One of the first sovereign-wealth funds, and the largest at the state level in the U.S., just made a big bet on groceries as inflation continues to pressure American consumers. Alaska Permanent Fund tripled its investments in shares of Walmart and Kroger —the respective No. 1 and No. 2 players in terms of their share
Fujifilm said Friday it would increase its investment in a planned biotech plant in North Carolina by $1.2 billion at a time when Japan-US trade ties are in the spotlight. The cash injection to ramp up output to meet growing demand for antibody drugs brings “the total investment in the facility to over $3.2 billion”, the
Germany’s finance minister on Thursday stood firm against new common EU borrowing amid calls for the bloc to club together as it did after the Covid pandemic to fund a defence overhaul. Faced with Russia’s war on Ukraine, there have been growing calls for the 27-nation EU to pool its economic might to help revamp
Societe Generale is set to sell its equipment financing unit to rival Groupe BPCE as the French lender looks to simplify its business under new chief executive Slawomir Krupa. The bank said that it has signed a memorandum of understanding to sell Societe Generale Equipment Finance to Groupe BPCE, with the sale price agreed at €1.1bn, it said
The initial public offering market is showing signs of life again. And the optimism following the strong debuts for Reddit and AI cloud infrastructure company Astera Labs appears to be spreading. Case in point: A closed-end fund that invests in Elon Musk’s SpaceX, Fortnite maker Epic Games, OpenAI, fintech giants Stripe and Chime and other
The US legal giant has recruited financial regulation partner Sebastian Barling from the Magic Circle law firm, according to people familiar with the situation. Barling spent nearly 13 years at Linklaters and was promoted to partner in 2018. He previously spent four years at Reed Smith. Linklaters has been hit by a string of partner exits
Greg Guyett oversees a broad range of businesses as the chief executive of HSBC’s global banking and markets unit, a role he took on in October 2022, just before rivals started making deep job cuts. But he’s looking to grow most of these businesses including investment banking, securities services and transaction banking, he told Financial News in a wide-ranging interview.
Kirkland & Ellis has hired a finance partner in London from Allen & Overy. Vanessa Xu is a sponsor-facing leveraged finance partner who has been with the Magic Circle law firm for more than 17 years, making partner in 2017. Xu is joining Kirkland in London, the US law firm said in a statement. “Vanessa
Disney shareholders will deliver a verdict later Wednesday in the company’s long-running struggle over leadership at one of the spring’s most costly and closely-watched annual meetings. At issue is an effort by billionaire investor Nelson Peltz of Trian Capital, who has blasted the Disney board over botched leadership planning after the entertainment giant reinstated long-running
Tottenham Hotspur are “in discussions with prospective investors” in a bid to “capitalise on our long-term potential”, chairman Daniel Levy said Wednesday as the club published its financial results. The Premier League club’s total revenue for the financial year to June 30, 2023 exceeded half a billion pounds for the first time, with the figure