Wednesday, October 20, 2021
More

    Latest Posts

    FirstFT: Investment bank fees exceed $100bn on M&A boom

    Receive free world updates

    Good morning.This article is our onsite version FirstFT Newsletter.Sign up for us Asia, Europe / Africa Also Americas Edition to send directly to your inbox on weekday mornings

    How long have you been following this week’s news?Take us quiz..

    Investment bank Record totalFees surged to over $ 100 billion in the first nine months of the year, thanks to a surge in transactions.

    Wall Street’s top banks and top boutique advisors benefit from the M & A boom and the hot equity capital markets. Both prices are at their highest levels since the record began 20 years ago and reached $ 60.6 billion year-to-date, according to Refinitiv.

    Lenders also won $ 52 billion in underwriting loans and debt offerings in the first nine months of the year as companies rushed to fix low interest rates.

    Five US banks, led by JPMorgan Chase and Goldman Sachs, have the largest share of the $ 112.6 billion in fees earned this year. It is estimated that the two Wall Street lenders have collected a total fee of $ 18 billion.

    Thank you for reading FirstFT Europe / Africa. Have a great weekend.See you on monday — Jennifer

    5 more stories in the news

    1. UK “Autumn Storm” of shortages, costs and taxes Business leader warning As the government’s Covid-19 support program ends, the minister will talk about tax increases, rising costs, labor shortages and supply turmoil in the fall.

    2.2. Nancy Pelosi Drives Infrastructure Voting The speaker is Vote for or against President Joe Biden’s $ 1.2 trillion bipartisan infrastructure bill in the US House of Representatives yesterday, even if progressive lawmakers threatened to sink legislation.Congressman yesterday Avoid government closure With a short-term funding bill. (FT, Politico)

    3. Increased fear of stagflation Investors say oil is over $ 80 a barrel, global food prices are one-third higher than they were a year ago, and other commodities are the highest in 10 years. Inflation surges longer than expected Consistent with slowing growth — and exacerbating it.

    Line chart of annual consumer price inflation showing inflation rising faster than expected across advanced economies

    4. Zoom and Five 9 abandon $ 14.7 billion transaction Zoom Video Communications bids to buy cloud software providers Collapsed Just weeks after the US Department of Justice raised national security concerns about the transaction, shareholders were advised to vote against the acquisition by a strong proxy group.

    5. Cambridge Guidelines for Mitigating Overseas Engagement Risk Deputy Prime Minister Stephen Tuppe Announces Today Guidelines With students on navigating projects in working with countries that “do not share Britain’s commitment to democracy and the rule of law” in “increasing political tensions” after the university was accused of connecting with China For scholars.

    Coronavirus digest

    • Only one third of African countries By the end of September, 10% of the population had been completely vaccinated, according to the World Health Organization.

    • Share with Oxford Nanopore, Making devices to analyze Covid-19 variants, surge 40% or more After going public in London.

    • Manufacturing activities China Suffering from the first official contraction Since the pandemic began in the face of widespread power shortages.

    • Students Push back Against “YouTube” learning As the campus reopens.

    The day before

    Eurozone inflation Inflation in the euro area High price for the first time in 13 years In September, the resumption of the economy boosted energy costs and strong demand.Economists too weather Another rise in consumer prices in the same month. (FT, WSJ)

    Dubai World Expo After a year’s delay Dubai International Exposition 2020 It starts today. Participants must show evidence of vaccination or a negative Covid-19 test. This event is expected to be one of the biggest face-to-face events since the pandemic began. (Bloomberg)

    Hollywood strike vote Members of the International Alliance of Theatrical Film Theater cast Their ballot on whether 60,000 behind-the-scenes workers should overcome the claim that they can no longer earn a living wage.

    Will not you join October 7-8 Moral Money Summit AmericasDiscuss money, regulation, and how businesses act more responsibly.sign up here Receive the Moral Money Newsletter in your inbox.

    What else are you reading

    Taliban confronts reality Providing administrative services that Afghans have become accustomed to has been a difficult order since the Taliban’s takeover, during the economic collapse, withdrawal of Western financial support, and the outflow of expert managers. However, there is one popular service available under Islamists. Speedy justice..

    • Imran Khan’s Gambling: Pakistan Reestablishing position as a strategic bridge In Afghanistan for the world’s great powers. The question is whether the support for the Taliban will reward or unleash a new wave of Islamic extremists.

    Gordon Brown: Universal Credit cuts deepen UK inequality Boris Johnson is preparing to cut Universal Credit to £ 98 a week, so he and his cabinet need to consider what this means for dining at the table and heating family homes. .. £ 20 may not seem like much to many, but for a family at stake, it’s a lifeline. Former Prime Minister writes..

    Europe should not be a military force A stronger army will do more harm to the continent than good. Instead, you need to harness your strengths, from sanctions and diplomacy to soft power. I’m writing Simon Kuper.. In addition, if the goal is to save lives, Covid-19 reminds us that we should expand our important welfare state.

    Algorithms can guide decisions — if they work Life is full of difficult decisions. Who should I hire or should I fire? What grades should students get on the exam? An increasingly popular solution is to delegate these decisions to data-driven algorithms. However, many of them are trained in racist and sexist information, which shows that: Tim Harford writes..

    “Psychological richness” Returning to Japan Next week, Jemima Kelly will start slowly Great return to the office.. She’s a little nervous — it’s a daunting business of trying to focus on a busy news room, looking closely, and dealing with other people. But what she fears most is the “loss of well-being” she has felt in recent months.

    Reader reaction

    Thanks to the readers for their thoughts on the UK plan Shift green surcharge From household electricity bills to gas bills.

    “It makes perfect sense that there is no incentive to use electricity as the primary heating source. Even after considering the initial cost of gas boilers, it is much more expensive than gas.” — Lawrence Julius

    Remember that you can add FirstFT to myFT. You can also choose to receive FirstFT push notifications every morning in the app.Send recommendations and feedback to firstft@ft.com

    Recommended newsletter for you

    due diligence — Top story from the world of corporate finance.sign up here

    Moral money — Our must-see newsletter on socially responsible business, sustainable finance and more.sign up here

    FirstFT: Investment bank fees exceed $100bn on M&A boom Source link FirstFT: Investment bank fees exceed $100bn on M&A boom

    The post FirstFT: Investment bank fees exceed $100bn on M&A boom appeared first on California News Times.

    Source link

    Latest Posts

    Don't Miss

    Stay in touch

    To be updated with all the latest news, offers and special announcements.