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...H&F has invested in business services companies such as advertising agencies, advisory firms and insurance brokerages for decades....
...Goldman and Millennium declined to comment on Berlinski’s move. Englander has built Millennium into a hedge fund that increasingly resembles the markets division of a global bank....
...As part of the changes, Deloitte’s advisory businesses, which advise companies on everything from technology to dealmaking and also includes its tax and legal unit, will be cut to three divisions from four...
...The Public Company Accounting Oversight Board fined PwC’s Greek business $3mn on Tuesday and levied a $500,000 penalty on KPMG in Japan on Wednesday for failing to meet US standards in their audits of New...
...“The situation is now severe with politically painful decisions ahead on cutting public services that will be incomprehensible to the French.”...
...Privately held Vitol, which employs about 1,800 people, made a record $15.1bn in net profit in 2022 and about $13bn in 2023, making it one of the most profitable companies in the world on a per capita basis...
...Some have blamed this on Google’s fragmented structure, big-company bureaucracy and the lack of a coherent company-wide plan for rolling out generative AI across its range of products and services, the Financial...
...The original Credit Suisse deal with Apollo led to the alternative investment manager taking on one of the Swiss bank’s most profitable divisions, but one that required a lot of capital....
...This week, meanwhile, the FT reported that the company was working on adding a premium, paid-for “tier” of generative AI services to its search engine....
...The cuts would be equivalent to 5 per cent of the firm’s financial advisory division....
...Capital One and Discover said on Monday that the transaction is expected to generate expense synergies of $1.5bn in 2027 and deliver a return on invested capital of 16 per cent in 2027....
...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....
...On the pitch, the company’s TacticAI system reflects both the possibilities and current limitations of intensive efforts to use AI to gain a sporting edge beyond that offered by existing data analysis methods...
...“Our view was to get everything on the table; have a discussion and make sure the lines of communication are open,” he said....
...The adoption of AI comes at a time when professional services firms are seeking to reduce costs amid a slowdown in demand for some of their services in a difficult economic environment....
...“We remain focused on durably re-engineering our cost base to create investment capacity to support our growth priorities, most important of which is with AI,” said Porat....
...The conditions remain in favour of financial performance for other divisions of defence and space, and global services....
...But Vista held Finastra in an older fund with little dry powder, forcing it to rely on financial engineering....
...The dealmaking push also involved a myriad of complex financial engineering techniques....
...The rollback comes just three months after the company triumphed in winning permission to expand its service. It is working with Honda to launch driverless cars in Tokyo by 2026....
...She has a strong record of delivering profits at Boeing’s services business while both the commercial and defence divisions floundered....
...On Wednesday, Scott Nuttall, co-chief executive of KKR, conceded that returns for large public companies such as KKR are often mixed....
...And last month came our latest chapter on how firms are pawning assets to raise cash to deleverage individual companies. But wait, there’s more....
...The fine print of the Ohtani agreement reveals sophisticated financial engineering for both sides: Ohtani has opted to defer $680mn of his deal until after his playing days, taking just $2mn in salary per...
...Pope was previously head of the aircraft maker’s services business — its only division to deliver a profit in recent years....
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