Back in pre-financial crisis days, the UBS trading floor in Stamford, Conn., — once the world’s largest — had more than 5,000 traders slamming phones and kicking trash cans. Fast forward to today and the near-vacant building — larger than a football field — has been put on the sale block.
Recently, some of the biggest names in business, from Goldman Sachs to Bank of America and Mastercard, have quietly patented some of the most promising blockchain technologies for themselves. Through mid-November, the number of patents that companies have obtained or said they’ve applied for has roughly doubled since the start of the year.
The $1.8 billion Senfina, which allocated money among a group of 11 portfolio managers, lost 6 percent last month alone, Bloomberg reported in December. It was a short-lived experiment for Blackstone, which started Senfina in 2014 as its first in-house, multi-manager fund.
In an another tough year for hedge funds — where the industry was forced again to defend its high fees and generally underwhelming returns — Jason Mudrick’s $1.4 billion Distressed Opportunity fund is putting the finishing touches on a dramatic turnaround. After finishing 2015 down 25 percent, Mudrick’s distressed debt fund is up nearly 40 percent through Dec. 16, The Post has learned.
Wells Fargo spent millions of dollars on consultants and reassigned employees to different groups across the firm to work on its living will, people familiar with the matter said. And in October Wells Fargo said it reorganized the office related to living wills and expected to double that staff. Less than two months later, regulators told Wells Fargo it was the only bank whose makeup test didn’t merit a passing grade.
Even by Monte dei Paschi’s standards, today’s market moves are proving more volatile than most. The bank’s junior bond prices are following its share price today, falling to their lowest ever levels in the wake of a fresh bout of concerns over its ability to avoid a taxpayer bailout. One €369m subordinated bond has fallen to 46 cents on the euro this morning in a sign of investor fears over the impact of a state rescue that would force junior debt holders to take losses.
Roman Fedortsov is a deep sea fisherman in Russia. And he’s been taking photos of OH MY GOD WHAT IS THAT? The fisherman is reportedly based in Murmansk, which is a real place in Russia, and not another planet where Hell has opened up and set demons free to roam the land and the seas.