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Global Leader in Cement to Acquire U.S. Roofing Manufacturer for $1.29...
The world’s largest cement manufacturer, Holcim AG, has announced it will buy U.S. roofing maker Duro-Last for $1.29 billion. The Swiss-based Holcim said it expects the recently-passed Inflation Reduction Act (IRA), with its allocations for nationwide construction projects, to create opportunities in the U.S...
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QAD Acquires Connected Workforce Solution Redzone for About $1 Billion
Enterprise software company QAD Inc. has acquired Redzone, the leading connected workforce platform for manufacturing, for approximately $1 billion. The transaction is the second for Thoma Bravo-owned QAD since December, when it acquired Livejourney, a provider of a real-time process mining and predictive modeling designed to discover, monitor, and improve business processes...
The Stock Market Has Plateaued, Goldman Sachs Says
The stock market may not do any better in 2023 than it’s doing now, according to Goldman Sachs’ predictions for the rest of the year. “A soft landing — and in fact above-trend growth — is already priced in U.S. equities. Valuations are elevated vs. history and will be constrained by an eventual rise in interest rates...
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Job Strength May Cause Inflation to Linger, Says Fed Chair
With a better-than-expected jobs report in early February, inflation may “take quite a bit of time” to level off, U.S. Federal Reserve Chairman Jerome Powell said at the Economic Club of Washington, according to Reuters. Economic strength from 517,000 added jobs may threaten the Fed’s progress in lowering inflation, since interest rates may have to move higher...
U.S. Investment Banks Collect $27 Billion in Fees in 2022
The world’s top five investment banks, all American, earned more than $27 billion in fees in 2022, according to data acquired by financial website Finbold. JP Morgan led the group with $6.92 billion. Goldman Sachs earned $6.5 billion; Bank of America Securities, $5.52 billion; Morgan Stanley, $4.61 billion; and Citibank, $3.96 billion...
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EV Maker Lotus Tech to Merge With L Catterton Asia Acquisition...
Luxury electric vehicle (EV) maker Lotus Tech Inc. and L Catterton Asia Acquisition Corp. will form a combined entity in a transaction valued at $5.4 billion, the companies recently announced. The merger will speed up Lotus Tech’s efforts to deliver sustainable, all-electric vehicles worldwide...
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GI Partners to Acquire Atlas Technical Consultants for $1.05 Billion
Leading infrastructure and environmental solutions provider Atlas Technical Consultants, Inc. has entered into a definitive agreement to be sold to private investment firm GI Partners in a $1.05 billion all-cash transaction, according to Bernhard Capital Partners, which formed Atlas in a 2017 deal and became its largest shareholder. Under the terms of the agreement, which includes outstanding debt, Atlas shareholders will receive $12.25 per share in cash...
DDoS Attacks Targeting Financial Firms Are on the Rise
The number of distributed denial-of-service attacks (DDoS) aimed at U.S. financial firms shot up 22% year-over-year as of November, according to a Financial Services Information Sharing and Analysis Center (FS-ISAC) report first provided to Bloomberg. In Europe, attacks increased 73%. Here’s how such activities work: Attackers amass a host of connected devices, called a botnet, and direct Internet traffic at a website to disrupt it or shut it down...
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Morgan Stanley’s Investing Trends for 2023
If you’re thinking future, think deglobalization, decarbonization, and technology diffusion, Morgan Stanley says. These trends are strengthened by changes in the macroeconomy, geopolitical events, and ongoing technological change, and investors may do well to consider them in their investments across asset classes...
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Goldman Sachs CEO Says Bank Is Performing Well, Despite Investor Doubts
Though investors may be skeptical following reports of disappointing profits, Goldman Sachs Chief Executive Officer David Solomon told Reuters the bank is faring well. "Good companies should invest and innovate and try new things. And by the way, when you do, you're not going to always get it right," Solomon said at the World Economic Forum's (WEF) annual gathering in Davos, Switzerland in January...
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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...