July, 2023

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DOJ and FTC Release Draft of New Merger Guidelines

JD Supra: Mergers

The U.S. Justice Department (DOJ) and Federal Trade Commission (FTC) (collectively, the “Agencies”) released for public comment draft Merger Guidelines that outline how the agencies evaluate proposed deals. The Agencies have periodically updated their Merger Guidelines, with the last such update in 2010.

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DigitalOcean acquires cloud computing startup Paperspace for $111M in cash

TechCrunch: M&A

DigitalOcean , the cloud hosting business, today announced that it’s agreed to acquire Paperspace , a New York-based cloud computing and AI development startup, for $111 million in cash. DigitalOcean CEO Yancey Spruill says that Paperspace’s infrastructure and tooling, once integrated with DigitalOcean’s products, will enable customers to more easily test, develop and deploy AI applications.

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Bank of India becomes first bank to offer Mahila Samman Savings Certificate

Business Standard - FInance

Bank of India Mahila Samman Savings Certificate: The scheme was announced by Union Finance Minister Nirmala Sitharaman during her Budget speech this year

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Japan’s top lenders in fresh drive to win US investment banking deals

Global Banking & Finance

Japan’s top lenders in fresh drive to win US investment banking deals By Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) -Japan’s top lenders aim to carve out a larger presence in U.S investment banking as they look to make better use of their massive balance sheets by winning a bigger slice of deals, executives say.

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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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HSBC’s head of artificial intelligence for markets departs for JP Morgan

The TRADE

HSBC’s head of artificial intelligence (AI) for markets and securities services has departed for rival bank, JP Morgan, The TRADE can reveal. Ash Booth joins JP Morgan as applied AI lead for markets operations after spending the last nine years with HSBC in data science roles. “We wish him all the best in his future endeavours and thank him greatly for his extensive contributions during his nine years with the bank and in particular the impressive leadership on artificial intelligence and machin

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More Trending

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Big Tobacco Bets Big On Cannabis

JD Supra: Mergers

Word began circulating a few days ago that tobacco giant Phillip Morris has agreed to purchase Israeli cannabis company Syqe Medical for a whopping $650 million if certain future events come to fruition. While the two companies evidently have some history together, this new deal is reportedly tied to Phillip Morris’ interest in acquiring Syqe’s metered-dose, pharmaceutical-grade inhaler that dispenses precise doses of medical cannabis to patients.

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WATKINS WELLNESS EXPANDS INTO SAUNA CATEGORY THROUGH THE ACQUISITION OF SAUNA360

Global Newswire by Notified: M&A

Vista, California, July 31, 2023 (GLOBE NEWSWIRE) -- Watkins Wellness, a leader in hot tubs and aquatic fitness systems, today announced the expansion of its portfolio of personal well-being products and entry into the sauna category as a result of the pending acquisition of Sauna360 Group Oy (“Sauna360”) by Watkins Wellness’ parent company, Masco Corporation.

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A Technical Look at IPSEC VPN Tunnel Creation

Cisco: M&A

Hello everyone, and welcome back to my little corner of the Internet. I always take inspiration from what I’m currently working on in my day job when putting together an idea for a post and/or video.

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UniCredit appoints new head of digital to replace Jingle after two years

Global Banking & Finance

UniCredit appoints new head of digital to replace Jingle after two years MILAN (Reuters) – UniCredit has named Ali Khan, a cloud specialist who joins from consultancy PwC, as its new head of digital and information, replacing Jingle Pang, the Italian bank said on Tuesday.

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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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AllianceBernstein becomes latest buy-side to set up shop in the Dubai International Financial Centre

The TRADE

AllianceBernstein (AB) has expanded its presence in the Middle East with a new office in Dubai International Financial Centre (DIFC), becoming the latest in a string of global asset management firms to set up shop in the region. The move comes as part of AB’s strategic plan to strengthen its presence in the Middle East. AB has been granted a Category 4 Licence from the Dubai Financial Services Authority (DFSA), the independent regulator of financial services conducted in the DIFC.

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Mastercard Moves to Stop Use of Debit Cards at Cannabis Shops

The New York Times: Banking

The decision places more strain on the cannabis industry, which largely operates with cash and is not uniformly regulated across the United States. The drug is still illegal on the federal level.

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Broad Street Brief: Council Pres. Race; Kingsessing 911 Error; Bus Frustrations

JD Supra: Mergers

Race for City Council President- Although the upcoming November City Council elections are just around the corner, experts have already changed gears and are looking ahead to the January 2024 council president race eager to see who will succeed the outgoing Council President Darrell Clarke.

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Explained: How HDFC-HDFC Bank merger will impact equity mutual funds

Business Standard - FInance

Several investors are concerned that since both stocks are among the widely held scrips in their portfolios, it could result in a fire sale of the entity at a beaten-down price.

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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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Trusted Training for Trusted Solutions: Cisco Validated Framework Tutorials on Cisco U.

Cisco: M&A

There are things in life that just go better together. Salt and pepper. Fish and chips. Chili and cheese. Another perfect pairing, if you’re hungry for tech training, is the combination of Cisco U.

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Sainsbury’s says UK food inflation falling as sales rise

Global Banking & Finance

Sainsbury’s says UK food inflation falling as sales rise By James Davey LONDON (Reuters) -Sainsbury’s, Britain’s second largest supermarket group, said on Tuesday food inflation was starting to fall as a return to volume growth helped power a 9.8% rise in quarterly underlying sales.

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BNP Paribas reports overall revenue increase in Q2, despite slowdown in FICC

The TRADE

BNP Paribas saw a 3.3% increase in its overall revenue in the second quarter of 2023 compared to Q2 2022, despite a dip in its corporate and institutional performance and global markets results. Revenue for the corporate and institutional banking area were down 2.3% overall this quarter compared to Q2 2022, with a noted decrease in fixed income currencies and commodities (FICC) revenues attributed to “the normalisation of the activity in a less buoyant environment, particularly in fixed-income a

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JDE Peet’s to expand its emerging markets presence through the intended acquisition of Maratá’s coffee & tea business in Brazil

Global Newswire by Notified: M&A

PRESS RELEASE Amsterdam, 24 July 2023 JDE Peet’s (EURONEXT: JDEP), the world’s leading pure-play coffee and tea company by revenue, today announced that it has signed an agreement to acquire the Brazilian coffee & tea business from JAV Group for an undisclosed amount in cash. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in 2024.

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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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Breaking New Ground: Razorpay becomes first Indian startup to launch international payment gateway with Curlec

Razorpay

We have always believed that simplifying payments is a universal problem. Businesses across the world grapple with the same question: how can my payments experience be simpler, faster, and more efficient? At Razorpay, we took this challenge head-on in India, solving for tens of thousands of growing businesses as they embraced a bold, new digital future.

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Driving Toward a Degree 2023: Awareness, Belonging, and Coordination

Tyton Partners

Driving Toward a Degree 2023: Awareness, Belonging, and Coordination This in-depth study delves into the critical aspects of student support services in higher education and highlights the need to prioritize equity with excellence for the provision of high-quality education. The study surveyed over 2,000 students and 1,700 institutional stakeholders , revealing key barriers and opportunities to better support students.

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Embracing the Cloud Era with the New CCIE Collaboration Certification

Cisco: M&A

As we celebrate the 30-year anniversary of the Cisco Certified Internetwork Expert (CCIE) certification and 20 years of the CCIE Collaboration certification, we reflect not only on our past… Read more on Cisco Blogs

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Amazon rolls out first European Rivian vans in Germany

Global Banking & Finance

Amazon rolls out first European Rivian vans in Germany By Nick Carey (Reuters) – E-commerce giant Amazon will deploy its first European vans from U.S. electric vehicle (EV) maker Rivian in Germany over the coming weeks as part of long-term plans to electrify its transportation network, it said on Tuesday.

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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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Clearwater Analytics to launch new generative artificial intelligence solution for investment management

The TRADE

Clearwater Analytics is set to launch a new generative artificial intelligence solution aimed at improving the way institutional clients analyse investment data and respond to changing market dynamics. Named Clearwater-GPT, the solution claims to be the first AI-generative tool for the investment management industry and will be available to select clients throughout the second half of this year.

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RBI rejects 3 'not suitable' applications for setting small finance banks

Business Standard - FInance

The Reserve Bank of India has rejected three applications, including the of West End Housing Finance, for setting up small finance banks. These applications were found not suitable for granting of in-principle approval to set up small finance banks, it said in a statement on Tuesday. RBI had received about a dozen applications to set up banks under the guidelines for 'on tap' Licensing of Universal Banks and Small Finance Banks (SFBs).

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Corporate Accounting: Meaning, Importance & Explanation

Razorpay

Corporate accounting is a special kind of accounting meant for businesses to record and monitor money movement. It deals with analyzing, classifying, collecting, and presenting a company’s financial data. Knowing how corporate accounting works and its role in facilitating the growth of a business is important because it plays a fundamental role in the smooth functioning of business financials.

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Twitter Sues Law Firm Over $90 Million Payment in Elon Musk Deal

The New York Times: Mergers, Acquisitions and Dive

The lawsuit targeted Wachtell, Lipton, Rosen & Katz, a well-known Wall Street law firm, for “unjust enrichment” related to Mr. Musk’s $44 billion purchase of Twitter.

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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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Ron Baron has a rare long-term record of beating the market. Here's how he did it

CNBC: Investing

"Investing for the long term in competitively advantaged growth businesses managed by exceptional executives. That's our strategy," Baron said.

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Arrival, Nikola signal more pain for EV startups

Global Banking & Finance

Arrival, Nikola signal more pain for EV startups (Reuters) -Arrival SA will terminate plans to merge with a blank-check firm and Nikola Corp will offload its newly acquired battery unit, the companies said on Monday, amplifying concerns over the struggles electric vehicle (EV) startups face in building scale.

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Over 75% of prop trading firms saw volatility trading strategies out-perform other markets in 2022

The TRADE

More than three quarters of surveyed prop trading firms confirmed said volatility trading strategies had out-performed other markets last year, according to a new report from Acuiti. Of the respondents, 35% labelled volatility “significantly better” than other strategies, while 33% reported a “slightly better” performance. Around a third of surveyed firms which are not currently trading volatility products confirmed their intention to do so going forward.

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