Scout Capital Management, a hedge fund co-founded by James Crichton and James Weiss increased its stockholdings in coffee chain, Tim Hortons Inc (NYSE:THI) (TSE:THI) based on its latest 13D filing with the Securities and Exchange Commission (SEC). The hedge fund acquired additional 6, 139,996 shares of Tim Hortons Inc (NYSE:THI) (TSE:THI) bringing its total stake in the company to 8,400,000 shares of 5.5 percent, up from a 1.5 percent stake reported in March. The coffee...
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Gold is in a “bubble” after the best annual run in at least nine decades and will head into a so-called bear market as a stronger U.S. economy helps increase interest rates and cut bullion demand, Societe Generale SA (OTCMKTS:SCGLY) (EPA:GLE) said. On 2 April, Societe Generale SA (OTCMKTS:SCGLY) (EPA:GLE) released special report “The end of the gold era” in which they forecast that gold would fall to $1375/oz by the end of 2013. The ...
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Post Market News Stocks that were active in U.S. trading on Monday include Netflix, Inc. (NASDAQ:NFLX), Terex Corporation (NYSE:TEX), Orchard Supply Hardware Stores Corp (NASDAQ:OSH), Advanced Micro Devices, Inc. (NYSE:AMD) and Viropharma Inc (NASDAQ:VPHM). Market Levels U.S.: Dow Jones: 15,188.41 (+0.78%), S&P 500: 1,638.65 (+0.73%), Nasdaq: 3,452.51 (+0.83%) World Markets: Shanghai: 2,156.21 (-0.27%), Nikkei 225: 13,033.12 (+2.73%), Hang Seng Index: 21,225.90 (+1.22%), TSEC: 7,992.89 (+0.69%), FTSE 100: 6,330.49 (+0.35%), EURO STOXX 50: 2,702.69 (+1.33%), BSE Sensex: 19,325.87 (+0.77%) Metals: Gold: $1,383.10 (-0.32%), Silver: $21.76 (-0.89%),...
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In short position disclosures from the U.K., Odey Asset Management disclosed a short in Talktalk Telecom Group PLC (LON:TALK) last week. The telecom company is involved in the provision of fixed line communications. This is a unique bet as no other fund is known to short in this company. The shares are down 3.5 percent for the year. Talktalk Telecom Group PLC (LON:TALK) is the U.K.’s fourth largest broadband service provider, in terms of client...
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Investment banking, after five long, hard years of negative or anemic growth, job cuts, pay cuts and public lashings, is on the verge of a comeback. Really, it is—if the data can be believed. Investment Banking Activity Amid Rise in Volatility Most analysts agree that the current uncertainty will be with us for a very long time. 2012 was a turbulent year and 2013 looks set to continue in a similar vein. Governments are...
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General Motors Company (NYSE:GM) has yet again announced a recall of about 194,000 sports utility vehicles in the United States and 38,000 vehicles sold in Canada, Mexico and other countries. These vehicles are at risk of an electronic module short circuit that could cause a fire. The company earlier made a similar recall of 249,260 mid-sized SUVs that were sold in the District of Columbia and 20 Snowbelt states. The recalls in August are...
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A worker at a McDonald’s Corporation (NYSE:MCD) restaurant in Pennsylvania has filed a lawsuit against the owner of the franchise location she worked at. She claims that the owner required her to be paid via a debit card which charged fees. As a result, certain hourly employees were paid less than minimum wage, according to the suit. Details On The Suit Against The McDonald’s Franchise ABC News’ Susanne Kim reports that Natalie Gunshannon claims...
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A senior director from Fitch Ratings warned that the banking system in China is out of control and it could face a Japanese-style deflation due to massive problems such as lack of transparency and increase of systemic risk, according to a report from Ambrose Evans-Pritchard of The Telegraph. Charlene Chu’s Observation Charlene Chu, senior director of Fitch Ratings observed, “The credit-driven growth model is clearly falling apart. This could feed into a massive over-capacity...
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Credit Suisse analysts met with KKR management recently. CS has some insights into both company specifics and the private equity industry in general KKR report via CS Last week, we had the opportunity to travel with KKR & Co. L.P. (NYSE:KKR) Chief Financial Officer Bill Janetschek and Head of Investor Relations Craig Larson. Management reinforced many of the key themes from KKR’s recent Investor Day (disciplined growth/expansion across KKR’s Private, Public and Capital Markets...
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India’s relentless search for hydrocarbons to fuel its booming economy has managed the rather neat diplomatic trick of annoying Washington, delighting Tehran and intriguing Baghdad, all the while leaving the Indian Treasury fretting about how to pay for its oil imports, given tightening sanctions on fiscal dealings with Iran. On June 7th the U.S. State Department reluctantly announced that it was renewing India’s six-month waivers for implementing sanctions against Iran, along with seven other countries eligible...
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Descendants of Porsche Automobil Holding SE (ETR:PAH3) (FRA:PAH3) founder Ferdinand Porsche have re-acquired a stake in the holding company firm the engineer and automobile entrepreneur founded in 1931. The Qatar Holding Acquisition Of Porsche The Qatar Holding acquisition of Porsche came after a failed bid by Porsche to take-over VW during the financial crisis. The acquisition’s failure left Porsche on the brink of financial ruin. In 2010, Porsche and two of its former top...
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