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March 6, 2021

Banking & Investment Services (TRBC level 2)

‘A side of shares’: Deliveroo to offer 50 million pounds of stock to customers

Reuters
LONDON, March 7 (Reuters) – Deliveroo said shares worth 50 million pounds ($69 million) would be earmarked for customers in its upcoming flotation, with the offer branded “Great food with a side of shares”. The Amazon-backed food delivery firm announced plans on Thursday to list in London, with a potential......

Breakingviews – Capital Calls: Michael’s recycled buyout

Reuters
A signage at a Michaels arts and crafts store is seen in the Loma Portal area of San Diego, California January 27, 2014. REUTERS/Sam Hodgson NEW YORK (Reuters Breakingviews) – Concise insights on global finance in the Covid-19 era. ————————————————- SCRAPS. Apollo won’t have to be too creative with Michaels.......

China’s CIC eyes U.S. investment after fund with Goldman raised $2.5 billion

Reuters
BEIJING (Reuters) – China’s $1 trillion sovereign wealth fund is scouting for long-term investment opportunities in the United States, an executive said, after a fund co-established with Goldman Sachs Group Inc raised $2.5 billion, half of the targeted amount. The China-U.S. Industrial Cooperation Fund, launched in November 2017 on the......

Private equity-backed healthcare platform Alignment files for IPO

Reuters
March 3 (Reuters) – Alignment Healthcare Inc, a healthcare platform backed by private equity firms Warburg Pincus and General Atlantic, revealed a jump in revenue in its filing for an initial public offering on Wednesday. The company said its revenue surged 27% to $955.4 million for the year ended Dec.......

Upbeat brokers lift Volkswagen’s market value above 100 billion euros

Reuters
FILE PHOTO: An employee fixes a VW sign at a production line of the electric Volkswagen model ID.3 in Zwickau, Germany, February 25, 2020. REUTERS/Matthias Rietschel/File Photo FRANKFURT (Reuters) – Shares in Volkswagen, the world’s second-largest carmaker, rose to their highest in more than three years on Wednesday, boosted by......

Chinese fintech platforms should meet capital requirements in two years

Reuters
FILE PHOTO: China’s top banking regulator Guo Shuqing speaks to reporters on the sidelines of the National People’s Congress (NPC) at the Great Hall of the People in Beijing, China, March 5, 2019. REUTERS/Thomas Peter BEIJING (Reuters) – China’s financial technology companies have a maximum of two years to meet......

Cloud tech use in forex trading to soar by 2025: survey

Reuters
FILE PHOTO: Saudi riyal, yuan, Turkish lira, pound, U.S. dollar, euro and Jordanian dinar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration LONDON (Reuters) – A bulk of the trading in the $6.6 trillion-a-day foreign exchange markets is expected to be on cloud technology over the......

China shares bounce higher; investors shrug off factory growth slowdown

Reuters
* SSEC +1.21%, CSI300 +1.54% * Follows >5% fall last week, biggest weekly drop in a year * Factory activity growth slows in February SHANGHAI, March 1 (Reuters) – China shares ended higher on Monday, rebounding from their biggest weekly loss in a year as investors bought shares bruised by......

Goldman’s consumer banking head Omer Ismail joins Walmart’s fintech venture- Bloomberg News

Reuters
Feb 28 (Reuters) – Goldman Sachs Group Inc’s consumer banking chief Omer Ismail is leaving to join Walmart Inc’s fintech venture, Bloomberg reported bloom.bg/3sGgEXn on Sunday citing people with the knowledge of his plans. David Stark, one of his top lieutenants at Goldman, will also join him, the report added.......

China’s factory activity growth likely moderated during Feb holiday lull: Reuters poll

Reuters
BEIJING (Reuters) – China’s factory activity likely grew at a slightly slower rate in February as factories closed for the Lunar New Year holiday, a Reuters poll showed, although growth is expected to remain firm, buoyed by an early resumption of production. FILE PHOTO: A worker wearing a face mask......

Breakingviews – Capital Calls: Aston Martin makes Tesla look cheap

Reuters
An Aston Martin logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. LONDON (Reuters Breakingviews) – Concise insights on global finance in the Covid-19 era. ————————————————- CAR SICK. Move over Elon Musk. On Thursday, shares in Aston Martin Lagonda jumped by 5% despite......

UK will resist EU pressure on banks over clearing: BoE’s Bailey

Reuters
FILE PHOTO: Chief Executive of the Financial Conduct Authority Andrew Bailey speaks at a press conference at the Bank of England in London, Britain February 25, 2019. Kirsty O’Connor/Pool via REUTERS/File Photo LONDON (Reuters) – Britain will resist “very firmly” any European Union attempts to arm-twist banks into shifting trillions......

Breakingviews – Capital Calls: Hermès bags are the new safe asset

Reuters
A staff member poses holding a rare Hermes handbag, the mat white Birkin Himalaya 35 during an auction preview at Christie’s in Paris, France, March 4, 2016. LONDON (Reuters Breakingviews) – Concise insights on global finance in the Covid-19 era. ————————————————- SAFE AS HÈRMES. The French luxury icon’s handbags have......

FOREX-Dollar pummelled, Aussie soars as reflation trades grip FX markets

Reuters
* Graphic: World FX rates tmsnrt.rs/2RBWI5E LONDON, Feb 24 (Reuters) – The dollar remained at multi-year lows against the Antipodean currencies and held near a one-month low versus the euro as reflation trades gripped the currency markets on Wednesday. Federal Reserve Chair Jerome Powell reiterated on Tuesday that U.S. interest......

Breakingviews – Capital Calls: Mitsubishi reverses into France

Reuters
Mitsubishi Motors’ CEO Takao Kato and COO Ashwani Gupta pose next to the Mi-Tech concept car during the Tokyo Motor Show, in Tokyo, Japan October 23, 2019. REUTERS/Soe Zeya Tun – RC1C1EFD09F0 HONG KONG (Reuters Breakingviews) – Concise insights on global finance in the Covid-19 era. ————————————————- PUSHED AROUND. Mitsubishi......

Breakingviews – Capital Calls: Wells Fargo slims down

Reuters
A woman walks past Wells Fargo bank in New York City, U.S., March 17, 2020. NEW YORK (Reuters Breakingviews) – Concise insights on global finance in the Covid-19 era. ————————————————- GOOD THINGS COME. Wells Fargo is U.S. finance’s biggest doer-upper. The $2.1 billion sale of its asset management unit on......

Breakingviews – Capital Calls: Bank mergers

Reuters
A man is reflected as he walks past the widow of an M&T Bank branch in New York August 27, 2012. REUTERS/Brendan McDermid NEW YORK (Reuters Breakingviews) – Concise insights on global finance in the Covid-19 era. ————————————————- PEOPLE’S POWER. Mergers between U.S. banks are needed but not always lauded......

Breakingviews – Capital Calls: LVMH taps Jay-Z for booze revival

Reuters
Shawn “Jay-Z” Carter, a founding partner of Reform Alliance, a newly formed organization to reform the U.S. criminal justice system, speaks during the Reform Alliance launch event in New York City, New York., U.S., January 23, 2019. LONDON (Reuters Breakingviews) – Concise insights on global finance in the Covid-19 era.......

Oscar Health to raise as much as $1.05 billion in IPO

Reuters
(Reuters) – Oscar Health, a health insurance start-up backed by Google parent Alphabet Inc, will raise as much as $1.05 billion in its initial public offering, according to a regulatory filings on Monday. The offering is expected to be priced between $32 and $34 per share, valuing the company at......

Saudi defence firm SAMI targets $5 bln annual revenue by 2030

Reuters
DUBAI, Feb 22 (Reuters) – State-owned Saudi Arabian Military Industries (SAMI) aims to generate annual revenue of $5 billion by 2030, its chief executive said on Monday, part of a drive to build more defence equipment inside the kingdom. Saudi Arabia, one of the world’s largest buyers of foreign arms......

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