In a statement the President of the Richmond Federal Reserve said, the U.S. economy may be “on the brink of completing the recovery” from the recession that was triggered by the coronavirus-induced COVID-19 pandemic. “Vaccines are rolling out, and case… Read More ›
In a statement AT&T Inc said, it plans on selling nearly a third of its stake in DirecTV to buyout firm TPG Capital in a deal that values the business at $16.25 billion. Less than 6 years ago it had… Read More ›
According to a report from Bloomberg News citing sources familiar with the matter at hand, SoftBank Group Corp’s Vision Fund has significantly written down its $1.5 billion investment in supply-chain finance company Greensill Capital. According to the report, SoftBank’s Vision… Read More ›
In a statement Brazilian asset manager Patria Investments Ltd said it is slated to reach a valuation of between $1 billion to $1.6 billion in its planned initial public offering (IPO) on Nasdaq. On December 30, Patria, which has $13… Read More ›
On Tuesday, in a statement Credit Suisse said, a judge who is presiding over a more than a decade long lawsuit regarding a U.S. residential mortgage backed security (RMBS) has asked it along with another party to issue estimates of… Read More ›
According to two sources familiar with the matter at hand, the U.S. State Department has submitted a proposal to the Trump administration to add China’s Ant Group to its Entity List. The development comes at a time when when the… Read More ›
Midst tumbling valuations and frosty political climate, large investment banks are backing out of Chinese IPOs on Wall Street, and are forced to slash the size of their deals. In the last few months, big banks including Bank of America,… Read More ›
On Friday, Credit Suisse stated, it aims to buy back shares worth at least $1.03 billion (1 billion Swiss francs) by the end of 2020. The share buyback program will be subject to market and economic conditions, and comes in… Read More ›
In a statement, International Flavors & Fragrances Inc stated, it will merge with DuPont Inc’s nutrition & bio-sciences unit in a deal worth $26.2 billion. Under terms of the agreement, DuPont’s shareholders will get 55.4% of the shares in the… Read More ›
Resolution plans, also known as living wills, require large banks to detail how they could be unwound in cases of bankruptcy with minimal disruption to the financial system. In a significant development, U.S. bank regulators stated they have not found… Read More ›
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