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IFF, the S&P 500 flavor, fragrance, and cosmetics ingredients corporation, said it will enter into an agreement to sell its Savory Solutions Group to private equity firm PAI Partners for $900 million. The deal’s proceeds will be used mainly to reduce outstanding debt...

Cryptocurrency exchange Binance.US announced in mid-December that it would purchase the assets of bankrupt Voyager Digital for $1.022 billion. The deal will go before the courts in January, according to Forbes. Voyager had billions of dollars’ worth of crypto at the end of 2021, but a broader market downturn and a series of bad bets, including on Three Arrows Capital and Alameda Research (FTX’s sister cryptocurrency trading firm), ate away at the firm’s available capital...

Investors beware. There are potential risks ahead on the global market, according to Bloomberg. First, inflation may linger. Wage growth and supply-side pressures including high energy costs may keep consumer prices elevated, canceling out the pivot to cuts from the Federal Reserve and European Central Bank that markets expect to see in the middle of 2023...

With China’s move to abruptly loosen COVID-19 restrictions despite a surge in cases, analysts are watching for the impact on the global economy. The country does not have a consistent vaccination effort nor transparent reporting of the scope of infections, leaving the details of any potential fall-out largely a mystery...

Four major banks have made financial commitments totaling $5.5 trillion to invest in renewable energy and decarbonization over 10 years following the UN’s COP27 summit, at which negotiators estimated that $6 trillion per year would be necessary for reaching net zero emissions by 2050. JPMorgan Chase has pledged $2.5 trillion, and Citigroup, Barclays, and HSBC have each committed to $1 trillion...

Defense firm L3Harris Technologies Inc. recently announced it will buy missile engine-maker Aerojet Rocketdyne Holdings Inc. for $4.7 billion. Aerojet was the biggest maker of propulsion systems in the U.S. defense industry left as an independent company after Northrop Grumman Corp. acquired Orbital ATK Inc. in 2018 for $9.2 billion...

Private equity firm Advent International will acquire Maxar Technologies, a space company the wider world first learned about from its high-resolution satellite images of the Russian invasion of Ukraine, in a $6.4 billion deal. Boston-based Advent, which has $89 billion in assets under management, will acquire all outstanding shares of Maxar common stock for $53 per share in cash...

The U.S. Trade Representative has once again come down hard on China’s economic policies and practices, and their global effects. The nation’s “20-year distortions” and its “state-centered and non-market trade practices” require that the U.S. develop strategic responses beyond defensive tariffs, Katherine Tai told a forum in late December...

Following the UN’s recent climate summit, COP27, hope that the world’s financial sector would commit to taking planet-saving environmental measures may have fallen. Efforts to impact climate change, deforestation, and biodiversity will be hard to put in place due to systemic inertia, political conflict, and a bias toward incumbent providers, according to a Reuters analysis...

After years of scandals and penalties, an upswing in securities trading and dealmaking has helped Deutsche Bank become profitable again, despite its plan to steer away from its volatile investment business. Higher interest rates are boosting profits from regular banking as M&A deals have fallen, according to Reuters...