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...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...But regulators are studying the liquidity risks being stored up in these strategies, and the potential spillover effects for the wider financial sector....
...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...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...
...Advocates say private equity can bring more efficiency to the profession and access to capital for critical investment, but the financial terms of such deals can prove controversial....
...Abrdn’s shareholders have been urged by influential adviser Glass Lewis to vote against the asset manager’s pay report because of the incoming chief financial officer’s “significant” salary....
...As well as paying off obligations to retirees, the new structure involves repaying capital to current and former partners....
...Its notable deals include the advertising agency Young and Rubicam in 1996 and the wealth manager LPL Financial and business advisory group AlixPartners about a decade later....
...Rohit Bhat, managing director of capital markets, exchanges and digital assets at Google Cloud, said that high-frequency trading firms were a segment “that we are working very closely with”....
High-speed trading firm sued hedge fund last week over lucrative options trading strategy it claims were stolen
...More than a dozen smaller EU states fought back against efforts to unify Europe’s fragmented capital markets, highlighting the torturous politics around the decade-long financial reform effort....
...When the bill comes due, Capital One Financial will need to show it has the funds....
...Oil and refined products is one area where the available data on supply levels, demand patterns and logistical variables has ballooned in recent years, Barrack told the Financial Times....
...Tiger Global has raised $2.2bn for its latest venture capital fund, roughly a third of the $6bn target it touted to investors when it first announced the fund in 2022....
...US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, in an all-stock tie-up that is set to unite two of America’s largest credit card companies....
...Bhavesh Mistry, British Land’s chief financial officer, said the company estimated that 1mn sq ft of new or refurbished space would be delivered each year from 2024-2027, compared with 2mn sq ft of typical...
...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...
...He was a day-one investor in venture capital giant Sequoia Capital, as well as other leading private capital groups including Benchmark Capital and Hillhouse Investments....
...In his absence, we have a world-class line-up of Financial Times journos, including Katie Martin on the bull case for dividends....
...Some of the biggest deals struck in the quarter included Capital One’s $35bn acquisition of Discover Financial, and chip design toolmaker Synopsys’s $35bn takeover of engineering software maker Ansys....
Decision hurts David Handler’s chances of securing potentially millions of dollars in equity he sought from the elite M&A boutique
...This included scrapping the investment management deal, which the Financial Times reported last year. At the time, Credit Suisse said a change to the contract would lead to a $600mn loss for the bank....
...An OCC spokesperson said the agency had “not received a filing from Capital One regarding Discover Financial Services”....
...The figures suggest that top managers prioritise careful deployment of investors’ capital, rather than making the fund as large as possible....
...US lender Capital One is nearing a deal to buy rival Discover Financial, according to two people familiar with the matter, in a tie-up that would unite two of America’s largest credit card companies....
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