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☆ The stock market is shrinking and Jamie Dimon is worried
▼ + stars: | 2024-04-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

Jamie Dimon, one of the world’s most influential business leaders, is worried. The PE boom: The shrinking public market has private equity to blame — funds that pool money from investors to acquire or invest in companies. When a PE fund buys a public company, it takes that company private. The number of private companies in the US backed by PE firms has grown from 1,900 to 11,200 over the last two decades, according to JPMorgan data. Dimon’s company, of course, makes a huge amount of money from taking companies public, so he’s not exactly an impartial observer.

Persons: Jamie Dimon, ”, Matthew Kennedy, Dimon, “, it’s, Russell, Lewis, Glass Lewis, Wells, aren’t, Matt Egan, Donald Trump’s, That’s, Reddit, —, Read, Biden, Joe Biden’s, Sam Fossum, Anna Cooban, ” Biden Organizations: CNN Business, Bell, New York CNN, JPMorgan Chase, JPMorgan, Renaissance, PE, ” Companies, Companies, Harvard Law, Corporate, Institutional, Services, Deutsche Börse, Peloton Capital, CNN, ISS, Social, Trump Media & Technology Group, Trump, Trump Media, Twitter, White, Taiwan Semiconductor Manufacturing Company Locations: New York, United States, America, German, Arizona, ”

☆ Bitcoin ETFs could open floodgates to $30 trillion wealth management market
▼ + stars: | 2024-01-13 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +5 min

SEC Chair Gary Gensler continues to issue stern warnings when it comes to crypto investments, but that's not holding back activity. For the $30 trillion advised wealth management industry, the floodgates could be about to open. "For the vast majority of people, a low-cost bitcoin ETF is going to be the easiest way to do that," Hougan said. According to data from Robinhood , 81% of bitcoin ETF trading volume in the first week was in individual accounts, with the rest in retirement accounts. In a report on its website in October, Galaxy Digital said the "strongest marginal improvement" occurred when portfolios moved from a 0% to 1% bitcoin allocation.

Persons: Gary Gensler, that's, Jan van Eck, Anthony Pompliano, Pompliano, Matt Hougan, wirehouses, they've, Hougan, WisdomTree, bitcoin, Matt Walsh, Walsh Organizations: Securities and Exchange Commission, SEC, Investments, Chartered, Fund, Management, VettaFi, CFA, Investor Trust, Galaxy Digital, Fidelity, Island Ventures, Fidelity Investments Locations: U.S, Robinhood

☆ SafeMoon executives charged in US with fraud related to crypto token
▼ + stars: | 2023-11-01 | by ( Jonathan Stempel | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +2 min

The U.S. Securities and Exchange Commission filed related civil charges against the defendants, and over the Provo, Utah-based company's alleged unregistered sale of the SafeMoon token. Lawyers for SafeMoon and the individual defendants did not immediately respond to requests for comment. According to court papers, SafeMoon also promised investors that the token's features would "drive the price to stratospheric all-time highs" and "Safely to the Moon." SafeMoon was valued at about $50 million on Wednesday afternoon, losing more than half its value after the charges were announced, according to CoinMarketCap. Reporting by Jonathan Stempel in New York; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Al Drago, Kyle Nagy, Braden John Karony, Thomas Smith, SafeMoon, Ivan Arvelo, Smith, BRO, Karony, Nagy, Gary Gensler, Jonathan Stempel, Jonathan Oatis Organizations: U.S . Department of Justice, REUTERS, U.S . Securities, Exchange Commission, SafeMoon, McLaren, Porsche, Homeland Security Investigations, SEC, Thomson Locations: American, Washington , U.S, Brooklyn, Provo , Utah, New York, Provo, Bethlehem , New Hampshire

☆ HS2: UK PM Rishi Sunak slashes giant rail project as business warns of blow to credibility
▼ + stars: | 2023-10-04 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —UK Prime Minister Rishi Sunak has taken the axe to Britain’s biggest current infrastructure project, despite warnings from business leaders that the U-turn will damage investor confidence in the country. “This means £36 billion of investment in the projects that will make a real difference across our nation,” he added. “Any deviation could result in a loss of investor trust, and this would have a considerable negative impact on the UK. The ambitious HS2 project falls into this category.”The U-turn was also blasted by Richard Walker, the boss of supermarket chain Iceland, and until recently a long-time Conservative Party member. The government’s “evident inability” to deliver on major projects “is devastating to both its credibility and to business confidence,” Walker wrote in The Guardian newspaper Sunday.

Persons: Rishi Sunak, Sunak, ” Sunak, Andy Street, We’ve, Tom Wagner, Wagner, ”, Richard Walker, ” Walker Organizations: London CNN —, Manchester —, Conservative Party Conference, Conservative Party, Conservative, Investors, LBC, Knighthead Capital Management, Birmingham City football, The Guardian, “ Locations: London, Birmingham, Manchester, United Kingdom, England, Iceland

☆ Weak companies are going public: Slow Ventures' Sam Lessin
▼ + stars: | 2023-10-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWeak companies are going public: Slow Ventures' Sam LessinSam Lessin, Slow Ventures co-founder, joins 'The Exchange' to discuss late-stage capital funds competing with the public market, lack of investor trust in the IPO market, and a splintering in the markets trending towards venture capital.

Persons: Sam Lessin Sam Lessin Organizations: Ventures, Slow Ventures

REUTERS/Andrew Kelly/File PhotoNEW YORK, Aug 9 (Reuters) - The U.S. Securities and Exchange Commission plans to appeal a recent court decision involving Ripple Labs that was a setback for the agency's efforts to oversee cryptocurrency markets. The SEC said an appeal could address legal issues on which there was "substantial ground for differences of opinion." Torres' decision was not a total victory for Ripple, as she found that it violated securities laws by selling XRP to institutional investors. The judge must decide whether to let the SEC appeal her decision, and put the case on hold. Ripple, and lawyers for Ripple, Garlinghouse and Larsen did not immediately respond to requests for comment.

Persons: Andrew Kelly, Analisa Torres, Ripple, Brad Garlinghouse, Chris Larsen, Torres, Jed Rakoff, Larsen, Gary Gensler, Coinbase, Jonathan Stempel, Chris Prentice, Jody Godoy, Chris Reese, Lisa Shumaker, Diane Craft Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Ripple Labs, SEC, U.S, District, Terra, Terraform Labs, Thomson Locations: Washington ,, Manhattan, U.S, Gensler, New York

☆ Before suing Coinbase, SEC asked it to trade only in bitcoin -FT
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

July 31 (Reuters) - The U.S. Securities and Exchange Commission (SEC) had asked Coinbase (COIN.O) to stop trading in all cryptocurrencies except bitcoin before suing the cryptocurrency platform in June, the Financial Times reported on Monday, citing CEO Brian Armstrong. The SEC told FT that its enforcement division did not make formal requests for "companies to delist crypto assets". The regulator sued Binance in June, with both civil cases part of SEC Chair Gary Gensler's push to assert jurisdiction over the crypto industry. Gensler has labeled the crypto industry a "Wild West" that has undermined investor trust in the U.S. capital markets. The SEC and Coinbase did not immediately respond to a Reuters request for comment on the report.

Persons: Coinbase, Brian Armstrong, Armstrong, let's, Gary Gensler's, Gensler, Juby Babu, Sonia Cheema, Savio D'Souza Organizations: U.S . Securities, Exchange Commission, SEC, Financial Times, Binance, Thomson Locations: Solana, Cardano, U.S, Bengaluru

☆ US bank stocks fall as investors turn jittery ahead of Q2 results
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

July 6 (Reuters) - U.S. bank stocks fell and a key regional index hit a near two-week low on Thursday amid lingering worries about the health of the lenders in the aftermath of the crisis in regional banks and ahead of second-quarter results that start next week. The KBW Regional Banking Index (.KRX) fell 3% to its lowest since June 23, adding to its year-to-date loss of 25.9%. The S&P 500 Banks Index (.SPXBK) slipped nearly 2.8%. Regional lender PacWest Bancorp (PACW.O) dropped 8.1% after KBW analysts cut the price target on the stock to $9 from $14. Last week, shares rose after the Federal Reserve's annual health checks showed lenders could weather an economic slump.

Persons: Raymond James, Goldman, Morgan Stanley, Banks, Manya Saini, Arun Koyyur Organizations: Banks, U.S, PacWest Bancorp, Comerica, U.S . Bancorp, Bank, Federal, JPMorgan Chase, Goldman Sachs, Citigroup, Bank of America, Thomson Locations: U.S . Federal, U.S, Wells Fargo, Bengaluru

"The SEC can pursue its claims only if the tokens and staking services it has identified are 'securities,'" Coinbase said. The SEC sued Coinbase on June 6, saying it made billions of dollars acting as a middleman including by trading at least 13 crypto assets, or tokens, such as Solana, Cardano and Polygon that should have been registered as securities. The lawsuit was filed one day after the SEC sued Binance, the world's largest cryptocurrency exchange, accusing it of inflating trading volumes, mishandling customer funds and lying about its operations. In a separate 177-page filing denying the SEC's substantive claims, Coinbase said it "welcomes regulation," but that the regulator was arbitrarily and without Congress' permission trying to fill the "regulatory gap" over crypto assets. The case is SEC v Coinbase Inc et al, U.S. District Court, Southern District of New York, No.

Persons: Coinbase, Binance, Gary Gensler, Jonathan Stempel, Richard Chang Organizations: YORK, U.S . Securities, Exchange Commission, SEC, Agency, Nasdaq, Coinbase, Court, Southern District of, Thomson Locations: U.S, Manhattan, Solana, Cardano, Southern District, Southern District of New York, New York

☆ America has lost half its public companies since the 1990s. Here’s why
▼ + stars: | 2023-06-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Why it matters: The count of publicly listed companies traded on US exchanges has fallen substantially from its peak in 1996. It’s not that America has half as many companies as 30 years ago – it’s that companies are increasingly staying private, largely outside the scrutiny of the public eye. Publicly listed companies are subject to regulatory oversight and disclosure requirements, which help ensure transparency and maintain investor confidence. “I think it’s natural that companies would delay going public when valuations get halved and investors are not enthusiastic about investing in new companies,” said Kennedy. Some private equity funds have even taken advantage of the bear market to buy up publicly traded companies.

Persons: Matthew Kennedy, “, ”, Kennedy, Torsten Slok, Janet Yellen, Matt Egan, Yellen, Antony Blinken, Elon Musk, Laxman Narasimhan, Jamie Dimon Organizations: CNN Business, Bell, New York CNN, Center for Research, Renaissance, Apple, Microsoft, Party, Apollo Global Management, “ Companies, Wells, China, CNN, China Business Council, FedEx, Pepsi, Walmart, Ford, JPMorgan Chase, America ., Marshall Locations: New York, America, Wells Fargo, United States, China, Washington, Beijing

☆ Top Wall Street firm writes a brutal open letter to Amazon CEO Andy Jassy: 'It's time to get back to Day One'
▼ + stars: | 2023-06-07 | by ( Eugene Kim | ) www.businessinsider.com time to read: +7 min

Bernstein, one of the top Wall Street research firms, wrote an open letter to Amazon's leadership. Jassy wrote in the letter that the company is optimistic about grocery, satellite internet, international businesses, and healthcare services. Bernstein wrote. Bernstein wrote. Investor communications win investor trust: Amazon's leadership should cut down on the rhetoric and share more specifics with investors.

Persons: Bernstein, you'd, Andy Jassy, Mark Shmulik, Amazon's, Jassy, There's, Eugene Kim Organizations: Amazon, Healthcare, Whole, Amazon Media, Alexa, Investor Locations: Amazon, Brazil, Mexico, Singapore, India

[1/2] The Credit Suisse logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 16, 2023. Credit Suisse AT1 bondholders get nothing under the UBS merger deal. A WisdomTree exchange traded fund that tracks a broad index of bank AT1s, has dropped 11% in the past fortnight. Credit Suisse AT1s made up less than 3% of the fund just before the Swiss bank's rescue, the asset manager disclosed. Deutsche Bank AT1 debt is trading at 74 cents on the dollar, off last week's lows around 67 cents but still below levels seen before the Credit Suisse writedown, Tradeweb data shows.

As part of the overhaul announced in October, it is seeking to spin off merger advice and leveraged finance into a new entity named Credit Suisse First Boston (CSFB), for which it has been seeking buyers. Credit Suisse is most valuable in separate parts, and there are high-level M&A talks taking place, said a senior banker who advises banks on deals. TAKEOVERSelling off parts of Credit Suisse could require time, which markets may not give. The two have complementary investment banking businesses -Credit Suisse is stronger in credit and UBS in equities. However, some have faith that Credit Suisse can still make it safely to the end of the tight rope.

☆ Salesforce shares climb as growth forecast, buyback plan appease investors
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +2 min

March 2 (Reuters) - Shares of Salesforce Inc (CRM.N) jumped 15% in premarket trade on Thursday after the cloud-based software provider's revenue forecast eased concerns about slowing growth and its move to double its share repurchase to $20 billion appeased investors. Still, Salesforce's first-quarter revenue forecast implied growth of 10%, higher than analysts' estimates of 9%. Other activist investors with a stake in Salesforce include Starboard Value, Inclusive Capital Partners and ValueAct Capital. They have pushed for higher growth and margins, more share buybacks and raised concerns about recent acquisitions. Shares of Salesforce have advanced 26% this year through Wednesday's close, compared with a near 3% gain in the benchmark S&P 500 index (.SPX).

☆ Bayer's new CEO has a full in-tray as investors push for change
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +5 min

February 9 - By Ludwig Burger and Patricia WeissFRANKFURT (Reuters) - Bayer's incoming CEO is inheriting a full in-tray from his predecessor: Thousands of lawsuits claiming its weedkiller causes cancer, an underwhelming drug development pipeline and disgruntled investors looking for major change. "The most important task for Bill Anderson is to regain investors' trust," said Markus Manns, a portfolio manager at Germany's Union Investment, a top 20 shareholder. Bayer's shares lag those of its global rivals, having fallen about 40% - knocking about 30 billion euros off its market valuation - since it bought Monsanto in 2018 for about $63 billion. Baumann's early exit has stirred debate about what the 56-year-old Anderson can do to restore investor trust and boost Bayer's shares. A stand-alone pharmaceuticals business, with 18.3 billion euros in 2021 sales, could also become a takeover target.

☆ Morning Bid: Lights, camera, action
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +3 min

Investors are pricing in a quarter-of-a-percentage-point increase in the Fed's benchmark interest rate, which would mark the smallest hike since U.S. central bankers kicked off their tightening cycle 10 months ago with one the same size. But the forecasts still risk lagging behind policymakers' guidance on how high rates will go. The Bank of England is also expected to raise its interest rates by half a percentage point to 4% on Thursday. For today, European markets will focus on euro zone January flash PMI data, while results are due from Vodafone (VOD.L), GSK (GSK.L) and Novartis (NOVN.S). Germany and Italy figured among the biggest euro zone countries that recorded negative growth rates for the quarter but France and Spain expanded.

☆ 'It appears massive fraud was committed': Here are the 7 best quotes from Coinbase CEO Brian Armstrong's interview on crypto, FTX, and the future of digital assets.
▼ + stars: | 2022-12-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The implosion of FTX shook the crypto industry to its core in recent weeks as token prices continue to fall. CEO Brian Armstrong gave an interview to the Stratechery newsletter, and these are the best quotes. CEO Brian Armstrong spoke with the Stratechery newsletter on Thursday, addressing the future of crypto as well as the implosion of FTX and its impact going forward. On the prevalent fraud in crypto"I do think we have to admit as an industry that crypto has attracted more fraudsters than we'd like. On the future of crypto"There are enough great people working in crypto that I think this industry is going to do really well.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCryptocurrencies tank as FTX fallout continues to roil markets: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Alex McDougall, the president & CEO of Stablecorp Inc., discusses the impact of the proposed agreement between Binance and FTX on crypto markets, what would happen in the event the deal does not go through and what can help restore investor trust.

☆ Rivian announces major recall for nearly all vehicles
▼ + stars: | 2022-10-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRivian announces major recall for nearly all vehiclesCNBC's Phil Lebeau, joins 'Squawk on the Street' to discuss Rivian's large-scale recall affecting nearly all of the manufacturer's deliveries, the impact recalls have on investor trust, and price target cuts for Tesla.

☆ How a nonprofit business school helps companies overcome challenges to building a robust governance strategy
▼ + stars: | 2022-07-08 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +8 min

That's where the INSEAD Corporate Governance Centre steps in. "We address the latest trends, topics, and challenges in corporate governance not only from the academic perspective but also practitioner, a practice-based perspective from real-life experience," she added. Here's an overview of how an effective corporate governance strategy benefits companies, the challenges organizations face in building a strategy alone, and how ICGC steps in to help. There's growing pressure and scrutiny on boards and companies' corporate governance strategies from internal and external stakeholders, Tatar added. ICGC partners with the European Confederation of Directors Associations, the Ukrainian Corporate Governance Academy, the Hellenic Corporate Governance Council, and the Corporate Governance Hub.

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