August was a boon for at least some hedge funds, even as the broader market swooned in the late-summer heat.

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It may be the King (it’s the second-largest U.S. hamburger chain, actually), but Burger King has been doing some homage in recent weeks.

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JPMorgan Chase will shutter its proprietary-trading desk and has notified those desks’ employees that their jobs are being cut.

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Elliott Management has dropped its bid to force an industry magazine to divulge the source of its June 30 investor letter.

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Victims of hedge fund fraudster Arthur Nadel’s $400 million Ponzi scheme have until tomorrow to file a claim for restitution.

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Commodities hedge fund shop Galtere is getting into the private equity business with a new fund that invests in industrial commodity production.

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Investment-trust-cum-hedge-fund-seeder Majedie Investments has launched a second fund management firm to manage its own assets.

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Hedge Funds Care announced today that its Third Annual East Coast Golf Tournament was its most successful golf outing ever, raising over $170,000 for the charity's cause—the help prevent and treat child abuse.

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New York-based hedge fund consultancy Atrato Advisors has hired two research professionals to support its expanding client roster.

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Eze Castle Integration, which provides IT services, technology and consulting to investment management firms, has opened offices in Singapore and Geneva.

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The Obama administration has proposed adding new labels to showroom vehicles that give letter grades based on their fuel economy and greenhouse gas emissions. The new labels, which U.S. officials hope to introduce for 2012 models, would provide consumers with more complete information on efficiency and environmental performance, including associated air pollutants. “From electric to plug-in hybrid vehicles, we think a new label is absolutely necessary to help consumers make the right decision for their wallet and for the environment,” said Gina McCarthy, an EPA assistant administrator. EPA/DOTThe proposed letter-grade label Under the proposal, the average vehicle would receive a grade of B- for fuel efficiency and emissions, federal officials say. Electric vehicles would get an A+, plug-in hybrid electric vehicles would receive an A, and gas-electric hybrids, such as the Ford Fusion and Toyota Prius, would receive an A-. Meanwhile, many luxury vehicles, such as the Mercedes-Benz Maybach 57 would get a D+ or D, the lowest grade. The agencies are asking for public comment on two label designs, which can be viewed online. The second design omits a letter grade but has information on greenhouse gas emissions and a graph showing how the vehicle compares with others.

In an upcoming book, high-profile global warming skeptic Bjorn Lomborg acknowledges that rising temperatures are “undoubtedly one of the chief concerns facing the world today” and calls for investing $100 billion annually to deal with climate change. Lomborg, who has attacked environmentalists and the media for exaggerating the threat of global warming, said that while he has never denied the existence of man-made warming, he has come to believe that it is a serious challenge that must be met by a large-scale investment. His new book, Smart Solutions to Climate Change — co-written with other economists — recommends levying a tax on carbon emissions and using the proceeds to finance research and development into renewable sources of energy; developing geoengineering ideas to cool the planet, such as “cloud whitening” to reflect the sun’s energy back into space; planting more trees; and reducing soot and methane emissions, which contribute to global warming.

With an unbroken track record of positive performance, fund of hedge funds shop Merrant Fund Management is set to open its market-neutral fund to outside investors.

The firm will begin marketing the Merrant Select Fund, which it launched last year, next month. And despite the ups and downs of the global economy over the last 12 months, the fund has never suffered a down month and has returned 7.2% on an annualized basis.

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Hedge fund CQS is suing Numis Securities over its investment in a Canadian oil company.

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Alex Patelis is back in the game, and a full day early. The former chief economist at hedge fund PSQR Capital today announced the debut of his eponymous research firm.

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Swiss fund of hedge funds EIM has hired the former head of hedge fund advisory at Union Bancaire Privée.

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Are Fortress Investment Group’s top executives feeling bearish about the alternative investments giant?

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Commodity-focused hedge fund firm Armajaro Asset Management has appointed Harry Morley as chief executive officer.

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Castlestone Management is set to roll out a fund investing in 11 emerging and frontier markets, hoping to hit upon the next BRIC success story.

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Third Point has hired a Polygon Investments trader.

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