STIFEL FINANCIAL CORP
US fund Platinum acquires Inventia Health in India foray
Platinum Equity makes its debut in India by acquiring a majority stake in Mumbai's Inventia Healthcare. With a valuation of Rs 2,500 crore, the deal sees PE investors exiting while the promoter retains a minority stake. Platinum Equity, managing over $48 billion in assets, is well-known for its expertise in the healthcare sector.
US fund Platinum in talks to buy Inventia Health
US buyout fund Platinum Equity Advisors is in talks to acquire Mumbai-based contract drugmaker Inventia Healthcare at a valuation of ₹2,500 crore ($300 million). Existing investors InvAscent Capital and Jacob Ballas are set to exit their investments while promoter Janak Shah and family will retain a minority stake. Post the transaction, the promoter family intends to continue leading the company. Rothschild & Co and Stifel Financial Corp are running the sale process of Inventia.
Microsoft tops Apple to become most valuable public company
For more than a decade, Apple was the stock market's undisputed king. It first overtook Exxon Mobil Corp. as the world's most valuable public company in 2011 and held the title almost without interruption.
US Fed Meet Preview: Will Jerome Powell signal rate cuts are coming?
The Federal Open Market Committee is poised to keep rates in a range of 5.25% to 5.5% at its two-day policy meeting ending Wednesday, a 22-year high first reached in July. The rate decision and an accompanying statement will be released at 2 p.m. in Washington. Chair Jerome Powell will hold a press conference 30 minutes later.
Apax, TPG among PE funds in talks to buy Inventia health
Global and domestic private equity funds, including Apax Partners, TPG Capital, TA Associates, and Kedaara Capital, are in talks to acquire Mumbai-based pharmaceutical company Inventia Healthcare for ₹2,600 crore ($300 million). The promoters and existing private equity investors are expected to exit their investments.
Fed set to pause rate hikes, but don’t count out another increase
Powell has signaled that Fed leaders would prefer to wait to evaluate the impact of past increases on the economy as they near the end of their rate-hiking campaign. With inflation still well above the committee’s 2% target and the US economy resilient, officials may pencil in one more hike in their quarterly projections.
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RP-Sanjiv Goenka, Bain Capital, Dorf Ketal in race to buy Aquapharm
Aquapharm is a specialty chemical manufacturer and offers a range of products from phosphonates to pharmaceutical intermediaries. It deals in several industries such as textile, leather, water treatment, pharmaceuticals, and paper. A significant portion of its business comes from exports to Europe and North America, and it has subsidiaries in Saudi Arabia, Hong Kong, Europe, and the US.
More pain in Sri Lanka before any resolution to crisis
The dire assessment by new Prime Minister Ranil Wickremesinghe this week of the island nation's economic plight was a necessary first step, economists said. His proposed solution to bring back some stability includes selling the loss-making national airline, printing more money and possibly raising taxes as well as energy and utility prices.
Newest meme stocks extend gains with no sign of craze fading
Trading in so-called meme stocks took off this week, with chatter building on WallStreetBets and other social media platforms on the potential for short squeezes as investors in the forums rallying against short sellers.
Dow drops 7.8% as free-fall in oil, virus fears slam markets
The staggering losses, including a 7.8% tumble in the Dow Jones Industrial Average, immediately raised fears that a recession might be on the way in the U.S. and that the record-breaking 11-year bull market on Wall Street may be coming to an abrupt end in a way no one even imagined just a few months ago.
Unilever remains cool to Kraft Heinz takeover bid despite rally
While both companies sell food, Unilever has pursued higher-end brands, such as Ben & Jerry’s ice cream and Talenti gelato. Kraft, meanwhile, sells Velveeta and Jell-O.
It’s all bullish in the end as US stocks post best week since 2014
The S&P 500 rose 3.8% in the last five days, while the Dow rallied 959.38 pts for its best week since 2011. Small caps in the Russell 2000 Index surged 10 %.
There's a massive poaching raid going on at Lehman's old wealth management shop
Now Barclays is selling the business to Stifel Financial Corp. This sale is leading to a recruitment frenzy on Wall Street, according to sources.
There's a massive poaching raid going on at Lehman's old wealth management shop
Barclays is selling the business to Stifel Financial Corp. This sale is leading to a recruitment frenzy on Wall Street, according to sources.
Black Friday: a big draw as holiday season kicks off
With consumers facing a sluggish economy and the threat of tax increases over the so- called fiscal cliff, this weekend will decide what lies in store.
Gold rout leaves traders least bullish in 4 months
Gold's biggest rout in three months means traders are the least bullish since July and economist warned of further declines.
Inflation fears force Buffett to scale down bond exposure
Warren Buffett shortened the duration of bonds held by his Berkshire Hathaway after warning that deficit spending could force inflation higher.
Profits embolden US companies, but revenue lacking
Corporate America is turning a profit again, but only by spending less, not making more. Ghosts of 1929 | Competitive economies | US mortgage crisis
Insurance giant AIG facing possible breakup
Nearly six months after American International Group Inc. got its first massive bailout from the government, it is still stumbling.
A value meal at Starbucks? Coming right up
The allure of the value meal has long seduced penny-pinchers craving a cheeseburger.
Intel Q4 profit plunges 90 pc
Intel Corp.'s fourth-quarter profit plunged 90 percent but still met Wall Street's subdued expectations Thursday, as the chip maker was hurt by wheezing PC sales that have crimped demand for microprocessors. Sales slumped 23 percent, in line with Intel's previous guidance.
US stores may post weakest October sales in 40 years
After slashing their spending in September as the financial meltdown intensified, shoppers went into full retreat in October, spooked by rising layoffs and shriveling retirement funds.
Microsoft bid backs Yahoo into a corner
Most analysts believe that Yahoo will wind up in Microsoft's clutches because the world's largest software maker appears to be a determined bidder with more financial firepower.Future tech leaders I Buying online?
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