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Chia Network Submits Registration to SEC for Proposed IPO
Blockchain and smart-contract platform Chia Network Inc. has submitted a confidential draft registration to the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering. The size and price range for the offering has not yet been determined, according to a company press statement...
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Warren Buffett’s Advice for Investing During a Downturn
Whether we’ll need his advice is yet uncertain, but billionaire Warren Buffett has a strategy when it comes to investing during a recession. Here are three tips from Berkshire Hathaway Chief Executive Officer and one of the world’s wealthiest people, worth about $93.4 billion, according to GOBankingRates...
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Wrestling Icons WWE and UFC to Merge
World Wrestling Entertainment (WWE) and Endeavor Group-owned UFC announced in early April that they will merge and form a new publicly traded company controlled by Endeavor. The deal values WWE at $9.3 billion and UFC at $12.1 billion...
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Canadian Crescent Point Energy to Acquire Spartan Assets in $1 Billion+...
Calgary-based Crescent Point Energy has announced it will buy sustainability-focused Spartan Delta Corp’s oil and gas assets for $1.24 billion in cash. Spartan’s 600 locations in Alberta’s Montney region, which are adjacent to Crescent’s Kaybob Duvernay assets, will enhance production capacity by 38k barrels of oil equivalent per day...
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Wall Street Reacts to UBS Purchase of Credit Suisse
UBS has agreed to a $3.2 billion takeover of Swiss rival Credit Suisse (CS), saying it will move quickly to wind down its investment bank. “It's a historic day, and a day we hoped would not come,” UBS Chair Colm Kelleher said on a phone call that did not include CS executives or board members, according to Yahoo Finance...
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Uncertain Aftermath of SVB Failure Has Hints of the Past
Investors are looking backward for answers, following Silicon Valley Bank’s mid-March collapse, the largest such U.S. failure since 2008. Meantime, they are wondering what to expect next, according to CNN. Similarities to the 2008 global financial crisis exist, writes Nicole Goodkind, but the differences are more compelling...
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Ambrx Biopharma to Trade on Nasdaq
Ambrx Biopharma Inc., a clinical-stage biologics company, announced in early March that it will voluntarily transfer its stock exchange listing to the Nasdaq stock market from the New York Stock Exchange. The company’s American Depositary Shares are due to begin trading as a Nasdaq-listed security on March 17...
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OMERS Pension Plan Investments Make Strong Gains in Tough Market
OMERS, the defined benefit pension plan for municipal sector employees in Ontario, generated a 2022 investment return of 4.2%, net of expenses, despite one of the worst market environments since 2008. The addition of $4.9 billion of investment income to the Plan brought 2022 net assets to $124.2 billion, according to Yahoo Finance...
The Energy Transition Presents Opportunity for Investors, Bain Says
As the world shifts away from carbon-based fuels, private investors have increased opportunities to supply capital and help businesses speed up growth, according to Bain & Company. The investment landscape is rich, Bain said in its 2023 Global Private Equity Report, as regulators, consumers, and investors all expressed support in 2022 for the decarbonization of portfolios...
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Musk Holds Less Tesla Stock Than “Big Three” Passive Funds
The U.S.’s top three passive investing funds own more of Tesla than its creator, Elon Musk, according to the Financial Times. Vanguard, BlackRock, and State Street have a combined 13.58% stake in the electric vehicle manufacturer while Musk...
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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...