Rate-Rise Bets Heat Up After Release of Fed Minutes (WSJ)
Rate-increase wagers in the eurodollar-futures market, reflecting expected interest rates on dollars held in banks overseas at a certain date, reached $246.7 billion last week, according to Cheng Chen, interest-rate strategist at TD Securities.
Ackman’s hedge fund slammed by Valeant woes (NYP)
Bill Ackman’s annus horribilis continued this week, with his publicly traded Pershing Square Holdings hedge fund down 24.5 percent for the year through Tuesday.
AIG CEO to Face Critics Who Seek Breakup (WSJ)
A representative from hedge-fund Paulson & Co. and a prominent Wall Street analyst—with different but dramatic plans for how insurance conglomerate American International Group Inc (NYSE: AIG) should overhaul itself—are among those expected to attend a meeting Thursday afternoon with the company’s chief executive. They are expected to push CEO Peter Hancock for detailed answers as to why a breakup–either through spinoffs or sales of many of its operations—isn’t in shareholders’ best interests.
Klingon Sword Brandished In Trekkie Trash Dispute, Cops Say (HP)
A Spokane, Washington, man faces assault charges after a neighbor claims he attacked him with a Klingon sword amidst a dispute about trash, local news station KREM 2 reports. A neighbor accused 50-year-old Carlo Morris Cerutti of attacking him after the neighbor left trash in Cerutti's trash can. Cerutti now faces assault charges for allegedly swinging the replica sword. Documents say Cerutti's wife, Joyce, was in the midst of an argument about the trash with the neighbor when things escalated. "Our next door neighbor was evicted and he was throwing his stuff in our garbage can so I took it put it in a bag, took it to him and said Jr., will you please not put your stuff in our garbage can," Joyce told KREM 2. She says the neighbor then threw a bag of trash at her, which she says hit her in the back, and also threw trash in her yard. According to the court documents, the neighbor alleged Cerutti charged out of the house with the replica Klingon sword. The neighbor said he was ultimately able to pull the sword away from Cerutti and then dialed 911.
Diller's Match Group Raises $400 Million in Online-Dating IPO (Bloomberg)
The unit of billionaire Barry Diller’s IAC/InterActiveCorp (NASD: IACI) sold 33.3 million shares for $12 each, according to a statement Wednesday, after offering them for $12 to $14. Based on the IPO price, the company has a market value of about $2.9 billion. The shares, equivalent to about a 14 percent stake in the company, will start trading Thursday, listed on the Nasdaq Stock Market under the symbol MTCH. Match’s (NASD: MTCH) IPO will give public investors a way to bet on the online-dating behemoth, instead of indirectly holding shares of parent company IAC.
Square Raises Less Than Sought in IPO, Testing Valuations (Bloomberg)
Square Inc. (NYSE: SQ) raised about a third less than it sought in its initial public offering as investors balked at a higher valuation for the mobile-payments service. Square and an existing shareholder raised $243 million, selling 27 million shares for $9 each, according to data compiled by Bloomberg, after offering them for $11 to $13 apiece. That not only falls short of the proposed range, but also of the $15.46 a share Square sold stock for in its last private funding round. The IPO price puts the company’s market valuation at about $2.9 billion, excluding options. The company fetched a $6 billion valuation in its latest financing.
Massachusetts Moves to Restrict Daily Fantasy Games to Players 21 and Older (WSJ)
The announcement, made Thursday by state Attorney General Maura Healey, stopped short of declaring the games illegal. Massachusetts will not follow the lead of New York Attorney general Eric Schneiderman, who this week declared daily fantasy “plainly illegal” and filed suit to shut providers down in the state.
Bride destroys dress at 5k color run after groom calls off wedding (UPI)
Just days before the wedding was to take place, Kilee Manulak got a text from her boyfriend of two years saying he no longer wanted to marry her. After a few days of mourning, Manulak decided to have some fun with the situation by publicly destroying her wedding dress at Tampa's Color Fun Fest. Manulak was joined by her bridesmaids at the event, a 5K run were the participants are sprayed with neon paint.