Stay informed with free updates Simply sign up to the Pharmaceuticals sector myFT Digest — delivered directly to your inbox. GSK has sold its remaining stake in Haleon, the consumer healthcare company it spun off and listed in London in July 2022, raising £1.25bn and underscoring how pharmaceutical groups are streamlining their businesses to focus…
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Berkshire Hathaway has quietly built a $6.7bn position in New York-listed Chubb, one of the world’s biggest insurance companies, highlighting Warren Buffett’s continued interest in financial services, according to regulatory filings published on Wednesday. Buffett’s…
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Berkshire Hathaway’s cash pile swelled to a record $189bn in the first quarter of 2024 as Warren Buffett’s sprawling conglomerate continued to dump stocks, including Apple, one of its largest positions. The figure underscores the…
Angel Di Bilio/iStock Editorial via Getty Images For the most part, the airline industry never recovered after COVID lockdowns. Across the board, airlines faced immense losses during 2020, causing nearly all to face tremendous debt growth. For some, that issue has been exacerbated by the sharp rise in interest rates, compounding their overall interest expense….
InfinitumProdux Note: Please be aware that I have previously discussed Danaos (NYSE:DAC) on multiple occasions, so consider piece this as a follow-up to my earlier writings about the company. When Danaos’ leadership made the strategic decision to invest in Eagle Bulk (NYSE:EGLE) last summer, acquiring a substantial 16.7% stake in the company, I initially harbored…
The Tokyo-based Monex Group intends to further strengthen its digital asset offerings to institutional investors through the 3iQ acquisition. Monex Group Inc, a holding financial company based in Japan with operations around the world, will acquire Canada-based crypto asset manager 3iQ Digital Holdings Inc for an undisclosed amount. According to the announcement, 3iQ will collaborate…
Vladimir Zapletin Since I gave Ternium S.A. (NYSE:TX) a buy rating in May, the stock is down about 2% largely due to falling steel prices and missing its Q3 EPS target. However, steel prices are bottoming, the company is growing market share in both Mexico and Brazil, and EPS is projected to rise by almost…
Foresight Ventures sees the acquisition as an opportunity to establish a significant foothold in the US and contribute to The Block’s growth amidst challenges in the crypto media industry. Singapore-based Foresight Ventures has completed the acquisition of a majority stake in The Block, a prominent crypto news and data provider. The deal, which valued the…
Alphabet’s decision to completely divest from Robinhood raises questions about the tech giant’s confidence in the long-term viability of the once-burgeoning fintech darling. In a recent development, Alphabet Inc (NASDAQ: GOOGL), the parent company of Google, announced the dissolution of its stake in the trading app operator, Robinhood Markets Inc (NASDAQ: HOOD). This decision follows…
K-Bank aims to capture 20% of the crypto market in Thailand through the acquisition of Satang Pro. In a bold move signaling growing integration between traditional finance and the burgeoning cryptocurrency industry, Kasikornbank, one of the largest banks in Thailand, has purchased a majority stake in a local digital assets trading platform called Satang Pro….
In a strategic move that solidifies its presence in the cryptocurrency sector, Thailand’s Kasikorn Bank has announced the acquisition of a 97% stake in Satang Corporation Company Limited, the parent company of the Satang cryptocurrency exchange. The deal, valued at 3.705 billion Thai baht ($102.8 million), was conducted through a newly formed Kasikorn Bank subsidiary…
It was disclosed that FTX customers’ money was spent on business investments, political and charity donations, and real estate. Beleaguered cryptocurrency exchange FTX spent customer’s deposits for business investments, political contributions, charitable donations, real estate, and the buyback of shares from competitor exchange Binance. During a hearing on Wednesday at the ongoing Sam Bankman-Fried (SBF)…
Over the last week, GOTO stock lost about 20% in price, from 83 rupiahs per share on Monday to an all-time low of 67 rupiahs on Friday, with its market cap dropping to 80.5 trillion rupiahs from 101 trillion rupiahs. William Tanuwijaya, the founder of the leading Indonesian e-commerce company Tokopedia, has sold a staggering number…
This strategic investment, totaling around $65 million, translates to approximately 0.01 percentage point in each bank. The impact on the market was immediate and substantial, with shares of these major banks soaring between 2.43% and 4.73% in the early hours of Thursday. China’s sovereign wealth fund, Central Huijin Investment Ltd, has taken a significant step…
Mehta stepped down from his role as the company’s CEO last year and following Tuesday’s IPO, will cease to serve as Executive Chairman. Online grocery delivery startup Instacart’s founder Apoorva Mehta is now a billionaire after selling 700,000 shares of the company. Mehta, 37, co-founded Instacart in 2012 and went on to grow the business…
This is an extension to my previous article series discussing the different sidechain proposals that exist. Those articles can be found here: Spacechains, Spacechain Use Cases, Softchains, Drivechains, Federated Chains, and Trade Offs Of Sidechains. Botanix Labs has proposed a completely new sidechain design recently, called spiderchains, for the purposes of porting the Ethereum Virtual…
The investment bank first made a bet on C6 in June 2021 when it bought its initial stake. JPMorgan Chase & Co (NYSE: JPM) has added to its equity stake in Brazilian digital bank C6, bringing it from 40% to 46%. Per a Reuters report, the update was shared in a joint statement by both…
Galaxy Digital will help FTX return funds to its creditors while making sure that the value of FTX’s $3 billion of crypto holdings doesn’t subside. As per the court filing submitted on Wednesday, August 23, bankrupt crypto exchange FTX is looking to hire crypto firm Galaxy Digital to start staking or hedge its massive crypto…
In the midst of this strategic partnership, MTN has delivered impressive financial results for the first half of the year. MTN Group Ltd (JSE: MTN), Africa’s largest wireless carrier, has announced that Mastercard Inc (NYSE: MA) is planning to purchase a minority stake in its financial technology business. This investment deal values the fintech arm…
Arm is scheduled to go public in September, with the listing of its shares on the Nasdaq exchange. Arm’s market capitalization by that time is expected to be $60 billion to $70 billion, which would make the deal the world’s biggest initial public offering so far this year. Tokyo-based conglomerate SoftBank Group Corporation (TYO: 9984) is reportedly…
Alphabet sold 90% of its Robinhood stake after the trading app announced a profit for the first time as a public company. Robinhood Markets Inc (NASDAQ: HOOD) shares closed Thursday trading at $11.54, down 7.23 percent from the day’s opening price. The sudden drop in HOOD shares happened after Google-parent company Alphabet Inc (NASDAQ: GOOGL)…
Wolterk Listen below or on the go on Apple Podcasts and Spotify Walmart (WMT) pays $1.4B to increase its stake in India’s Flipkart – report. (00:26) Yellow Corp. (YELL) reportedly shuts down operations. (01:15) U.S. proposes to boost fuel economy standards for new vehicles to 58 mpg by 2032. (01:44) This is an abridged transcript…
Receive free Vale SA updates We’ll send you a myFT Daily Digest email rounding up the latest Vale SA news every morning. Saudi Arabia has launched its first significant foray into the global mining industry, with a deal to become a minority shareholder in Vale’s $26bn-valued copper and nickel unit. The Brazilian group said on…