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...I’m not sure of the market relevance of either point, but there you go. Email us: robert.armstrong@ft.com and ethan.wu@ft.com....
...Gains for companies such as insurance group Skyward Specialty and biotech company Rayzebio more than offset losses for high profile tech flops like Instacart....
...It was mostly assembled in the early parts of the year when soaring interest rates and a spreading US regional banking crisis put M&A markets on ice....
...(Ethan laughs) I have a 3 per cent mortgage. I am like Scrooge McDuck over here. (Ethan laughs) Listeners, you can’t see it, but I have a top hat on and I’m wearing a monocle. Feels pretty good....
...The last time the industry saw such a big haul was in 2007 when John Paulson made about $15.6bn betting against subprime mortgages. It’s a huge feat for the soon-to-be Florida-based firm....
...With the US economy slowing down, stocks crashing at the end of the decade and the M&A group battered, First Boston was eventually forced into the hands of Credit Suisse....
...One thing to start: Intercontinental Exchange has deepened its push into the US housing market data business, striking the largest deal in its history by agreeing to purchase mortgage software company Black...
...He also spoke of more opportunities at Ellie Mae, the mortgage software provider ICE bought last year for $11bn....
...MA&W point out that in the early 1950s, unemployment was very low, economic growth was strong and inflation spiked....
...“I’m really excited about the opportunities ahead of us,” Kern said, before adding: “I’m not crazy.” Bereft of revenue, Expedia urgently needed cash to cope with the economic impact of coronavirus....
...“Many people suspect I’m a ‘white glove’ for the government,” he told the WSJ in 2015. “But we’re really just a very market-oriented company.”...
...James Anderson, who has managed the £17.5bn Scottish Mortgage Investment Trust since 2000, will step down in April next year. Read more here....
...Perella was one of the first specialist M&A bankers, making his name at First Boston in the 1970s....
...Adelson agreed to help, telling the then president: “I’m a Republican, but I’m first an American.” His donations also made him hugely influential in US policy towards Israel....
...Based on our revised forecasts, Hikma trades on a 2021E P/E of 16.6x, a 26% discount to its UK specialty peers....
...Payment holidays on credit cards, mortgages and rents are also masking the current stress on loan books....
...Causeway Capital Management LLC, the LA hedge fund, has declared 4.88 per cent of Micro Focus....
...Hank Paulson did the same job in George W Bush’s administration. Gary Cohn was economic adviser to Donald Trump....
...Best placed if the recovery is W shaped: Hays' average cons FY20/21e EPS are cut by c.70% YTD vs. 35-60% downgrades for others. We see limited downside even if the recovery is W shaped....
...This is driven by General Tool rental -18% (due to volumes, not rates), and Specialty Rental +9% y/y (benefiting from providing emergency response services)....
...Private equity firm Thoma Bravo has agreed to buy Ellie Mae in an all-cash deal it said valued the provider of mortgage software at $3.7bn....
...“[W]e prefer companies that: (1) have a diversified game portfolio; (2) use M&A to add proven IP to their portfolios and aid audience diversification, and (3) have a relentless focus on live services....
...[W]e expect focus on another weak quarter for Other Income and a quarterly run-rate below consensus expectations....
...He had defaulted on the mortgage on his Neverland ranch in California, a country-style house with its own zoo, and no bank would help....
...Lead organisation/individual: Lenczner Slaght, T.M.C....
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