a big bet against Volkswagen. Many other hedge funds were shorting the German automaker, too, and when Porsche Automobil Holding SE abruptly announced that it would raise its stake, all hell broke loose.

Many investors pulled their money, angry that a hedge fund that was supposed to be focusing on Asia somehow got caught up in the massive squeeze. GameStop FrenzyIt was a painful and instructive lesson for Hwang, people who know him say. Millions of amateur investors took up that approach this year during the social media-fueled frenzy over GameStop and other stocks. Latest Technology Headlines.

Piece of SpaceX rocket debris lands at Washington state farm Authorities say a piece of burning rocket debris seen streaking across the Pacific Northwest sky last week crashed on a farm in eastern Washington state.

Western rivers face pinch as another dry year takes shape As several states in the American West face intense drought, water managers say it's shaping up to be a very difficult year for New Mexico farmers because of limited irrigation supplies.

A legal setback for Apple A federal judge has ruled the company knowingly sold MacBook Pros with a cable defect. Groups urge pressure on Mexico to save tiny vaquita porpoise Environmental groups are asking the U. Study: US pesticide use falls but harms pollinators more A new study finds that American farmers are using smaller amounts of pesticides, but those chemicals are more toxic and much more harmful to pollinators, aquatic bugs and some plants. Scientists: Grizzlies expand turf but still need protection Grizzly bears are slowly expanding the turf they roam in the northern Rocky Mountains but scientists say they need continued protections, They have also concluded that no other areas of the country would be suitable for the fearsome animals.

AP Interview: EPA head removes Trump-era science advisers Michael Regan, the new head of the Environmental Protection Agency, is reversing Trump administration actions that sidelined many academic scientists as advisers in favor of industry figures.

EPA head aims to restore 'scientific integrity,' overhauls advisory panels stocked with Trump-appointed industry figures EPA head aims to restore 'scientific integrity,' overhauls advisory panels stocked with Trump-appointed industry figures. In quieter Mexico City, rare bats make an appearance Researchers are stringing mesh nets between trees at the botanical gardens of Mexico City's National Autonomous University, hoping to capture evidence that a rare bat has begun visiting its favorite plants in the metropolis of 9 million.

YouTube tests change to its video rating system The company will hide dislike counts from public view to help prevent targeted harassment campaigns. SpaceX launches test rocket, breaks apart before landing SpaceX has chalked up another failed landing for Starship, its prototype Mars rocket. Virgin Galactic rolls out latest generation of spaceship Virgin Galactic rolled out its latest spaceship as the company gets ready to resume test flights in the coming months at its headquarters in the New Mexico desert.

IRS warns of phishing scam targeting colleges, universities The Internal Revenue Service has issued a warning about a phishing scam targeting students and staff at colleges and universities.

Two space fans get seats on billionaire's private flight A billionaire's private SpaceX flight has filled its two remaining seats with two longtime space fans. West beef up their renewable energy mandates, a push to do so in Arizona has been met by fierce resistance from the Republican governor and GOP-dominated Legislature. Amazon faces biggest Boat Building Companies In Nigeria Quartet union push in its history Amazon is facing the biggest unionization push in its history.

New Android malware discovered Researchers say the app steals data, images and messages from Android phones and can even take over the devices to record. China cuts taxes to spur semiconductor development China has announced tax breaks to spur growth of its semiconductor industry following U.

Even geese got fat quickly during the pandemic The well-fed animals could prove troublesome for local ecosystems.




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