Twitter’s week has been about as smooth as vomit-inducing roller coaster ride for shareholders. On Monday, Twitter announced they scrubbed the site of over 70 million bot accounts, sending the stock lowerthan.. most Twitter user’s self-esteem. On Tuesday, they enjoyed a small rally in the early hours but came into contact with some dreadful news from Nomura on Wednesday morning…

Nomura Downgrades Target Price, Goldman Promptly Does The Exact Opposite

Share
Categories : Private Equity
Comments (0)

A big initial public offering and strong signs of growth in the financial technology industry are giving startups in the sector a funding boost.

Venture backed U.S. fintech companies received about 40 percent more funding in the second quarter of this year than the previous one, according to a report released Wednesday by CB Insights and PwC. The total deal value for the quarter was about $3 billion…

Funding for U.S. Fintech Startups Rose 40 Percent Last Quarter

Share
Categories : Finance
Comments (0)

Broadcom has agreed to buy the software maker CA Technologies for nearly $19 billion, according to the two companies.

The acquisition by Broadcom, which has become a formidable competitor in the semiconductor market in the past decade, would be the first major move by the company since its $117 billion bid for Qualcomm was blocked by the Trump administration in March.

The Trump administration thwarted the Qualcomm deal citing national security concerns. White House officials said that allowing Qualcomm, an American leader in smartphone chips and wireless technology, to be taken over by a foreign company might strengthen China’s hand in a strategic industry…

Share
Categories : Finance
Comments (0)

Billionaire Steven Cohen has invested in a hedge fund focusing on cryptocurrencies and blockchain-based companies, according to a person familiar with the matter.

The investment was made through his Cohen Private Ventures, said the person, who asked not to be named because the information is private. The hedge fund, Autonomous Partners, was started last year by Arianna Simpson, an early advocate of cryptocurrencies. It has also secured investments from Union Square Ventures, Coinbase Inc. Chief Executive Officer Brian Armstrong and Craft Ventures Co-Founder David Sacks, Simpson said in an interview Thursday…

Billionaire Steven Cohen Invests in Crypto Hedge Fund

Share
Categories : Hedge Funds
Comments (0)

Move comes after Greek government postponed tax increase on islands hit by migration flows

ATHENS—Germany on Thursday held up the final bailout disbursement for Greece, a move indicative of how difficult it will be for the southern country to regain financial sovereignty even as it exits an eight-year bailout regime in August.

Eurozone finance ministers approved the €15 billion ($17.5 billion) aid payment at a meeting in Brussels, but Germany declined to sign off on the deal…

Germany Delays Greece’s Final Bailout Payment

Share
Categories : Finance
Comments (0)

Investors are watching as the world’s two largest economies dance around a trade war.

Tensions appeared to ease Thursday as Beijing held off retaliating against additional tariffs of $200 billion on Chinese imports proposed this week by President Donald Trump. Stocks rallied, with the S&P 500 Index closing at its highest since February…

How the Trade War Affects Investors

Share
Categories : Finance
Comments (0)

Apple Inc., expanding its environmental efforts, announced a $300 million fund to promote clean energy in China.

The iPhone maker said it’s creating the fund to boost the use of renewable energy in its supply chain, which is primarily spread across regions in China. The company and 10 of its key suppliers and manufacturing partners, including Corning Inc., Pegatron Corp., Wistron Corp. and Luxshare Precision Industry Co., will contribute to the fund over the next four years, the Cupertino, California-based company said Thursday in a statement…

Apple Announces $300 Million China Clean Energy Fund

Share
Categories : Finance
Comments (0)

Walmart is talking to Capital One about taking over its store credit card, a potential blow to current issuer Synchrony Financial

Walmart Inc. is talking to Capital One Financial Corp. about taking over its store credit card, according to people familiar with the matter.

The discussions, which are expected to wrap up in coming weeks, could end Synchrony Financial’s nearly 20-year run as the exclusive issuer of Walmart cards.

Synchrony has been Walmart’s exclusive credit-card…

Walmart in Talks to Move Credit-Card Partnership to Capital One

Share
Categories : Finance
Comments (0)
  • Casco will wager on multi-family and commercial property
  •  Judy Glickman Lauder, a photographer, is part owner of Casco

Judy Glickman Lauder, wife of cosmetics billionaire Leonard Lauder, is investing in a new real estate firm that will wager on multi-family and commercial properties.

Casco Capital Management will provide or invest in loans to real estate developers and also make equity investments in properties, according to an investment adviser registration filed with regulators. Glickman Lauder, a photographer whose work hangs in museums around the world, owns part of New York-based Casco Capital…

Judy Glickman Lauder of Billionaire Family Invests in New Money Manager

Share
Comments (0)
  • 22 women claimed ovarian cancer linked to J&J baby powder
  •  Company denied asbestos in talc products, link to cancer

Johnson & Johnson was ordered by a jury to pay $4.69 billion to women who claimed asbestos in the company’s talc products caused them to develop ovarian cancer, marking the sixth-largest product-defect verdict in U.S. history.

The award of $4.14 billion in punitive damages on top of the $550 million meant to compensate each of 22 women and their families for their losses sent the company’s shares down by as much as 1.4 percent in after-hours trading…

Share
Categories : Finance
Comments (0)

CEO Hock Tan’s $18.9 billion purchase of software company CA is deviation from previous acquisitions

Broadcom Inc. shares fell nearly 14% on Thursday, showing the challenge Chief Executive Hock Tan faces in persuading investors that his $18.9 billion purchase of the software company CA Technologies makes sense for the chip giant.

The deal, announced late Wednesday, was a surprise even for observers familiar with Mr. Tan’s long history of acquisitions. The CEO built Broadcom into a chip powerhouse largely by acquiring companies. He keeps the parts he desires, wringing efficiencies out of the them, and sheds the rest..

Share
Categories : Finance, Wall Street
Comments (0)

Not everyone is losing faith in the yen as a haven.

While the Japanese currency is the worst performer this month among its Group-of-10 peers, Russell Investments is bucking the trend. The asset manager, which oversees $300 billion, has upped the level of yen assets it holds compared to Treasuries, with the currency hitting the lowest level against the dollar since January…

Yen Trumps Treasuries for $300 Billion Investor Amid Trade Spat

Share
Categories : Finance
Comments (0)
  • Commerce secretary says he will sell remaining equity holdings
  •  Ethics chief says failure ‘undermined public confidence’

Commerce Secretary Wilbur Ross said Thursday that he will divest all his remaining equity holdings after the government’s top ethics watchdog said his failure to sell off assets that could pose a conflict of interest “created the potential for a serious criminal violation.”

In his ethics agreement, Ross, a New York businessman, had pledged to divest numerous assets, including all his holdings in Invesco Ltd., within 90 days of his confirmation, and more complex assets within 180 days…

Share
Categories : Private Equity
Comments (0)
  • Passive income held offshore may benefit from arcane provision
  •  Investors save now, but would face hit if they collect in U.S.

An obscure tax provision from the 1960s that was left untouched by President Donald Trump’s overhaul could let wealthy individual investors seize for themselves the largest corporate tax cut in U.S. history.

The measure — signed into law by President John F. Kennedy — was designed to prevent Americans from indefinitely shielding themselves from taxes by keeping investments offshore. It forced them to pay taxes annually on these investments, but gave them the option to have that income taxed at the corporate rate instead of at individual rates…

Share
Categories : Private Equity
Comments (0)

Citigroup Inc. is adding muscle to its private-wealth arm, hiring advisers from rival Bank of America Corp. as competition for assets intensifies.

Lance Bylow and Morgan Dever are joining in New York next month from BofA’s U.S. Trust unit, Citigroup said Wednesday in an emailed statement. Bylow will be a managing director and Dever a senior vice president. Lisa Yang, who also worked at U.S. Trust, started earlier this month as an associate banker working with ultra-high-net worth clients…

The Wealth-Management Arms Race Is Heating Up

Share
Categories : Finance
Comments (0)
  • End of cheap money will cause a crunch, says veteran investor
  •  EM stocks will probably fall another 10% by year-end, he says

For Mark Mobius, there may be worse to come even after the U.S. fired new shots in its trade war with China: a further 10 percent drop in emerging-market stocks and a global financial crisis.

“There’s no question we’ll see a financial crisis sooner or later because we must remember we’re coming off from a period of cheap money,” the veteran investor in developing nations said in an interview in Singapore. “There’s going to be a real squeeze for many of these companies that depended upon cheap money to keep on going.”…

Share
Categories : Finance
Comments (0)

Prices fell despite a larger-than-expected drop in U.S. inventories

U.S. crude had its worst day in a year Wednesday despite a larger-than-expected weekly drop in inventories after Libya indicated it would resume export activities at its eastern ports, potentially easing fears of a global supply shortage.

Light, sweet crude for August delivery fell $3.73, or 5%, to $70.38 a barrel on the New York Mercantile Exchange—its largest one-day percentage drop since June 2017 after it rose in eight of the 10 sessions entering Wednesday. Brent crude, the global benchmark, dropped $5.46, or 6.9%, to…

Oil Tumbles on Libya’s Returning Supply

Share
Categories : Private Equity
Comments (0)
  • Bond investors tend to be more risk averse, Credit Suisse says
  •  Some China property companies borrow at cheaper cost via loans

With the Federal Reserve driving up dollar borrowing costs and China’s deleveraging campaign stoking fears of default among fixed-income investors, Chinese debtors are increasingly turning to the loan market for funding.

Chinese companies have some $76 billion of dollar bonds to repay in the coming year, and face the both higher yields and a weaker exchange rate, thanks in part to U.S.-China trade tensions that brought an end to five straight quarters of gains for the yuan. High-yield issuers are especially vulnerable, with authorities recently looking at cracking down on a loophole that let them sell dollar debt with less than one-year maturity without pre-approval…

Share
Categories : Finance
Comments (0)

Billionaire Elon Musk pledged to pay to secure clean water for homes in Flint, Michigan, the city that fell into economic depression amid the decades-long decline of Detroit’s auto industry and is still recovering from a major public health emergency.

“Please consider this a commitment that I will fund fixing the water in any house in Flint that has water contamination,” the chief executive officer of electric-car maker Tesla Inc. said in a tweet Wednesday. “No kidding.”…

Elon Musk Pledges to Pay for Clean Water to Homes in Flint, Michigan

Share
Categories : Private Equity
Comments (0)

Robert Perry, who ran Los Angeles wealth-management offices, has left firm

A Morgan Stanley executive overseeing brokers who catered to celebrities left the firm this week after several employees claimed harassment at branches he managed in Los Angeles.

A spokesman for the firm confirmed the departure of Robert Perry, who had been at Morgan Stanley’s brokerage and a predecessor firm since 1993…

Morgan Stanley Brokerage Executive Departs Following Harassment Claims in Branches He Managed

Share
Categories : Finance
Comments (0)
  • EM assets typically outperform when U.S. yield curve inverts
  •  Spread between U.S. 10-year, 2-year yields at 11-year low

If the end of easy money, a trade war and myriad geopolitical dangers weren’t enough, a U.S. yield curve poised to invert is adding to the risks for investors. But there’s one asset class that’s less of a worry: emerging markets.

Every time the yield curve has flipped in the past three decades, sending shorter-term interest rates above longer-term ones, the U.S. economy has entered a recession within 12 to 24 months. While that correlation makes the inverted curve a risk-off signal, it’s been a different story with emerging-market assets…

Share
Categories : Finance
Comments (0)
  • Deal would give chipmaker a foothold in business software
  •  CEO Hock Tan returns to M&A following block of Qualcomm bid

Broadcom Inc., a semiconductor maker whose acquisitions have reshaped the chip industry, agreed to acquire CA Technologies for $18.9 billion in cash, branching out into corporate software to diversify its business.

Broadcom will pay $44.50 per share, a 20 percent premium to the CA’s closing price on Wednesday, the companies said in a statement after markets closed for the day. The deal will immediately add to Broadcom’s earnings once completed, which is expected in the fourth quarter…

Share
Categories : Private Equity
Comments (0)

Drivers across the U.S. in May paid as much as $2.96 a gallon on average, the most since 2014

The highest retail gasoline prices in years are the latest development to raise concerns about one of the longest-running U.S. economic expansions on record.

Drivers across the U.S. in May paid as much as $2.96 a gallon on average, the most since 2014. Prices have climbed to $3.63 in California and $3.39 in Washington, states where prices tend to be higher because of factors such as higher taxes, environmental regulations and a lack of pipelines that transport oil west. As of Monday, the national average was $2.86 a gallon….

Share
Categories : Private Equity
Comments (0)
  • U.K. home sales activity declines for 16th month, RICS says
  •  Activity indicators suggest London will remain in a rut

London house prices extended their decline last month amid slumping demand in the capital, according to the Royal Institution of Chartered Surveyors.

For a sixth month, significantly more real estate agents reported falling prices than rising ones, albeit at a slightly slower pace than previously, RICS said is a report Thursday. On a national level prices remained broadly flat, the firm said…

London House Prices Extend Decline as Demand for Property Wanes

Share
Comments (0)
  • Cable giant’s latest offer is 5.4% higher than Fox’s price
  •  Independent Sky directors back sweetened buyout terms

Comcast Corp. increased its takeover bid for Sky Plc to $34 billion, topping an offer from Rupert Murdoch’s 21st Century Fox Inc. and escalating a global standoff between the media giants.

Comcast, the largest U.S. cable company, is now offering 14.75 pounds a share for Sky, valuing Britain’s top pay-TV provider at 26 billion pounds, according to a statement Wednesday. That’s 5.4 percent above a 14 pound-a-share proposal from Fox, which already owns a stake in the European broadcaster. Fox acknowledged the increased bid in a statement late Wednesday…

Share
Categories : Finance
Comments (0)

Martin Sorrell, the former chief executive of the advertising giant WPP who is now trying to build a new ad company, beat out his former employer for the purchase of a Dutch marketing firm on Tuesday, a move that WPP claimed could endanger millions of dollars in his stock awards.

Mr. Sorrell’s new firm, S4 Capital, said in a statement that it had bought MediaMonks, which has 11 offices and more than 750 employees. The marketing firm brings in about 110 million euros ($129 million) of annual revenue, and buying it is S4 Capital’s first move in creating “a new era, new media solution embracing data, content and technology,” the statement said…

Share
Categories : Private Equity
Comments (0)

This year’s cryptocurrency sell-off has done nothing to dent the optimism of Fundstrat Global Advisors head of research Thomas Lee. Already one of Wall Street’s most outspoken Bitcoin bulls, Lee is sticking with his year-end forecast of $25,000, more than 270 percent above current levels. The rosy outlook is based on Bitcoin historically trading at 2.5 times its mining cost, which will rise to $9,000 by year end, he said during an interview in Taipei. Lee has at times been overly enthusiastic: his December call for the digital currency to reach $20,000 by mid-2018 missed the mark by about $14,000…

Share
Categories : Finance
Comments (0)
  • Investors moving away from defensive plays as rates increase
  •  Financials ‘are very cheap,’ according to market strategist

With interest rates on the rise, exchange-traded fund investors are increasingly embracing risk, pulling cash out of defensive utilities and piling into more volatile financials.

Traders yanked almost $330 million from the Utilities Select Sector SPDR Fund, or XLU, Monday after three straight weeks of inflows. Meanwhile, the Financial Select Sector SPDR Fund, known as XLF, saw $368 million of inflows after four consecutive weeks of outflows…

ETF Investors Pick Riskier Financials Over the Safety of Utilities

Share
Categories : Finance
Comments (0)
  • Fund puts 40% of assets in investments including equities
  •  It seeks annual return of 5% or more to meet members’ needs

Thailand’s biggest money manager is looking for guidance from international advisers to help boost returns after its assets under management surged almost two-thirds in five years.

The Social Security Office, which manages social-security funds for 14 million Thais, is seeking to draw new investment guidelines and will invite foreign companies to compete for advisory services, said Jeerisuda Iamsakul, the state agency’s head of investment strategy and research department. With the recent equity plunge affecting about 14 percent of the total assets invested in stock markets, the fund’s first-half results missed last year’s return of about 6 percent, she said, declining to give further details…

Share
Categories : Pension Funds
Comments (0)

Strikes by oil-and-gas workers in Norway and Gabon compound outages in Libya and Canada

Oil prices climbed toward a 3½ -year high Tuesday, supported by supply issues across several major producing countries.

Light, sweet crude for August delivery rose 0.4% to $74.11 a barrel on the New York Mercantile Exchange, near its highest close since November 2014. Brent, the global benchmark, rose 1% to $78.86…

Supply Crunch Lifts Oil to 3½-Year High

Share
Categories : Private Equity
Comments (0)
  • Bank seeks $5 billion in new revenue over the next three years
  •  The firm now has a mere 2% of the ultra-high net worth market

The best time to get hired to manage a billionaire’s money is while your firm is helping to create that fortune.

That’s the thinking behind Goldman Sachs Group Inc.’s push to have its dealmakers help the bank’s wealth managers land new clients. The aim is to leverage the company’s dominance advising on acquisitions and equity offerings to narrow the gap with larger rivals in catering to the world’s richest…

Share
Categories : Private Equity
Comments (0)
Among the Chinese products on the new tariff list put out by the U.S., there are interesting items of note: rare-earths that China is a major producer of and that the U.S. needs pretty much.
Take a look at this chart by my colleague Martin Ritchie in Shanghai that illustrates China’s outsized dominance in rare-earths, which are widely used in high-technology products…
Live Now: Analysis of Latest Developments in U.S.-China Trade War
Share
Categories : Finance
Comments (0)

Forecasts suggest U.S. corporations remained on strong footing heading into the second half of the year

Corporate earnings are poised to extend a run of double-digit growth in the second quarter, providing a balm for a stock market that has languished as investors have grappled with threats ranging from fractious trade relations to tightening monetary policy.

Analysts expect earnings from S&P 500 companies to grow 20% in the second quarter from the year-earlier period, according to FactSet. Despite fears that earnings peaked in the first quarter, they are still on pace for the second-fastest rate of growth in nearly eight…

Share
Categories : Finance
Comments (0)
  • Brookfield, Durst, Revolution, RXR Realty among investors
  •  Funding round said to value company at more than $500 million

Convene, a New York-based real estate startup that specializes in flexible meeting and working space, has raised $152 million from investors including Revolution GrowthBrookfield Property Partners LP and the Durst Organization, its co-founders said.

The Series D round values the company at more than $500 million, according to a person with knowledge of the matter who asked not to be named. Revolution, RXR Realty, David Rubenstein’s Declaration Capital and QuadReal Property Group are among the company’s new investors, while existing investor ArrowMark Partners led the round and was joined by other earlier Convene investors including Brookfield, Durst, Conversion Venture Capital LLC and Elysium Management. BlackRock Inc. is another returning investor, according to people with knowledge of the matter. Edward Sweeney, a BlackRock spokesman, declined to comment…

Share
Categories : Finance
Comments (0)
  • Bright, Oscar rapidly expand footprints as premiums climb
  •  Insurers shrug off Trump’s push to undermine health law

Republicans remain eager to gut the Affordable Care Act, but some health plans say there’s no time like the present to be in the Obamacare business.

Rising premiums in the marketplaces created by the health law are enticing insurers, who are looking past the political turbulence and a curveball this weekend from the Trump administration. More than a dozen insurers plan to enter new Obamacare markets for 2019, according to the Kaiser Family Foundation…

Startups Lead a New Rush Into Obamacare’s Now-Profitable Markets

Share
Categories : Finance
Comments (0)

Wall Street firm is giving trading executive Ted Pick an expanded role that includes investment banking

Morgan Stanley offered more clues into its slow-burning succession race, elevating a top trading executive seen as a favorite to eventually replace Chief Executive James Gorman.

Ted Pick, Morgan Stanley’s trading chief, will add oversight of investment banking, a move that puts him in charge of half of the firm’s revenue and cements his frontrunner status…

Morgan Stanley Elevates CEO Contender

Share
Categories : Wall Street
Comments (0)
  • Money pulled in June for fourth month, Bloomberg estimates
  •  Janus Henderson unconstrained fund lost 6.3% in first half

Investors pulled a total of about $580 million from Bill Gross’s bond fund in the first half of this year and he turned in the worst performance among his peers during the period.

June marked the fourth straight month of withdrawals for Gross’s Janus Henderson Global Unconstrained Bond Fund and the outflows dragged assets down to $1.48 billion, according to Bloomberg estimates. The go-anywhere fund declined 6.3 percent this year through June…

Bill Gross’s Slumping Fund Sees $580 Million of Outflows This Year

Share
Categories : Finance
Comments (0)
  • Firm plans to start marketing buyout pool later this year
  •  Private equity firms hold record $1 trillion in dry powder

Blackstone Group LP plans to start raising its next global private equity fund three years after gathering about $18 billion from investors for its last pool.

The firm is expected to seek more than $20 billion when it starts marketing its eighth buyout fund later this year, according to people familiar with the matter who asked not to be named. New York-based Blackstone’s prior vehicle wasn’t even a third invested as of March 31, according to a regulatory filing…

Share
Categories : Private Equity
Comments (0)
  • No cabinet job for Simsek, last man standing from old A-team
  •  With fresh mandate, president also makes move on central bank

Turkish President Recep Tayyip Erdogan named his son-in-law as economy czar in a new administration and removed the last member of an investor-friendly financial team that’s been gradually pushed to the sidelines. The lira plunged the most since a failed coup in 2016.

Berat Albayrak, a former energy minister who entered parliament for the first time in 2015, will be in charge of a new ministry of treasury and finance, combining what used to be the two most powerful economic jobs. He’ll replace Mehmet Simsek as holder of the most senior economy portfolio…

Share
Categories : Finance
Comments (0)

Cathie Mahon, who runs the National Federation of Community Development Credit Unions, emerges as a champion for grass-roots financial institutions.

For millions of working Americans, the 6,000-plus credit unions across the nation can serve as a paycheck-to-paycheck life preserver. Credit union tellers can refer customers with low balances to in-house financial literacy counselors, and their loan desks frequently offer the best rates, and lowest fees, in the country. A third of these institutions—almost 2,200—cater to low-income customers as standalone businesses or small chains…

The CEO Who’s Leveling the Playing Field Between Credit Unions and Big Banks

Share
Categories : Finance
Comments (0)
  • Foreign secretary follows Davis resignation over Brexit plans
  •  May proposing U.K. maintains close ties to EU after divorce

Prime Minister Theresa May battled to stave off a full-blown crisis after three ministers quit within 24 hours to protest her Brexit plan…

May Fights to Contain Brexit Crisis After Key Ministers Quit

Share
Categories : Private Equity
Comments (0)

China’s factory inflation accelerated in June as the price of commodities held up.

The producer price index rose 4.7 percent from a year earlier, compared with a projected 4.5 percent increase in a Bloomberg survey of economists and a 4.1 percent gain in May. The consumer price index climbed 1.9 percent in June, the statistics bureau said Tuesday, matching the forecast…

China Factory Inflation Accelerates as Commodity Prices Edge Up

Share
Categories : Private Equity
Comments (0)

SAN FRANCISCO — Uber wants to become a destination for all things transportation, no matter what you ride.

The ride-hailing company has made investments to prepare for the future of flying taxis. It acquired Jump, an electric bicycle company, for around $200 million this year. And on Monday, Uber said it had cut another check to invest in Lime, a company best known for offering rides on motorized scooters

A Taste of Lime: Uber Invests in an Electric Scooter Company

Share
Categories : Private Equity
Comments (0)
  • Yen, Swiss franc, Singapore dollar and the greenback top picks
  •  Emerging market FX seen struggling; Kiwi worst G10 performer

If a U.S. or global recession is looming, it’s time to own the Swiss franc, Singapore dollar, U.S. dollar and Japanese yen — and ditch emerging market currencies, according to analysts from JPMorgan Chase & Co.

“Recessions are when creditors get to ask for their money back,” analysts including Paul Meggyesi said in a note dated July 6. “Three of the top four currencies to own during a recession are those of countries that boast extremely strong external positions.”…

Share
Categories : Finance
Comments (0)

There are 255 acres, perfect for practicing a touchdown trot.

At the time Sharon Magness Blake’s first husband, Tele-Communications Inc. founder Bob Magness, died in 1996, she estimates they had a ranch with about 900 Arabian horses. She continued racing for about five years after her husband’s death, she says, “but then it became overwhelming.”

Magness Blake began to sell the horses off, and by the time she began looking for a new ranch in 2002 with her future husband Ernie Blake, “I only had about 30 horses,” she says. Of the steeds she kept, one was of particular importance: Thunder, the official mascot of the Denver Broncos.

Share
Comments (0)

LONDON — When Adyen, a Dutch financial payments processor, began trading publicly last month — and nearly doubled its stock price on its first day — partners at Index Ventures had reason to cheer.

It was the second investment by the venture capital firm to cash out in a short time. Just a month earlier, the European mobile payments company iZettle was sold to PayPal for $2.2 billion, or nearly double what that the start-up had hoped to fetch in its own initial public offering…

Index Ventures Has Been on a Run. Now It’s Raising Funds to Keep It Up.

Share
Categories : Finance
Comments (0)
  • Silverstein buys Upper West Side properties for $1.15 billion
  •  ‘The View’ is among the ABC shows moving to new location

Walt Disney Co. agreed to sell its offices on the Upper West Side of Manhattan and purchase rights to another site, which will become the entertainment giant’s new New York campus.

The company is selling its West 66th Street location and related buildings for $1.15 billion to Silverstein Properties Inc. and is acquiring 99-year rights for land at 4 Hudson Square from Trinity Church Wall Street in a separate transaction valued at $650 million…

Share
Comments (0)

For close to a century leading up to its independence in 1947, India operated under a system of British governance known as the Raj, taken from a Sanskrit word meaning “kingdom” or “rule.” Then, more or less until the introduction of economic liberalization in 1991, the country stagnated under a planned economy whose overwhelming regulatory demands were described as the License Raj.

The title of the new book by James Crabtree, “The Billionaire Raj: A Journey Through India’s New Gilded Age,” suggests that India has now come under the grip of a new but no less troublesome regime. In a nation no longer at the mercy of imperial administrators and maharajahs or petty bureaucrats, “a new system has grown up,” and the emerging superrich are firmly in charge…

Share
Categories : Private Equity
Comments (0)
  • APS CIO Wong says gain could be 20% over next 3 years
  •  Stocks could rise as much as 50% if tensions ease: Wong

Chinese stocks may rise 20 percent over the next three years even if conflicts with the U.S. persist, a $3 billion hedge fund manager said as the trade war between the nations kicked off.

If tensions ease over trade and technology, the gain could be as much as 50 percent, said Wong Kok Hoi, founder and chief investment officer of APS Asset Management Pte in Singapore. That compares with the CSI300 Index losing about 14 percent so far this year…

Share
Categories : Hedge Funds
Comments (0)
  • Volatility, political risks cause losses in merger arbitrage
  •  Strategy faces accelerated outflows as investors shift money

In a booming year for mergers and acquisitions, hedge funds that seek to make money from corporate marriages are struggling.

The value of deals surged 43 percent in the first half of the year, with large takeovers reaching the highest number since before the financial crisis. That should have offered a fertile hunting ground for managers who bet on or against such deals. Yet their investment pools, known as merger arbitrage funds, lost money in the period, sending some investors fleeing…

Share
Categories : Hedge Funds
Comments (0)
  • Commercial property investment from China sank 81% on year
  •  Levels of Chinese investment lowest since 2012, CBRE says

Chinese investment in Australia’s commercial property has plummeted to the lowest level in six years as mainland capital controls bite.

Direct investment fell 81 percent to A$250 million ($187 million) in the first half from a year earlier, property brokerage CBRE Group Inc. said in a report on Monday…

Chinese Property Buys in Australia Plummet on Capital Controls

Share
Categories : Private Equity
Comments (0)
  • Sunsuper investment chief puts more money into unlisted assets
  •  Equity valuations getting increasingly stretched, Patrick says

A regional airport in the U.K. and an express railway in Sweden are two places a $41 billion Australian pension fund thinks might be safe from the inevitable end to the economic cycle.

Uncertainty on global trade and a sharper than expected slowdown in China has prompted Sunsuper Pty Ltd. to shift more of its money into infrastructure assets, according to chief investment officer Ian Patrick. Meanwhile, the A$55 billion pension manager that counts staff at Australia’s central bank and Unilever among clients is paring exposure to listed securities including equities as valuations soar, he said…

Share
Comments (0)

Get the DealBook newsletter to make sense of major business and policy headlines — and the power-brokers who shape them.
__________

More than $2.5 trillion in mergers were announced during the first half of the year, as fears of Silicon Valley’s growing ambitions helped drive a record run of deal-making.

Four of the 10 biggest deals were struck in part to fend off competition from the largest technology companies as the value of acquisitions announced during the first six months of the year increased 61 percent from the same period in 2017, according to data compiled by Thomson Reuters. That has put mergers in 2018 on pace to surpass $5 trillion, which would top 2015 as the largest yearly total on record…

Share
Categories : Finance
Comments (0)

Singapore imposed cooling measures on its property market last week, in a bid to contain what the central bank described as ‘euphoria’ in the sector. Here are three charts showing some of the factors behind the government’s concerns:

1. Prices

Residential property prices have rebounded since the middle of last year, after Singapore reduced a stamp duty on sellers and eased mortgage restrictions in March 2017. In the absence of the cooling measures imposed last week, prices would likely have continued higher to revisit their 2013 peaks, according to Christine Li, a senior director of research at Cushman & Wakefield. That’s now unlikely to happen, Li said…

Share
Comments (0)
  • Investors say some notes didn’t sell out as underwriters claim
  •  Bond managers said to sell at better rates to investors later

When Japan’s Denso Corp. issued 40 billion yen ($362 million) of bonds in a recent offering, its underwriters said the notes sold out. Investors weren’t so sure that was true.

That’s a reflection of a peculiar practice in Japan: underwriters keep it to themselves who the investors buying bonds are, unlike in the U.S. and Europe, where managers usually share information about the bidders. In Japan, if a sale doesn’t attract enough demand, bankers can keep the unsold portion themselves but still declare that everything was sold…

Share
Categories : Finance
Comments (0)

SIX, the owner of Switzerland’s securities exchange in Zurich, is creating platform for trading digital assets, boosting a nascent industry that some countries are trying to suffocate. The new platform will offer a “fully integrated, end-to-end trading, settlement and custody service,” the world’s first to do so, the bourse said in a statement Friday. The parent exchange, regulated by Finma and the Swiss National Bank, intends that the new SIX Digital Exchange will enjoy the same standard of oversight and regulation.

Share
Categories : Finance
Comments (0)
  • Goldman’s Yeh is the latest to leave a bank for a biotech firm
  •  Lazard, BofA, Deutsche Bank have seen similar departures

Investment bankers in Hong Kong are catching biotech fever.

At least seven senior bankers and analysts from top-tier securities firms have quit to join biotechnology companies in the city since December, responding to the industry’s growing demand for financial expertise after rule changes at Hong Kong’s stock exchange smoothed the path for biotech initial public offerings…

Bankers Quit Goldman, Citigroup for Biotech Riches in Hong Kong

Share
Categories : Finance
Comments (0)
  • FDI in British financial firms dropped by 26%, EY report says
  •  London remains most attractive EU city for foreign investment

Britain’s financial-services industry is battling a drop in foreign investment while some of its European counterparts enjoy big gains, according to a new study that displays the starkest indication yet of Brexit’s impact on the sector.

Investment in Britain’s financial-services firms from abroad fell 26 percent last year, EY said in a report released Monday. During the same period, Germany experienced a 64 percent increase, while the figure for France more than doubled. London remains the most attractive EU city for investment in financial services, but the gap with Paris, Frankfurt and Dublin is narrowing, EY said…

Share
Categories : Finance
Comments (0)

The pace of wage gains in Japan is accelerating markedly, thanks to the exceptionally tight labor market.

Earnings jumped in May as the results of spring wage talks came in and the jobless rate hit a quarter-century low. To-be sure, stronger and sustained raises are needed for the Bank of Japan to hit its 2 percent inflation goal, and higher incomes have yet to boost consumer spending…

Japan’s Wage Gains Finally Take Off as Labor Shortage Bites

Share
Categories : Finance
Comments (0)
  • Banks are allocating more to non-traditional assets: survey
  •  Change of investment strategy prompted by low interest rates

Central banks are ramping up their risk taking.

The days of plain old bonds and gold are over as central banks bet some of their trillions of dollars of foreign reserves on mortgage-backed securities, corporate debt, equities and emerging-market debt…

Central Banks Are Ramping Up Their Risk Taking

Share
Categories : Finance
Comments (0)