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New York CNN —Dealmaking is the lifeblood of Wall Street. But analysts say that funding cuts in the plan could end up harming mergers and acquisitions on Wall Street, squashing hopes of a recovery in dealmaking. The bad news: Recent regulations and proposed budget cuts threaten to step on those green shoots before they’re able to flower. Why it matters: Dealmaking isn’t just good for Wall Street. Shares of the stock are down nearly 30% so far this year after its seemingly nonstop streak of bad luck.
Persons: New York CNN — Dealmaking, Joe Biden, squashing, It’s, Goldman Sachs, , Lucille Jones, Jones, Mitch Berlin, Biden, , ” Berlin, That’s, Hewlett Packard, , TikTok —, Brian Fung, TikTok, Shou Chew, Nadya Okamoto, Okamoto, Teddy Siegel, Siegel, David Goldman, LATAM, it’s, Max Organizations: CNN Business, Bell, New York CNN, Wall, LSEG, Federal Reserve, Federal Trade Commission, Department of Justice, Congressional, Office, CNN, Discover Financial Services, Hewlett, Juniper Networks, Target, Boeing, Alaska Airlines, United Airlines, The National Transportation Safety, Federal Aviation Administration, FAA, NTSB Locations: New York, dealmaking, EY, Berlin, , LSEG, Australia, New Zealand, Newark
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEY forecasts M&A activity will return to pre-pandemic levels in 2024Mitch Berlin, EY Americas vice chair of strategy and transactions, joins 'The Exchange' to discuss a potential merger and acquisition rebound in 2024, the impact of rates on deals, and more.
Persons: Mitch Berlin Organizations: EY Locations: EY Americas
AI deals give investment banks a glimmer of hope
  + stars: | 2023-09-26 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +6 min
About a third of all M&A deals in the first half of 2023 were technology deals, and a lot of that was related to AI, said Berlin. The success of these deals mean more M&A is likely on the horizon, said Dan Ives, a tech analyst at Wedbush. Costco members now have access to $29 online health care visitsCostco is known for its giant tubs of mac and cheese, cheap hotdogs and more-for-less warehouse deals. The retailer is offering the new service in partnership with Sesame, a direct-to-consumer health care marketplace that connects medical providers nationwide with consumers. Costco is among several retailers, including Amazon, CVS and Walgreens, who are directly providing health care to customers as the demand booms for urgent care access outside of a traditional hospital setting.
Persons: CNN —, Goldman Sachs, Goldman, ” Goldman, David Solomon, Instacart’s, , Mitch Berlin, “ You’re, Dan Ives, ” Ives, Taavon Naja, Ramishah Maruf, Parija Kavilanz, Sesame Organizations: CNN Business, Bell, CNN, Wall, Companies, Renaissance, Nasdaq, Cisco, Wedbush, of Foreign, Control, Costco, Costco Pharmacy’s, Amazon, CVS, Walgreens Locations: Americas, Berlin, Iran, Switzerland, United States, PFAS, New York
Before the Bell spoke with Mitch Berlin, EY Americas Vice Chair, Strategy and Transactions, to discuss the effect the debt ceiling drama is having on dealmaking:This interview has been slightly edited for clarity. Uncertainty around the debt ceiling is threatening to stall any momentum in the M&A market. If the debt ceiling is not raised within the next few weeks, dealmaking will largely be put on hold and [it] could set M&A dealmaking back to the lows of the early pandemic or worse. Janet Yellen stands by June 1 debt ceiling deadlineUS Treasury Secretary Janet Yellen on Sunday reaffirmed June 1 as the “hard deadline” for the United States to raise the debt ceiling or risk defaulting on its obligations. “There will be hard choices to make if the debt ceiling isn’t raised,” reiterated Yellen after Biden’s warning.
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