(steheap – stock.adobe.com) Los Angeles-based Charger Investment Partners has completed the acquisition of Versa-Drill, a market-leading designer and assembler of premium drilling rigs used in water well, geothermal and cathodic protection applications. Terms of the transaction were not disclosed. Headquartered in Indianapolis, Indiana, Versa-Drill is recognized as the leading manufacturer of mid-sized drilling rigs in
It began last year, when Milanese banking giant UniCredit angered Prime Minister Giorgia Meloni’s government by attempting to take over crosstown rival BPM, which Meloni had hoped to merge with the partially bailed-out Tuscan lender Monte dei Paschi di Siena. In response, Rome deployed screening tools known as the ‘golden power’ — whose purpose is
“Mr. Quarles spent his tenure as a top financial regulator in the United States weakening safeguards for megabanks at the expense of financial stability and the American public,” said Warren, a former U.S. presidential hopeful who is the most senior Democrat on the Senate banking committee. “It would be deeply troubling if this FSB review
In the pre-2008 lending boom, American banks sold their dodgiest “subprime” loans to investors around the world. When the U.S. housing bubble burst and borrowers defaulted en masse, a global financial crisis ensued. Brussels now wants to loosen the rules governing the practice, meaning banks would need to put aside less capital against the loans
Despite transatlantic tensions, several U.S. groups are expected to announce major investment projects, including logistics group Prologis, which will invest around €6.4 billion in new logistics facilities and data centers, and Amazon (€300 million). British digital bank Revolut will also invest €1 billion and ask French authorities for a banking license, while Spanish telecom infrastructure
Even when large-cap stocks lose, they still find a way to win. It’s been a rocky year for the S&P 500, but the mega-cap-heavy index has still easily beaten its peers with a relatively modest 5.2% loss. For comparison, the mid-cap-dense S&P 400 and small-cap-oriented S&P 600 have sold off by 6.9% and 10%, respectively,