Hints and tips:
...Spain’s beautiful deal machine The little-known Spanish beauty group Puig may be the sector’s next big IPO, with bankers valuing it at €8bn-€10bn....
...And for all the flaws of the current approach to equity and inclusion, Edmans et al say it does seem to be bearing some fruit: the average DEI score from their calculations has risen from 4.1 out of 5 in...
...Chart of the day Russia’s stock market has climbed to its highest level in more than a year as domestic retail investors with nowhere else to go snap up dividend-paying stocks that sold off heavily following...
...These institutional investors had typically divided their assets between stocks and bonds....
...The transformation has gone largely unnoticed outside of the UAE and is little understood — even by local bankers....
...Even those betting against SVB’s stock were taken aback by the herd-like behaviour....
...There is for sure a debate to be had about when the Federal Reserve et al should have pivoted their stance more forcefully to tackle inflationary pressures, and what they should and shouldn’t do now....
...group Market Forces....
...Companies that sell software to insurance groups have also fared better....
...Bank of America has promoted senior investment bankers Will Addas, Gary Howe and Giorgio Cocini to run its global financial institutions investment banking group....
...TPG appoints bankers to work on IPO The private equity group, which has $96bn in assets under management, has appointed Goldman Sachs and JPMorgan Chase to work on an initial public offering....
...A decade earlier, David Blood, a former Goldman Sachs banker, had joined forces with Al Gore, the former US vice-president who had made the environmental documentary An Inconvenient Truth, to create an investment...
...It’s a feature that a private banker who advises them on how to spend it described as “life-changing”....
...Andrew Garthwaite et al at Credit Suisse has had a fiddle about with the model portfolio, resulting in insurers getting a push....
...It is against this background that Hopp et al have raised their heads above the parapet....
...(FT) KKR to buy life insurer Global Atlantic The private equity group is paying $4.4bn for the former life insurance unit of Goldman Sachs....
...Insurance start-up Lemonade is also planning to go public but has not yet set a timetable for its IPO on the New York Stock Exchange....
...There’s not much precedent to support the idea that Shina et al can walk away based on a MAC clause: WPP was forced against its will to buy Tempus in 2001, Guy Hands couldn’t scrap a bid for East Surrey...
...Future central bankers could end up ruing the Fed’s current path. (FT) The end of globalism is here It has become increasingly obvious that 2006 was the peak year of globalisation....
...And, as lockdown measures are softened, the return of the likes of Gregg's, Starbucks et al to the UK FtG market will increase competition....
...Khalid al-Falih, Saudi energy minister, also said the crisis with Canada would not affect relations between energy group Saudi Aramco and its customers in the North American country....
...Sheila Bair, who previously chaired the Federal Deposit Insurance Corporation, was also named to the board....
...Institutions such as Daiichi Life, a Japanese insurance company, and individual investors have invested in the bonds....
...(FT) Trade war insurance US universities are looking to buy insurance policies against a drop in revenue from international students, fearing they are overexposed to China amid geopolitical tensions....
...Bankers fell over themselves to facilitate Aramco’s acquisition of Sabic, the state petrochemicals group, from the kingdom’s Public Investment Fund....
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