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☆ An M&A expert says creator-economy companies need to look beyond influencers to grow
▼ + stars: | 2024-08-12 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +6 min

Instead, look at companies that sell tools for content creation that service a wider swath of users, Lambros told Business Insider. BI spoke to Lambros about the state of the creator economy and the firm's recent report on the industry. The creator economy needs to crack B2BCompanies should not rely on influencers to make it big. Publicly traded companies within the creator economy include Shopify, Eventbrite, Roblox, and Reddit. Private-equity firms, an increasingly common buyer in the startup space, still have some learning to do about the creator economy, he said.

Persons: —, John Lambros, Houlihan Lokey, They're, Lambros, upstarts, it's, Permira, That's Organizations: Service, Business, Fortune, Avid, Networks, Publicly, YouTube Locations: Lambros

☆ A Chinese Olympic swimmer failed a doping test, but was given a pass after it got blamed on hamburgers: report
▼ + stars: | 2024-07-31 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA Chinese swimmer competing in the Paris Olympics was cleared of doping accusations after authorities sourced the drugs back to a tainted burger, according to New York Times reporting. The case comes in the wake of earlier NYT reporting that 23 Chinese athletes had tested positive for another banned medication in 2021. They were ultimately cleared in a Chinada investigation that traced the problem back to a hotel kitchen; and they went on to compete. China has cleared athletes of doping charges at least three times in the past, the paper reported.

Persons: —, Tang Muhan, Junyi, Travis Tygart, WADA, Shelby Houlihan, Getty, Stephen McCarthy Houlihan, Tang, Chinada Organizations: Service, New York Times, Business, Doping Agency, International Testing Agency, Paris Olympics, Chinese Olympics Locations: Paris, Beijing, China, Tokyo

☆ Organic and regular dark chocolate contaminated by lead and cadmium, study finds
▼ + stars: | 2024-07-31 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +7 min

As natural elements in the Earth’s crust, lead, cadmium and other heavy metals are in the soil in which crops are grown and thus can’t be avoided. The research team examined only pure dark chocolate products as they contain the highest amount of cacao, the raw, unprocessed part of the cacao bean. Gabi Musat/500px/Getty Images/FileLead and cadmium found, but no arsenicThe new study analyzed 72 consumer cocoa products for levels of lead, cadmium and arsenic. He authored a July study which analyzed 155 samples of chocolate and found higher levels of cadmium but little lead in dark chocolates. However, for healthy adults, Godebo’s risk analysis found little to worry about choosing to indulge in 1 ounce of dark chocolate now and again.

Persons: can’t, ”, Jane Houlihan, Houlihan, Gabi Musat, ’ ”, Danielle Fugere, ” Fugere, “, Leigh Frame, Tewodros Godebo, Godebo Organizations: CNN, Nutrition, Food and Drug Administration, National Confectioners Association, Consumer Labs, FDA, Integrative Medicine, Health, George Washington University, Tulane University School of Public Health, Tropical Medicine, Environmental Protection Agency, World Health Organization, “, WHO Locations: Washington ,, New Orleans

☆ Britain's Labour faces an uphill battle as it looks to rein in AI's key players
▼ + stars: | 2024-07-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

By taking aim at the most powerful AI models, Labour would impose tighter restrictions on companies such as OpenAI, Microsoft , Google , Amazon , and AI startups including Anthropic, Cohere and Mistral. Matthew Houlihan, senior director of government affairs at Cisco, said any AI rules would need to be "centered on a thoughtful, risk-based approach." Even so, a U.K. AI law would be a step above the U.S., which currently doesn't have federal AI legislation of any kind. Sirion's Liu said one thing he's hoping the government doesn't do, is restrict open-source AI models. Herman Narula, CEO of metaverse venture builder Improbable, agreed that restricting open-source AI innovation would be a bad idea.

Persons: Keir Starmer's, King Charles III, doesn't, Starmer's, Matt Calkins, Appian, Lewis Liu, Liu, Rishi Sunak, Peter Kyle, Kyle, Zahra Bahrololoumi, Matthew Houlihan, Bill, Chris Holmes, Holmes, Matthew Holman, Cripps, Holman, Sirion's Liu, Herman Narula, Narula Organizations: Future Publishing, Labour, European Union, Microsoft, Google, CNBC, Conservative, BBC, AI Safety Institute, Cisco, Authority, EU, AI Safety, Tech, London Tech Week Locations: Jiangsu province, China, Ireland, Salesforce, U.S

☆ UK tech bosses urge focus on AI skills and growth in high-stakes election — no matter who wins
▼ + stars: | 2024-06-11 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

Pa Images | Getty ImagesLONDON — British technology executives and entrepreneurs want the next government to focus on promoting skills around the development and use of artificial intelligence and growth-oriented fiscal measures. Upskilling in an AI ageOne thing U.K. tech executives are pushing for is fostering innovation in artificial intelligence and cultivating citizens' grasp on AI-centric skills — across multiple generations. Last month, dozens of business executives, entrepreneurs, and investors signed an open letter stating their support for Labour in the upcoming election. Leon Neal | Getty Images News | Getty ImagesSignatories included several influential names in the world of U.K. tech: Wikipedia founder Jimmy Wales, Founders Forum co-founder Jonathan Goodwin, and Atom Bank CEO Mark Mullen. Tech bosses CNBC spoke with found themselves unable to point to specific policies and plans from either of the main political parties.

Persons: Rishi Sunak, Sir Keir Starmer, Keir Starmer, Zahra, Salesforce, Einstein, Astro, Matthew Houlihan, Rachel Reeves, Angela Rayner, Leon Neal, Jimmy Wales, Jonathan Goodwin, Mark Mullen, Sunak, Liz Truss, Jeremy Hunt, Danny Lawson, Rishi Khosla, Khosla Organizations: Conservatives, Labour Party, LONDON, it's, Labour, CNBC, Innovation, Cisco, coy, Centre, Getty, Founders Forum, Atom Bank, BAE Systems, Tech Locations: Downing, Salesforce's, Europe, Purfleet, United Kingdom, Ukraine, British, Barrow, Furness, England

☆ Chemical toxin exposure in the womb linked to greater health risks for children ages 6 to 11
▼ + stars: | 2024-05-23 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +11 min

CNN —Chemical toxins are everywhere — in our water, food, air and soil. Children born to European mothers exposed to four families of chemicals that disrupt the body’s endocrine (hormone) system had elevated levels of metabolic syndrome at ages 6 to 11. Metabolic syndrome can include obesity, elevated blood pressure, and abnormally high cholesterol and insulin resistance, which is a precursor to type 2 diabetes. Metabolic syndrome is typically associated with adult cardiovascular disease, type 2 diabetes and stroke, but the growing epidemic of childhood obesity has seen symptoms appearing in kids at younger and younger ages. Having metabolic syndrome as a child is highly predictive of chronic disease as an adult, experts say.

Persons: Nuria Güil, ”, Oumrait, Vicente Mustieles, Mariana Fernández, Carmen Messerlian, Messerlian, phthalates, “, Jane Houlihan, ” Houlihan, Houlihan, PFAS, EWG Organizations: CNN, Icahn School of Medicine, JAMA, Biomedical Research, University of Granada, Harvard, of Public Health, International Council for Chemical Associations, American Chemistry Council, EPA, Food, Food and Drug Administration, FDA, NSF, National Sanitation Foundation Locations: Mount Sinai, New York City, Spain, Messerlian, Chan, Boston, United States

☆ 16,000 plastic chemicals exist, many of them hazardous and unregulated, report says
▼ + stars: | 2024-03-14 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +8 min

And with new plastic chemicals entering the market all the time, it’s been difficult for regulators and policy makers to determine the scope of the problem. Now, for the first time, researchers have pulled together scientific and regulatory data to develop a database of all known chemicals used in plastic production. It’s a staggering number: 16,000 plastic chemicals, with at least 4,200 of those considered to be “highly hazardous” to human health and the environment, according to the authors. Although grouping would capture about 1,000 of the most toxic chemicals in plastics, Wagner said, that still leaves about 2,600 chemicals that still need to be regulated. Missing hazard dataIn addition to the massive number of toxic chemicals, the report found that detailed hazard information is missing for more than 10,000 of the 16,000 chemicals.

Persons: it’s, It’s, “, ”, Martin Wagner, Wagner, Philip Landrigan, Landrigan, Matt Seaholm, ” Kimberly Wise White, ” Wagner, ” Landrigan, Tasha Stoiber, Stoiber, Jane Houlihan Organizations: CNN, Norwegian University of Science, Technology, Program, Global Public Health, Global, Planetary Health, Boston College, – Monaco, Plastics, Human, Plastics Industry Association, American Chemistry Council, International, United Nations Environment, Global Plastics, Environmental, Healthy Locations: Trondheim, United States

☆ The market's version of a 'quickie' divorce is getting more complex and costly
▼ + stars: | 2024-03-09 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +3 min

One time-honored corporate M&A prenup strategy, which could become more important going forward, is the use of break-up fees, also known as termination fees. In addition to reverse termination fees, companies are also allowing for longer timelines and more extensions than they were a few years ago, Thomas said. Not all deals include break-up fees for regulatory failures. Meanwhile, Visa's deal for Plaid was scuttled in 2021 due to regulatory snares, with neither of the companies owing break-up fees. A 2022 study by investment bank Houlihan Lokey shows that 57.1% of the 140 transactions reviewed had reverse breakup fees, with median fees of 4.2% as a percentage of transaction value.

Persons: Thomas, Houlihan Lokey, Pitchbook Organizations: Crowell, Moring, Discover Financial, Plaid, Regulators, Federal Trade Commission, Department

☆ A Gilded Age train station transformed into three cottages is on sale for less than $1 million. See inside.
▼ + stars: | 2024-03-03 | by ( Maria Noyen | ) www.businessinsider.com time to read: +1 min

The property on Old Depot Way is a slice of New York history, nestled into the countryside by a creek. Wappinger Creek, a waterway near the converted train station. This train station is positioned right by Wappinger Creek, "one of the top 10 trout streams in New York State," he said. Gilded Age folks arrived at the train station to escape the hustle and bustle of the city. But while Old Depot Way is still surrounded by nature, it isn't far from the outside world, Langa said.

Persons: Houlihan Lawrence, Langa, you've Locations: York, Langa, New York State

☆ Stanley and other drink cups contain lead. Should you be worried?
▼ + stars: | 2024-01-26 | by ( Madeline Holcombe | Sandee Lamotte | ) edition.cnn.com time to read: +7 min

CNN —First, Stanley cups were all over social media because so many people wanted them. Videos on social media sites such as TikTok show people breaking out a lead testing kit and trying it on their Stanley cups and other travel flasks. And Stanley cups are everywhere. Stanley cups are in the hands of beauty bloggers, the cars of parents at school pickup, and even on the Christmas lists of many kids this past year. The main source of lead exposure in the United States comes from inhaling dust or eating particles contaminated by paint chips.

Persons: Stanley, ”, Jane Houlihan, ” Houlihan, It’s, “, CPSC, Patty Davis, ” Davis, Olga Naidenko, Naidenko Organizations: CNN, Stanley, Pacific Market, “, US Centers for Disease Control, Healthy, US Consumer Product Safety, Amazon, US Environmental Protection Agency, CPSC, US Consumer Product, Safety Commission, CDC, Environmental Protection Agency Locations: Washington, DC, United States

☆ A woman transformed a 130-acre property in New York into an organic farm complete with a cozy yurt. Now it's on the market for just over $2 million — take a look.
▼ + stars: | 2023-11-13 | by ( Maria Noyen | ) www.businessinsider.com time to read: +1 min

A biodynamic farm built from "raw land" by its current owner has hit the market. Known as Z Farm, the $2 million property is home to wildlife, hiking, and views of the Catskills. The sale includes a yurt that could be turned into a permanent home, according to the listing agent. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. Six years later, the property is on sale for $2.2 million.

Persons: Houlihan Lawrence, Rachel Haley Organizations: Service Locations: Columbia County , New York, Belmont

☆ Exclusive: Country Garden aims to have offshore debt restructuring plan by year end
▼ + stars: | 2023-11-10 | by ( Xie Yu | ) www.reuters.com time to read: +4 min

The company logo of Chinese developer Country Garden is displayed at a news conference in Hong Kong, China March 20, 2018. Country Garden, which has almost $11 billion of offshore bonds, declined to comment. The timeline for the company's debt restructuring plan has not been reported before. CreditSights said in a Nov. 2 research note that Country Garden had "formally defaulted" on its offshore bonds due to the missed payment. Sunac China Holdings Ltd (1918.HK) in October became the first to complete the debt revamp scheme for its $9 billion offshore debt after winning approval from creditors and courts.

Persons: Bobby Yip, Ping, CreditSights, CICC, Houlihan Lokey, Sidley Austin, Houlihan, China Evergrande, Hui Ka Yan, Xie Yu, Clare Jim, Sumeet Chatterjee, Edwina Gibbs Organizations: REUTERS, Reuters, Insurance Group, Ping An, Sunac China Holdings Ltd, HK, Thomson Locations: Hong Kong, China, HONG KONG, HK, Beijing

☆ Reducing pesticides in food: Major food manufacturers earn an F grade
▼ + stars: | 2023-11-08 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +11 min

“Pesticide exposure during pregnancy may lead to an increased risk of birth defects, low birth weight, and fetal death,” the American Academy of Pediatrics stated. “Exposure in childhood has been linked to attention and learning problems, as well as cancer.”Yet pesticide exposure is widespread, even for chemicals that were banned years ago by federal agencies. In the 2023 Shopper’s Guide to Pesticides in Produce — a list of nonorganic produce with the most pesticides — researchers found 210 different pesticides on the 12 foods. In addition, consumers can ask food companies to “release the actual test results of pesticide concentrations in their products,” said EWG’s Temkin. “Food companies have not been publishing such data, instead relying on generalities,” she said via email.

Persons: ”, Cailin Dendas, “, disheartening, Jane Houlihan, Houlihan, Kale, collard, ” Alexis Temkin, toxicologist, ” Dendas, Jim Watson, Dendas, Sow, General Mills, Archer Daniels, Lamb, Nestlé, Dane Lisser, Shelby Stoolman, EWG’s, Temkin, ” Temkin, “ Steer Organizations: CNN, “ Pesticides, Healthy, “, ”, American Academy of Pediatrics, Environmental, US Environmental Protection Agency, Environmental Protection Agency, US Centers for Disease Control, Getty, Archer Daniels Midland Co, PepsiCo Inc, Conagra Brands Inc, Campbell Soup Company, Lamb Weston Holdings Inc, G Foods Inc, Cargill, Danone S.A, Del Monte Pacific Ltd, General, Inc, Kraft Heinz Company, Mars Incorporated, Mondelēz, Post Holdings Inc, ADM, US Food and Drug Administration Locations: United States, AFP

☆ How Ozempic could change the economy as we know it
▼ + stars: | 2023-11-05 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

A new wave of weight loss drugs could lead to indirect effects for all kinds of companies. Ozempic is a brand name for semaglutide, a diabetes drug that also has weight loss effects. Walmart, for example, which sells Ozempic and other GLP-1 drugs, found that customers buying those medications spent less on food year over year but more on lifestyle and fitness. Additionally, employee productivity could increase as Americans see the long-term benefits of weight loss and stay in the workforce longer. AdvertisementAdvertisementFor example, Walmart, which sells GLP-1 drugs like Ozempic, found that customers buying those medications spent less on food year over year but more on lifestyle and fitness.

Persons: It's, —, it's, Nik Modi, Modi, Josh Barro, Barro, Morgan Stanley, Scott Olson, they're, Houlihan Lawrence, James van Geelen, van Geelen Organizations: Service, Walmart, RBC Capital Markets, Jefferies, United Airlines, Citrinitas

[1/5] A view of the residential apartments in Country Garden's Forest City development in Johor Bahru, Malaysia August 16, 2023. The group hired PJT Partners (PJT.N) as financial adviser to lead discussions with Country Garden, two people with knowledge of the matter said. Ratings agency Moody's said on Thursday it could downgrade Country Garden's (2007.HK) 'corporate family rating' if the recovery prospects for its creditors weaken further. Moody's said Country Garden's senior unsecured rating of C was already at the lowest of its rating scale. Country Garden and Frasers did not immediately respond for a request for comment on that sale.

Persons: Edgar Su, PJT, Moody's, Frasers, Houlihan Lokey, Sidley Austin, Yeung Kwok Keung, Yang Huiyan, Yeung, Yang, Cao Jianglin, Garden's, China Evergrande, Scott Murdoch, Xie Yu, Clare Jim, Anousha Sakoui, Liz Lee, Lewis Jackson, Kim Coghill, Christopher Cushing, Jamie Freed, Lincoln, Miral Fahmy, Jane Merriman Organizations: REUTERS, HK, PJT Partners, Garden's, Australian Financial, Reuters, China International Capital Corporation, Finance, HSBC, China National Agricultural Development, SOE, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, China HONG KONG, Garden's Australian, Melbourne, China, Shunde, Guangdong province, Sydney, Hong Kong, London, Beijing, Sydndey

☆ Explainer: Country Garden: What happens next?
▼ + stars: | 2023-10-17 | by ( Clare Jim | ) www.reuters.com time to read: +5 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. A non-payment is expected after Country Garden last week warned about its inability to meet offshore debt obligations. Country Garden has appointed Houlihan Lokey, China International Capital Corporation (CICC) and law firm Sidley Austin as advisers to carry out an offshore debt restructuring. Until this year, Country Garden was the largest Chinese developer by sales. Country Garden has said repeatedly that "home delivery" is its top priority.

Persons: Aly, Houlihan Lokey, Sidley Austin, Evergrande, Clare Jim, Anne Marie Roantree, Sonali Paul Organizations: Shanghai Country Garden, REUTERS, HK, China International Capital Corporation, WHO, China Evergrande, Evergrande, Regulators, Beijing, Thomson Locations: Shanghai, China, HONG KONG, Beijing

☆ Country Garden: What happens next?
▼ + stars: | 2023-10-17 | by ( Clare Jim | ) www.reuters.com time to read: +5 min

☆ Country Garden's entire offshore debt to be in default if Tuesday payment not made
▼ + stars: | 2023-10-16 | by ( Clare Jim | ) www.reuters.com time to read: +2 min

REUTERS/Edgar Su/File Photo Acquire Licensing RightsHONG KONG, Oct 17 (Reuters) - Country Garden's (2007.HK) entire offshore debt will be deemed to be in default if China's largest property developer fails to make a $15 million coupon payment on Tuesday, the end of a 30-day grace period. Lack of payment - which is expected after Country Garden last week warned about its inability to meet offshore debt obligations - would make the firm the latest in scores of Chinese developers who have defaulted. Country Garden has also missed other offshore payments in the past few weeks though those payments still have not seen their 30-day grace periods lapse. Country Garden declined to comment. With nearly $11 billion of offshore bonds and $6 billion of offshore loans, a default by Country Garden would set the stage for one of China's biggest corporate debt restructurings.

Persons: Edgar Su, Houlihan Lokey, Sidley Austin, Clare Jim, Edwina Gibbs Organizations: REUTERS, HK, China International Capital Corporation, Kingboard Holdings, JPMorgan, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, HONG KONG, China, Hong Kong

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Country Garden, China's largest private property developer, has not defaulted so far, but has missed coupon payments on some dollar bonds since last month and faces the end of 30-day grace periods for making payments from next week. In a filing with the Hong Kong stock exchange on Tuesday, Country Garden said that its sales and financing were facing "significant challenges", and its available funds have continued to decrease. Country Garden was due on Monday to pay $66.8 million in coupons on 2024 and 2026 dollar bonds, although the payments have a 30-day grace period. ($1 = 7.8284 Hong Kong dollars)Reporting by Scott Murdoch in Sydney and Xie Yu in Hong Kong; additional reporting Rishav Chatterjee in Bengaluru and Clare Jim in Hong Kong; Editing by Rashmi Aich, Lincoln Feast, Jamie Freed and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, homebuyers, Houlihan Lokey, Sidley Austin, Jeff Zhang, Sandra Chow, CreditSight's, Scott Murdoch, Xie Yu, Rishav Chatterjee, Clare Jim, Rashmi Aich, Lincoln, Jamie Freed, Kim Coghill Organizations: Shanghai Country Garden, REUTERS, HK, Hong, China International Capital Corporation, Asia, China Evergrande, Investment, Thomson Locations: Shanghai, China, HONG KONG, Hong Kong, Beijing, Sydney, Bengaluru, Clare

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Companies accounting for 40% of Chinese home sales - mostly private property developers - have defaulted on debt obligations since a liquidity crisis hit the sector in 2021, leaving many homes unfinished. The developer had been working towards announcing a restructure of its offshore debt, Chinese media reported on Monday. Country Garden faces another big test next week when its entire offshore debt could be deemed in default if it fails to pay a $15 million September coupon by Oct. 17. "The difficult situation shows that Chinese developers face severe liquidity pressure from weak home sales, and repayment to bondholders is still a lower priority," said Gary Ng, senior economist at Natixis Corporate and Investment Bank.

Persons: Aly, Houlihan Lokey, Sidley Austin, Morningstar, Jeff Zhang, Sandra Chow, CreditSight's, Gary Ng, Scott Murdoch, Xie Yu, Rishav Chatterjee, Rashmi Aich, Lincoln, Jamie Freed 私 Organizations: Shanghai Country Garden, REUTERS, Garden Holdings, HK, Hong Kong Stock Exchange, China International Capital Corporation, Asia, Natixis Corporate, Investment Bank Locations: Shanghai, China, HONG KONG, Hong Kong, Sydney, Bengaluru

☆ China’s Country Garden warns of default again as property sales plunge
▼ + stars: | 2023-10-10 | by ( Laura He | ) edition.cnn.com time to read: +6 min

The deepening woes at Country Garden offer more evidence that China’s all-important property market is languishing in a persistent downturn, which poses a major threat to the country’s growth prospects. Country Garden was one of the few major private developers still standing after a liquidity crisis engulfed China’s property sector two years ago. The news shocked investors, triggering a broad sell-off in China’s property stocks. Significant uncertaintyOn Tuesday, Country Garden reported that its sales plunged further in September, down 81% from a year earlier. If confirmed, a debt restructuring for Country Garden would be the latest for a Chinese home builder.

Persons: “, Houlihan Lokey, Sidley Austin, Xu Jiayin Organizations: Hong Kong CNN, Hong Kong, Hong Kong Stock Exchange, CNN, China International Capital Corporation Hong Kong Securities, Country Locations: China, Hong Kong, Beijing

☆ China's property crisis just keeps getting worse — property giant Country Garden just warned it may default on its debt
▼ + stars: | 2023-10-10 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China's Country Garden warned on Tuesday it could default on its offshore debt payments. Country Garden is the latest high-profile Chinese real-estate giant ensnared in a liquidity crunch. On Tuesday, embattled property giant Country Garden signaled that it may be facing its first default ever, in a filing to the Hong Kong Stock Exchange. However, Country Garden has around 3,000 unfinished projects — which is around four times that of Evergrande's 800 projects that are still being built. Country Garden shares were down 9.5% at 76 Hong Kong cents at 3.34 p.m. local time.

Persons: —, Evergrande —, it's, Houlihan Lokey, Sidley Austin Organizations: HK, Service, Hong Kong Stock Exchange, Hong, Bloomberg, China International Capital Corporation, Garden Locations: Hong Kong, China

Jefferies analysts wrote in a note the Federal Reserve putting the brakes on interest rate hikes has given acquirers more certainty around their funding costs, helping dealmaking. Cisco's deal valued Splunk at 7 times projected 12-month revenue, according to Jefferies. "We note that the typical security company with 20% growth trades at about 7 times (sales)," BTIG analysts wrote in a note last week. Private software companies may also be more receptive to takeovers. "A tidal wave of software M&A (is) on the horizon," Wedbush analysts wrote in a note last week.

Persons: Chuck Robbins, David Chen, Morgan Stanley, Chen, Jefferies, Keith Skirbe, Houlihan Lokey's, Milana Vinn, Anirban Sen, Anna Driver Organizations: Cisco Systems, Cisco, Crowdstrike Holdings, Microsoft, Adobe, Oracle, Francisco Partners, TPG Inc, Federal Reserve, IBM, Reuters Graphics Reuters, Jefferies, Thomson Locations: New York

☆ Sino Ocean: China property woes deepen as a big developer suspends debt payments
▼ + stars: | 2023-09-15 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —A major Chinese property company has suspended offshore debt payments, deepening turmoil in the beleaguered sector. Property sales by floor area dropped 7.1% in the January to August months, compared to the first eight months of 2022. On Thursday, Moody’s downgraded its outlook for the overall sector, citing a downturn in residential sales and continued jitters about the health of the industry. In June and July, nationwide property sales fell around 20% compared to the same period a year before, it said in a report. This reversed “the 11.9% growth for the first five months, reflecting renewed weakness in residential property,” the agency added.

Persons: Houlihan Loukey, Sidley Austin, Moody’s, — CNN’s Juliana Liu Organizations: Hong Kong CNN, Hong, National Bureau, Statistics, China SCE Group Locations: China, Hong Kong, Sino, Beijing

☆ SoftBank's Arm soars in market debut to notch $60 bln valuation
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +3 min

Arm executives and CEO Rene Haas gather outside Nasdaq Market site, as Softbank's Arm, chip design firm, holds an initial public offering (IPO), in New York, U.S., September 14, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsSept 14 (Reuters) - Shares in SoftBank's Arm Holdings ARM.O opened 18% above their offer price in their Nasdaq debut on Thursday, valuing the British chip designer at nearly $60 billion in its return to the public markets after seven years. The stock opened at $56.10 per American Depositary Share compared with the initial public offering (IPO) price of $51, and steadily extended gains to just over $60. "The Arm IPO is the most hyped listing we've had in the markets for a while." Compiled by the Global Finance & Markets Breaking News teamOur Standards: The Thomson Reuters Trust Principles.

Persons: Rene Haas, Brendan McDermid, SALMAN MALIK, ANSON, ” OWEN LAU, JORDAN STUART, “, ” “, ’ ” DANIEL KLAUSNER, HOULIHAN, haven't, ”, ” KYLE RODDA, ANDREW Organizations: Nasdaq, REUTERS, Holdings ARM.O, OPPENHEIMER, FEDERATED HERMES, OF, PUBLIC, ROSENBLATT, Global Finance, Markets, Thomson Locations: New York, U.S, “

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