Aurelia Butler

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    in Economy

    Hedge funds perform better with Democrats in White House, HFR data shows

    LONDON (Reuters) – Hedge fund performance, on average, is better when the U.S. president is a Democrat, data from research firm HFR showed on Tuesday, as U.S. voters headed to the polls.Under Democratic Party presidents, hedge funds averaged a 10.2% annualized return, whereas under a Republican president hedge funds returned 8.7% on average, showed the data from Hedge Fund Research’s main index which tracks the returns of global hedge funds.This data from HFR’s HFRI Fund Weighted Composite Index tracked hedge funds’ performance averaged over presidential terms from 1990 to 2024.Hedge funds performed roughly twice as well when the House and Senate majority were in one party than they did with a split legislative body, the HFR data showed.    Performance when Democrats had a majority in the U.S. Congress came in higher than with Republicans, the data also showed.By strategy, stock hedge funds fared the best under Democrats — averaging a 12.7% return compared to 9.6% under the Republicans, over the last 34 years, said HFR data. Hedge funds trading M&A deals and the relative value between different financial assets also had higher returns during years when the president was a Democrat, the data showed.Funds speculating on macroeconomics or so-called macro hedge funds were the only strategy listed with higher returns during Republican presidents, according to HFR. The dispersion between hedge fund performance, or the difference between the best and worst performing funds differed the most during years when the president was a Democrat, it added.  Hedge funds’ annualized performance averaged the highest during the first year of a president’s term and came in lowest during two term presidencies in the second, sixth and last year.With 2008 and the financial crisis removed, the result skewed marginally towards Republicans. Hedge funds returned 10.7% with Republicans during these years, compared to a 10.2% result with presidents from the Democratic Party, HFR said.   (This story has been refiled to fix a typo in ‘tracked,’ in paragraph 3) More

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    US green power demand expected to grow regardless of election outcome

    COPENHAGEN (Reuters) -Demand for green power in the United States will grow regardless of who is the country’s next president, major players in the wind energy sector Vestas and Orsted (CSE:ORSTED) said on Tuesday.Offshore wind developers have seen profits shrink in recent years due to rising raw material costs, high interest rates, inadequate grid connections, supply chain bottlenecks, and Chinese competition, prompting companies like BP (NYSE:BP) and Equinor to scale back their ambitions.In the United States, the nascent offshore wind industry has been roiled by cancelled projects, postponed lease sales and a construction accident at the country’s first major offshore wind project.Orsted on Tuesday flagged construction problems and higher costs at a large U.S. offshore wind project.Democratic Vice President Kamala Harris has championed ambitious offshore wind targets as part of President Joe Biden’s administration.She is in a tight race with Republican candidate Donald Trump, who has said he will scrap offshore wind projects through an executive order on his first day in office if he retakes the White House, claiming wind turbines ruin the environment and kill birds and whales.”We see many – both corporates and states – having an increased demand from reshoring of industries and from the tech industry,” Orsted CEO Mads Nipper told journalists on Tuesday.”We see it as an all boats rise situation where all energy sources, not least for electricity, are needed no matter who ends up in the White House.”NEW GREEN ELECTRICITY NEEDEDShares of Vestas, the world’s largest wind turbine manufacturer, slumped more than 10% on Tuesday after the company warned of lower profit margins this year.Vestas CEO Henrik Andersen downplayed investor concerns around Tuesday’s election outcome.”I don’t think there’s any of the order intake that is dependent on today’s election,” he said at an analyst call.”There is a general need and demand higher than the supply right now for new green electrons to data centres among other things,” he added.Orsted, the world’s biggest offshore wind farm developer, last year booked massive impairments for cancelled U.S. offshore projects due to rising inflation, higher interest rates and supply chain delays.”It’s an industry being built from scratch and it is being very strongly supported by not least the northeastern states, where the alternatives for energy supply and especially green energy supply are difficult,” Nipper said.Orsted said scarce installation vessels and problems with installing an offshore substation at the 704 megawatt (MW) Revolution Wind project contributed to costs rising by another 1.7 billion Danish crowns ($248 million) in the third quarter. Group operating profit fell 14% to 4.44 billion crowns in the quarter. Analysts had on average forecast 4.61 billion in a company-provided poll.Profits were helped by a reversal of some of the losses Orsted booked last year in the United States. Its shares were down 1.5% at 1239 GMT. They have risen some 12% this year but are down more than a third from their peak in early 2021.($1 = 6.8472 Danish crowns) More

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    in Economy

    More muddling through won’t deliver the growth Britain craves

    $1 for 4 weeksThen $75 per month. Complete digital access to quality FT journalism. Cancel anytime during your trial.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print edition More

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    in Cryptocurrency

    Xinteria Surpasses $1 Billion in Trading Volume, Unveils Innovative Market-Making Technology

    Leading DeFi Market Maker Seeks New Clients Amidst Technological AdvancementsXinteria, a pioneering decentralized finance (DeFi) company specializing in market making, announces that it has surpassed $1 billion in trading volume. This significant milestone demonstrates Xinteria’s role in shaping the DeFi landscape and its commitment to innovation in financial markets.Building on this achievement, Xinteria has unveiled a suite of cutting-edge market-making technologies designed to enhance liquidity and efficiency across decentralized exchanges. These advancements position the company at the forefront of DeFi innovation, offering services to clients worldwide.Xinteria’s new technology incorporates advanced algorithms and real-time analytics to optimize trading operations. This results in improved price stability and reduced slippage, benefiting traders and platforms within the DeFi ecosystem. The company’s solutions are tailored to meet the evolving needs of exchanges, token projects, and institutional investors navigating the complex DeFi landscape.About XinteriaXinteria is a leading DeFi company specializing in market-making services. Founded in 2020, the company leverages advanced technology and deep industry expertise to provide liquidity solutions across multiple decentralized platforms. Xinteria is committed to fostering innovation and efficiency in the DeFi space, offering clients exceptional service and strategic insights.ContactPressXinteriapress@xinteria.comThis article was originally published on Chainwire More

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    in Economy

    China to issue first dollar bond in three years in Saudi Arabia

    $75 per monthComplete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print edition More

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    in Cryptocurrency

    Bybit Powered by SATOS Introduces Exclusive Referral Bonuses for Dutch Users

    Bybit (powered by SATOS) is pleased to announce it has elevated Bybit’s global referral program with a special Dutch chapter, the exclusive Referral Rush for users in the Netherlands. Offering a 10,000 USDT prize pool in addition to the current referral rewards, users of Bybit.nl have the opportunity to unlock up to 100 USDT in rewards by recommending their digital asset platform of choice to their friends and family this golden season.The general referral program requires simple referral code generation and sharing steps, after which the referee may receive up to 1,710 USDT or 30% in rewards based on the invitee’s trading activities. From Nov. 01 to Nov. 30, 2024, users of Bybit.nl have the opportunity to unlock additional rewards by recommending their digital asset platform of choice to their friends and family. To qualify, the referee shall ensure the invitation meets the following criteria: Successful referees will share in the 10,000 USDT prize pool and receive up to 100 USDT per referral, while the invitee will also get a bonus for starting their crypto trading journey with Bybit through the various rewards tracks. Spot trading with zero fees will not be counted towards the total trading volume at this time. Users can read more about the program and the terms and conditions: https://www.bybit.nl/en-NL/promo/campaign/NL_REFERRAL_RUSH#Bybit / #TheCryptoArkAbout Bybit Powered by SATOSIn June 2023, Bybit formed a strategic alliance with SATOS, one of the oldest crypto service providers operating in the Netherlands and Belgium since 2013. This partnership is a testament to their commitment to providing the best services to their users in line with regulatory guidelines, and ensuring the delivery of high-quality services to their users.ContactHead of PRTony AuBybittony.au@bybit.comThis article was originally published on Chainwire More

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    in Cryptocurrency

    Jambo and Lif3 Partner to Make Crypto Payments Accessible to Millions of Users in Emerging Markets

    Founded by serial entrepreneur and web3 investor Harry Yeh, Lif3’s strategic collaboration merges its innovative DeFi ecosystem with Jambo’s expertise in mobile technology tailored for emerging economies, facilitating developing countries’ access to the world’s financial market.Emerging markets face unique challenges that require innovative solutions for real problems. In regions like Africa, where 57% of the ~1.5bn population remains unbanked and 50% without access to a smartphone, the collaboration between Jambo and Lif3 is designed to address these issues by providing secure, user-friendly access to real-time crypto payments. This initiative will empower millions by facilitating enhanced connectivity, improved security, and streamlined access to digital financial services. Additionally, the Lif3 mobile app will be pre-installed on the JamboPhone, complemented by quests and educational programs to help users familiarize themselves with the new technology while earning rewards.The Jambo and Lif3 collaboration not only enhances access to digital technologies but also paves the way for financial inclusion in regions where traditional banking has been out of reach. This initiative directly targets the gap in financial services, aiming to bring the unbanked into the economic fold and ignite economic growth from the ground up.About JamboJambo – The Most Globally Distributed DePIN Smartphone. Jambo’s vision is to bring emerging markets on-chain through building the largest web3 mobile infrastructure network. Jambo is backed by investors globally, including Paradigm, Tiger Global, Pantera, Delphi and more. Jambo is onboarding the next billion users to web3 with the JamboPhone 2, a premiere web3 Android smartphone starting at only $99 preloaded with the world of web3 at their fingertips. The Jambo Ecosystem is preinstalled on the phone and features web3 mobile games, wallets, payment infrastructure, and more.Users can learn more about the latest from Jambo on Twitter/X and purchase their JamboPhone at jambophone.xyz, and join the Jambo Community and lead web3 adoption with them on Telegram.To learn more about Jambo, users can visit jambophone.xyzSocial MediaX | Facebook (NASDAQ:META) | Instagram | TikTok | TelegramAbout Lif3Lif3.com is revolutionizing the blockchain industry with its omni-chain DeFi ecosystem and curated Layer-1 blockchain. The self-custody Lif3 Wallet, available on the App Store and Google (NASDAQ:GOOGL) Play, empowers users by unlocking the full potential of Web3, transforming consumer DeFi, Gaming, iGaming, music, entertainment, and more. $LIF3 is currently listed on Bitfinex, Bitmart, and MEXC.To learn more about lIF3, users can visit lif3.com. For more information, users can contact: media@lif3.comSocial MediaX | Telegram | Discord | News and UpdatesAbout Quantum Fintech GroupQuantum Fintech Group is a private investment group founded in 2020, and is focused on providing superior returns in the alternative asset space focusing specifically on blockchain investments.Social Media: XContactChantel Ellowaymedia@lif3.comThis article was originally published on Chainwire More

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    in Cryptocurrency

    1,600 BTC Transferred to Mysterious Whale Wallet, What’s Going On?

    This transfer is one of several large Bitcoin transactions that have occurred over the last 12 hours. According to Whale Alert, there have been five major Bitcoin transactions, including this one. The remaining four transactions involved the transfer of 1,500, 1,800, 2,000 and 2,100 BTC between unknown wallets.The most recent transaction was 1,500 BTC worth $103,492,934, sent from an unknown wallet to another unknown address. In three different transactions, 1,837 BTC worth $124,931,007; 2,100 BTC worth $142,920,979 and 2,000 BTC worth $135,826,428 were transferred among unknown wallets. Large transfers, particularly between wallets, may be moved to private or cold storage, which may indicate a long-term holding plan, reducing selling pressure and potentially supporting price stability. The move could also be an OTC (over-the-counter) transaction, which occurs outside of an exchange. While the intent behind these recent transfers remains unknown, the activity could signal preparations for large future moves on the crypto markets. The market is watching closely for further hints in the coming days.According to Santiment, there are 211,540 nonempty Bitcoin wallets compared to three weeks ago, a strong sign of FUD that is typically associated with future bullish price performances.At the time of writing, BTC was up 0.12% in the last 24 hours to $68,801. On the contrary, U.S. exchange-traded funds investing in Bitcoin experienced their largest daily net outflow to date. Bloomberg reported that the group of 12 Bitcoin ETFs, including BlackRock (NYSE:BLK) and Fidelity Investments, lost $579.5 million on Monday (NASDAQ:MNDY).This article was originally published on U.Today More