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Investment Banking Fees Expected to Drop 50% at JPMorgan Chase
Third-quarter investment banking fees at JPMorgan Chase will be half what they were at the same time last year, for the second period in a row, the bank reported. Of course, the third quarter of 2021 raked in the most fees ever, and the year in total set records...
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Sitio Royalties to Merge With Brigham Minerals in $4.8B Deal
In what would create the largest publicly traded mineral and royalty company in the United States, Sitio Royalties Corp. and Brigham Minerals Inc. have announced an agreement to merge in a $4.8 billion all-stock transaction...
RedBird Capital Buys A.C. Milan for $1.2 Billion
An investment firm with ties to the New York Yankees and Boston Red Sox has acquired seven-time European soccer champion A.C. Milan. RedBird Capital Partners’ $1.2 billion purchase of the Italian league champion is the latest in a series of sports industry acquisitions...
Popular 60/40 Portfolio Strategy Suffers
The 60/40 portfolio, a tried-and-true long-term investment strategy, has had its worst year since 1936, according to Bank of America Global Research data. A recent synchronized selloff of stocks and bonds is to blame...
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Will China Ever Surpass U.S. GDP?
Economists have long expected China’s gross domestic product to exceed that of the U.S. by the end of the decade, but the projection has become dubious with a continued slowdown in China’s growth due to harsh COVID-19 restrictions and attempts to tamp down real estate speculation...
Remote Work Trails Off as Big Banks Announce New COVID-19 Protocols
Big bank employees are beginning to return to their offices, following an initial delay caused by the COVID-19 Omicron variant earlier in 2022. As remote work drops off, Wall Street’s major financial firms have issued new protocols, characterized by a lessening of pandemic restrictions...
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Insurance Leader Abacus Life to Go Public in Deal with Buffalo...
Abacus Life, a leading buyer of life insurance policies and a vertically-integrated alternative asset manager, has announced a merger agreement with East Resources Acquisition Company (ERES), a special purpose acquisition company (SPAC). Abacus will go public following the closing of the deal, which is expected in late 2022...
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$2.4B Three-Way Merger to Tackle Kidney Disease, Offer Value-Based Care
A triumvirate of kidney care providers have announced a three-way, $2.4 billion deal to form a value-based company targeting early-stage disease. InterWell Health, Fresenius Health Partners, and Cricket Health will combine their varied expertises to create an industry leader on track to having $11 billion in costs under management by 2025...
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Companies Meet Labor Challenges, Electric-Vehicle Production With Robots
Facing tight labor markets, increasing payrolls, and new electric-vehicle goals, North American companies purchased lots of robots in the first half of 2022, according to Reuters. Businesses bought 25% more machine workers during the second quarter than they did the year before, data from the Association for Advancing Automation (A3) reported, buying 12,305 robots valued at $585 million...
Will the U.S. Have Enough Lithium to Meet 2030 Climate Goals?
The average electric car battery requires eight to 10 kilograms of lithium, thus having enough of the metal is essential for the transition to emission-free vehicles. And having enough of it – on time – is essential for meeting the goals set out in the Inflation Reduction Act signed into law in August...
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Hertz Appoints Scott M. Haralson as Chief Financial Officer
Hertz Global Holdings, a prominent global rental car company, has announced the appointment of Scott M. Haralson as Chief Financial Officer. "His deep expertise in financial management and leveraging the capital markets to drive business transformation will be invaluable to Hertz as we rotate our fleet, deliver operational excellence, build greater cost discipline and undertake other key initiatives to improve our financial performance", stated Hertz CEO Gil West...
Navan Appoints Amy Butte as Chief Financial Officer
Navan, the comprehensive super app simplifying travel and expense management, announced the appointment of Amy Butte as Chief Financial Officer effective June, 2024. Butte, who joined Navan's Board of Directors in April 2024, has resigned from her role as Audit Committee Chair to assume this executive position...