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- Finance
Amundi chair Yves Perrier named Editor’s Choice in FN’s Asset Management Awards
Financial News announced the winners of its Asset Management Awards 2021 on 21 October. This year’s Editor’s Choice award went…
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WeWork shares up in NYSE debut
WeWork shares rose on their first day of trading on 21 October, capping a journey to a listing that included…
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Blackstone profits nearly double in third quarter
Blackstone’s net income nearly doubled in the third quarter, driven by strong investment performance for its largest strategies and continued expansion…
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WeWork set to trade publicly via Spac, two years after its IPO imploded
The shared-office company WeWork is set to trade publicly Thursday, 21 October, capping a journey to a listing that included…
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Trump plans Spac for social media firm
Former President Donald Trump unveiled a new digital-media venture 20 October and said it would go public by merging with a…
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Why PayPal may be considering a mega-deal for Pinterest
PayPal Holdings Inc.’s quest to become a “super-app” may be kicking into a new gear following reports that the company…
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Fund bosses see ‘Darwinian forces’ spurring M&A deals
The pace of merger and acquisition activity won’t let up, say some of Europe’s top fund bosses. They predict asset managers…
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BlackStone acquires majority stake in shapewear firm Spanx
Blackstone is buying a majority stake in Spanx, becoming the first outsider to put money into a company that revolutionised…
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Bankers flock to business class again in M&A boom: ‘My message is clear — get back out there’
Mergers and acquisitions deal volumes are on course to smash annual records this year, even as investment bankers have negotiated…
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Blackstone, KKR fuel record $26bn in Wall Street fees as PE boom seen raging on
Bankrolling private equity is big business for Wall Street. The world’s biggest banks have pulled in a record $26bn in fees advising…
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Fintech frenzy to stall as talent war and Europe’s IPO slowdown hurts startups
Record levels of private and venture capital funding for European fintech companies could diminish next year as mature startups focus…
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Goldman gets approval for full ownership of key unit in China
Chinese regulators approved Goldman Sachs Group’s application to take full ownership of a key local unit, another step in China’s gradual opening…
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Here’s how Asia’s betting on Spacs to lure global investors
Spacs have lost some lustre in America, but stock exchanges in Singapore and Hong Kong are betting the vehicles will…
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Crypto fans are turning to futures ahead of the SEC’s ruling over bitcoin ETFs
Investors are betting the first U.S.-listed bitcoin exchange-traded fund is about to get the go-ahead. Securities regulators could rule as…
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Spac investors find stability through the chaos
Shares of special purpose acquisition companies have lost their luster for those who recently saw them as a ticket to…
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KKR co-chiefs step down as torch passes at private equity giant
Henry Kravis and George Roberts are stepping down as co-chief executive officers of KKR, as the founders of the seminal…
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Merging among asset managers may not be a cure-all
Just about everybody agrees that asset managers need to get bigger. But mergers may not be a cure-all. The rapid…
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Banks on track to merge at level not seen since 2008 crisis
Banks are on pace this year to merge at a level not seen since the 2008 financial crisis. It is…
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Evergrande plans fund raise with sale of stake to state firm
China Evergrande Group said it plans to raise about $1.5bn by selling a minority stake in a Chinese bank to…
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Freshfields poaches top dealmaker from Cravath
Freshfields Bruckhaus Deringer is poaching a top dealmaker from Cravath, Swaine & Moore, the latest offensive in a talent war…
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Clayton, Dubilier & Rice win bidding war for Morrisons
A consortium led by US buyout firm Clayton, Dubilier & Rice won the bidding war for UK grocery chain Wm Morrison…
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Evergrande halts shares, signals takeover bid
The $7bn property management unit of ailing developer China Evergrande Group said it could be the subject of a takeover bid, a…
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Exchange boss says post-Brexit London hasn’t lost its finance crown — yet
Alasdair Haynes, the chief executive officer and founder of Aquis Exchange, spoke with Financial News about the prospects for the City…
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A bunch of fitness companies have jumped into the IPO market this year. It’s not working out.
Has the U.S. IPO market reached peak fitness? It may have, based on Thursday’s market, which saw the latest fitness…
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European Spac market thaws with £125m Disruptive Capital listing
A £125m blank cheque company listing in Amsterdam is unfreezing the European Spac IPO market, which has not seen a deal since…
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Tesco Raises FY Guidance, Launches GBP500 Mln Share Buyback — Update
By Jaime Llinares Taboada Tesco PLC on Wednesday raised guidance for the fiscal year after a strong first half, and…
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Why UK investors still aren’t backing Spacs
The regulator may have shown its hand, but the UK market is still waiting for a Spac boom to materialise…
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Cathie Wood would ditch Tesla stock if it hit price target early
Leading technology investor Cathie Wood said she would be willing to sell her flagship fund’s massive stake in Tesla next…
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Credit Suisse adds European Spac dealmakers to prep for ‘strong pipeline of deals’
Credit Suisse is bolstering its team of Spac dealmakers in Europe, as bankers prepare for an expected wave of blank-cheque…
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Elizabeth Warren, other Democrats issue letters of concern to Spac creators
Elizabeth Warren and three other Democratic senators sent open letters to several creators of special-purpose acquisition companies on 22 September questioning…
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Global tally of COVID-19 cases nears 230 million, as Biden convenes virtual pandemic summit and doubles U.S. purchase of Pfizer vaccine
The global tally of confirmed cases of the coronavirus-borne illness COVID-19 was closing in on 230 million on Wednesday, as…
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Digital broker eToro delays $10.4bn Spac listing until end of the year
Commission-free stock broker eToro said its Wall Street debut will be delayed because of regulatory hurdles for special purpose acquisition companies. EToro now…
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IPO market braces for 14 deals this week — including payment processor Toast — unless Evergrande woes send issuers scurrying
The U.S. initial public offering market is bracing for another busy week, with 14 deals on tap, unless fears of…
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EQT’s Christian Sinding: ‘We were pushing on the brake and the gas pedal at the same time’
EQT had spent only a few months as a publicly-listed company when the Covid-19 pandemic struck in March 2020, forcing…
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Tiedemann and Alvarium close to merger deal with plans for a Spac
Investment firms Tiedemann Group and Alvarium Investments are close to a deal to merge and go public through a special-purpose…
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Prudential plans $2.89bn Hong Kong fundraise
Prudential PLC is planning to raise up to $2.89bn by issuing new shares as the insurer looks to redeem high-coupon…
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Invesco in discussions to merge with State Street’s asset management business
Invesco is in talks to merge with State Street’s asset-management business, people familiar with the matter said. A deal isn’t imminent, and…
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Job hunters are putting their vaccination status on LinkedIn and résumés. Should you do the same?
As someone who’s been working in the recruiting and talent acquisition industry for two decades, Dustin Mazanowski knows how important…
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Goldman acquires speciality lender GreenSky in $2.2bn deal
Goldman Sachs is buying speciality lender GreenSky Inc. for $2.2bn, striking a deal it hopes will further its reinvention from…
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Martin Gilbert eyes Asian deal making opportunities for AssetCo
Martin Gilbert, the chair of consolidation firm AssetCo, says he wants to grow the fledgling business in Asia — an…
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Tinder’s Jim Lanzone named chief executive at Apollo’s Yahoo
Apollo Global Management is naming Tinder chief executive Jim Lanzone the new CEO of Yahoo, the digital-media business it acquired…
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Energy Vault’s Spac for renewable energy storage hits $1.6bn valuation
Energy Vault is combining with a blank-cheque company to go public in a merger that values the gravity-based energy-storage company at…
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Launching a Spac in the UK? Here’s a quick checklist of 10 things to know first
The Financial Conduct Authority has changed the rules that govern the listing of Spacs on the London Stock Exchange, finally enabling…
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JPMorgan strikes deal for major stake in Volkswagen payments business
JPMorgan has bought a 75% stake in German car giant Volkswagen’s payments business, the second acquisition by the US bank…
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Barclays hires Credit Suisse dealmaker as European push continues
Barclays has poached a senior dealmaker from Credit Suisse to lead its industrials mergers and acquisitions unit in Europe, as…
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Europe’s banks can’t ignore the M&A rush in fight with the US giants
The global economy is on a mergers and acquisitions tear, with more tie-ups in the first half of 2021 than…
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Startup firms see $75bn in value wiped out six months after Spac craze
The blank-cheque boom has turned into a rout. More than six months after the Spac craze crested, a broad sell-off…
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Good governance will help UK Spac market win out, says investment minister
There is still hope for the special purpose acquisition company market in the UK, according to investment minister Lord Grimstone,…
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Legality of Spacs called into question in a spate of class actions
Two law professors are aiming at high-profile targets, filing suits that question the legality of a specific type of special-purpose…
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UK regulator opens inquiry into S&P Global’s $44bn deal for IHS Markit
The UK’s Competition and Markets Authority has launched an inquiry into S&P Global’s planned $44bn acquisition of IHS Markit, a deal…
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