Hints and tips:
...Clifford Chance has elected Charles Adams as the firm’s next global managing partner, succeeding Matthew Layton....
...Additional reporting by Matthew Rocco in New York...
...Maryland, Texas and New Jersey had the steepest declines....
...West Texas Intermediate, the US benchmark, dropped by a penny to $40.62 a barrel. Additional reporting by Alice Woodhouse in Hong Kong, Harry Dempsey in London and Matthew Rocco in New York...
...Evercore v Lazard: the boutique turf war Boutique investment bank results are streaming in, and with two of the biggest advisory shops posting their annual figures, we thought it might be a good time to...
...Whole Foods has hired Evercore to advise it on a strategic review of its business operations, which could include exploring a sale, said one person close to the company, based in Austin, Texas....
...Paul Singer’s Elliott Management and Matthew Halbower’s Pentwater Capital are among those caught up in US chipmaker Qualcomm’s $44bn pursuit of NXP Semiconductors, a takeover first agreed when Barack Obama...
...That’s what we’re constantly fearful of,” says Matthew Brill, a portfolio manager with Invesco. “Go back to 2006-07 and a lot of that M&A . . . started right before the music stopped.”...
...Kroger, one of the world’s biggest supermarket chains, had 9.2 per cent wiped from its share price to $22.29....
...West Texas Intermediate was down 0.1 per cent $47.04 a barrel. Gold fell 0.1 per cent to $1,287.49 following a $5.04 rise in the previous session after the Spanish terrorist attack....
...FT Opening Quote, with commentary by Matthew Vincent, is your early Square Mile briefing. You can sign up for the full newsletter here....
...But as the Bloomberg story notes, LPs of both firms are left to wonder how conflicts will be managed....
...FT Opening Quote, with commentary by Matthew Vincent, is your early Square Mile briefing. You can sign up for the full newsletter here. Debt? Dontcha just love it!?...
...That ugliest fight is with Ted Cruz, the firebrand Texas senator who claims the mantle of the true social conservative among the leading contenders and paints Mr Trump as a fake....
...Mr Trump and Mr Cruz, the firebrand Texas senator, are neck and neck in the agricultural state, far ahead of Marco Rubio, the Florida senator and closest centrist to the frontrunners....
...(Politico) Campaign commentary Against Trump, Clinton should tack left (Katrina vanden Heuvel, WaPo) Sadiq Khan v Trump (Roger Cohen, NYT) Sanders is bound to back Clinton (Matthew Yglesias, Vox) Political...
...Mr Trump leads Mr Cruz, the Texas senator, in polls of Iowa Republicans and has pulled away slightly in recent days....
...Texas senator Ted Cruz kept his campaign alive with a win in his home state and a victory in Oklahoma....
...Here’s a chart comparing two-month changes in the amount of US dollars you can buy with a single Canadian dollar against changes in the price of West Texas Intermediate: (Source: Bloomberg, author’s calculations...
...Annualised returns ranged from 200 per cent at Herbalife, the nutritional supplement seller, to minus 81 per cent at Dynegy, the Texas power company that failed to find a buyer and collapsed into bankruptcy...
...(Financial Times) - Matthew Klein: How can we tell if Abenomics is working? (Bloomberg) - Hedge funds, including Paulson & Co, are betting on a Fannie and Freddie rise....
...However, TPG V – which began investing in 2006 and is one of TPG’s largest funds with $15bn in commitments – has suffered from very poor performance....
...Today, the group’s flagship TPG V fund is still valued at less than 100 cents on the dollar, as several investments of more than $1bn in equity such as Washington Mutual and Aleris have already gone bust...
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