June, 2023

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Investment Banking in Dubai: The New York of the Middle East?

Mergers and Inquisitions

Investment banking in Dubai stands out for attracting remarkable hype on social media. You’ll find influencers on Instagram, TikTok, LinkedIn, and other sites constantly praising Dubai and claiming it’s the best place to work or start a business. It’s almost like the city has its own PR department and never-ending marketing campaign. If you’re interested in the Middle East or have connections to the region, all this hype has probably made you wonder about finance careers there.

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Ryan Reynolds Invests in Alpine F1 Team

The New York Times: Mergers, Acquisitions and Dive

The actor Ryan Reynolds, the private equity firm RedBird Capital and Otro Capital are among the investors taking a stake in Renault’s Alpine team.

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Fidelity joins the rush for a bitcoin ETF, following BlackRock, Ark Invest and others

CNBC: Investing

The SEC has long opposed a spot bitcoin ETF, but a filing by BlackRock earlier this month has sparked optimism that the regulator could soften that stance.

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Robinhood acquires credit card startup X1 for $95M

TechCrunch: M&A

Robinhood announced on Thursday that it was acquiring X1 , a no-fee credit card startup, for $95 million in cash. X1, which offers an income-based credit card with rewards, raised a total of $62 million in venture-backed funding from investors like Soma Capital, FPV, Craft Ventures and Spark Capital since its 2020 inception. The company announced its most recent raise of $15 million in December, when it also touted a 50% boost in its valuation.

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Navigating the Future: Generative AI, Application Analytics, and Data

Generative AI is upending the way product developers & end-users alike are interacting with data. Despite the potential of AI, many are left with questions about the future of product development: How will AI impact my business and contribute to its success? What can product managers and developers expect in the future with the widespread adoption of AI?

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Beyond Paperwork: Assessing the Effectiveness of a Compliance Program

JD Supra: Mergers

In the world of FDA-regulated companies, compliance with regulatory requirements is not just a matter of paperwork. It is a critical aspect that can significantly impact mergers and acquisitions (M&A) and the overall success of your business. In this alert, we delve into the importance of healthcare compliance in M&A for FDA-regulated companies and provide key insights on evaluating the effectiveness of a compliance program.

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Manipur violence: What are RBI's riot relief measures invoked by the state?

Business Standard - FInance

The rules under these measures specify several norms that must be followed for restructuring the loans, providing fresh loans and other measures, including KYC norms

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Data quality more important than cost, Coalition Greenwich and SIX survey finds

The TRADE

Coalition Greenwich and SIX have revealed the results of their joint survey which delved into the motivations behind the adoption of market data technology, as investment continues to grow, and suggested how future use could develop. The businesses conducted the survey in Q2 2023, analysing responses from 79 market participants from both buy- and sell- side firms across Europe, APAC, and North America.

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Will Cava Going Public Set the Table for Other IPOs?

Successful Acquisitions

Will Cava Going Public Set the Table for Other IPOs? By David Braun, Founder and CEO, Capstone Strategic When Washington DC based restaurant chain Cava became a publicly traded company recently, it bucked a trend that has lasted nearly two years, a notable absence of American IPOs. The past 18 months have marked the slowest initial public offering market since the financial crisis of 2008.

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Exploring The Advantages Of Vertical Integration

Benchmark International

Vertical Integration Vertical integration is a strategy that involves a company expanding its operations into other stages of its supply chain. This means that a company takes control of its suppliers, distributors, or both. Vertical integration can be achieved in two ways, either through backward integration or forward integration.

IT 101
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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.

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Delaware Bankruptcy Court Ruling on $7.2B Claim Affects Fraudulent Transfer Defense, Valuation Litigation

JD Supra: Mergers

In a decision likely to have a knock-on effect for future fraudulent transfer defense and valuation litigation, the Delaware bankruptcy court recently ruled that the price agreed in the sale of an oil and gas company closed by market participants represents the reasonably equivalent value for the assets being sold and is more reliable evidence of value than expert testimony prepared for the purposes of litigation.

Valuation 246
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Mastercard launches global plan to recycle credit cards

Global Banking & Finance

Mastercard launches global plan to recycle credit cards By Simon Jessop LONDON (Reuters) – Payments company Mastercard on Wednesday launched a global project to recycle credit and debit cards as part of a plan to save the billions of cards in circulation across the industry from landfill.

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EPFO extends deadline to apply for higher pension for members till July 11

Business Standard - FInance

Retirement fund body EPFO has extended the deadline for filing applications to opt for a higher pension till July 11. This is the second extension of the deadline for applying for a higher pension. Earlier, it was extended from May 3, 2023, to June 26, 2023. The last opportunity of 15 days is being given to remove any difficulty faced by the eligible pensioners/ members, the Employees' Provident Fund Organisation said in a statement.

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JP Morgan to pay $4 million civil monetary penalty to SEC for mistakenly deleting 47 million emails

The TRADE

JP Morgan was ordered to pay a $4 million civil monetary penalty by the US Securities and Exchange Commission (SEC) on Thursday following findings from the watchdog that found that it had mistakenly deleted 47 million emails. According to the SEC’s order, in June 2019, JP Morgan employees “erroneously” deleted electronic communications – some 47 million emails – from the first quarter of 2018, believing that the documents were coded in a way to prevent permanent deletion due to written communica

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How Embedded Analytics Gets You to Market Faster with a SAAS Offering

Start-ups & SMBs launching products quickly must bundle dashboards, reports, & self-service analytics into apps. Customers expect rapid value from your product (time-to-value), data security, and access to advanced capabilities. Traditional Business Intelligence (BI) tools can provide valuable data analysis capabilities, but they have a barrier to entry that can stop small and midsize businesses from capitalizing on them.

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PRESS RELEASE: TKO Miller, LLC Expands Capabilities With Three New Hires

TKO Miller

MILWAUKEE, WI. – TKO Miller, LLC, a middle-market investment banking firm based in Milwaukee, WI, announced three new additions to its team. Griffin Oleszczuk, J.D., Noah DeGroot, and Jack Hastreiter joined the firm as Analysts in its mergers and acquisitions advisory practice where they will be responsible for supporting senior members of the firm, executing M&A transactions, and conducting company research.

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Founders of Three Arrows, Failed Crypto Fund, Are Living Large

The New York Times: Banking

The implosion of Three Arrows Capital, a cryptocurrency hedge fund, devastated the industry. Its two founders spent the next year surfing, meditating and traveling the world.

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National Geographic Lays Off More Writers

The New York Times: Mergers, Acquisitions and Dive

The company did not specify how many were shed and said that the magazine, known for its focus on discovery and exploration, would continue to be published on a monthly basis.

IT 98
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European car sales rise in May – ACEA

Global Banking & Finance

European car sales rise in May – ACEA BERLIN (Reuters) – European new car registrations increased in May, data from the region’s carmaker association showed on Wednesday. The number of new vehicles registered that month in the European Union, Britain and the European Free Trade Association (EFTA) grew by 18.2% to 1.

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Embedding BI: Architectural Considerations and Technical Requirements

While data platforms, artificial intelligence (AI), machine learning (ML), and programming platforms have evolved to leverage big data and streaming data, the front-end user experience has not kept up. Holding onto old BI technology while everything else moves forward is holding back organizations. Traditional Business Intelligence (BI) aren’t built for modern data platforms and don’t work on modern architectures.

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India to lose 6,500 millionaires in 2023, Dubai and Singapore top choice

Business Standard - FInance

This places India as the second-largest country in terms of HNWI outflow globally, following China (net loss of 13,500)

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State Street to support entire ETF lifecycle through Alpha platform

The TRADE

State Street has expanded the capabilities of its Alpha platform to support the entire lifecycle for exchange traded funds (ETFs). The new State Street Alpha for ETF Issuers offering integrates Charles River Development’s front-office products with State Street’s ETF servicing capabilities to provide end-to-end technology and processes for ETF issuers.

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ThoughtSpot Acquires Mode Analytics for $200M to Empower Data Teams to Redefine Business Intelligence with Trusted Generative AI

Global Newswire by Notified: M&A

With Mode and ThoughtSpot, data teams can use a flexible, efficient code-first approach to deliver self service analytics to business users, easily collaborate with these stakeholders, and quickly connect data investments to meaningful, tangible business outcomes

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What is Payment Gateway and How does It Work?

Razorpay

What is a Payment gateway? A payment gateway is an online service that allows businesses and individuals to accept payments from customers through their websites or mobile applications. It acts as a secure bridge between the customer’s payment method (such as a credit card or digital wallet) and the merchant’s bank account, facilitating the authorisation and processing of transactions.

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How to Leverage AI for Actionable Insights in BI, Data, and Analytics

In the rapidly-evolving world of embedded analytics and business intelligence, one important question has emerged at the forefront: How can you leverage artificial intelligence (AI) to enhance your application’s analytics capabilities? Imagine having an AI tool that answers your user’s questions with a deep understanding of the context in their business and applications, nuances of their industry, and unique challenges they face.

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Cisco ISE Training Now Offers Integrated Labs for Hands-on Digital Learning

Cisco: M&A

I remember the good old days, when, if you wanted training, you had to enroll in an instructor-led class, take time away from work, maybe even get on an airplane, and sit in a classroom for days on… Read more on Cisco Blogs

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UK’s Halfords expects pricing efforts to drive profits

Global Banking & Finance

UK’s Halfords expects pricing efforts to drive profits By Sarah Young LONDON (Reuters) -Halfords forecast profit would rise 3% in its current financial year, saying its efforts to keep prices low should help it to retain customers squeezed by inflation that limits their power to spend on bikes and motoring. British inflation held at 8.

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India and UK regulators close to resolving clearing house impasse

Business Standard - FInance

The legal framework of India, as implemented by the RBI, provides for an effective equivalent system for the recognition of central counterparties authorised under other regimes of other countries

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Bloomberg taps BNY Mellon for new electronic trading and analytics solutions hire

The TRADE

Bloomberg has appointed Colin Williams in an electronic trading and analytics solutions role. Williams joins from BNY Mellon, where he spent the last six years, most recently serving as an equity trader. Prior to that, he spent six and a half years at State Street Global Markets in a portfolio solutions role. Previously, Williams served as an investment account manager at Northern Trust.

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Embedded Analytics Insights for 2024

Organizations look to embedded analytics to provide greater self-service for users, introduce AI capabilities, offer better insight into data, and provide customizable dashboards that present data in a visually pleasing, easy-to-access format. To better understand the factors behind the decision to build or buy analytics, insightsoftware partnered with Hanover Research to survey IT, software development, and analytics professionals on why they make the embedded analytics choices they do.

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Time for Class 2023

Tyton Partners

Time for Class 2023: Bridging Student and Faculty Perspectives on Digital Learning Digital learning has become a prominent feature of modern education , with the potential to provide personalized instruction through technology-enhanced tools, communication, design, and support services in online, hybrid, blended, and face-to-face learning environments.

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Deal Diary: Wachtell, Kirkland Work Nasdaq, Adenza Tie-Up

The Deal

Nasdaq Inc. (NDAQ) turned to regular outside counsel David K. Lam and Mark F. Veblen at Wachtell, Lipton, Rosen & Katz on an agreement to buy Adenza Group Inc. from Thoma Bravo LP for $10.5 billion in cash and stock announced June 12. Avinash Mehrotra and Geddes Johnson at Goldman, Sachs & Co. and Fernando Rivas at JPMorgan Securities LLC are giving financial advice to Nasdaq, the New York-based financial technology company, where the legal team on the deal includes global chief legal, r

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Benchmark International successfully facilitated the transaction between eLogger and Vogl Ventures

Benchmark International

Benchmark International is pleased to announce Vogl Venture's acquisition of eLogger. eLogger is an innovative software developer focused on providing electronic logbook solutions for electric utilities, water utilities, oil & gas companies, and other industrial operations. Founder Ron Vogl has decades of experience wearing many hats in his industry.