A hedge fund that agitated for a board shake-up last year at US department store operator Kohl’s Corp, now wants the company to replace its current chief executive and board chairman, according to a report by Reuters. The report cites a letter sent to Kohl’s by Ancora Holdings, which owns a 2.5% stake in the business, as requesting that both CEO Michelle Gass and board chairman Peter Boneparth are replaced. Anocora wants executives with experience in turning companies around to be appointed instead. The letter, which was signed by Ancora CEO Frederick DiSanto and President James Chadwick, did not say

C Capital is planning to raise $500 million for investments in  blockchain assets as well as the credit and private equity spaces on the assumption that the prices of both digital assets and private companies are bottoming out, according to a report by Bloomberg.

Hedge funds have upped both their bullish and bearish positions by the fastest rate seen in five years, buying up single stocks and ETFs as the S&P 500 slumped by almost 5% last week, according to a report by Bloomberg. The report cites the latest prime broking data from Goldman Sachs as revealing that when considering both long and short exposures, the total gross trading flow chalked up its largest notional increase since 2017 last week, rising for the fifth straight week in a row. Hedge funds tracked by Morgan Stanley meanwhile, raised bearish bets but refrained from cutting their

Hedge funds dumped bullish bets on gold and increased their short positions last week on the back of August’s surprising inflation figures, according to a report by Kitco News. The report cites last week’s trade data from the Commodity Futures Trading Commission as revealing that hedge funds have now adopted a bearish position on gold for the fifth straight week. Speculative interest in the precious metal has only worsened as traders prepare for the Federal Reserve to raise interest rates another 75 basis points and signal a further commitment to their aggressive monetary policy stance. The CFTC’s disaggregated Commitments of

Billionaire hedge fund boss Ray Dalio believes Stock markets will plunge by 20% if the US Federal Reserve raises interest rates to 4.5% to tackle inflation, according to a report by Reuters. The report cites a LinkedIn post in which the the Bridgewater Associates boss predicted a sharp fall in stock markets as the US Federal Reserve takes an aggressive approach to interest rate rises in a bid to control inflation. Dalio’s comments came as the latest inflation data showed an unexpected increase in US consumer prices in August leading to the prospect of another interest rat hike nest week.

Philip Morris International (PMI) is coming under pressure to up its $16 billion bid for Swedish Match following news that some of the world’s largest hedge funds have built stakes in the smokeless tobacco company, according to a report by BNN Bloomberg. The report cites unnamed sources as revealing that Davidson Kempner Capital Management and HBK Capital Management are among the funds to have built sizeable stakes Swedish Match. Both are reportedly approaching the 5% limit which equates to nearly $800 million in stock, beyond which disclosure would be required. With DE Shaw & Co, Farallon Capital Management and Pentwater

Third Point founder Daniel Loeb has cooled on his plan to see Disney’s sports broadcaster ESPN spun off into its own standalone business, according to reports.