Wed.Jun 26, 2024

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Nubank acquires AI-for-banks startup Hyperplane

TechCrunch: M&A

Hyperplane focused on allowing banks to train their own models to power tools across their risk, collections and marketing departments. © 2024 TechCrunch. All rights reserved. For personal use only.

Bank 266
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Proposed "Outbound Investment" Regulations Target Transactions Involving PRC Semiconductor, Quantum, and AI Businesses

JD Supra: Mergers

New Regulations Will Require Additional Diligence for a Broad Array of Transactions, Including Many Investments in U.S. and Global Businesses - On June 21, 2024, the U.S. Treasury Department (Treasury) issued a Notice of Proposed Rulemaking (NPRM) to implement the “Outbound Investment” Security Program. This program was mandated by President Biden’s Executive Order on August 9, 2023.

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No, Delaware Judges Aren’t “Sending Companies Packing” for Texas

Deal Lawyers

The Hill recently published an opinion piece by a Texas lawyer who breathlessly announced that Delaware’s “activist judges” were “sending companies packing for states like Texas.” As UCLA law professor Stephen Bainbridge points out in his blog, that’s just not the case: In total, there are almost 400,000 companies incorporated in Delaware.

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“Magnificent Seven” ride again as AI spurs rise in US tech M&A

JD Supra: Mergers

Dealmaking makes a comeback as tech giants battle for dominance in artificial intelligence - Dealmakers in the technology sector have battled headwinds over the past few years. Global deal value sank to US$456.6 billion in 2023—a six-year low. A combination of prolonged market volatility, stubbornly high interest rates, heightened regulatory scrutiny and plunging valuations all dampened dealmaking.

M&A 167
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15 Modern Use Cases for Enterprise Business Intelligence

Large enterprises face unique challenges in optimizing their Business Intelligence (BI) output due to the sheer scale and complexity of their operations. Unlike smaller organizations, where basic BI features and simple dashboards might suffice, enterprises must manage vast amounts of data from diverse sources. What are the top modern BI use cases for enterprise businesses to help you get a leg up on the competition?

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CME Group expands Google Cloud partnership to launch new futures and options platform

The TRADE

CME Group has enhanced its partnership with Google Cloud as it plans for a new private cloud region and co-location facility in Illinois aimed at bolstering its markets offering for futures and options. Terry Duffy The plan is to build a new private Google Cloud region to support CME Group’s global trading, offering derivatives traders access to “cloud-based, ultra-low-latency networking and high-performance computing”.

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Beyond the Data: Hedge funds loving their algos more than ever before

The TRADE

The past year has seen vast improvement across the algorithmic trading space when it came to hedge funds’ strategies, new data from The TRADE has found. In fact, overall, 2024 has proved to be a banner year for algorithmic trading providers, with the overall rating for performance sitting at 5.86 – significantly higher than 2023 and demonstrating the highest survey average from hedge fund respondents since we began tracking their results separately in 2016.

Funds 113
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Insights: The Delaware Edition - June 2024

JD Supra: Mergers

In this issue, we discuss Delaware court developments, including the first-ever dismissal of a SPAC disclosure complaint, as well as rulings pertaining to financial advisor conflict and disclosure law, state laws involving controllers and Caremark claims.

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What Rivian's venture with Volkswagen means for the EV maker, broader auto industry

CNBC: Investing

Rivian's latest partnership with Volkswagen could prove a major boon for investors and the broader auto industry, according to some Wall Street analysts.

Investors 119
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Recent Updates in Delaware Disclosure Law

JD Supra: Mergers

The Delaware Supreme Court recently issued two opinions weighing in on the scope of disclosures involving board advisors in connection with M&A transactions that warrant close attention. In both rulings — each written en banc — the Delaware Supreme Court reversed the lower courts’ dismissals of all claims because (among other reasons) certain material information about the target companies’ advisors was not disclosed.

M&A 161
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Top 3 Banking Secrets to Stay Relevant with Gen Z Consumers

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

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JPMorgan upgrades Campbell Soup, saying its recently-acquired Rao's sauce business is thriving

CNBC: Investing

The bank now has an overweight recommendation on the stock for the first time since 2009.

Business 133
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Under Control: Recent Delaware Decisions on Controller Transactions, Standards of Review and Disclosure Obligations

JD Supra: Mergers

The first half of 2024 has been a watershed moment for the development of controller law in the Delaware courts. Among the highlights, the Delaware Supreme Court reexamined and confirmed that transactions involving a conflicted controller will invoke entire fairness review, and that the MFW framework is the only method in that context to secure business judgment review.

Business 161
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Apple shares will rally to $260 as company beats Android in AI race, Rosenblatt says

CNBC: Investing

Rosenblatt sees Apple edging out its competitors in the AI race due to its strong privacy features.

Shares 93
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Challenging Exit and Debt Conditions Prompt Financial Sponsors To Adopt Workarounds

JD Supra: Mergers

The challenges facing financial sponsors in the past couple of years have been widely discussed. Their funds have amassed over $1 trillion in dry powder that they are competing to deploy in a weak exit market.

Debt 130
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Enhance Customer Value: Unleash Your Data’s Potential

The complexity of financial data, the need for real-time insight, and the demand for user-friendly visualizations can seem daunting when it comes to analytics - but there is an easier way. With Logi Symphony, we aim to turn these challenges into opportunities. Our platform empowers you to seamlessly integrate advanced data analytics, generative AI, data visualization, and pixel-perfect reporting into your applications, transforming raw data into actionable insights.

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EIB Group support for EU businesses: Evidence of impact in addressing market failures

European Investment Bank

The European Union's economic vitality heavily relies on small and medium-sized enterprises (SMEs), which drive innovation, productivity, and strategic technology dissemination. Despite their importance, SMEs face significant challenges, particularly in accessing finance, which limits their growth potential. Startups and scale-ups, crucial for economic dynamism, also struggle with funding, market access, and talent acquisition.

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UK Competition and Markets Authority Receives Enhanced Merger Control and Enforcement Powers

JD Supra: Mergers

The Digital Markets, Competition and Consumers Act (DMCC), which became law on 24 May 2024, represents a major shift in UK digital, competition and consumer protection regulation.

Mergers 128
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Your 401(k) is up, and a new report shows increased savings. But Americans need to do more

CNBC: Investing

Returns are up and people are saving more. But account balances for the median 401(k) are too low and Americans are still very reliant on Social Security.

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SPAC 4.0: Takeaways from the 2024 SPAC Conference

JD Supra: Mergers

On June 11 and 12, I had the pleasure of attending and speaking at another SPAC conference organized by DealFlow Events. This annual event has drawn the who’s who in the SPAC world for many years. My goal in attending this conference, aside from seeing all of my SPAC colleagues and friends and meeting new SPAC market participants, is to get a feel for current problems and speed bumps in the SPAC market and to get involved in discussions on how best to approach and solve those problems.

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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.

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Here's what's next for bitcoin after the cryptocurrency returned to $60,000 this week

CNBC: Investing

Bitcoin is testing a key level once again after the cryptocurrency fell below $60,000 this week for the first time since May 3.

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Expert Series Q&A: Joe Corsello, Euclid Transactional

JD Supra: Mergers

Joe Corsello, Associate General Counsel & Managing Director, Claims for Euclid Transactional, shares his insights on pivoting from litigation to reps and warranties insurance, opportunities for those seeking a career in the industry, and current trends Euclid Transactional is exploring. Read more in this Expert Series Q&A with StoneTurn Managing Director Chris McIndoe.

Insurance 119
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The AI Revolution and Critical Infrastructure

Cisco: M&A

AI is changing the way we engage data in industrial operations, and choosing the right model for your desired result is critically important.

Utilities 102
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Fourth Circuit Grants Emergency Injunction of Sale of Two North Carolina Hospitals, Deal Collapses

JD Supra: Mergers

On June 18, 2024, the Fourth Circuit issued a 2-1 decision granting the FTC’s request to block the sale of two hospitals in Charlotte, North Carolina. Earlier this month, a federal court in the Western District of North Carolina declined to issue a preliminary injunction to block the proposed transaction.

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Deliver Mission Critical Insights in Real Time with Data & Analytics

In the fast-moving manufacturing sector, delivering mission-critical data insights to empower your end users or customers can be a challenge. Traditional BI tools can be cumbersome and difficult to integrate - but it doesn't have to be this way. Logi Symphony offers a powerful and user-friendly solution, allowing you to seamlessly embed self-service analytics, generative AI, data visualization, and pixel-perfect reporting directly into your applications.

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Deliveroo shares rise after reported takeover interest from US rival

The Guardian: Mergers & Acquisitions

Potential tie-up with meal-delivery firm Doordash was reportedly discussed but rejected in May Shares in the UK food delivery company Deliveroo have risen after reports that US rival Doordash held takeover talks with the business, with analysts suggesting other bidders could come forward in the coming weeks. The US meal delivery group Doordash flagged an interest in a takeover of Britain’s Deliveroo last month, but talks ended because the two sides could not agree on the value of the deal, Reute

Shares 70
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Securing the Foundation: Optimizing Governmental Critical Infrastructure

Cisco: M&A

Learn how to make government services strong and adaptable with our key strategies from Cisco Live 2024 – watch the replay now! Learn how to make government services strong and adaptable with our key strategies from Cisco Live 2024 – watch the replay now!

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Banks Could Weather Even Extreme Economic Tumult, Fed Finds

The New York Times: Banking

The Federal Reserve for the first time tested major banks’ ability to withstand crisis scenarios — and the largest U.S. lenders stood tall.

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Rightworks expands leadership position in cloud and security solutions with acquisition of Practice Protect

Global Newswire by Notified: M&A

Rightworks acquisition of Practice Protect will enable firms to access internal and client-side cloud and desktop applications easily in one secure space.

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Using Data & Analytics for Improving Healthcare Innovation and Outcomes

In the rapidly evolving healthcare industry, delivering data insights to end users or customers can be a significant challenge for product managers, product owners, and application team developers. The complexity of healthcare data, the need for real-time analytics, and the demand for user-friendly interfaces can often seem overwhelming. But with Logi Symphony, these challenges become opportunities.

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Nokia sells submarine networks business ASN to French state

Global Banking & Finance

Nokia sells submarine networks business ASN to French state COPENHAGEN (Reuters) – Nokia on Thursday said it had agreed to sell its submarine networks business ASN to the French state for 350 million euros ($374 million), but that the deal would not impact its financial outlook.

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OV Entertainment Group Acquires Brazilian Studio Kokku Games and Argentinian Studio 3OGS

Global Newswire by Notified: M&A

Merging Kokku’s co-development expertise and 3OGS engineering and porting talents under one roof Merging Kokku’s co-development expertise and 3OGS engineering and porting talents under one roof

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SoftBank to invest in search startup Perplexity AI at $3 billion valuation, Bloomberg reports

Global Banking & Finance

SoftBank to invest in search startup Perplexity AI at $3 billion valuation, Bloomberg reports (Reuters) – Japanese technology investor SoftBank Group Corp’s Vision Fund 2 is investing between $10 million and $20 million in U.S. search startup Perplexity AI at a valuation of $3 billion, Bloomberg News reported on Thursday.