Tuesday, 23 September 2014
Last updated 2 hours ago
Jun 20 2013 | 11:36am ET
Third Point's proposal to partially spin-off Sony Corp.'s entertainment business was not on the agenda at today's annual shareholder meeting. But CEO Kazuo Hirai still managed to make clear that his is not a fan of the suggestion.
Speaking to shareholders at the Tokyo gathering, Hirai said that Sony Entertainment "plays an important role in Sony's future growth."
"This proposal strikes at the heart of what kind of company Sony ultimately will become in the future," he said. "We intend to take our time discussing it."
Third Point has pushed for a spin-off of up to 20% of Sony Entertainment. The hedge fund this week increased its stake in the electronics giant to about 7%, making it the company's largest investor, and again sought a board seat. Sony added three members to its board at the meeting.
Third Point founder Daniel Loeb did not attend today's gathering.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.