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Following a long period of waiting, "the IPO market's back." That's according to Colin Stewart, Morgan Stanley's global head of technology equity capital markets. In an interview with CNBC's "TechCheck" on Monday, Stewart said 10 to 15 more tech companies could go public before the end of 2024, with an even "better year" in store for 2025. Morgan Stanley was the lead banker on the Reddit and Astera IPOs, positioning itself to collect roughly $37 million in total fees. Wall Street rival Goldman Sachs led the latest venture-backed tech IPO last week.

Persons: Colin Stewart, Morgan, CNBC's, Stewart, It's, we've, Reddit, Morgan Stanley, Astera, Goldman Sachs Organizations: Wall Street, New York Stock Exchange

☆ Lead Bank CEO on what's next for fintech
▼ + stars: | 2024-04-09 | 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 EmailLead Bank CEO on what's next for fintechJackie Reses, co-founder and CEO of Lead Bank, joins CNBC's 'The Exchange' to discuss the banking sector's health, regulatory impact on fintech, and more.

Persons: what's, Jackie Reses Organizations: Lead, Lead Bank

☆ Why Stephanie Cohen is leaving Goldman Sachs. The Wall Street veteran opens up about her new move to 'help build a better internet.'
▼ + stars: | 2024-03-18 | by ( Bianca Chan | ) www.businessinsider.com time to read: +11 min

Cohen, 46, will join Cloudflare, a San Francisco-based technology company aimed at helping businesses improve their internet security and performance. It will be a familiar role, as she served as Goldman's strategy chief from 2018 to 2020. Having spent 20 years inking deals within Goldman Sachs' investment banking unit, Cohen is no stranger to the boardroom. "But the reality is, Goldman Sachs is not a technology firm," Cohen said. When she broke the news to Argenti, he told her, 'This is exactly what you should do… this is exactly the right company," Cohen recalled.

Persons: Stephanie Cohen, Cohen, " Cohen, David Solomon, Goldman, Beth Hammack, Cloudflare, Solomon, John Waldron, Matthew Prince, Michelle Zatlyn, Goldman Sachs, it'll, Lloyd Blankfein, Brendan McDermid, Reuters Cohen, they're, I, Stephanie, Prince, she'll, Marco Argenti Organizations: Business, Cloudflare, IBM, University of Illinois, Goldman, Reuters, Financial Times Locations: San Francisco, Utah, Urbana, Champaign

☆ Wall Street's typical career path might have a massive detour thanks to AI
▼ + stars: | 2023-09-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

As for today's edition, we're looking at how AI could upend the job of the junior banker, and the effect that'll have on Wall Street's traditional career path. AdvertisementAdvertisementAspiring financiers need to look no further than investment banks' analyst programs to get a foot in the door. But this crucial piece of Wall Street's ecosystem could be upended by the rise of artificial intelligence. AdvertisementAdvertisementBuy-side firms have largely held off on going after college graduates, instead pointing them toward banks' analyst programs. Regardless of what direction things go, what's clear is the type of work AI excels at falls directly in junior bankers' wheelhouse.

Persons: Insider's Bianca Chan, Emmalyse Brownstein, Alyssa Powell, Steve Cohen's, Cohen, millennials, Elon Musk, Mark Zuckerberg, Jeff Bezos, ChatGPT, Xavier Lalanne, It's, Saint, Givenchy, Donald Glover, Childish Gambino, Will Smith, Catherine Zeta, Jones, krisanapong detraphiphat, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Guild of America, Hollywood, Tech, LinkedIn, Meta, National, Costco, Lowe's, Tractor Supply, Brands, Getty Images Finance Locations: Wall, Silicon, Paris, New York City, San Diego, London, New York

☆ Yen sell-off may lead Bank of Japan to hike rates sooner: Bob Michele
▼ + stars: | 2023-09-21 | 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 EmailA yen sell-off may prompt Bank of Japan to hike rates sooner than expected: JPMorgan's Bob MicheleBob Michele, global head of fixed income at JP Morgan Asset Management, discusses the outlook for the Bank of Japan's monetary policy approach.

Persons: Bob Michele Bob Michele Organizations: Bank of Japan, Morgan Asset Management, Bank

☆ Ex-CEO of Brazil's Americanas says he did not expect to lead bankrupt firm
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

Aug 22 (Reuters) - The former head of Brazilian retailer Americanas (AMER3.SA) quit two weeks into the job because he had not expected to take over a bankrupt firm, he told Brazilian lawmakers probing its $5 billion accounting fraud on Tuesday. Former Chief Executive Sergio Rial, who testified in a congressional investigation, resigned on Jan. 11, the same day Americanas revealed accounting inconsistencies that were later found to be fraud. I did not buy into an insolvent project," he told lawmakers, saying he had not expected Americanas' debt to exceed its assets. Rial in March testified before senators saying Americanas' previous management had created difficulties in disclosing information about the company's situation and the succession process. Reporting by Carolina Pulice and Peter Frontini; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

Persons: Sergio Rial, Rial, Americanas, Carolina Pulice, Peter Frontini, Cynthia Osterman Organizations: SA, Jan, Santander Brasil, 3G, Thomson

☆ Fed's Collins leans toward one more rate hike then hold for rest of year
▼ + stars: | 2023-03-30 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

Collins said she supported the Fed’s decision last week to raise its overnight target rate by 25 basis points to between 4.75% and 5.00%. That the Fed is not on track for more rate rises owes to troubles in the banking system, which has contributed uncertainty to the monetary policy outlook, the official said. “While the banking system remains strong and resilient, recent developments will likely lead banks to take a somewhat more conservative outlook and tighten lending standards, thus contributing to slowing the economy and reducing inflationary pressures,” Collins said. “These developments may partially offset the need for additional rate increases.”The Fed bank leader said the Fed is monitoring market conditions and “is prepared to use all tools at its disposal in keeping the banking system safe and sound.”In her remarks, Collins said that she views the banking system as resting on solid footing. As the Fed moved toward its last meeting, regional bank failures spurred fears about financial sector liquidity as authorities worked to ease those worries, while banks drew historic amounts of liquidity from the Fed.

☆ Tapping into the future of finance: 3 experts discuss the ways frictionless payments will revolutionize digital banking within the decade
▼ + stars: | 2023-03-29 | by ( Elizabeth Wood | ) www.businessinsider.com time to read: +5 min

Experts share their insights into how frictionless payments are changing the way people engage with online banking. Carter Johnson, senior finance reporter at Insider, spoke with Douglas and other financial experts about frictionless payment systems. Rajan agreed that building loyalty and trust in banking technology and frictionless payment systems requires due diligence. The future of finance is digitalThe experts agree that in the next decade, digital wallets and frictionless payments will be the banking rule, not the exception. Rajan noted that each person is going have a unique way of engaging with frictionless payment systems.

☆ What the Fed’s Interest-Rate Increase Means for Your Money
▼ + stars: | 2023-03-22 | by ( Oyin Adedoyin | ) www.wsj.com time to read: 1 min

The bar Americans have to clear to get approved for loans and credit cards will likely rise along with interest rates, partly as a result of the fallout from the collapse of Silicon Valley Bank. The Federal Reserve raised interest rates another 0.25 percentage point on Wednesday. Though that is on the smaller end of interest-rate increases over the past year, recent troubles across the banking industry, caused in part by higher rates, will lead banks to toughen lending standards, compounding the effect of the increase, financial analysts and advisers say.

☆ What the Fed’s Next Interest-Rate Move Means for Your Money
▼ + stars: | 2023-03-21 | by ( Oyin Adedoyin | ) www.wsj.com time to read: 1 min

The bar Americans have to clear to get approved for loans and credit cards will likely rise along with interest rates, partly as a result of the fallout from the collapse of Silicon Valley Bank. The Federal Reserve is expected to raise rates again Wednesday, though some economists say it could hit pause this month or in coming months. Regardless, recent troubles across the banking industry, caused in part by higher rates, will lead banks to toughen lending standards, financial analysts and advisers say.

☆ BlackRock CEO Fink warns of financial risks, persistent inflation
▼ + stars: | 2023-03-15 | by ( Ross Kerber | ) www.reuters.com time to read: +4 min

[1/2] Larry Fink, Chief Executive Officer of BlackRock, stands at the Bloomberg Global Business forum in New York, U.S., September 26, 2018. Fink wrote that after the regional banking crisis, the financial industry could see what he termed "liquidity mismatches." “It’s too early to know how widespread the damage is,” Fink wrote. BlackRock has previously said its diversified products "have limited exposure to Silicon Valley Bank." "The monetary and fiscal tools available to policymakers and regulators to address the current crisis are limited, especially with a divided government in the United States," Fink wrote.

☆ Silicon Valley Bank's collapse means startups and VCs face billions in losses
▼ + stars: | 2023-03-11 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +4 min

SVB's startup and VC customers are staring down huge losses after its failure. A buyer is being sought for the failed bank by Monday to avoid more calamity for startups. SVB customers stare down big lossesIn a report on Friday, the ratings agency Moody's said it expected a recovery rate of 80% to 90% for uninsured depositors. While there were likely billions in deposits withdrawn prior to SVB's closure, there's still likely to be many billions left at risk. SVB's deposits soared in recent years as it became the go-to lender in the VC ecosystem.

☆ Hundreds of startups face a crippling cash crunch and an 'extinction-level event' if no one buys Silicon Valley Bank by Monday
▼ + stars: | 2023-03-11 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +5 min

Silicon Valley Bank's collapse has left hundreds of startups facing a cash crunch and payroll crisis. It leaves hundreds of startups that deposited their cash with the bank in turmoil, as they try to continue operating while millions in funds are locked up. Startups scramble for cashThe need for startups to make payroll is one being echoed across the VC ecosystem. In a tweet, founder Nikita Bier said: "The number of growth stage companies that had their cash at SVB is huge. Even startups that didn't bank directly with SVB have been hit by its collapse.

Arm is expected to confidentially submit paperwork for its initial public offering in late April, the sources said, speaking on condition of anonymity because the discussions are confidential. The listing is expected to happen later this year and the exact timing will be determined by market conditions, the sources added. SoftBank has picked four investment banks to lead what is expected to be the most high-profile stock market flotation in recent years. The preparations for the IPO are expected to be kick-started in the U.S. in the coming days, the sources said. The valuation range has not yet been finalized but Cambridge, England-based Arm is hoping to be valued at more than $50 billion during its share sale, the sources said.

☆ Japanese Prime Minister Fumio Kishida says Kazuo Ueda is the best fit to lead Bank of Japan
▼ + stars: | 2023-02-15 | by ( ) www.cnbc.com time to read: +1 min

Prime Minister Fumio Kishida speaks during a press conference at the prime minister's office on July 14, 2022 in Tokyo. Japanese prime minister Fumio Kishida said on Wednesday Bank of Japan (BOJ) governor nominee Kazuo Ueda is the best fit to lead the central bank as he is a well known economist globally and has high expertise in financial field. The appointment of Ueda was made after taking the market impact as well economic and wage growth and price stability targets into consideration, Kishida told a parliamentary committee, adding that internal and external communication skills were also a factor in the decision. "We expect the BOJ to continue to conduct appropriate monetary policy operations in coordination with the government, taking into account economic, price and financial conditions," Kishida said. The government named academic Ueda as its pick to become next central bank governor Tuesday.

☆ ECB rejects banking sector call for lower capital to boost lending
▼ + stars: | 2023-01-27 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

REUTERS/Pascal RossignolLONDON, Jan 27 (Reuters) - The European Central Bank (ECB) on Friday rejected calls from Europe's banks to ease capital rules to boost lending and put them on an equal footing with U.S. rivals. "Policymakers should redouble their efforts to complete the banking and capital markets unions," the report said, referring to EU projects to deepen its capital market and create a more competitive cross-border banking market. "The largest global European banks have even slightly lower requirements than their counterparts across the Atlantic," an ECB spokesperson said. "It is also questionable that lower capital requirements would lead to higher lending: what is proven is that low levels of capital lead banks to abruptly reduce lending in a crisis, thus deepening the adverse impact on the economy," the ECB said. The EU is finalising the remaining leg of global bank capital rules that were written in response to the financial crisis, with temporary waivers from some elements in the teeth of ECB opposition.

☆ Credit Suisse seeing strong demand for new sterling-denominated bond
▼ + stars: | 2023-01-05 | by ( Chiara Elisei | ) www.reuters.com time to read: +1 min

Jan 5 (Reuters) - A new bond being sold by Credit Suisse on Thursday met with strong demand from investors, a lead memo seen by Reuters showed, in a positive sign for the embattled Swiss bank. The sterling-denominated bond is expected to be priced later on Thursday and follows the sale of two U.S. dollar-denominated Credit Suisse bonds on Wednesday. Credit Suisse sold a $1.25 billion two-year bond, with a 7.95% coupon and an 8.06% yield, and a $2.5 billion dollar five-year bond with a 7.50% coupon and a 7.551% yield. The high yields reflect the higher premium investors are demanding to hold Credit Suisse debt as the bank goes through a restructuring. Credit Suisse has been battered by mishaps, including a $5.5 billion loss on U.S. investment firm Archegos.

☆ Vietnamese EV maker VinFast files to go public in the U.S.
▼ + stars: | 2022-12-06 | by ( John Rosevear | ) www.cnbc.com time to read: +2 min

The VF-8 electric vehicle from VinFast, a Vietnamese automaker producing electric cars and SUV's, is on display at their showroom in Santa Monica, California, on July 18, 2022. Vietnamese EV maker VinFast is going public in the U.S.VinFast on Tuesday said it has filed a registration statement with the U.S. Securities and Exchange Commission, the first formal step toward a public offering next year. The company in March announced plans for a $2 billion factory in North Carolina and hopes to deliver its first vehicles to American customers by year-end. It's now focused entirely on electric vehicles – production of its last internal-combustion model ended in early November. Founded in 2017, VinFast is a unit of Vingroup, Vietnam's largest conglomerate, which has interests in real estate development and education as well as a number of technology businesses.

☆ Morgan Stanley CEO James Gorman defends Elon Musk amid layoffs and chaos at Twitter - and says he's not concerned about the bank's massive loan to the Tesla exec
▼ + stars: | 2022-12-01 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

Morgan Stanley's James Gorman defended Elon Musk amid Twitter chaos on Thursday. There have been layoffs and chaos around user verification at Twitter since Musk's takeover. "Twitter is a great company, and Elon Musk is an extraordinary executive. Everyone exited was offered 3 months of severance, which is 50% more than legally required," Musk tweeted on Nov. 4. Gorman says he's unbothered by Musk's social media presence.

☆ Turkish bankers fear regulatory burden will reverse profit boom
▼ + stars: | 2022-11-08 | by ( Ebru Tuncay | ) www.reuters.com time to read: +5 min

Bankers forecast a very tough 2023 and beyond for earnings and lending, several of them told Reuters. Their share of outstanding loans has fallen to 29%, compared to 46% for state lenders that have increased their dominance in recent years. Other bankers said the regulations and rising costs have interfered with basic credit extension and could lead banks to cut operational costs. Authorities "tied the fate of the banking sector to state lenders with the recent regulations. Still, other sources close to the state lenders said these concerns are exaggerated given exporters, the focus of Erdogan's programme, are easily getting credit.

Banks place holds on checks to make sure that your check payer has the bank funds necessary for the check to clear. Below, we'll cover the most common reasons your bank may be holding your check, how long it could last, and what you can do to avoid check holds in the future. Apply now A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.8 out of 5 Stars Editor's Rating A tooltip OUR EDITOR'S RATINGS ARE PRIMARILY BASED ON 3 THINGS: SIMPLICITY, AFFORDABILITY, AND VALUE. Apply now A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.6 out of 5 Stars Editor's Rating A tooltip OUR EDITOR'S RATINGS ARE PRIMARILY BASED ON 3 THINGS: SIMPLICITY, AFFORDABILITY, AND VALUE. Apply now A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.6 out of 5 Stars Editor's Rating A tooltip OUR EDITOR'S RATINGS ARE PRIMARILY BASED ON 3 THINGS: SIMPLICITY, AFFORDABILITY, AND VALUE.

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