Americas

Chinese plastic surgery social network So-Young International hit the road for its Nasdaq listing this week, eyeing proceeds of up to $179.4m.

More evidence of the strength of demand from Swiss retail investors for attractive coupons was provided last week when Luzerner Kantonalbank (LuKB) priced an additional tier one (AT1) transaction shortly before the Easter break. Led by LuKB and ZKB (sole structurer), and priced at a coupon of 1.8%, this non-call 6.5 year deal raised Sfr250m.

A tough quarter scuppered Goldman Sachs's strategic update but the bank places deeds before words and is already well advanced in its new strategy, writes David Rothnie

Credit Suisse was first off the blocks among big European investment banks in releasing its first quarter results on Wednesday. While trading revenue was strong, underwriting and advisory revenues disappointed, compared with US peers.

Smart wearables manufacturer Huami Corp has launched book building for its $ 114m follow on American Depository Shares (ADS) offering.

The US business of Brazilian meatpacker JBS continued to improve its liquidity position with its second bond issue in April on Tuesday. It reopened three existing bonds as part of a liability management exercise.

Ray Dalio’s missive on reforming capitalism proposes making the US more egalitarian: this might be needed to avoid slowing the economy and even to avert a collapse in the economic system itself. But investors such as Dalio are not so keen on putting capital into the one region in the world where capitalism and equality have found an easier marriage.

As Uber prepares to ride a wave of hype to a valuation that could be $100bn at IPO, potential buyers should make sure they're not relying on market momentum alone to carry these loss-making juggernauts higher.

Royal Bank of Canada said on Tuesday that it was looking at the euro market for its first green senior unsecured bonds, at a time when issuers seem to be more in control of pricing than investors.

Chinese plastic surgery online social network So-Young International has commenced its Nasdaq IPO of up to $179.4m.

Chilean pulp and paper company Celulosa Arauco y Constitución is likely to perk up the Latin American bond markets this week as it weighs up the sale of new bonds to finance a tender offer.

JP Morgan has appointed Jennifer Piepszak as its chief financial officer, replacing Marianne Lake, who will now run consumer lending.