Friday, December 27

Tag: Financial Investment Services

Investcorp Joins Corsair’s $4.8 Billion Infrastructure Business
11Dec By adminNo Comments
World

Investcorp Joins Corsair’s $4.8 Billion Infrastructure Business

Dec. 11, 2023 7:00 am ET|WSJ ProInvestcorp has acquired a half-interest in Corsair Capital’s nearly $5 billion infrastructure business, injecting the Bahrain-based firm into a global industry and giving Corsair a capital boost as sheer heft becomes increasingly important in attracting institutional investors to new funds.New York-based Corsair, which also makes buyout investments, managed $9.6 billion at the end of September, including $4.8 billion in infrastructure assets mostly in transportation and logistics. Among those holdings is management company Vantage Airport Group, which helped build the new Terminal B at New York’s LaGuardia Airport and is working on another at John F. Kennedy International Airport.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856...
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The Adrenaline-Fueled Trades Sweeping the Market
10Dec By adminNo Comments
Money

The Adrenaline-Fueled Trades Sweeping the Market

Oodles of risk. Bold bets on artificial intelligence. Round-the-clock activity. The options market is booming like never before. About 44 million options contracts have changed hands on an average day in 2023, on track for an annual record based on Options Clearing Corp. data going back to 1973 and more than double the figure from five years ago.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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The Adrenaline-Fueled Trades Sweeping the Market
10Dec By adminNo Comments
World

The Adrenaline-Fueled Trades Sweeping the Market

Oodles of risk. Bold bets on artificial intelligence. Round-the-clock activity. The options market is booming like never before. About 44 million options contracts have changed hands on an average day in 2023, on track for an annual record based on Options Clearing Corp. data going back to 1973 and more than double the figure from five years ago.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Texas Bank Overdraws Its Own Accounts After Messy Tech Update
6Dec By adminNo Comments
Money

Texas Bank Overdraws Its Own Accounts After Messy Tech Update

Regulators are probing Comerica after a botched technology upgrade left the bank’s wealth-management unit short millions of dollars.The Office of the Comptroller of the Currency has been looking into a wealth management platform change at the bank that led to widespread errors on transactions for trust clients, according to people familiar with the matter and internal emails reviewed by The Wall Street Journal. Executives at the Texas-based bank told staff the errors could force them to potentially write down any funds they weren’t able to chase down.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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FTC Investigates Exxon’s $60 Billion Deal for Pioneer
5Dec By adminNo Comments
World

FTC Investigates Exxon’s $60 Billion Deal for Pioneer

Updated Dec. 5, 2023 12:49 pm ETU.S. antitrust enforcers are investigating Exxon Mobil’s plan to acquire Pioneer Natural Resources, which would be the largest oil-and-gas deal in two decades, according to securities filings. The Federal Trade Commission has sought additional information from the companies about the deal, a step it takes when reviewing whether a merger could be anticompetitive under U.S. law, Pioneer disclosed in a filing Tuesday. Merger investigations on average take about 10 months to complete, according to data compiled by law firm Dechert.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Binance Copped a $4 Billion Plea but Is Still Fighting the SEC
4Dec By adminNo Comments
Money

Binance Copped a $4 Billion Plea but Is Still Fighting the SEC

WASHINGTON—When top Biden administration officials gathered last month at the Justice Department to announce a $4.3 billion legal resolution with Binance, one powerful regulator was absent.Attorney General Merrick Garland was there. So was Treasury Secretary Janet Yellen. But Securities and Exchange Commission Chair Gary Gensler wasn’t, even though he has his own legal beef with Binance. The SEC sued the world’s largest cryptocurrency exchange in June and has been the regulatory scourge of the crypto world.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Brookfield-Led Consortium’s $11 Billion Bid for Origin Energy Fails
4Dec By adminNo Comments
World

Brookfield-Led Consortium’s $11 Billion Bid for Origin Energy Fails

SYDNEY—An US$11 billion bid for Origin Energy, one of Australia’s largest power companies, was rejected by its shareholders on Monday in a stark illustration of how investors are adopting different strategies to bet on the energy transition.Origin said that shareholders owning about 69% of its stock voted for the takeover, meaning that the bid made by a consortium led by Brookfield Asset Management fell short of the 75% approval threshold needed to secure a deal.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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How Rising Profits Could Prevent the Economy From Faltering
3Dec By adminNo Comments
Money

How Rising Profits Could Prevent the Economy From Faltering

Profits have been making a comeback. That makes a comedown for the U.S. economy seem less likely.The Commerce Department on Wednesday reported that before-tax corporate profits rose 1.1% from a year earlier in the third quarter. This compares with a decline of 6% in the second quarter. Moreover, that profit figure includes the income of Federal Reserve banks, which have lately been losing money owing to the combination of their big holdings of Treasury and mortgage securities and the sharp increase in rates. Exclude the Fed, and corporate profits rose by 6.7% in the third quarter compared with a gain of 1.6% in the second.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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How Rising Profits Could Prevent the Economy From Faltering
3Dec By adminNo Comments
World

How Rising Profits Could Prevent the Economy From Faltering

Profits have been making a comeback. That makes a comedown for the U.S. economy seem less likely.The Commerce Department on Wednesday reported that before-tax corporate profits rose 1.1% from a year earlier in the third quarter. This compares with a decline of 6% in the second quarter. Moreover, that profit figure includes the income of Federal Reserve banks, which have lately been losing money owing to the combination of their big holdings of Treasury and mortgage securities and the sharp increase in rates. Exclude the Fed, and corporate profits rose by 6.7% in the third quarter compared with a gain of 1.6% in the second.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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