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Tag: fund

US hedge fund wants break-up of £35bn Shire

US hedge fund wants break-up of £35bn Shire

Business
A US hedge fund is demanding a string of divestments at the FTSE-100 biotech group Shire, underlining growing interest among activist investors in large European companies.Sky News has learnt that Sachem Head Capital Management is urging the board of Shire, which specialises in treatments for rare diseases and neuroscience products, to explore a sale or spin-off of several of its assets.The move, which has been raised during discussions between the hedge fund and Shire directors in recent months, comes after Sachem Head disclosed during the summer that it had acquired a small stake in the pharmaceuticals group.Sachem Head's call for Shire to assess the merits of a separation of some of its divisions has not yet resulted in a formal letter to the company's board, according to a person close...
£100m fighting fund to tackle terror online

£100m fighting fund to tackle terror online

Technology
Tech companies have begun investing huge amounts of money to help in the fight against extremism.Facebook, Google, Microsoft and Twitter are directly funding an increasing number of projects, not just online, but in local communities.Sky News has been told the investment, aimed at countering propaganda from terror groups like ISIS, currently tops more than £100m and is separate to the many millions already invested in policing and removing extremist content online.:: Amber Rudd plans tougher laws for terrorists using the internetIt comes at a time of fierce criticism from politicians that the tech sector is not doing enough to deal with extremist content online.Richard Allan - Facebook's Vice President of Policy for Europe, the Middle East and Africa - said their investment in counter-extr
Mutual Fund folios surpasses 6 crore mark at August-end on high retail push

Mutual Fund folios surpasses 6 crore mark at August-end on high retail push

Finance
Showing a growing interest for mutualfunds among investors, the number of folios has grown by 2.4 per cent to cross 6 crore at the end of August, according to a report by ICRA. The total folio count at the end of August stood at 6.08 crore, 2.4 per cent higher compared to July. The growth was primarily on the back of 10.9 lakh new folios added to the equity category (including equity-linked saving schemes) and another 2.36 lakh new folios to the balanced category, the report noted. Besides, investor awareness initiatives by Asset Management Companies (AMC) and regulatory bodies are helping to enhance the financial awareness and maturity of investors, which in turn is driving this growth, it added. Folios are numbers designated to individual investor accounts, though one inv...
China-backed fund nears Imagination bid

China-backed fund nears Imagination bid

Business
A Chinese-backed fund is to test Theresa May's pledge to subject foreign takeovers‎ of British companies to closer scrutiny by lodging a formal bid for the struggling chipmaker Imagination Technologies.Sky News has learnt that Canyon Bridge Capital Partners has hired advisers from the Wall Street bank Citi to work on an offer for Imagination, one of Britain's leading technology businesses.Sources said this weekend that Canyon Bridge had made significant progress during talks with Imagination in recent weeks, with a formal bid expected to be presented to the London-listed group in the next fortnight.They added that talks between Imagination and other unidentified parties were ongoing, and cautioned that Canyon Bridge could yet decide against making a formal bid.Canyon Bridge has offices in
Social Security trust fund projected to tap out in 17 years

Social Security trust fund projected to tap out in 17 years

Finance
Mulvaney: Trump wants to protect entitlementsIf Congress doesn't act soon, tens of millions of Americans will only receive about three-quarters of their Social Security benefits when they retire in the future. In an annual report released Thursday, trustees of the government's two largest entitlement programs -- Social Security and Medicare -- urged lawmakers to act quickly to assure Americansthey'll be able to get their full retirement benefits. The trustees projected that the Social Security trust fund will be tapped out by 2034. While that projection is unchanged fromlast year's annual report card, the trustees warned of persistent long-term challenges ahead if fixes aren't made to pay for the program. "The trajectory is still alarming," said Tom Price, secretary of the Health and Hum...