By Anirban Sen, Jaiveer Shekhawat and Lananh Nguyen (Reuters) – Goldman Sachs Group Inc has named Kim Posnett as the head of its global technology, media and telecommunications (TMT) investment banking group, according to an internal company memo. Posnett, who joined Goldman in 2005 and became a partner in 2016, has held several top roles…
NEW YORK (Reuters) – The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point and signaled it may pause further increases, giving officials time to assess bank failures, how the Washington standoff over the U.S. debt ceiling plays out, the course of inflation. The U.S. central bank lifted it’s benchmark…
By Pablo Mayo Cerqueiro and Andres Gonzalez LONDON (Reuters) – Private equity house EQT is weighing options including a possible initial public offering (IPO) for LimaCorporate, the Italian medical devices group it acquired in 2016, people familiar with the matter told Reuters on Wednesday. The buyout firm has been discreetly sounding out investment banks for…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices fell 4% on Wednesday, extending steep losses from the previous session after the U.S. Federal Reserve raised interest rates and as investors fretted about the economy. Brent futures settled $2.99 lower, or 4%, to $72.33 a barrel, the global benchmark’s lowest close since December 2021. Brent hit…
By John McCrank NEW YORK (Reuters) – The U.S. Securities and Exchange Commission on Wednesday adopted new disclosure rules for hedge fund and private equity fund advisors aimed at increasing transparency, competition, and efficiency in the $25-trillion marketplace. The rule-making updates Form PF, which was put in place following the financial crisis of 2008-2009 to…
COPENHAGEN (Reuters) – Danish brewer Carlsberg has reached a settlement with German authorities and agreed to pay a 50 million-euro ($55 million) fine over the alleged formation of a cartel more than a decade ago. It said it refuted the allegations but had settled in order to focus on its core business of brewing beer….
ZURICH (Reuters) -UBS Chief Executive Sergio Ermotti said on Wednesday that the Swiss bank was working on closing its merger with Credit Suisse by the end of May or early June. Speaking at the Finanz ’23 conference in Zurich, Ermotti also repeated his bank’s line that all options were still on the table concerning Credit…
By Noele Illien ZURICH (Reuters) -UBS was considering the potential impact of buying struggling rival Credit Suisse as early as December, months before the takeover was hastily arranged by Swiss authorities in March, according to a regulatory filing. The filing with the U.S. Securities and Exchange Commission (SEC) also showed UBS concluded in February that…
(Reuters) – Britain’s competition watchdog said on Wednesday it was looking into Adobe Inc’s $20 billion buyout deal for cloud-based designer platform Figma to find if it could lead to “substantial lessening of competition” in the country. The move underlines regulators’ worries that large tech firms acquiring smaller innovative rivals could throttle competition. UK Competition…
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. services sector maintained a steady pace of growth in April as new orders increased amid a surge in exports, but businesses continued to face higher prices for inputs, indicating that inflation could remain elevated. Despite darkening clouds gathering over the economy as the lagged effects of higher…
