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☆ How a boutique bank that rode last year's healthcare M&A streak into the big leagues plans to continue to compete with the JPMorgan's of the world
▼ + stars: | 2024-03-13 | by ( Reed Alexander | ) www.businessinsider.com time to read: +9 min

It was more than double the value of the next-largest deal, a Japanese healthcare merger that clocked in at $22 billion. And, for its part, Seagen tapped advisors at two boutique firms: Centerview and MTS Health Partners. "We want to be the preeminent healthcare bank. Last year, during a healthcare M&A boom that's expected to continue this year, the bank onboarded 14 new staffers, including the partners, a company spokesperson said. Advertisement"We are absolutely in growth mode looking to have high-quality bankers who are capable of generating business off of this platform without all the accoutrements of a big bank," Weisenfeld continued.

Persons: Seagen, Andrew Weisenfeld, Goldman Sachs, Morgan Stanley, Dealogic, Weisenfeld, —, Curtis Lane, Bear, Daun Chung, Ryan Stewart, Reed Alexander Organizations: Service, Pfizer, Guggenheim, Centerview, MTS Health Partners, MTS, Goldman, JPMorgan, Bank of America, Partners, CTI, New, Bear Stearns, London Stock Exchange, Seagen, Medicines, Novartis, Chase Securities, Health Partners, Guggenheim Securities, Triple, SVB Securities, Solomon Partners, Citigroup Locations: Wall, New York City, Seattle

☆ A look at the true nature of the Chinese cyber threat inside the nation's biggest ports
▼ + stars: | 2024-03-13 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +13 min

But the Biden administration, lawmakers and ports management continue to differ in their views of the true nature of the threat. Kurt Fredrickson, a Coast Guard spokesman, told CNBC via email that even if the software is not Chinese, all software has vulnerabilities, regardless of origin. "Software is everywhere," Gene Seroka, executive director of the LA port, told CNBC in a recent interview at the TPM conference. They warn the crane software concerns are part of a much larger societal risk. He added that regardless of the origin of the crane software and the origin of a crane's manufacturing, there are ways to mitigate cyber risk.

Persons: Biden, Jay Vann, Robert Murray, it's, Kurt Fredrickson, Murray, Carlos Gimenez, Melanie Stambaugh, Greg Ehrie, Doug Vogt, Vogt, Mario Cordero, Noel Hacegaba, Cordero, Gene Seroka, Lucian Niemeyer, Trump, Niemeyer Organizations: CNBC, ABB, Germany's Siemens, Counterterrorism, Law, Intelligence, Homeland Security, U.S . Coast Guard Cyber Command, Biden Administration, People's, Capitol, National Association of Waterfront Employers, Coast Guard, Transportation, Maritime Security, of South Carolina, Northwest Seaport Alliance, USCG, American Association of Port Authorities, New Jersey Port Authority, Siemens, New, Port, Biden, North Carolina Ports, ZPMC, NC, United States Coast Guard, Samsung, U.S . Department of Homeland Security, DHS, U.S . Coast Guard, Security, Defense for Energy, National Security, Management, Maritime Transportation, Joint Force, MTS, Readiness Locations: China, Swiss, People's Republic of China, U.S, of South, China . Port of Long Beach, Tacoma, Seattle, York, New Jersey, New York, Port of New Orleans, of Long Beach, Port of Long, Port of Los Angeles, Port, Oakland, Georgia, Finland, Japan, Taiwan, Europe, Shanghai

☆ The Rainmakers: These 20 bankers rode a choppy deals market to top the M&A charts in 2023
▼ + stars: | 2024-02-21 | by ( Alex Morrell | Reed Alexander | ) www.businessinsider.com time to read: +4 min

In 2023, the overall value of M&A transactions dipped globally to $2.9 trillion across 53,529 deals, down from $3.4 trillion across 57,830 transactions in 2022. Business Insider partnered with MergerLinks , a financial-data service that tracks deals, to present the fifth edition of "The Rainmakers," the 20 M&A bankers who orchestrated the largest deals in North America. MergerLinks tracks publicly announced deals and calculates deal values on a net basis, including both equity and debt pieces. This year’s list has a mix of returnees and first-timers and was dominated by energy bankers, including Goldman’s Sikhtian and Morgan Stanley’s Hoover. Nearly half of the bankers on this year's list worked on energy deals.

Persons: —, Scott Sheffield, Goldman Sachs, Suhail Sikhtian, Morgan Stanley, Greg Weinberger, Aaron Hoover —, Patrick Ramsey, Claudio Sauer, Hess, Goldman’s Sikhtian, Morgan Stanley’s Hoover Organizations: Service, Pioneer Natural Resources, ExxonMobil, Sheffield, Pioneer, Exxon, Business, Centerview Partners, LSEG, MergerLinks, Chevron, Centerview, Health Partners, Pfizer, & $ Locations: Sheffield, Texas, North America

☆ Risky biotech M&A therapy will heal more fractures
▼ + stars: | 2023-10-19 | by ( Jonathan Guilford | ) www.reuters.com time to read: +8 min

NEW YORK, Oct 19 (Reuters Breakingviews) - How can a suitor offering $1 billion see eye-to-eye with a seller asking for $2 billion? Such contingent value rights, or CVRs, are a way to get around the inherent uncertainty of an unproven drug. Its $74 billion takeover of Celgene in 2019 included a $6.4 billion payout dependent on a trio of drug approvals. There have been only 27 biotech market debuts this year, raising $2.2 billion, according to LSEG data. Given the nagging fissures in valuation perspectives, however, more dealmakers are apt to try this risky M&A therapy.

Persons: Schulman, Sidley, Bristol Myers, Myers, CVRs, Andrew Weisenfeld, IPOs, ”, Dan Lepanto, biopharma, Eli Lilly’s, Bristol Myers Squibb, Jeffrey Goldfarb, Sharon Lam, Streisand Neto Organizations: Reuters, Dow, Marion Laboratories, LyondellBasell Industries, Mirati Therapeutics, JPMorgan, Sanofi, Health Partners, Nasdaq Biotechnology, Reuters Graphics Reuters, Reuters Graphics, Leerink Partners, Therapeutics, Public, Bristol Myers, U.S . Food, Drug Administration, Thomson Locations: Celgene, Genzyme, U.S

☆ Western officials arrive in the UAE amid push to deprive Russia of advanced microchips
▼ + stars: | 2023-09-06 | by ( Mostafa Salem | ) edition.cnn.com time to read: +5 min

The UAE has invested large sums in developing an artificial intelligence program and has a ministry dedicated to the technology. UAE ‘abides by UN sanctions’Russia is under a barrage of sanctions from the US and other Western nations following its full-scale invasion of Ukraine last year. Western officials have visited the UAE several times over the past two years to warn the regional business hub that helping Moscow evade sanctions wouldn’t be without consequences. The UAE central bank in March cancelled a license granted to Russia’s MTS Bank after it came under US and British sanctions. We look at BRICS from a geo-economic not a geo-political perspective, with the aim of strengthening our economic competitiveness,” a senior UAE official told CNN.

Persons: ”, AMD, “, Abu Organizations: Abu Dhabi CNN — Senior, United, European Union, CNN, Street, UAE, Nvidia, Reuters, AMD, US Department of Commerce, Financial Times, UAE’s Technology Innovation Institute, UN, US, “, MTS Bank, Moscow, BRICS, UAE hasn’t, New Development Bank Locations: Abu Dhabi, United Arab Emirates, Russia, Ukraine, United States, United Kingdom, Gulf, “, UAE, East, Saudi Arabia, Moscow, Iran, Washington, multipolarity, China, South Africa, BRICS

☆ Russia moves to ban iPhones for government officials after claiming they were hacked by the US
▼ + stars: | 2023-07-16 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +2 min

Russian government ministries are beginning to ban officials from using Apple iPhones. Russia's trade ministry will impose a ban starting Monday, the Financial Times reported. Beginning July 17, employees at Russia's trade ministry will no longer be allowed to use iPhones on the job, the Financial Times reported. In March, the Kremlin told officials to stop using Apple products, citing fears they were vulnerable to US hacking. Following the Russian claims, Apple announced patches to its iOS software, crediting researchers at the Moscow-based Kaspersky Lab with identifying vulnerabilities.

Persons: Apple Organizations: Apple, Financial Times, Service, Kremlin, iOS, Washington Post, Federal Security Service Locations: Russia, Wall, Silicon, Moscow, Ukraine

[1/2] The Titan submersible, operated by OceanGate Expeditions to explore the wreckage of the sunken SS Titanic off the coast of Newfoundland, dives in an undated photograph. Moreover, they say the tragedy of the Titan submersible that imploded during its expedition to the wreckage of the Titanic was an outlier, given that the maker of the vessel opted against certifying the vessel, defying industry convention. Industry experts say they were the first known fatalities in more than 60 years of civilian deep-sea submergence. While acknowledging the loss of life aboard the Titan, Ketter said "the facts are the facts" when it came to the experimental path OceanGate chose to take. "It's not that the regulations would be irrelevant, but they probably wouldn't be the biggest forcing function on the industry," Manley said.

Persons: James Cameron, Oscar, Cameron, OceanGate, Will Kohnen, Kohnen, Rush, John Mauger, Ofer Ketter, Ketter, Justin Manley, Manley, Brad Brooks, Daniel Trotta, Stephen Coates Organizations: OceanGate Expeditions, REUTERS, Titan, OceanGate Inc, Everett, Triton, Vehicle, American Bureau of Shipping, Marine Technology, Stockton Rush, . Coast Guard, Marine Technology Society, Thomson Locations: Newfoundland, Everett , Washington, Costa Rica

[1/2] The Titan submersible, operated by OceanGate Expeditions to explore the wreckage of the sunken SS Titanic off the coast of Newfoundland, dives in an undated photograph. Industry experts say they were the first known fatalities in more than 60 years of civilian deep-sea submergence. But even as industry leaders braced for increased scrutiny, they said it was difficult to forecast what sort of changes may come. While acknowledging the loss of life aboard the Titan, Ketter said "the facts are the facts" when it came to the experimental path OceanGate chose to take. "It's not that the regulations would be irrelevant, but they probably wouldn't be the biggest forcing function on the industry," Manley said.

But some experts had worried about its safety, with a former employee and members of a trade group both expressing concerns about the design of the Titan vessel during its development. Lochridge countersued in August 2018, denying that and claiming that OceanGate's lawsuit was an effort to discourage "whistleblowers from coming forth with quality control issues and safety concerns that threaten the safety of innocent passengers." In the letter, Kohnen expressed what he said were widespread concerns about the Titan sub. Kohnen asked the MTS board in 2018 to officially send the letter on behalf of the entire society to Stockton. Stockton was sent a draft of the letter and discussed its contents in a 2018 phone call with Kohnen, in which the men "agreed to disagree" about the safety concerns raised, Kohnen said.

Persons: David Lochridge, OceanGate, Lochridge, Lochridge countersued, Will Kohnen, Kohnen, Stockton, Daniel Trotta, Brad Brooks, Rollo Ross, Donna Bryson, Rosalba O'Brien Organizations: OceanGate, Lochridge, Marine Technology, Stockton Rush, Reuters, MTS, DNV GL, DNV, Thomson Locations: Everett , Washington, Stockton

☆ Russia's top spy agency is worried that domestic banks don't have enough foreign currency, report says
▼ + stars: | 2023-04-27 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Russia's top spy agency is worried that domestic banks don't have enough foreign currency. Russia's FSB also urged that any business deals with Chinese firms be kept secret. The Federal Security Service, or FSB, is worried that domestic banks don't have enough foreign currency, the leaked intel assessment said. After Vladimir Putin launched his war on Ukraine last year, Western sanctions froze Russia's foreign-currency reserves. The leaked documents also said that US intelligence officials believe Russia can continuing paying for its war on Ukraine for at least another year.

☆ China smartphone sales rise to more than 70% of Russian market
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +2 min

[1/3] A girl uses her smartphone on the street in Moscow, Russia August 1, 2022. REUTERS/Evgenia NovozheninaApril 17 (Reuters) - Chinese smartphones made up more than 70% of the Russian market in the first quarter of 2023, consumer electronics retailer M.Video-Eldorado (MVID.MM) said, up from around 50% last year. "Demand for brands from China in quantity terms increased by 42% relative to last year, and their total share was over 70%," M.Video added in a statement on Monday. The Kremlin has also moved to allow Russian companies to ship in some products, including smartphones, without the license holder's permission in so-called parallel imports. Last year, M.Video and mobile operator MTS (MTSS.MM) began selling discounted and used smartphones, offering Russian consumers cheaper alternatives as Western sanctions contributed to economic contraction and falling wages.

☆ UAE cancels licence for Russia's sanctioned MTS bank
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

DUBAI, March 31 (Reuters) - The United Arab Emirates' central bank on Friday said it will cancel the licence it granted last year to Russia's MTS bank, which was placed under British and U.S. sanctions in February. Operations at the bank's UAE branch, which is licensed in the emirate of Abu Dhabi, will be wound down within six months under central bank supervision. "This decision comes after considering the available options regarding the new status of the MTS Bank and taking into account the sanctions risks associated with the bank," the UAE central bank's statement said. U.S. officials have visited the UAE to discuss with regulators including the central bank the importance of clamping down on sanctions evasion. MTS Bank, a fintech unit of Russia's largest mobile operator Mobile TeleSystems (MTSS.MM), was part of a broader sanctions package against 200 entities and individuals announced in February on the first anniversary of Russia's invasion of Ukraine.

☆ How facial recognition is helping Putin curb dissent
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +8 min

There officers told the 51-year-old bank employee that the metro’s facial recognition system had flagged him for detention because of his political activism. Facial recognition is now helping police to identify and sweep up the Kremlin’s opponents as a preventive measure, whenever they choose. The facial recognition system in Moscow is powered by algorithms produced by one Belarusian company and three Russian firms. All but one said they understood from officers that they were flagged for detention by facial recognition. Facial recognition technology uses artificial intelligence algorithms to analyse and identify faces.

India's oil trade, in response to the turmoil of sanctions and the Ukraine war, provides the strongest evidence so far of a shift into other currencies that could prove lasting. MTS had facilitated some Indian oil non-dollar payments, the trade sources said. An Indian refining source said most Russian banks have faced sanctions since the war but Indian customers and Russian suppliers are determined to keep trading Russian oil. "As it is, the government is not asking us to stop buying Russian oil, so we are hopeful that an alternative payment mechanism will be found in case the current system is blocked." Similarly, many banks from Russia have opened accounts with Indian banks to facilitate trade.

☆ Western sanctions have weakened the dollar's dominance as India buys Russian oil with other currencies
▼ + stars: | 2023-03-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

India has been buying Russian oil trade with non-dollar currencies like the ruble, Reuters reported. India's shift came after the West imposed new sanctions on Russian oil in December. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyWestern sanctions have weakened the dollar's dominance in oil trades, as India increasingly buys Russian oil using other currencies, Reuters reported. Still, India is now the third-biggest importer of Russian oil, and traders will likely keep looking for ways to maintain flows. "As it is, the government is not asking us to stop buying Russian oil."

☆ Russian internet speeds drop on hardware shortage, research finds
▼ + stars: | 2023-03-01 | by ( Alexander Marrow | ) www.reuters.com time to read: +2 min

The country's largest telecoms operators, including MTS (MTSS.MM) and Megafon disputed the research, saying they had noted increased speeds in February, both in Moscow and beyond. It also said a fall in mobile internet traffic in Moscow had contributed to a rise in speeds there. MTS said it had noted increased traffic and mobile internet speeds in the regions, recording no decrease. "MTS is constantly working to expand network capacity, and telecoms operators and regulators are engaged in dialogue aimed at removing administrative barriers and stimulating the industry's development," it said. Rival Megafon said the median mobile internet speed on its network in regions excluding Moscow was 14% higher in February year-on-year, and up 18.5% in the capital.

☆ UAE cbank studying options after UAE licensed Russian bank sanctioned
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: 1 min

DUBAI, Feb 24 (Reuters) - The central bank of the United Arab Emirates is studying available options regarding the new status of Russia's MTS bank which it licensed to operate in the Gulf country last year, a state news agency WAM said on Friday. The Russian lender was part of a new sanctions package announced on Friday. "The Central Bank is studying now the available options regarding the new status of the bank and the appropriate decision will be taken in due course, considering the obligations incurred by the branch during the previous period," the statement said. Reporting by Rachna Uppal, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

METALS AND MININGIn a significant widening of its Russia-related sanctions, Treasury announced a new determination by the Office of Foreign Assets Control (OFAC) that allows sanctions on any individual or entity operating in Russia's metals and mining sector. On Friday, it hit four mining and metals sector companies, including TPZ-Rondol, a unit of Russia's largest ammunition maker, for producing weapons for the Russian military, including the navy, the Treasury said. Among other entities hit on Friday were more than a dozen Russian banks. Another bank hit was MTS Bank, which is located in Moscow and Abu Dhabi, United Arab Emirates. Brian Nelson, Treasury's top sanctions official raised concerns about UAE's decision to license the Russian bank during a visit to the country the week of Jan. 30.

☆ Airbnb's 13 most wish-listed properties in the world for 2023—including an $18 million home
▼ + stars: | 2023-01-30 | by ( Celia Fernandez | ) www.cnbc.com time to read: +8 min

Airbnb's most wish-listed new global listings for 2023Modern Smoky Mts Getaway Cabin - Gatlinburg, TennesseeThis cabin is nestled in the Smoky Mountains in Gatlinburg, Tennessee, United States. Luxury Glass Tiny House - Warren, VermontLocated in the heart of the Green Mountains in Vermont, this tiny home is just 200 square feet. AirbnbThis tiny home, with a jaw-dropping view, sits in the heart of the Green Mountains in Vermont. AirbnbThis cabin at Highlands Hideaway in Blue Ridge, Georgia, has three bedrooms, a bunk room, and three full bathrooms. AirbnbThis tiny home in Hawson, South Australia, Australia, was built between 2018 and 2019.

Nokia CEO Pekka Lundmark echoed that sentiment in a interview: "Our exit will be complete. "This will allow us to organise modern production of telecoms equipment in Russia," he said, without naming the operators or producers. Government programs to promote Russian equipment have helped telecoms operators become less reliant on Nokia and Ericsson over the past several years and Russian producers have increased their market share this year to 25.2% from 11.6% in 2021. Russian telecom operators stockpiled foreign-made parts in February and March ahead of sanctions, two of the industry sources said, but inventory will drop after Nokia and Ericsson pull the plug Dec. 31. Consolidation between Russian operators at the behest of the government might also allow them to share equipment and resources to make the networks last longer, industry sources added.

SEOUL, Oct 31 (Reuters) - Across South Korea, events such as autumn foliage festivals and K-Pop concerts are canceled, and grief-stricken communities are putting off gatherings after a Seoul crowd crush killed at least 154 people, threatening to crimp growth further. Universities have canceled weekend retreats known as MTs, and the opening event of the two-week Korea Sale Festa, the Korean version of the Black Friday, was called off. South Korea's southern resort island of Jeju called off the Jeju Olle Walking Festival, scheduled from Nov 3 to 5. The Korea Baseball Organization and Korea Volleyball Federation both said there won't be cheerleaders during its championship series. South Korea's economic growth already decelerated last quarter in response to slowing exports and a weakening currency.

☆ Russian regulator says mobile operator MTS breached anti-monopoly laws
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +2 min

Prices for most goods and services rose sharply soon after Russia sent thousands of troops into Ukraine in February, sparking hefty Western sanctions. The Federal Antimonopoly Service (FAS) said MTS would have to lower prices to economically justified levels and pay a fine, the size of which would be determined after an investigation. "The adjustment of tariffs took into account the growth in costs of servicing telecoms infrastructure, which exceeds the growth of telecoms service revenues," MTS said in a statement. "In August, September and October 2022, MTS again raised the cost for these tariff plans," the FAS said. The FAS said MTS had not provided enough evidence of its costs.

☆ Ion Ţiriac renunţă la funcţia de preşedinte al Federaţiei Române de Tenis
▼ + stars: | 2021-07-05 | by ( ) www.jurnal.md time to read: +2 min

Sursa foto: Getty ImagesIon Ţiriac renunţă la funcţia de preşedinte al Federaţiei Române de TenisFostul tenisman Ion Ţiriac a anunţat, luni, în cadrul unui eveniment organizat la complexul sportiv din Bucureşti care îi poartă numele, că renunţă la funcţia de preşedinte al Federaţiei Române de Tenis, el precizând că noul conducător trebuie să se dedice tenisului 12 ore pe zi. Întrebat cine ar trebui să fie preşedinte în locul său, Ţiriac a răspuns: "Cel mai nimerit. Am dat din viaţa mea 12 ani Federaţiei Române de Tenis şi nu regret. La federaţie ca preşedinte trebuie să te sacrifici, eşti zi de zi acolo. Ion Ţiriac a fost ales, la 19 iunie 2019, în funcţia de preşedinte al Federaţiei Române de Tenis, cu 32 de voturi obţinute la Adunarea Generală Extraordinară de Alegeri a forului naţional.

Persons: Ţiriac, Ion Ţiriac, îşi, Iohannis, Ilie Năstase, Năstase Organizations: Alegeri, MTS Locations: Bucureşti, federaţie

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