George Soros Comes Back to Trading With Bearish Bets (WSJ)
After a long hiatus, George Soros has returned to trading, lured by opportunities to profit from what he sees as coming economic troubles. Worried about the outlook for the global economy and concerned that large market shifts may be at hand, the billionaire hedge-fund founder and philanthropist recently directed a series of big, bearish investments, according to people close to the matter.
Europe Prepares to Pick Who Can Run Greece’s Banks (WSJ)
Under pressure from international creditors, the Greek Parliament established rules for who can and who can’t serve on bank boards, effectively banishing local business magnates and former politicians. The rules are extensive and complex. Directors must have worked in banking for at least a decade, for instance. But directors who head committees that control decisions about risk and personnel can’t have worked in Greece’s financial sector in the past 10 years.
Pharma-bro’s odd story might make it to Broadway (NYP)
A group of musical theater writers started raising money on Tuesday for a new satirical musical about the alleged Ponzi schemer, called, “Martin Shkreli’s Game: How Bill Murray Joined the Wu-Tang Clan.” The play centers on Shkreli’s $2 million purchase last year of, “Once Upon a Time In Shaolin,” the album by Staten Island rap group Wu-Tang Clan. Soon after the purchase came to light, fake reports surfaced that the deal included a clause that allowed Wu-Tang to partner with Murray to steal back the album — which ended up becoming the inspiration for the show...One of the songs in the hour-long production is called, “I’m Martin F***ing Shkreli And You Can All Go F**k Yourselves.”
UBS to Cut Managers at U.S. Wealth Unit, Recruit Fewer Advisers (Bloomberg)
UBS Group AG, which said last month it’s looking for ways to cut costs, is eliminating some management positions in its U.S. wealth unit and reducing the number of financial advisers recruited from competitors.
New Mexico man sets own apartment on fire because neighbors were having really loud sex (NYDN)
Tired of hearing his neighbors having loud sex, a hot-headed New Mexico man set his own apartment on fire to get some peace and quiet in a jail cell. Reuben Cook, 36, told police he “tried to burn anything he could think of” in his apartment on Sunday at about 10 p.m., leaving minor fire damage in four different spots, the Albuquerque Journal reported. “He stated that he heard people having sex upstairs and making a lot of noise,” according to Cook’s criminal complaint. “Mr. Cook stated that by starting the fires he could go to ‘prison’ and get away from the noise.”
Ousted Lending Club CEO mulls takeover of his old company (NYP)
Ousted Lending Club CEO and co-founder Renaud Laplanche has been speaking to private equity firms and banks about financing a potential buyout of the online lender, according to people familiar with the matter. The French entrepreneur, one of the highest-profile names in the fledgling industry, left Lending Club in May after an internal probe found the company had falsified documentation when selling $22 million of loans to an investor.
Blackstone Has Over $200 Million Profit in Hawaii Deal (Bloomberg)
Blackstone Group LP agreed to sell the leasehold on the Hyatt Regency Waikiki Beach Resort and Spa to Mirae Asset Global Investments Co. for $780 million, garnering a profit of more than $200 million in three years, according to a person with knowledge of the pending transaction.
Gross Reaps Biggest Inflow in More Than a Year at Janus Fund (Bloomberg)
Investors poured an estimated $144 million into the Janus Global Unconstrained Bond Fund in May, the most new money going to Bill Gross’s mutual fund since December 2014. The fund, which Gross runs with assistance from portfolio manager Kumar Palghat, is up 3.3 percent this year, outperforming 76 percent of its peers, according to data compiled by Bloomberg.
Floridians Are In A Fierce Battle Over The Name Of ‘Lake Horney’ (HP)
Barry Zimmerman of Lakeland lives on the shores of Lake Horney, but is petitioning to have its name changed. It seems Zimmerman is sick of the salacious jokes that keep popping up when people mention Lake Horney. Zimmerman petitioned the U.S Board of Geographic Names to rename the lake, according to the Lakeland Ledger newspaper. Zimmerman told the board he does not want to “denigrate Mr. Horney’s contributions to the history of Lakeland” but wants the name changed because it is a “homonymic to a vulgar term meaning concupiscent or libidinous.”