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...The business was viewed as one of the bank’s most successful units, but took up too much capital and was jettisoned as part of a final restructuring plan....
...To get the merger approved, Capital One is making a case that there is little overlap between the two banks’ credit card businesses....
...But the discussions underscore JPMorgan’s efforts to own a payments network to support its cards business and lessen its reliance on third parties such as Visa and Mastercard....
...As well as paying off obligations to retirees, the new structure involves repaying capital to current and former partners....
...Google is considering charging for new “premium” features powered by generative artificial intelligence, in what would be the biggest ever shake-up of its search business....
...According to people with knowledge of the sales process, which is being run by Goldman Sachs, private equity firms Bain Capital and Permira are also weighing up a bid for the business....
...The US arm of accounting firm Grant Thornton has agreed to sell a majority stake to the investment group New Mountain Capital, in the largest of a wave of private equity deals that are reshaping the sector...
...However, an increasing number of UK boards are boosting chief executive pay to compete with US peers in an attempt to retain and attract talented managers, which has been cited as a hindrance to Britain’s capital...
...H&F has invested in business services companies such as advertising agencies, advisory firms and insurance brokerages for decades....
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High-speed trading firm sued hedge fund last week over lucrative options trading strategy it claims were stolen
...“It’s a different time, and different business. The focus is not ‘bigger is better’, it’s on performance.”...
...“But I would say that it’s helping with business efficiency today more than cracking the code of what the market is going to do this afternoon.”...
...They’re favouring doing more with a smaller set of managers, rather than spreading business across a lot of managers....
...The firm also named Chris Gordon and Robin Marshall as the heads of its global private equity business....
...He had met the co-head of Barings’ private finance group Adam Wheeler years earlier, when Wheeler worked at Australian firm AMP Capital, although Weightman said that this brief encounter had no bearing on...
...Neil Purslow Chief Investment Officer, Therium Capital Management, London WC1, UK...
...UBS has agreed to sell $8bn worth of loans to private capital group Apollo as part of a renegotiated deal to hive off a Credit Suisse business that securitised loans for assets such as yachts....
...How peculiar is it to measure success in business by selling the business, not by benefiting from the success of the business? You actually have to part with an asset....
...“Ultimately we are a workplace and our policies and expectations are clear: this is a business, and not a place to act in a way that disrupts coworkers or makes them feel unsafe, to attempt to use the company...
...“Firms desperately need capital to transform the business,” he said....
...When the bill comes due, Capital One Financial will need to show it has the funds....
...In a further sign of support, the Chinese capital has started road-testing unmanned police patrol vehicles....
Appeals court says group’s practices troubling enough to reverse previous decision over former senior partner
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