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Yields on Indonesia's 10-year benchmark bonds climbed 8.5 basis points to a two-month high. Riskier currencies, such as those of emerging markets, thrive on U.S. interest rates remaining low because they benefit from the interest rate differential that increases their appeal for carry trade. Philippine shares continued to unwind some of the more than 11% gain accumulated in recent weeks and fell half a percent. HIGHLIGHTS ** Top losers on the Jakarta stock index include Prima Globalindo Logistik down 8.5%, MegaPower Makmur and Bank IBK Indonesia down 7%. ** In the Philippines, top losers are BDO Unibank down 2.8%, LT Group down 2.7%, and SM Prime Holdings down 2.6%.
Persons: Shashwat Awasthi, South Korea's, Gareth Leather, Morgan Stanley, MegaPower, Shashwat, Sujata Rao, Shailesh Organizations: Bank of Japan, South, . Federal, Capital Economics, Malaysian, Globalindo, Bank IBK, BDO Unibank, LT Group, SM Prime Holdings, FX Locations: Indonesia, ., Jakarta, Asia, U.S, Philippine, MegaPower Makmur, Bank IBK Indonesia, Philippines, Japan, China, India, Malaysia, Singapore, Taiwan, Thailand, Bengaluru
He’d quit his job in venture capital in 2019 to try to launch his own fund giving early-stage money to tech startups founded by entrepreneurs of color, but investor interest was slim. Mercedes Bent, a partner at Lightspeed Venture Partners, says investors are often more comfortable investing in founders who share their backgrounds. Nearly 80% of investment partners in venture capital are white, according to a 2021 Deloitte study, and around 15% are Asian or Pacific Islander. In many ways, Mr. Norman says, both investors and Black founders are playing catch up. Many investors in Silicon Valley lack exposure to Black founders, he says, and the reverse is true as well.
Persons: Austin Clements, He’d, they’d, , Clements, Long, Morgan Stanley, Clements’s, Ashton Kutcher, Slauson —, , they’ve, Mercedes Bent, Milana Shapira, George Floyd, , Bent, Floyd’s, who’ve, Michael Seibel, Y, “ Covid, Mr, Seibel, Kelli Jones, “ They’ve, Jones, Songe LaRon, Dave Salvant, Squire, “ It’s, James Norman, Norman, Matt Joseph, Jesse Middleton, Middleton, “ I’m, ” Yelitsa Jean, Charles, Lolita Taub, who’s, Yelitsa Jean, Salvant, barbershops, Mark Zuckerberg, Ping Chen Organizations: Black, Slauson, PayPal Holdings Inc, Harlem Capital, Lightspeed Venture Partners, Deloitte, Babson, Lightspeed, Pacific Islander, Kauffman Fellows Research Center, Sixty8, Sixty8 Capital, barbershops, Squire Technologies, Inc, Google, PayPal, CNN, Uber Technologies Inc, Social, Center for Venture Research, University of New, Venture, Flybridge, Mr, Healthy, Dolls, , Investors, Compass Locations: Black, U.S, Clements’s Los Angeles, Harlem, Silicon, Silicon Valley, , Indianapolis, Midwest, Michigan, University of New Hampshire, Denver, Chicago, PitchBook, Bay, Latina, Middleton, Haitian, New York City, Atlanta
The rupiah weakened for the fifth straight session and fell as much as 0.3%, a day after Bank Indonesia (BI) held its benchmark rate at a record low and pledged to ensure the currency remained stable. The rupiah has rallied more than 2% since April but was set to lose more than 1% this week. "Going forward, given subdued inflation pressures and the nascent recovery, we expect Bank Indonesia to keep the policy rate unchanged this year," Goldman Sachs analysts said. Currencies across the rest of emerging Asia remained mixed, though South Korea's won fell for the fifth consecutive day. ** Top losers on the Jakarta stock index include MegaPower Makmur, Mulia Industrindo and Bank IBK Indonesia, all down 7%.
Persons: Shashwat Awasthi, Goldman Sachs, South Korea's, Morgan Stanley, Mulia, Shashwat, Simon Cameron, Moore Organizations: Bank of Japan, . Federal, Bank Indonesia, Bank, U.S, Treasury, Malaysian, Bank IBK, Metropolitan Bank and Trust, Puregold, JG Summit Holdings, FX Locations: Indonesia, ., Bank Indonesia, Asia, South, Jakarta, Mulia Industrindo, Bank IBK Indonesia, Philippines, Japan, China, India, Malaysia, Singapore, Taiwan, Thailand, Bengaluru
Morgan Stanley is backing developed European markets to be the strongest performers over the next two years, and has identified 30 emerging market stocks set to benefit. But many analysts now see the continent as offering the strongest growth prospects as the recovery gathers steam. In its Global Exposure Guide, published Monday, the Wall Street investment bank set out its regional preferences in order as Europe, Japan, emerging markets and the U.S. Indeed, Europe was among the few regions where Morgan Stanley economists projected stronger GDP growth in 2022 than 2021. Here's how Morgan Stanley intends to gain European exposure through emerging markets:
Persons: Morgan Stanley Organizations: EU, Wall Locations: Europe, Japan, 2H21
The domestically focused mid-cap index (.FTMC) advanced 0.2% after three straight sessions of falls and outperformed the blue-chip FTSE 100 (.FTSE) and pan-European STOXX 600 (.STOXX). Among industrials, Rotork Plc (ROR.L) climbed 2.3% and was one of the biggest gainers after Morgan Stanley upgraded the stock to "overweight". Inchcape (INCH.L) jumped 3.8% to the top of the index after the car dealership said its current-year earnings would beat market estimates. read moreThe FTSE 100 index (.FTSE) fell 0.4%, dragged down by heavyweight oil majors BP (BP.L) and Royal Dutch Shell (RDSa.L), and life insurers (.FTNMX303010). British retail sales fell unexpectedly by 1.4% last month as a lifting of lockdown restrictions encouraged spending in restaurants rather than shops, with food stores suffering the biggest hit.
Persons: Toby Melville, Morgan Stanley, James Smith, Devik Jain, Subhranshu Sahu Organizations: London Stock Exchange Group, City of, REUTERS, Rotork, BP, Royal, Shell, Tesco, Sainsbury, Morrisons, ING, U.S, U.S . Federal, Bank of England's, Ryanair, Wizz, HSBC, Aegon, Thomson Locations: City, City of London, Britain, U.S ., Bengaluru
India's Paytm seeks shareholder approval for $1.6 bln sale of new stock
  + stars: | 2021-06-18 | by ( Sankalp Phartiyal | ) www.reuters.com sentiment -0.99   time to read: +1 min
An advertisement of Paytm, a digital wallet company, is pictured at a road side stall in Kolkata, India, January 25, 2017. The company is aiming to raise $3 billion via the public listing on Indian bourses, a source familiar with the matter told Reuters. Launched a decade ago as a platform for mobile recharging, Paytm grew quickly after ride-hailing firm Uber listed it as a quick payment option. Paytm has since branched out into services including insurance and gold sales, movie and flight ticketing, and bank deposits and remittances. ($1 = 73.9025 Indian rupees)Reporting by Sankalp Phartiyal Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.
Persons: Paytm, China's Alibaba, Japan's SoftBank, Morgan Stanley, Goldman Sachs, Vijay Shekhar Sharma, Uber, Sankalp, Robert Birsel Organizations: REUTERS, Asian country's, Reuters, JPMorgan Chase, ICICI Securities, EGM, Thomson Locations: Kolkata, India, DELHI, Delhi
And the Wall Street bank even ordered staffers to divulge whether they've been vaccinated. Even more than other industries, Wall Street is clearly in a rush to turn the page on this extended era of virtual work. But it's much more pronounced on Wall Street, where the degree of competition has always been several levels above the rest." If Wall Street moves too aggressively, it could lose talent to more nimble yet equally lucrative industries like Silicon Valley. Of course, not all of Wall Street is rushing back to the office.
Persons: Morgan Stanley, James Gorman, Goldman Sachs, Slack, Mike Mayo, Marshall Sandman, WarnerMedia, Art Hogan, Hogan, Dennis Kelleher, Kelleher, Susan Gross Sholinsky, Epstein Becker Green, Sholinksy, JPMorgan Chase, Dan Suzuki, Richard Bernstein, Anthony Scaramucci, Brahm Pillai, Pillai, Ann Berry, it's, Berry, Sandman Organizations: CNN, Labor, Wells, Cornell, Credit Suisse, Wall, National Securities Corp, Better, Employers, JPMorgan, Richard, Richard Bernstein Advisors, SkyBridge, Wall Street, Goldman, CNN Business, Google, Hulu, Twitter Locations: York, Wells Fargo, Silicon Valley, New York, New York City
Sustainability investment isn't 'one size fits all': Morgan Stanley
  + stars: | 2021-06-18 | by ( ) www.cnbc.com sentiment -0.99   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSustainability investment isn't 'one size fits all': Morgan StanleyJessica Alsford, global head of sustainability research at Morgan Stanley, discusses investing in sustainability.
Persons: Morgan Stanley Jessica Alsford, Morgan Stanley Organizations: Sustainability
Morgan Stanley upgrades Occidental on higher oil prices, predicts 40% gain
  + stars: | 2021-06-18 | by ( Jesse Pound | ) www.cnbc.com sentiment -1.00   time to read: 1 min
Oil pump under the blue sky, beam pumping unit in the oil field, oil pump and water reflectionHigh oil prices and lower capital expenses should lead oil stocks to throw off cash, and investors should add a few winners from this sector, according to Morgan Stanley. While energy prices dipped on Thursday amid broad commodity weakness, the benchmark oil prices in the U.S. and Europe are still up about 80% over the past year. The industry has seen demand surge and reserves dwindle as economies reopen. Analyst Devin McDermott shuffled his ratings for energy stocks on Friday, upgrading Occidental Petroleum to overweight from equal weight and Marathon Oil to equal weight from underweight. McDermott said in a note to clients that these shifts were to gain more exposure to high oil prices in particular.
Persons: Morgan Stanley, Devin McDermott, McDermott Organizations: Occidental Petroleum, Oil Locations: U.S, Europe, Occidental
Acciona IPO wilts under green energy discount
  + stars: | 2021-06-18 | by ( ) www.reuters.com sentiment -1.00   time to read: +2 min
Acciona Windpower 1.5 MW wind turbine generators are seen on Tatanka Wind Farm as the coronavirus disease (COVID-19) outbreak continues in Brandt, South Dakota, U.S., October 27, 2020. REUTERS/Bing Guan - RC2DRJ9H7AMMLONDON, June 18 (Reuters Breakingviews) - Spain’s Acciona (ANA.MC) IPO has blown a fuse. That’s some 2 billion euros short of what deal advisors, including Citi, Morgan Stanley, JPMorgan and Goldman Sachs, had mooted . A selloff read more in green energy stocks since January forms part of the reason for the discount, as does the Entrecanales family’s continued control. Like its rivals, however, Acciona has an impressive track record and ambitious plans to nearly double its capacity to 20 gigawatts by 2025.
Persons: Bing Guan, Morgan Stanley, Goldman Sachs, Acciona, Christopher Thompson, JBS, Hong Kong, Jessica Alba’s, Ed Cropley, Katrina Hamlin Organizations: REUTERS, Reuters, Citi, JPMorgan, Locations: Brandt , South Dakota, U.S, Madrid, Hong, Frankfurt, SPAC
The three hires will be based in Baltimore: Cliff Booth is joining the firm as a managing director and the head of specialty finance investment banking. The three hires will be based in Baltimore: MUFG has promoted its deputy chief of corporate and investment banking to vice chairman of that business. Charlie Smith joined Stifel as a managing director in the firm's venture and fund banking group, the firm announced Tuesday. joined as a managing director in the firm's venture and fund banking group, the firm announced Tuesday. Fittipaldi was previously a managing director and head of FIG in Latin America for BNP Paribas.
Persons: Goldman Sachs, Liz Ewing, . Ewing, Stephen Scherr, Sherry Ann Mohan, Oppenheimer, Janney Montgomery Scott, Cliff Booth, Booth, JD Nelson, Nelson, Gilbert Dychiao, Mitchel Penn, John Parks, MUFG, Randall Chafetz, Masato Miyachi, Chafetz, Greg Weinberger, Morgan Stanley, Michael Carter, Carter, Cowen, Vincent Governara, Chris Taliercio, Charlie Smith, Stifel, Smith, Rodrigo Fittipaldi Rocha, Fittipaldi, Meredith Mazzilli, Carter Johnson, Reed Alexander, Aaron Weinman Organizations: intel, Marcus Digital Bank, Apple, JPMorgan, Janney, Credit Suisse, Wall Street, Truist Securities, RBC Capital Markets, FHN, Asset Management, California . Credit Suisse, BNP Locations: Baltimore, Atlanta, New York City, New York, York, California, California ., Brazil, America
Real estate market madness is everywhere
  + stars: | 2021-06-18 | by ( Julia Horowitz | Cnn Business | ) edition.cnn.com + 0.00   time to read: +6 min
A version of this story first appeared in CNN Business' Before the Bell newsletter. You can sign up right hereLondon (CNN Business) Low inventory and surging demand have sent house prices soaring around the world , raising concerns about how long the red-hot market can be sustained. Real estate agents have told CNN Business about increasingly rabid methods clients have deployed to secure properties — from bidding $1 million over the asking price to paying a competing bidder hundreds of thousands of dollars just to walk away. This just in: Online real estate broker Redfin said houses were on the market in May for just 16 days on average, a record low. SIFMA, the lobby group for the US securities industry, tweeted Thursday that it wouldn't recommend a market holiday this year, since Juneteenth falls on a Saturday.
Persons: It's, Redfin, Niraj Shah, LEN, Matt Egan, Morgan Stanley, James Gorman, Goldman Sachs, they've, Slack, Mike Mayo, scrambles, Juneteenth, Joe Biden, Martin Luther King Jr, George Floyd's, Abraham Lincoln's, Chauncey Alcorn, Chipotle Organizations: CNN Business, Bell, CNN, Monetary, Oxford Economics, National Association of Realtors, Housing, Bloomberg Intelligence, Federal, Oxford, Labor, Bank of America, Wells, Juneteenth, Federal Reserve, Bloomberg, Amazon, Apple, Starbucks Locations: London, United States, Colorado Springs, Miami, Wells Fargo, Washington, Juneteenth, Galveston , Texas
Morgan Stanley says Facebook is a top stock pick
  + stars: | 2021-06-18 | by ( Jessica Bursztynsky | ) www.cnbc.com + 0.97   time to read: +1 min
Morgan Stanley analysts said in a Friday note that Facebook remains the top pick among large cap social media stocks, with its investments and monetization efforts offsetting any near-term engagement drop-offs as the pandemic nears an end. Morgan Stanley also sees Facebook driving ad growth, helping the social media giant navigate through near-term engagement headwinds. "We also note that even a slight increase in News Feed ad load could offset any engagement decline. As Covid-19 pandemic restrictions lift, people are likely to be spending less time on social media. The firm said lower social media use and engagement leads to the increasing importance of innovation and ad pricing/ROI.
Persons: Morgan Stanley Organizations: Facebook, CNBC, YouTube
Under the scheme, the BOJ will provide funds to financial institutions that increase loans and investment for activities aimed at combating climate change. “It is also jumping on the band-wagon of the rising tide among central banks towards linking monetary policy to climate change,” she said. “By creating this scheme, we can respond flexibly to changes in the external environment regarding climate change,” he said. It has been affected heavily by climate change, with heavy rain and floods causing many casualties almost annually. On Friday, Sumitomo Corp’s shareholders defeated a resolution requiring the Japanese trading house to align its business with international targets on climate change.
Persons: Kim Kyung, Haruhiko Kuroda, , Naomi Muguruma, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Kuroda, ” Kuroda, there’s Organizations: Bank of Japan, REUTERS, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, Sumitomo Locations: TOKYO, Tokyo, Japan, United States
Sorry, that doesn’t work,” Gorman said. Sorry, that doesn’t work,” Gorman said. At a CEO summit last month, Jamie Dimon of JPMorgan Chase said remote work "doesn’t work for those who want to hustle. It doesn’t work for spontaneous idea generation. It doesn’t work for culture,” he told a Wall Street Journal online conference.
Persons: James Gorman, Morgan Stanley, , , Gorman, I’ll, haven’t, ” Gorman, David Solomon, Goldman Sachs, Jamie Dimon, Sundar Pichai, Mark Zuckerberg Organizations: Labor, New, JPMorgan Chase, Wall Street, Business, Facebook Locations: New York City, U.S, New York, Colorado
Ford to buy EV charging management platform Electriphi
  + stars: | 2021-06-17 | by ( ) www.reuters.com + 0.65   time to read: +1 min
The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid/File PhotoJune 17 (Reuters) - Ford Motor Co (F.N) said on Thursday it would acquire Electriphi, which provides charging management and fleet monitoring software for electric vehicles, as the carmaker aims to electrify 40% of its automobiles by 2030. California-based Electriphi's platform helps track the real-time status of vehicles, chargers and maintenance services, besides providing fleet electrification. Electriphi's charging management platform will be a part of Ford Pro, the automaker's new stand-alone unit to focus exclusively on commercial and government customers. "By adding Electriphi's existing advanced technology to the Ford Pro electric vehicles and services offering, we can enhance the commercial customer experience and become a single-source solution for fleet depot charging challenges," said chief executive of Ford Pro, Ted Cannis.
Persons: Brendan McDermid, Ted Cannis, Morgan Stanley, Shreyasee Raj, Ramakrishnan M Organizations: North American, REUTERS, Ford Motor, Ford, Ford Pro, Thomson Locations: Detroit , Michigan, U.S, California, Dearborn , Michigan, Bengaluru
Danaher to buy Moderna supplier Aldevron for about $9.6 billion
  + stars: | 2021-06-17 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
(Reuters) -Medical equipment maker Danaher Corp said on Thursday it would buy privately held biotech company Aldevron in an all-cash deal for about $9.6 billion, snapping up a supplier to COVID-19 vaccine maker Moderna Inc.U.S.-based Aldevron has a contract to supply Moderna plasmid DNA required to make the drugmaker’s mRNA vaccine, which has been authorized for use in more than 40 countries including the United States. Danaher also has an agreement with the U.S. government to expand the manufacturing of products needed to make COVID-19 vaccines. Aldevron, majority owned by Swedish fund EQT, also produces mRNA and proteins for biotechnology and pharmaceutical customers across research, clinical and commercial fields. North Dakota-headquartered Aldevron, which has about 600 employees, will operate as a standalone company within its Life Sciences segment, Danaher said. Danaher said it expects to finance the deal using cash on hand and/or proceeds from issuing commercial paper.
Persons: Danaher Corp, Aldevron, Danaher, Morgan Stanley, Simpson Thacher, Bartlett Organizations: Reuters, Danaher, Moderna Inc, U.S, Sciences Locations: United States, North Dakota
China's Didi adds banks to work on mega U.S. IPO, sources say
  + stars: | 2021-06-17 | by ( Scott Murdoch | ) www.reuters.com sentiment -0.99   time to read: +1 min
(Corrects spelling of company name in paragraph 1)FILE PHOTO: A Didi logo is seen at the headquarters of Didi Chuxing in Beijing, China November 20, 2020. REUTERS/Florence Lo/File PhotoHONG KONG (Reuters) - China’s biggest ride-hailing company Didi Chuxing has appointed five more investment banks to work as book runners on its U.S initial public offering (IPO) worth up to $10 billion, sources with direct knowledge of the matter said. Reuters reported on Thursday that China’s market regulator had begun an antitrust probe into Didi, three people with knowledge of the matter said. Reuters previously reported Didi could raise up to $10 billion in an IPO that would value the firm at up to $100 billion. At that size, it would be the largest IPO by a Chinese company in the United States since Alibaba raised $25 billion 2014.
Persons: Didi Chuxing, Florence, Didi, Goldman Sachs, Morgan Stanley, Alibaba Organizations: REUTERS, KONG, Reuters, Bank of America, Barclays, China International Capital Corp, Citigroup, HSBC Holdings, CICC, HSBC, JPMorgan, U.S . Securities, Exchange Commission, SEC Locations: Beijing, China, United States
Mister Car Wash aims for over $5 billion valuation in U.S. IPO
  + stars: | 2021-06-17 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: 1 min
(Reuters) -Mister Car Wash Inc is looking to raise as much as $638 million through a U.S. initial public offering, targeting a valuation of more than $5 billion, a regulatory filing on Thursday showed. The Tucson, Arizona-based company is offering 37.5 million shares priced between $15 and $17 per share. It has applied to list its shares on the New York Stock Exchange under the ticker symbol “MCW”. Founded in 1996, Mister Car Wash operates 344 car washes across 21 states and reported net revenue of $595 million for the twelve months ended March 31, the filing showed. BofA Securities, Morgan Stanley, Goldman Sachs and Jefferies are the lead underwriters for the offering.
Persons: Leonard Green, Morgan Stanley, Goldman Sachs, Jefferies Organizations: Reuters, U.S, New York Stock Exchange, MCW ”, Partners, Securities, underwriters Locations: Tucson , Arizona
Fintech firm Wise announces plans for direct listing in London
  + stars: | 2021-06-17 | by ( Reuters Staff | ) www.reuters.com + 1.00   time to read: 1 min
LONDON, June 17 (Reuters) - British fintech firm Wise said on Thursday it will go public in London in what will be the first direct listing of a technology company on the London Stock Exchange. The payments app, formerly known as TransferWise, said it has been profitable since 2017, with a 54% revenue growth rate over last three years reaching 421 million pounds in overall revenues in 2021. Goldman Sachs and Morgan Stanley are working on the listing. (Reporting By Pamela Barbaglia Editing by Rachel Armstrong)
Persons: Wise, Goldman Sachs, Morgan Stanley, Pamela Barbaglia, Rachel Armstrong Organizations: London Stock Exchange Locations: London
Ethereum is outperforming bitcoin. Morgan Stanley thinks it knows why
  + stars: | 2021-06-17 | by ( Sam Shead | ) www.cnbc.com sentiment -0.91   time to read: +1 min
In 2021, bitcoin and ether have seen huge rallies. Cryptocurrency ethereum has outperformed bitcoin so far this year, and Morgan Stanley has given a number of reasons why. The "alternative" crypto coin is up around 240% this year, while the world's best-known cryptocurrency is up less than 38%. It's important to note that ether's market cap is less than half that of bitcoin's, but trading volumes for the smaller coin surged to $600 billion in May — 60% higher than bitcoin volumes, according to Morgan Stanley. There are some key reasons for the outperformance of ether, according to the investment bank, which updated its views on crypto in a note last week.
Persons: Cryptocurrency ethereum, Morgan Stanley, It's, bitcoin
Australia’s big boozy spinoff gauges ESG’s S value
  + stars: | 2021-06-17 | by ( ) www.reuters.com + 0.00   time to read: +3 min
Australia's Foster's Group has rejected a A$9.5 billion ($10.1 billion) cash takeover offer from global brewing giant SABMiller as too low, offering only a slim premium for Australia's largest brewer. REUTERS/Tim WimborneMELBOURNE, June 17 (Reuters Breakingviews) - Woolworths (WOW.AX) is about to provide a closer look at ESG shopping lists. This Friday, shareholders will vote on the A$55 billion ($43 billion) Australian supermarket chain’s 2019 proposal to carve out its alcohol retailers and pubs. How Woolworths and Endeavour fare once apart might give new meaning to the benefits of social distancing. Follow @jgfarb on TwitterCONTEXT NEWS- Woolworths shareholders are scheduled to vote on June 18 on the proposed demerger of Endeavour, the company’s alcohol retailers and pubs business.
Persons: Australia's, Tim Wimborne, Dan Murphy’s, sprucing, Morgan Stanley, Endeavour, Antony Currie, Katrina Hamlin Organizations: Occidental, Australia's Foster's, REUTERS, Reuters, Woolworths, Coles, Macquarie analysts, Endeavour Locations: Sydney, Tim Wimborne MELBOURNE, Independence, Darwin
Fintech firm Wise to list directly on London's stock market
  + stars: | 2021-06-17 | by ( Pamela Barbaglia | ) www.reuters.com + 0.00   time to read: +2 min
The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File PhotoLONDON, June 17 (Reuters) - British fintech firm Wise said on Thursday it plans to go public in London in what will be the first direct listing of a technology company on the London Stock Exchange. The move comes amid tough market conditions in what has been a volatile year for stock market listings in Europe, with at least two initial public offerings (IPO) cancelled in recent weeks. In London, IPOs from Deliveroo and Alphawave both tanked on their stock market debuts, and are trading well below their listing prices. "Wise is used to challenging convention, and this listing is no exception," said co-founder and CEO Kristo Käärmann.
Persons: Toby Melville, Wise, Kristo Käärmann, Hinrikus, Goldman Sachs, Morgan Stanley, Pamela Barbaglia, Rachel Armstrong Organizations: London Stock Exchange Group, City of, REUTERS, London Stock Exchange, Käärmann, Deloitte, Skype, Barclays, Thomson Locations: City, City of London, Britain, London, British, Europe, Deliveroo, Estonian, United States
Why Morgan Stanley's Slimmon thinks markets will 'do just fine this year'
  + stars: | 2021-06-17 | by ( ) www.cnbc.com sentiment -0.98   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy Morgan Stanley's Slimmon thinks markets will 'do just fine this year'Andrew Slimmon of Morgan Stanley weighs in on the latest Fed policy meeting in which the central bank raised inflation expectations. He says he believes the U.S. Federal Reserve "is still on the side of accommodation."
Persons: Morgan Stanley's, Andrew Slimmon, Morgan Stanley Organizations: U.S . Federal
Credit Suisse impasse makes Deutsche’s look easy
  + stars: | 2021-06-17 | by ( Liam Proud | ) www.reuters.com + 0.00   time to read: +4 min
Like the German lender in the years after 2016, Credit Suisse has had to raise capital and is losing bankers. That said, $25 billion Credit Suisse has a highly profitable wealth management franchise to fall back on, and its survival is not in doubt. Little wonder less than one-fifth of Credit Suisse’s investment bank revenue is directly related to the main wealth division, according to Bank of America. Horta-Osório doesn’t have to fret about Credit Suisse going bust. Follow @liamwardproud on TwitterCONTEXT NEWS- Morgan Stanley has hired senior Credit Suisse investment banker Greg Weinberger, according to June 16 press reports.
Persons: Antonio Horta, Osorio, Stefan Wermuth LONDON, António Horta, Greg Weinberger, Morgan Stanley, multimillionaires, Osório, Weinberger, Armando Rubio, Alvarez, George Hay, Katrina Hamlin Organizations: Lloyds, Chambers of Commerce, REUTERS, Reuters, Credit Suisse, Suisse, Greensill Capital, Archegos Capital Management, Deutsche righted, Credit, Bank of America, Suisse’s, Bloomberg, Jefferies Locations: London, Horta, Osório, Europe, Asia, Zurich, East, Africa
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