Investment adviser named Andy Zaky started an Apple-only hedge fund with 10.6 million dollars going into the fund from investors. All of the 10.6 millions dollars has been lost as the price of Apple went from $705 in September 2012 to a low of $419 in March 2013.
M2 Telecommunications spent $204 million to buy Dodo which is owned by Larry Kestelman and Michael Slepoy. Larry Kestelman and Michael Slepoy also own 79% of ASX Listed Eftel which M2 will buy for $44 million as part of the deal.
In December 2012, NYSE Euronext, the owner of the New York Stock Exchange was acquired by Intercontinental Exchange (ICE) for $8.2 billion in cash and stock. Before it acquired NYSE Euronext ICE made most of it’s money providing a market for derivative and commodity trading. Trading in commodities and derivatives has become more lucrative than trading in stocks for exchanges. This is because derivative exchanges have less competition and have higher fee income.
Australian Media Company Fairfax Media Ltd has sold it’s United States agriculture-focused media businesses to U.S.-based Penton Media Inc. As media concentration continues across the world.
Danish Tønder bank went into bankruptcy in Nov 2012 the 12th bank since 2008 to fail. Danish bank Sydbank will take over the operations of Tønder bank.