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Mirae Asset’s $43bn subsidiary names Ryan O’Connor as chief executive
...Concord said it “remains committed to becoming the new owner of Hipgnosis”....
...Substantial financial and governance changes would be necessary to improve its financial performance, it added....
...This means it could try to acquire the portfolio at market value if the board continues to back the Concord offer....
...Blackstone swept in, offering $1.24 per share in cash compared with Concord’s offer of $1.16....
...“I think we need a change, and I will vote for anybody but Trump . . . if I vote for her, it is one less for him,” she told the Financial Times....
Admonitions about staff trading in their employer’s shares may now need to be broadened
...We truly have a market system that has been captured by large corporations, something that I experience nearly every day in my own working life....
...It’s worth noting also that while Hipgnosis imploded and sector peers like Concord have responded to higher-for-longer interest rates by bulking up, the music-as-annuity business model has kept working for...
...The board of the Federal Deposit Insurance Corporation on Thursday was scheduled to vote on the proposals, one from Republican member Jonathan McKernan and the other from Rohit Chopra, a Democrat....
...It was taken over in 2012 by Leucadia National Corporation, an oil-to-beef conglomerate, but the merged company pared back its other investments to focus solely on investment banking work....
...BlackRock said it had “paid all of its UK corporation tax, including the payment some time ago of all tax due in relation to this matter”, and that the “purpose of this hearing relates to the operation of...
...Only in the 1950s did it embark on its policy of low corporation tax, luring many foreign companies, from which it benefits so much today....
...Davie’s speech comes as the broadcaster contends with huge financial challenges as a result of a government-imposed two-year freeze in the licence fee, which is payable by all households who watch live TV...
...McKernan told the Financial Times he wants to monitor compliance with those “passivity letters” by asset managers....
...Miles Celic, chief executive of financial services lobby group The CityUK, welcomed the announcements....
...It was on view in an Apollo deal with Concord Music late last year, at a time when the music publisher needed to refinance its existing debts....
...KKR was also holding talks with large corporations and other private equity buyers about potential asset sales, they said....
...I am reading in the FT that Martin Gruenberg, chair of the US financial regulator, the Federal Deposit Insurance Corporation, has criticised the rescue of Credit Suisse (“Credit Suisse rescue deal was unhelpful...
...Such insurers tend to hold a higher proportion of illiquid assets, and the fund has urged national regulators to consider the risks to the wider financial sector....
...Under CVC’s ownership, Teneo has expanded into other areas through acquiring units carved out from larger corporations, including the purchase of the UK restructuring arm of Deloitte....
...They also expect the corporations with which they interact as shareholders, consumers and employees to be equally proactive....
...In April the Enforcement Directorate, the country’s financial crimes agency, launched an investigation into the BBC....
...“I have a policy: there is no such thing as deal breakers,” Hayward told the Financial Times in an interview....
...If the guidelines come into force, it will be the first time since the financial crisis that the watchdog has updated its rules governing takeovers....
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