North America
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Baidu-backed video streaming platform iQiyi has filed documents with the US market regulator for a listing of American Depository Shares (ADS), according to the Chinese parent company’s quarterly earnings report released on Tuesday. -
JP Morgan has become the first non-Chinese financial institution to get an official renminbi clearing bank licence, joining Bank of China's New York branch as the second such firm in the US, the People’s Bank of China said on February 13.
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Greetings card company American Greetings, which owns brands such as Papyrus and Carlton Cards, has obtained financing from a consortium of banks to finance Clayton, Dubilier & Rice’s acquisition of a 60% stake in the privately owned firm.
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After last week's equity and bond market sell-offs, investors are worried about the positive correlation between the two asset classes, leading to increased hedging with derivatives, according to an equity derivatives strategist.
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US chip maker Broadcom has received commitments from 12 lenders for a staggering $100bn funding package to finance its acquisition of technology company Qualcomm.
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Petrol station forecourt company EG Group’s credit worthiness has come under pressure after the UK firm announced $2.15bn of debt-financed acquisition plans last week.
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While market capitalisation weighted indices and portfolios have been incredibly popular in recent years, data show that their equally weighted brethren can have an edge with lower concentration risk and better performance.
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The SSA market showed its “resilience” to the horror show in US equities early in the week as a series of borrowers printed strong dollar trades — one with its largest ever book, another with its largest size in years and not one paying up for the privilege. Some bankers suggested they may have benefited from a flight to safety but the general sense was that if the volatility comes back, public sector borrowers need not worry.
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The US high grade bond market remained open for business through the market sell-off this week, underlining its resilience.
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The viability of short volatility strategies in derivatives markets was dealt a severe blow this week, after a historic spike in equity volatility torpedoed popular exchange traded notes. Costas Mourselas reports.
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Deutsche Bank plans to put up to 40 bankers at director level and above in its EMEA investment banking division at risk of redundancy, including the bank's co-head of FIG DCM, GlobalCapital understands. Several of those put at risk were based in Birmingham, including the bank’s head of Europe-US private placements.
