No Image

Egypt: Number of students with food poisoning reaches 3,000

The number of Egyptian students who have been struck with food poisoning after eating school meals has increase to 3,000. The Ministry of Health yesterday announced that 312 students were hospitalised with symptoms of food poisoning in the provinces of Suez, Aswan and Cairo. They were transferred by ambulances to hospitals. Read: Egypt: 1,1911 students suspected of having food poisoning In Othman Ibn Affan Primary School in Suez, in the northeast of Egypt, 211 schoolchildren had symptoms of food poisoning. They were admitted to the Suez General Hospital and Suez Health Insurance Hospital, according to Egyptian newspapers. In Rifqa Primary School in Nasr El-Nuba in the Aswan province, south of the country, 98 students showed symptoms of food poisoning and […]



No Image

237 Iraq civilians killed in possible US airstrike in Mosul

A Kurdish news agency reporting directly from Mosul has reported that at least 237 people have been killed in airstrikes in the Mosul Al-Jadida neighbourhood of the war-ravaged city, most of them believed to be civilians. A correspondent working for the Iraqi Kurdish news site Rudaw in Mosul said that 130 of the people who were killed were huddled inside one residential building alone, while around 100 others were hit inside another. While the vast majority of those killed were civilians, some Daesh militants could be among the dead though it is currently unclear. Read: Sunni politician warns US of mounting civilian casualties in Mosul “Some of the dead were taking shelter inside the homes,” said the correspondent, Hevidar Ahmed. […]


No Image

237 Iraq civilians killed in possible US airstrike in Mosul

A Kurdish news agency reporting directly from Mosul has reported that at least 237 people have been killed in airstrikes in the Mosul Al-Jadida neighbourhood of the war-ravaged city, most of them believed to be civilians. A correspondent working for the Iraqi Kurdish news site Rudaw in Mosul said that 130 of the people who were killed were huddled inside one residential building alone, while around 100 others were hit inside another. While the vast majority of those killed were civilians, some Daesh militants could be among the dead though it is currently unclear. Read: Sunni politician warns US of mounting civilian casualties in Mosul “Some of the dead were taking shelter inside the homes,” said the correspondent, Hevidar Ahmed. […]



No Image

Eric Mindich’s $12 Billion Eton Park Is Returning Capital To Investors: Here Are His Biggest Holdings

Once upon a time Eric Mindich was best known for being the Goldman “wunderkind” – the youngest-ever Goldman partner, who parlayed his reputation into the 2004 launch of his hedge fund Eton Park. Unfortunately for Mindich, after over a decade of running other people’s money, the hedge fund apocalypse caught up with the ex-youngest partner, and after a year of losses, which led to an exodus of investors from Mindich’s $12 billion Eton Park Capital Management, which fell about 11% last year, the hedge fund is now said to be returning capital to investors.

According to Bloomberg, Eric Mindich, whose hedge fund startup in 2004 was among the largest in the industry, is returning client capital after 13 years.

Mindich, 49, plans to return all outside funds in New York-based Eton Park Capital Management because he doesn’t believe he’ll be able to run a global, multi-disciplinary investment firm under current conditions, according to a person with knowledge of the matter.

Readers may recall Eric Mindich for two other notable accomplishments: as we first reported back in September 2009, Mindich was none other than the president of the infamous Plunge Protection Team, as discussed in  “What Is Goldman Alum Eric Mindich’s Role As Chair Of The Asset Managers’ Committee Of The President’s Working Group?”

The other notable event involving Mindich was the 2011 report that he was among the hedge fund managers getting direct inside information about the fate of Fannie and Freddie ahead of their bailout, from none other than Hank Paulson, as we discussed in “Hank Paulson Tipped Off The Goldman-Led “Plunge Protection Team” About Fannie Bankruptcy 7 Weeks In Advance.

Paulson… went on to describe a possible scenario for placing Fannie and Freddie into “conservatorship” — a government seizure designed to allow the firms to continue operations despite heavy losses in the mortgage markets.”

 

The gathering comprised some of Wall Street’s most storied investors. Mindich, a former chief strategy officer of New York- based Goldman Sachs, started Eton Park in 2004 with $3.5 billion, at the time one of the biggest hedge-fund launches ever. [Dinakar] Singh, a former head of Goldman’s proprietary-trading desk, also began his fund in 2004, in partnership with private- equity firm Texas Pacific Group Ltd. Lone Pine’s [Stephen] Mandel worked as a retail analyst at Goldman before joining Julian Robertson’s Tiger Management LLC, one of the most successful hedge funds of the 1980s and 1990s. He started his own firm in 1997. [Daniel] Och was co-head of U.S. equity trading at Goldman before founding Och-Ziff in 1994. The publicly listed firm managed $28.9 billion in November. One other Goldman Sachs alumnus was at the meeting: Frank Brosens, founder and principal of Taconic Capital Advisors LP, who worked at Goldman as an arbitrageur and who was a protege of Robert Rubin, who went on to become Treasury secretary.

 

In other words the point of the meeting was nothing short of the former Goldman CEO telling all his former Goldman colleagues just what he was planning on doing in his capacity as Treasury Secretary.

In any case, while we await details as to how this formerly high-flying Icarus crashed so low, here are his biggest holdings:

it is worth noting that NXP, MSFT, and BAC – some of Eton Park’s biggest holdings, tumbled on Tuesday, and one wonders if Mindich was the big redemption mentioned earlier this week by Mohamed El-Erian.

The post Eric Mindich’s $12 Billion Eton Park Is Returning Capital To Investors: Here Are His Biggest Holdings appeared first on crude-oil.news.


No Image

Sharjah ruler apologises for comments on Algerian independence

The Ruler of Sharjah, Sultan Bin Mohammed Al-Qasimi, has apologised to Algeria after statements made last week where he stated that the French General Charles de Gaulle only granted independence to the north African state to satisfy the late Egyptian President Gamal Abdel Nasser. “If our brothers in Algeria saw this as an injustice against them, I apologise for that and for them all,” a UAE news agency quoted Al-Qasimi as saying. #حاكم_الشارقة : الأشقاء في الجزائر لهم كل الود والاحترام وحديثي في معرض لندن فهم خطأ بسبب الاختصار. pic.twitter.com/H5EvdRGmYC — إذاعة الشارقة (@sharjah_radio) March 23, 2017 “I am not ignorant of the history and I know the history of Algeria well and all what I said at the London […]


No Image

Sharjah ruler apologises for comments on Algerian independence

The Ruler of Sharjah, Sultan Bin Mohammed Al-Qasimi, has apologised to Algeria after statements made last week where he stated that the French General Charles de Gaulle only granted independence to the north African state to satisfy the late Egyptian President Gamal Abdel Nasser. “If our brothers in Algeria saw this as an injustice against them, I apologise for that and for them all,” a UAE news agency quoted Al-Qasimi as saying. #حاكم_الشارقة : الأشقاء في الجزائر لهم كل الود والاحترام وحديثي في معرض لندن فهم خطأ بسبب الاختصار. pic.twitter.com/H5EvdRGmYC — إذاعة الشارقة (@sharjah_radio) March 23, 2017 “I am not ignorant of the history and I know the history of Algeria well and all what I said at the London […]


No Image

PetroChina Mulls $85 Billion Spinoff

PetroChina may be considering a spinoff for its oil and gas pipeline business, which could be worth as much as $85 billion, according to investment analysts. The suggestion has been sparked by expectations that China’s largest oil producer will report its worst financial figures in history, and by energy industry reforms being drafted by the central government. The network spans across China, from the west to the east, supplying crude oil and natural gas to all major cities in the country. Its total length is 48,200 miles, of which more than…


No Image

The Center Folds – GOP Loses Obamacare Reform Votes From ‘Tuesday Group’

It is not just the Freedom Caucus tails of the Republican Party that are holding out from the Obamacare reform vote, GOP centrists in the House are fleeing from their party’s first major legislative test of President Trump’s reign.

As The Hill reports, centrist defections in the last 24 hours include Rep. Charlie Dent (R-Pa.), the co-chairman of the moderate Tuesday Group, which has roughly 50 members.

Reps. Dan Donovan (R-N.Y.), David Young (R-Iowa), Chris Smith (R-N.J.), Frank LoBiondo (R-N.J.), and Jaime Herrera Beutler (R-Wash.), all centrists, have also announced their opposition to the bill. 

 

Reps. Leonard Lance (R-N.J.) and John Katko (R-N.Y.), two other centrists, earlier announced their opposition.

 

That brings the number of centrist no votes to at least eight, though there could be more.

Republican leaders can afford 22 defections and still pass their legislation, which all House Democrats are expected to oppose.

Centrists warn that their constituents would lose coverage under the repeal bill, and some have even said that ObamaCare is better than the Republican bill. A group of centrists met with leadership in Speaker Paul Ryan’s (R-Wis.) office Wednesday night to discuss where they are on the legislation and their concerns.

“Everybody’s frustrated, but some moved, some stayed the same, and some got more equivocal,” said a GOP lawmaker who attended the meeting.

Finally, The Hill points out that deep cuts to Medicaid in the GOP bill, and the end of ObamaCare’s expansion of the program, are also major sources of centrist objections.

“The overriding concern I have is the Medicaid expansion being significantly altered,” Smith, whose home state of New Jersey accepted the expansion, told the Asbury Park Press. “It affects so many of our disabled individuals and families, and the working poor.”

Many centrists remain undecided, including electorally vulnerable members like Rep. Barbara Comstock (R-Va.).

The center is not holding as RINOs emerge everywhere when the vote actually means something.

Ironically the Freedom Caucus seems to be coming around…

Lengthy standing ovation from the Freedom Caucus when @POTUS walked into the Cabinet Room just now. Big momentum toward #RepealAndReplace. pic.twitter.com/N1FLGAVFMN

— Cliff Sims (@CSims45) March 23, 2017

The post The Center Folds – GOP Loses Obamacare Reform Votes From ‘Tuesday Group’ appeared first on crude-oil.news.