An investing legend is backing one of the most high-profile hedge fund launches of the year

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One of the hedge fund industry’s legendary investors is backing one of the most high-profile hedge fund launches of the year.

Stanley Druckenmiller is backing Castle Hook Partners, a hedge fund launched by two former Soros traders.

It will be Druckenmiller’s biggest investment since he backed PointState Capital with $1 billion in 2014, according to a person familiar with the matter.

Wall Street could go back in time, Canada’s latest jobs report crushed it, and China is walking its economy right into a trap.

Tesla just did the one thing a company under attack should never do, something unexpected is happening at Chipotle, and Gawker Media has filed for bankruptcy.

A bunch of 20-somethings convinced Goldman Sachs’ most senior staff to give $200,000 to a nonprofit.

Wall Street’s finest are about to take part in an insanely competitive event to crown the ‘Best Athlete’.

And lastly, online dating is awful.

Here are the top Wall Street headlines at midday:

Global stocks are selling off It’s a risk-off kind of day in markets.

ALBERT EDWARDS: ‘CONDITION RED ALERT’ — a recession is imminent Albert Edwards thinks that the US economy is about to hit the rocks.

Whatsapp competitor Line has filed to go public Japan’s most popular messaging app, Line, has filed to go public.

One of Wall Street’s most popular strategists asked investors 8 out-of-the-box questions — here’s what they said Deutsche Bank’s Jim Reid is one of the most respected macroeconomic strategists on Wall Street.

There are 2,000 empty restaurants during the day in New York — and this startup is trying to do something about it It’s seven hours before DBGB Kitchen and Bar officially opens, but people are already seated in the restaurant’s dining area.

Illinois’ debt is historically terrible — Illinois’ political back and forth is taking its toll.

CNBC’s Half Time team are going all in to try and be crowned Wall Street’s top athletes — A team from CNBC’s Half Time Report are doing everything they can do to be competitive.

7 of Wall Street’s top athletes share their intense workout routines Intense.

14 of the most luxurious homes you can rent in the Hamptons this summer The Hamptons offer a luxurious escape during New York City’s hot summer months.

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