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ALSO NOTED: Citi's hedge fund woes pose issues for its brokers; Lehman creates restructuring and finance group; and much more..

Company News:> Lehman creates restructuring and finance group. Article> Eaton Vance... Read more...

Icahn now main player in Microsoft-Yahoo drama

The key man in the still unfolding Microsoft-Yahoo pas de deux is not Steve Ballmer, not Jerry Yang, or even Eric Schmidt. It's investor activist Carl Icahn. The New York Times notes that while he... Read more...

Event-driven funds take their lumps

Activist hedge funds have been hit hard by the slowdown in the private equity industry. November in fact was nothing short of a debacle. The Financial Times notes the event-driven sector had dropped... Read more...

SPOTLIGHT: Geneva Partners

Activist hedge funds have fared decently over the past few years. So why not a fund of activist funds? Geneva Partners launched such a fund this month with $50 million in assets. Most will go to the... Read more...

Battle brewing: HSBC vs. U.S. hedge fund

HSBC, a fairly strong British brand, thought the burgeoning U.S. was the ticket to higher margins. In 2003, its purchase of Household... Read more...

What to make of the Joe Lewis play for Bear Stearns

Given that Joseph Lewis, who now is the proud owner of 8 million Bear Stearns shares, has the gossip mills churning. The New York Post... Read more...

ALSO NOTED: Top Wall Street banks trading at huge P-B discounts; NYSE Euronext still focused on integration; and much more...

Company News:> HSBC targeting wealthy in Japan with new branches. Article> Activist investor targeting HSBC. Read more...

More on the value of activist hedge funds

So do activist hedge funds really create value? Well, as the saying goes, give your economists a spreadsheet and they can pretty much prove anything. So the record is mixed. Activist themselves can... Read more...

Activist hedge fund takes Goldman Sachs stake

Activist investor Barry Rosenstein has raised... Read more...

Icahn now getting glowing press

There was a day when Carl Icahn and his ilk were derided as greenmailers. Fortune puts it eloquently: "The rap on Icahn has been that he's a fast-buck artist who uses a limited bag of... Read more...