Arkhouse chasing a Macy’s board majority LeapRate

February 21, 2024 BY Elizabeth Anderson

Arkhouse chasing a Macy’s board majority

After reviewing the offer, the current Macy’s board expressed concerns about financing solutions for the proposed takeover. The company reportedly approached the two investors about providing additional financing information. Macy’s said that instead of complying with its request, Arkhouse and Brigade sent a communication requesting a 10-day extension for board nominations. The Associated Press quoted…

February 21, 2024 BY Elizabeth Anderson

Gotham City Research takes aim at Grifols – again

The latest report focuses on the connections between Grifols and Scranton Enterprises NV, which has ties with the founders of the company. According to Reuters, Grifols rejected the claims in the report, labelling it as “malicious, false and misleading”. The company further said that these reports aim to destabilise Grifols, sowing seeds of doubt among…

February 20, 2024 BY Simon Mugo

US Banking Regulators Carry Out Health Checks After NYCB Stock Crash

The dialogues, as recounted by two bank executives, a legal expert, and an industry informant, focused on evaluating the banks' liquidity positions and examining if there were any notable shifts in deposit flows or customer concerns. Despite these inquiries, the bank leaders reported no significant anomalies in their operations, with one indicating that the interactions…

February 20, 2024 BY Simon Mugo

Discover Financial’s Stock Surges on $35Bn Capital One Merger Deal

Capital One's strategic acquisition of Discover's payments processing and settlement services network is seen as a move to diversify its payment processing partners, aiming for a $1.2 billion boost by 2027. This development has been viewed unfavourably for Visa and Mastercard, with their shares dropping 1.8% and over 2%, respectively, as analysts anticipate a competitive…

February 20, 2024 BY PureContent

Crypto ETFs see record $2.4bn weekly inflows

The products continue to receive billions of dollars in weekly inflows. The latest data from CoinShares reveals a record $2.45 bn was funnelled into crypto ETFs last week, with Bitcoin (BTC) constituting 99% of those funds. Consequently, BTC reached a yearly high of $52,868. Most appealing to investors was BlackRock's IShares Bitcoin ETF, which attracted…

February 20, 2024 BY Elizabeth Anderson

Hopes of an economic ‘soft landing’ evaporating

This higher-than-expected rise in inflation and the concurrent drop of sales during January 2024 showed no improvement in inflation or consumer strength. According to Yahoo Finance, Austan Goolsbee, the Chicago Federal Reserve president, advocated against unnecessary scepticism and said that one month’s CPI report will likely not rock the cradle and that inflation is clearly…

February 20, 2024 BY Elizabeth Anderson

Apple faces €500m fine over Spotify access

Apple also allegedly blocked firms such as Spotify from informing customers that they can get the service cheaper if they subscribe directly via the website. Apple faces a €500m fine should the EU find it guilty of infringing competition laws. The Guardian reported that Apple finds these fees reasonable as it provides apps with a…

February 20, 2024 BY PureContent

Weekly data: Gold and GBPUSD. What's the short-term outlook?

The most important economic data for this week: Tuesday: RBA meeting minutes at 12:30 AM GMT are anticipated by the market participants to give a glimpse of the short-term action plan of the Reserve Bank of Australia. More dovish commenting might be seen as a weakness of the Aussie Dollar, creating some minor push on…

February 19, 2024 BY Simon Mugo

Santander Unveils $1.57Bn Share Buyback, Ups Dividend Payout

The bank's shares saw a notable increase of 2.17% to 3.7530 euros in early trading at 0857 GMT, despite a year-to-date decline of 4.68% as of February 16. Santander outlined that the maximum share purchase price would be capped at 4.76 euros, and based on an assumed average price of 3.95 euros, it could acquire…

February 19, 2024 BY Simon Mugo

S&P 500 Full-Year Outlook Raised to 5,200 at Goldman Sachs

It was influenced by diminishing inflation and the anticipation of the Federal Reserve reducing interest rates within the year. On a recent Friday, Goldman Sachs predicted an 8% rise in profits for S&P 500 firms, driven by a more optimistic outlook for the U.S. economy and enhanced profit margins among the largest corporations. David Kostin,…