NRG Energy to Purchase Vivint Smart Home in $5.2 Billion Deal
NRG Energy, Inc., a Houston-based power company, said it will acquire Vivint Smart Home, Inc. for $2.8 billion in cash. The boards of directors of both companies have unanimously approved the deal. Provo, Utah-based Vivint makes home security products that incorporate artificial intelligence and machine learning and help to operate other automation gadgets, such as Amazon Echo and Google Home...
Thoma Bravo to Buy Coupa Software for $8 Billion
Private equity firm Thoma Bravo will acquire Coupa Software for $8 billion, the global technology company announced in mid-December. A wholly-owned subsidiary of the Abu Dhabi Investment Authority will be a minority investor. The news follows reports earlier in the month that Coupa’s investors were urging the company to hold out for $95 a share...
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U.S. Leads the Way in Inward Foreign Direct Investment
The United States led 112 economies in foreign direct investment (FDI) for 2021, increasing its position by 11.3%, according to data recently released by the International Monetary Fund (IMF). The average gain for the reporting countries was 7.1% in their national currencies, or 2.3% in U.S. dollars...
BlackRock Predicts Future Recession
The world’s biggest asset manager says a recession is coming, adding yet another prediction to a growing bucket of forecasts. Strategists at BlackRock, Inc., a New York-based multi-national investment company, said that as central banks hike borrowing costs to tamp down inflation, market turbulence will ensue...
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Goldman Sachs to Cut Jobs and Curtail Marcus Consumer Loans
Goldman Sachs intends to slash as many as 400 jobs in its consumer business division and limit its retail banking platform, Marcus, to corporate loans only, Bloomberg and the Financial Times reported in early December. The cuts follow the bank’s announcement in October that it would be combining its expanded asset management and private wealth businesses into one group, the third time it has restructured since 2018...
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Corteva to Acquire Biologicals Company Stoller for $1.2B
Former DowDuPont division Corteva Inc., an Indianapolis-based agricultural chemical and seed company, has signed a definitive agreement to acquire one of the largest independent biologicals firms in the industry, Stoller Group, Inc., for $1.2 billion. The transaction is expected to be completed in the first half of 2023, pending regulatory approvals and customary closing requirements...
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Solar Company Tigo Energy to Go Public in SPAC Merger
California-based solar technology and energy storage firm Tigo Energy Inc. and Roth CH Acquisition IV Co. (ROCG) have announced a definitive agreement to combine businesses. Tigo will go public with the close of the transaction, which is expected in the second quarter of 2023. ROCG is a special purpose acquisition company (SPAC) with $117 million held in trust...
Financial Institutions Urge Governments to Adopt Formal Measures to Preserve Biodiversity
One hundred and fifty financial institutions called upon world leaders meeting at the UN Biodiversity Conference COP15 in mid-December to adopt a post-2020 Global Biodiversity Framework requiring economic entities to take action to stop and reverse nature loss. The formal statement, which was coordinated by Principles for Responsible Investment (PRI), the United Nations Environment Programme Finance Initiative...
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Goldman Sachs Plays Economic Soothsayer
Goldman Sachs has laid out predictions for the global economy over the next half-century, highlighting four key factors that will impact conditions, the investment bank’s economists wrote in a research paper presented in December. First, people are having fewer children, slowing population growth and putting pressure on economic output...
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Credit Suisse Tries to Make Up for Losses with Higher Rates
To make up for about $90 billion taken out of its coffers following rumors of insolvency, Credit Suisse Group AG has offered its wealthy clients higher-yield notes and bonus deposit rates, according to Yahoo! Finance sources who have asked to remain private. The wealth unit’s 1,800 relationship managers have begun to call clients...
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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...