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Third Point claims 300 percent return on activism since 2011

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BOSTON (Reuters) – Pushing companies to perform better has earned Third Point a 300 percent return in the last eight years, the hedge fund told investors in a letter on Thursday, praising management at some of its targets for taking the right steps. FILE PHOTO: Daniel S. Loeb, founder of Third Point LLC, participates in Read More

Zargon Oil & Gas Ltd. Announces Appointment of Additional Director

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CALGARY, Alberta, Feb. 21, 2019 (GLOBE NEWSWIRE) — Zargon Oil & Gas Ltd. (the “Company” or “Zargon”) (TSX SYMBOL:  ZAR) announces the appointment of Glenn Koach to the Board of Directors effective February 21, 2019. Mr. Koach is currently Co-Founder/Portfolio Manager of Concise Capital Management, LP. (“Concise”). Concise is an SEC-registered investment adviser with currently Read More

‘Not an atomic bomb’: Huawei founder thanks Trump for helping to ‘promote’ 5G technology

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The founder of Chinese tech giant Huawei has thanked the Trump administration for helping him to “promote” 5G technology in advance of an expected ban on the company operating in the US over concerns about “national security.” During an interview on CBS This Morning, Ren Zhengfei said, with a hint of sarcasm, that US officials Read More

Swedish and Estonian watchdogs open joint Swedbank probe

7 hours ago DieselGasoil Comments Off on Swedish and Estonian watchdogs open joint Swedbank probe
STOCKHOLM (Reuters) – Sweden’s and Estonia’s financial watchdogs have opened a joint investigation following a media report linking Swedbank to a Baltic money laundering scandal involving Danske Bank, they said on Thursday. FILE PHOTO: Swedbank’s logo is pictured on its Lithuanian headquarters in Vilnius, Lithuania, in this May 10, 2014 file photo. REUTERS/Ints Kalnins/File Photo Read More

Former teacher & mother of 4 becomes Russia’s 2nd female billionaire

9 hours ago DieselGasoil Comments Off on Former teacher & mother of 4 becomes Russia’s 2nd female billionaire
The owner of Russia’s biggest web retailer, Tatyana Bakalchuk, has entered the list of Russian billionaires. She managed to build her company, Wildberries, from scratch into a US$1.2 billion firm. This year, Wildberries – the leader of Russian online retailing, where you can find hundreds of thousands of items from clothing to electronics – has Read More

Swedish watchdog calls Swedbank money laundering report 'very serious'

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STOCKHOLM (Reuters) – Sweden’s financial watchdog said allegations in a media report linking Swedbank to a Baltic money laundering scandal, involving Danske Bank were “very serious” as shares in the Swedish bank tumbled on Thursday. Danske is being investigated in five countries over some 200 billion euros ($226 billion) of suspicious payments from Russia, ex-Soviet Read More

Investor Browder to file criminal complaint against Swedbank

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STOCKHOLM (Reuters) – Bill Browder, founder and CEO of investment fund Hermitage Capital Management, intends to file a criminal complaint against Swedbank with Swedish authorities over its involvement in alleged Baltic money laundering transactions, he said on Thursday. “It is my intention to file a criminal complaint against Swedbank,” Browder told Reuters, declining to specify Read More

Arrested US investor faces 10 years in Russian prison for major fraud

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The founder and senior partner of Baring Vostok private equity fund, Michael Calvey, has been officially charged with a large-scale fraud involving a Russian bank, TASS cites a source in Russian law enforcement as saying. The US citizen, who was put in pre-trial custody by a Moscow court, could get up to 10 years in Read More

Samsung announces folding phone with 5G at nearly $2,000

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SAN FRANCISCO (Reuters) – Samsung Electronics Co Ltd on Wednesday unveiled a nearly $2,000 folding smartphone in a bid to top the technology of Apple Inc and Chinese rivals and reignite consumer interest in a massive consumer electronics category that had its worst sales ever last year. The Galaxy Fold will go on sale on Read More