By Milana Vinn and David French (Reuters) – Buyout firm TPG has emerged as the frontrunner to pick up a minority stake worth $2 billion in Creative Planning, in a deal that could value the wealth management firm at more than $15 billion, people familiar with the matter said on Saturday. The deal would mark […]
Morgan Stanley’s private equity arm explores sale of HVAC firm Sila, sources say
By Abigail Summerville NEW YORK (Reuters) – Morgan Stanley’s middle-market buyout arm is exploring a sale of Sila Services that could value the residential services company at about $1.5 billion, including debt, people familiar with the matter said on Friday. King Of Prussia, Pennsylvania-based Sila, which is a provider of services including heating, air-conditioning, and […]
Natgas producer BKV valued at $1.56 billion in NYSE debut
(Reuters) -Shares of BKV rose 3.1% in their debut on the New York Stock Exchange on Thursday, giving the U.S. natural gas producer a market capitalization of $1.56 billion. The beginning of the U.S. Federal Reserve’s long-awaited interest rate-cutting cycle has opened a window of opportunity for companies looking to list their shares. Some are […]
US IPOs set to extend recovery after staging a solid comeback
By Niket Nishant and Manya Saini (Reuters) -The U.S. IPO market has bounced back strongly in 2024 after a nearly two-year dry spell, driven by receding recession fears and a searing rally in stocks. Still, investor preference for companies with a clear path to profitability has kept enthusiasm in check, with analysts expecting a recovery […]
Ford, GM shares fall after Morgan Stanley analyst downgrade
NEW YORK (Reuters) – Shares of Ford Motor and General Motors fell about 5% on Wednesday after Morgan Stanley analysts downgraded the U.S. automakers, citing a challenging market environment marked by falling prices and growing competitive threats particularly from China. Legacy U.S. automakers are faced with high inventories, falling prices, and signs of weakening consumer […]
FTC announces crackdown on deceptive AI claims, schemes
By Jody Godoy WASHINGTON (Reuters) -The U.S. Federal Trade Commission announced actions against five companies on Wednesday that it said used artificial intelligence in deceptive and unfair ways. Three of the cases suspended operations at businesses that purported to help consumers generate passive income by opening e-commerce storefronts. The FTC also settled with a company […]
Microsoft to spend $1.3 billion in Mexico on cloud, AI tech
MEXICO CITY (Reuters) -Tech giant Microsoft will invest $1.3 billion over the next three years to build up its infrastructure in Mexico for cloud computing and artificial intelligence, the company announced on Tuesday. The fresh funds will go toward improving connectivity and boosting the adoption of AI technology by small and-medium sized businesses (SMBs), the […]
Italy approves BlackRock holding more than 3% in Leonardo
ROME (Reuters) -Italy has approved BlackRock, the world’s biggest asset manager, holding a stake of more than 3% in Italian defence and aerospace group Leonardo, a document seen by Reuters showed on Monday. The document, sent by Italian Prime Minister Giorgia Meloni’s office to parliament, deals with so-called “golden power” decisions. Rome has “golden powers” […]
SEC approves BlackRock’s spot bitcoin ETF options listing
(Reuters) -The U.S. Securities and Exchange Commission has approved listing and trading of options for asset manager BlackRock’s spot bitcoin exchange-traded fund on the Nasdaq. Options trading for BlackRock’s fund iShares Bitcoin Trust has been approved with ticker symbol “IBIT”, the regulator said in a notice on Friday. The index options – listed derivatives offering […]
Swiss regulator investigating Credit Suisse’s final months, report says
ZURICH (Reuters) – Swiss financial market regulator FINMA ordered an audit into Credit Suisse’s handling of events leading to its demise in 2023, when the bank was acquired by its longtime rival UBS, Swiss newspaper SonntagsZeitung reported on Sunday. According to the paper, FINMA is looking at the 15 months prior to the state-orchestrated merger […]