Analyst Accused of Insider Trading Said he Saved ‘Dying Fund'
A former Janus Henderson analyst accused of insider trading said he didn't closely read compliance documents as he was too busy trying to save the firm's 'dying fund.'
Redinel Korfuzi is accused of conspiring with his sister and others to trade on insider information he obtained while working as an analyst on Janus Henderson's European equity investment team.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
an hour ago
- Business Upturn
Axiom Intelligence Acquisition Corp 1 Announces Completion of $200 Million Initial Public Offering
New York, New York, June 20, 2025 (GLOBE NEWSWIRE) — Axiom Intelligence Acquisition Corp 1 (NASDAQ:AXINU) (the 'Company') today announced the closing of its initial public offering of 20,000,000 units, which includes 2,500,000 units sold pursuant to the partial exercise of the underwriters' over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $200,000,000. The Company's units commenced trading on the Nasdaq Global Market ('Nasdaq') under the symbol 'AXINU' on June 18, 2025. Each unit issued in the offering consists of one Class A ordinary share of the Company and one right to receive one tenth (1/10) of one Class A ordinary share upon the consummation of the Company's initial business combination. Once the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to be listed on Nasdaq under the symbols 'AXIN' and 'AXINR,' respectively. The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any stage of its corporate evolution or in any industry or sector, the Company intends to focus its initial search on companies in the European infrastructure industry. The Company's management team is led by Richard Dodd, its Executive Chairman, Douglas Ward, its Chief Executive Officer, Daniel Mamadou-Blanco, its President, Robert Dilling, its Chief Financial Officer, and Chris Ackermann, its Chief Operating Officer. Dr. Claire Handby, Steven Leighton and Christopher Ellis are the Company's independent directors and Sankalp Shangari and Wendy Li are its senior advisers. Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, acted as the lead book-running manager for the offering. Seaport Global Securities LLC acted as joint book-runner. A registration statement relating to the units and the underlying securities was declared effective by the Securities and Exchange Commission on June 17, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering was made only by means of a prospectus, copies of which may be obtained from Cohen & Company Capital Markets, 3 Columbus Circle, 24th Floor, New York, NY 10019, Attention: Prospectus Department, or by email at: [email protected]. Copies of the registration statement can be accessed for free through the SEC's website at Forward-Looking Statements This press release contains statements that constitute 'forward-looking statements,' including with respect to the anticipated use of the net proceeds of the offering and the Company's search for an initial business combination. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and final prospectus for the offering filed with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law. Contact Information: Axiom Intelligence Acquisition Corp 1Richard Dodd, Executive Chairman / Doug Ward, Chief Executive Officer [email protected] +44 20 3973 7928
Miami Herald
7 hours ago
- Miami Herald
Report: Maserati Under Threat of Being Sold by Parent Company
According to a new report published by Reuters, the storied Italian performance powerhouse, Maserati, may be headed toward an uncertain future. The newswire states that "two sources familiar with the matter" told them that parent company Stellantis is exploring a potential sale of the Trident as part of a broader review of its massive portfolio of 14 distinct automotive brands. Discussions regarding Maserati began before Antonio Filosa was named the automaker's new CEO last month. Filosa's first day as CEO of Stellantis is Monday, June 23, where he will take the helm as Carlos Tavares's formal successor. Tavares, who led Stellantis from its inception, stepped down in December amid disappointing U.S. sales and inventory struggles and growing internal and external pressure to reassess the company's direction. Stellantis Chairman John Elkann has a plate and a half full when it comes to overseeing the company's wide range of global brands, which include the likes of Jeep, Dodge, Ram, Peugeot, and Alfa Romeo. The company is under pressure to streamline its operations and invest wisely. Stellantis is a publicly traded company listed on the stock exchanges of New York, Paris, and Milan, and financially savvy investors and analysts think that trimming down the 14-brand lineup could boost Stellantis' margins. Back in April, they brought in McKinsey & Co., a consulting firm based in New York, to examine the impact of new U.S. tariffs and explore options for Maserati and Alfa Romeo. According to the sources cited by Reuters, selling one or both brands is on the table, but any decisions are still in the early phases. In an emailed statement to Autoblog, a Maserati spokesperson provided the following statement: "A spokesperson for Stellantis stated: 'Respectfully, Maserati is not for sale.'" Additionally, a McKinsey spokesperson told Autoblog in a separate emailed statement that they "have no comment for this story." The timing of the Trident's review coincides with its efforts to position itself to navigate some significant industry challenges. Chinese brands and their affordable, tech-forward offerings are eating into the European market share. Like other European automakers, Stellantis is also trying to navigate the steep U.S. import tariffs recently imposed by President Donald Trump, which can greatly impact import brands like Maserati and the expensive motors it imports in smaller numbers. Unlike Stellantis brands like Dodge, Jeep, and Chrysler, no Maserati comes from a production facility in North America; all of Maserati's U.S. lineup is exclusively imported from Italy. Maserati's performance has been underwhelming, as it faces tough ground in its key markets. According to Maserati Chief Executive Officer Santo Ficili, about 35% to 40% of its customers are American. In 2024, Maserati posted an adjusted operating loss of €260 million ($298 million) as it sold just 11,300 units, with 4,819 of those cars reaching drivers in the United States. One of the sources who talked to Reuters said that Stellantis is starting to realize it has more brands than it can really focus on, adding that it needs to "set priorities" with the matter. They also report that some board members are split on this scenario: some think selling Maserati is the best move, while others worry that getting rid of its only luxury brand would hurt the company's reputation. This is not the first time that Maserati has been speculated to be sold. Notably, last year, comments from former Stellantis CFO Natalie Knight suggested that the Trident may be on the way out at the 14-brand automaker, which has sincebeen refuted. However, what we solidly know is that Maserati and Alfa Romeo's brand CEO said that it has a turnaround plan as soon as Filosa takes the helm on Monday, the 23rd. In a June 5 interview with Reuters, he not only denied that Stellantis was selling Maserati, but he also expressed optimism over the future of the Trident and that Filosa will back potential plans, which include new products on the horizon. "We have clear ideas about what we want to do, and we hope we can be ready very soon. Let's wait for Antonio to take up his job," Ficili told the newswire. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Yahoo
9 hours ago
- Yahoo
US stocks end mostly lower as investors weigh Trump's Iran plan, Fed rate cut possibility
U.S. stocks closed mostly lower as investors waited to see if President Donald Trump will attack Iran or hammer out a nuclear deal with the country. Trump will decide within two weeks on striking Iran, according to White House spokeswoman Karoline Leavitt. He's open to talks, but Iran has said it won't negotiate with the U.S. unless Israel stops attacking. The only way to end the imposed war is to 'unconditionally stop' the enemy's aggression, Iranian President Masoud Pezeshkian said Friday in a post on X. European leaders from UK, France and Germany are talking with Iranian leaders and reportedly will encourage discussions with the U.S. Still, senior U.S. officials have been preparing for the possibility of a strike on Iran, with some pointing to potential plans for a weekend strike, according to Bloomberg, citing people familiar with the matter. Stocks got an early boost from Federal Reserve Governor Christopher Waller who said in a CNBC interview he doesn't expect tariffs to boost inflation significantly so policymakers should be looking to lower interest rates as early as next month. Lower rates are seen as a boost for stocks because they encourage borrowing and investing by cutting the cost of financing. 'That would be my view, whether the committee would go along with it or not,' Waller said. His tone was different from Fed Chair Jerome Powell's comments earlier this week that the Fed was in no hurry to move rates. Instead, the central bank would wait to see effects of Trump's tariffs on inflation, the economy and jobs. The blue-chip Dow index closed up 0.08%, or 35.16 points, to 42,206.82; the broad S&P 500 dipped 0.22%, or 13.03 points, to 5,967.84, below the key psycholgical 6,000 level and its third straight loss; and the tech-heavy Nasdaq fell 0.51%, or 98.86 points, to 19,447.41. Oil prices dipped to $75 per barrel. The benchmark 10- year yield fell to 4.379%. In early afternoon trade, chip stocks fell after the Wall Street Journal said Jeffrey Kessler, head of the Commerce Department unit in charge of export controls, told top global semiconductor makers he wanted to revoke waivers they have used to access American technology in China. Currently, South Korea's Samsung Electronics, SK Hynix, and Taiwan Semiconductor Manufacturing enjoy blanket waivers that allow them to ship American chip-making equipment to their factories in China without applying for a separate license each time, the story said. Analysts at Jefferies, though, said in a note "it is not very material in our view. We are talking about three fabs which are not big buyers of equipment in any three companies will simply move any production they can't do in China to their fabs in Taiwan or Korea." Trump again criticized Federal Reserve Chairman Jerome Powell after the Federal Reserve rates remained unchanged this week. Trump labeled Powell as 'destructive' in a social media post and said Powell is costing the United States 'hundreds of billions of dollars' by leaving rates steady. Trump has been calling for rate cuts to boost the economy and drop the cost of U.S. debt financing. CarMax's results in the first three months of its fiscal year topped analysts' forecasts. Shares rose 6.59%. Darden Restaurants results in the last three months of its fiscal year beat analysts' expectations. The restaurant chain owner also issued a solid sales outlook for fiscal year 2026. Shares rose 1.36%. Accenture topped quarterly revenue estimates but its bookings fell for the second straight quarter. Shares dropped 6.86%. Microsoft plans to lay off several thousand employees in the next few weeks. Shares were marginally lower. Smith and Wesson's sales in the last three months of its fiscal year missed forecasts and profit declined from a year ago It said steel tariffs could drive up costs for the gunmaker. Shares slid 19.81%. Specialty building products company GMS is getting buyout interest from both QXO and Home Depot. QXO offered GMS $95.20 per share and the Wall Street Journal said Home Depot made a separate private offer. GMS shares jumped 23.63%. Grocery chain Kroger reported mixed quarterly results, but raised its annual same-stores sales outlook. Kroger said tariffs hadn't materially impacted the business and price increases were its last resort. Shares gained 9.84%. Hackers with possible links to Israel have drained more than $90 million from Nobitex, Iran's largest cryptocurrency exchange, according to blockchain analytics firms, media reports said. Bitcoin was last down 1.02% at $103,595.00. (This story was updated with new information.) Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday. This article originally appeared on USA TODAY: US stocks close mostly lower as investors mull Trump Iran move, Fed Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
