Citadel to Redeem About $500 Million From Melvin Capital

Ken Griffin's Citadel and Citadel partners are planning to redeem roughly $500 million of the $2 billion they put in Melvin Capital Management after Melvin got slammed by short bets on GameStop and other soaring stocks. 


 
Cryptocurrency Miners Move Out of China

The companies face many hurdles as they move their machines out of a country that previously used two-thirds of the global energy dedicated to harvesting bitcoin. 


 
For Buy Now, Pay Later, Investors Need to Shop for Best Deals

Square's deal for Afterpay has had a mixed effect on related stocks in payments and commerce, so investors can start hunting for relative bargains. 


 
U.S. Banks Tread Carefully in Taliban-Controlled Afghanistan

Two major U.S. money-transfer services have suspended payments into Afghanistan, and American banks are more closely scrutinizing transactions with Afghan counterparts. 


 
Ackman Plans to Return Proceeds From $4 Billion SPAC

Hedge-fund billionaire William Ackman, who launched the largest-ever special-purpose acquisition vehicle with an aim of taking a mammoth company public, now plans to return its funds to shareholders in the face of a shareholder lawsuit. 


 
Money Managers Race to Launch First U.S. Bitcoin ETF

While the SEC has indicated being receptive to exchange-traded funds for bitcoin futures, there are risks for individual investors. 


 
First-Time Issuers Help Fuel Junk Bond Rally

Demand for debut bond issues is coming from investors seeking better fixed-income returns amid ultralow interest rates and record savings. 


 
Huarong's Survival Doesn't Mean Chinese Firms Can't Fail

It's tempting to see the bailout of China's largest bad bank as a sign that nothing has changed. But the Huarong saga obscures some significant developments behind the scenes. 


 
Harvest Partners Seeks Single-Asset Secondary Deals for Two Portfolio Companies

Harvest Partners is pitching two continuation funds to support further growth of portfolio companies PRO Unlimited and Neighborly Co. 


 
Quirks in a U.S. Treaty With Malta Turn Into a Tax Play for the Rich

An offshore tax shelter promises rich Americans they can avoid lots of capital-gains taxes by setting up pension plans in Malta-and maybe some can.

(END) Dow Jones Newswires

08-23-21 0015ET