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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....
...Chicago-based Grant Thornton is the seventh largest accounting firm in the US after the Big Four, RSM and BDO, with $2.4bn in revenue in its past financial year, which ran to July 2023....
...Institutional Shareholder Services, another high-profile shareholder adviser, is recommending shareholders vote in favour of Abrdn’s proposals at its meeting....
...Like Hammack, he had previously been talked about as a potential candidate for chief financial officer. Goldman and Millennium declined to comment on Berlinski’s move....
...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 shift makes Citadel Securities the latest financial services company to increase its reliance on Big Tech cloud services and is a win for Google as Silicon Valley companies host more business traditionally...
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...For further reading: Are hedge fund pioneers facing the end of a golden era?...
...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....
...Even so, I imagine that plenty of those who keep the shares aloft until then would remain glad to have been of service....
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High-speed trading firm sued hedge fund last week over lucrative options trading strategy it claims were stolen
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...Spotify and Netflix, the pioneers of streaming for music and television, respectively, have entered a more mature phase for their businesses....
Decision hurts David Handler’s chances of securing potentially millions of dollars in equity he sought from the elite M&A boutique
...“Once companies, especially financial services companies, get to the $50bn market cap, their stock performance suffers,” Nuttall said. “Investor returns become more anaemic. Their growth slows.”...
...A number of financial institutions have tried to crack the US over the years. Not many have succeeded. Amundi, with aspirations to be Europe’s BlackRock, is making its bid for scale stateside....
...The Financial Times last week asked Apollo about its billing practices after the appeals court ruling....
...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...
...But he has offered few clear financial goals, causing impatience among investors....
...TPG has invested in partnerships such as talent agency Creative Artists Agency and registered investment adviser LPL Financial in recent years, and last year it made an unsuccessful pitch to buy into in...
...On Monday, the Virginia-based bank said it had agreed to acquire Discover Financial Services for $35bn, to be paid all in stock....
...The Spanish lender hired Morgan Stanley M&A banker David Luwisch, former Jefferies industrials banker David Bradley and former Bank of America financial sponsors banker Andrew Greenwald....
...The cuts would be equivalent to 5 per cent of the firm’s financial advisory division....
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