2023

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SpaceX acquires parachute company for $2.2M – because it turns out space-rated parachutes are very hard

TechCrunch: M&A

SpaceX is known for its vertical integration, but one component it’s been outsourcing is parachutes — until earlier this month, when the company quietly acquired parachute vendor Pioneer Aerospace after its parent company went bankrupt. The Information first reported the news. This is the second known acquisition for SpaceX, which acquired small satellite startup Swarm […] © 2023 TechCrunch.

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Binance Founder Changpeng Zhao Pleads Guilty to Money Laundering Violations

The New York Times: Banking

Changpeng Zhao will pay a $50 million fine and step down as chief executive of the company he created, the latest blow to the crypto world since the implosion of FTX last year.

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Could digital assets help expand capital raising?

Accenture Capital Markets

At Accenture’s capital markets team, we’ve completed a research project into the future of capital raising. We discussed some of the findings at a breakfast during Sibos , and I thought, I would share some of the headlines in this blog. The results should be of interest for anyone in the industry—for both public and private markets. More so, I suspect people most interested may be small-cap issuers, many of whom currently seem to struggle to raise the capital in the way that best suits their nee

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A ‘true master of investing:’ Top value investor on how Charlie Munger changed the craft

CNBC: Investing

The investing community lost one of its pillars Tuesday with the death of Charlie Munger, according to Ariel Investments' Charles Bobrinskoy.

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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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Music Licensing Giant BMI Sells to Private Equity Firm

The New York Times: Mergers, Acquisitions and Dive

Broadcast Music Inc., one of the major performing rights organizations in the United States, collected $1.57 billion and distributed $1.47 billion for its 2022 fiscal year.

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JPMorgan Chase discloses multiple investigations by U.S. regulators

American Banker - Investment Banking

Regulators are looking into practices within JPMorgan's securities arm and investigating parts of its trading operations, according to a regulatory filing by America's largest bank.

Bank 132
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Great Pacific Gold Completes Acquisition of Wild Dog Resources Inc.

Global Newswire by Notified: M&A

VANCOUVER, British Columbia, Sept. 21, 2023 (GLOBE NEWSWIRE) -- Great Pacific Gold Corp. ("Great Pacific Gold,” “GPAC,” or the "Company") (TSXV: GPAC) (OTCQX: FSXLF) (Germany: 4TU) is pleased to announce that it has completed its acquisition of Wild Dog Resources Inc. (“WDR”) pursuant to the terms of an amalgamation agreement (the “Amalgamation Agreement”) with 15103452 Canada Inc., a wholly-owned subsidiary of GPAC (“GPAC Sub”), and WDR.

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Thought leadership AI in security and defence

Global Banking & Finance

Thought leadership AI in security and defence By Lee Eccleshare, Head of Research, AMPLYFI Artificial intelligence (AI) has rapidly spread through virtually every sector, revolutionising processes and augmenting capabilities. From healthcare to finance, from transportation to entertainment, there is hardly an industry untouched by the transformative powers of AI.

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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

Bank 145
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The importance of cybersecurity in the rail industry

Cisco: M&A

The railway industry is increasingly embracing new systems and technologies to enhance operational efficiency, safety, and connectivity.

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Cisco to acquire Splunk in $28B mega deal

TechCrunch: M&A

Cisco has a reputation of building the company through acquisitions, but it has tended to stay away from the really huge ones. That changed this morning when the company announced it was acquiring Splunk for $28 billion.

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Gold Bars and Tokyo Apartments: How Money Is Flowing Out of China.

The New York Times: Banking

Chinese families are sending money overseas, a sign of worry about the country’s economic and political future. But a cheaper currency is also helping exports.

Economics 133
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First base for your gen AI journey? Could be efficiency

Accenture Capital Markets

In my previous blog in this short series on generative AI in capital markets, I gave my perspective on why gen AI is so game-changing for our industry. From the highest level, using gen AI to drive efficiencies could help firms to respond to some of the bigger global macroeconomic challenges currently confronting the industry—not least inflationary and economic headwinds as these shifts may also demand firms to undertake cost transformation programs as part of what Accenture calls Total Enterpri

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Activist investor ValueAct has been building a stake in Disney

CNBC: Investing

ValueAct began buying Disney this summer during the Hollywood strikes and it is now one of the investor's largest positions, the Activist Spotlight has learned.

Investors 145
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Rite Aid Files for Bankruptcy, Facing Slumping Sales and Opioid Suits

The New York Times: Mergers, Acquisitions and Dive

The pharmacy chain, one of the country’s largest, faces more than a thousand lawsuits that say it filled illegal prescriptions for painkillers.

Sale 138
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Junior analyst’s lawsuit against top bank puts Wall Street hours on trial

Financial Times - Banking

Kate Shiber says Centerview Partners improperly fired her over sleep requirements necessitated by mental illness

Bank 123
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Atlassian to acquire former unicorn Loom for $975M

TechCrunch: M&A

Atlassian announced this morning that it is acquiring video messaging service Loom for $975 million, the same company that had a $1.53 billion valuation in May 2021 when it announced a $130 million Series C. That was when companies were still thinking about all work being cloud-based and the future looked oh so bright. As […] © 2023 TechCrunch.

Valuation 351
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Ford snaps up EV power startup to boost its charging tech

TechCrunch: M&A

Ford is buying and burying Auto Motive Power, or “AMP” for short, to bolster its charging, battery management and power conversion tech. The secretive energy startup once claimed to power “most of the world’s top electric OEMs,” though as far as we can tell it never disclosed its customers publicly. Following the deal, Los Angeles-based […] © 2023 TechCrunch.

IT 339
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WordPress.com owner buys all-in-one messaging app Texts.com for $50M

TechCrunch: M&A

WordPress.com and Tumblr owner Automattic is adding another company to its portfolio with today’s news that it has acquired the all-in-one messaging app Texts.com for $50 million. The app brings all your messaging apps together in a single dashboard, including iMessage, Slack, WhatsApp, Instagram, Telegram, Messenger, LinkedIn, Signal, Discord and X, with plans for more […] © 2023 TechCrunch.

Portfolio 328
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AI-powered parking platform Metropolis raises $1.7B to acquire SP Plus

TechCrunch: M&A

AI-powered parking platform Metropolis today announced that it raised $1.7 billion to acquire SP Plus, a provider of parking facility management services, in a combination of equity and debt.

Debt 327
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Airbnb acquires secretive firm launched by Siri co-founder

TechCrunch: M&A

Airbnb has acquired a secretive new AI startup, GamePlanner.AI, the company announced this morning. CNBC reports that the purchase price was around $200 million, a figure that TechCrunch was unable to confirm at publication time. GamePlanner was co-founded by Adam Cheyer and Siamak Hodjat. Cheyer famously helped co-launch the startup Siri, which Apple acquired and […] © 2023 TechCrunch.

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Sex Workers Have Been Shunned by Banks, Even When Their Work Is Legal

The New York Times: Banking

Financial service companies often avoid what they deem high-risk industries like adult entertainment. When workers lose their accounts, they are left with few options.

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How Does the World’s Largest Hedge Fund Really Make Its Money?

The New York Times: Banking

Ray Dalio’s investing tactics have always been a closely kept secret, even inside Bridgewater Associates. Several years ago, some of Wall Street’s biggest names set out to discover his edge.

Funds 141
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Jim Chanos, the short seller who called Enron's fall, is converting hedge fund to a family office

CNBC: Investing

The veteran investor, known for his bets against Tesla and Enron, will convert his hedge fund to a family office and advisory business, CNBC has learned.

Funds 144
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How Munger and Buffett's 60-year partnership was so special: 'Charlie and I have never had an argument'

CNBC: Investing

The journey to Munger and Buffett's unparalleled success was full of learning, experience and laughter, but never an argument.

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Gold Bars and Tokyo Apartments: How Money Is Flowing Out of China.

The New York Times: Banking

Chinese families are sending money overseas, a sign of worry about the country’s economic and political future. But a cheaper currency is also helping exports.

Economics 119
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Goldman Sachs says investors should go long on commodities, sees 20% upside

CNBC: Investing

Goldman recommends what it calls a 2024 deficits basket, going long on energy excluding natural gas and on industrial metals, excluding nickel and zinc.

Investors 144
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A recession is coming and investors should be defensive, TCW CEO says

CNBC: Investing

"We are going to have a recession, because that's the way the world works," TCW CEO Katie Koch said at CNBC's "Delivering Alpha" conference.

Investors 144
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'The bond vigilante is coming back,' UBS strategist says

CNBC: Investing

The "bond vigilantes are coming back" as investors continue to sell amid the prospect of a growing fiscal deficit, according to UBS Asset Management's Kevin Zhao.

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Warren Buffett has been selling stocks including Chevron and hoarding a record level of cash

CNBC: Investing

Thanks to a surge in bond yields, Berkshire's cash, which was mainly parked in short-term Treasury bills, grew to a record level of $157.2 billion.

Stock 145
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Wall Street hikes forecasts for anti-obesity drug sales to $100 billion and beyond. A look at the numbers

CNBC: Investing

Citi notched its estimate for incretin drug sales to $71 billion by 2035, up from its prior estimate of $55 billion. That view seems conservative. Here's why.

Sale 145
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This EV battery stock has potential double-digit gains ahead. UBS thinks it could even surge 100%

CNBC: Investing

It's the biggest stock by market capitalization in the index of largest stocks traded on the Shenzhen exchange — bigger than even BYD's local listing.

Stock 142
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Greece, Battered a Decade Ago, Is Booming

The New York Times: Banking

It is one of Europe’s fastest-growing economies, and while investors and tourists are flocking to the country, memories of austerity measures are still fresh for Greeks.

Investors 138