Artisan Partners is pushing back hard against Axalta Coating Systems’ plan to merge with AkzoNobel in an all-stock deal creating a $25 billion paint industry giant. In a letter to shareholders, fund managers Daniel O’Keefe and Michael McKinnon wrote: “The only proper response to this proposed transaction is an absolute and resounding ‘NO.’” They added...
The Financial Stability Board (FSB) has warned G20 leaders that the rapid growth of private credit markets and stablecoins now requires intensified global oversight, ahead of next week’s summit in South Africa. In a letter published Thursday, FSB Chair Andrew Bailey urged leaders to “modernise and strengthen” financial regulation without compromising stability. He highlighted the...
Crypto exchange Kraken has confidentially filed for a U.S. IPO, aiming to tap the newly active listings market ahead of the 2026 midterm elections, as digital asset firms race to go public under a crypto-friendly regulatory climate. The move follows Kraken’s latest fundraising, which valued the company at $20 billion — a 33% jump in...
Target reported a larger-than-expected 2.7% drop in comparable sales for Q3 and outlined a wide profit range for the holiday quarter as it cuts prices to attract cash-strapped U.S. consumers. Shares fell ~2%, extending a year-to-date decline of 35%. The results mark the first full quarter since incoming CEO Michael Fiddelke was appointed in August....
Short-selling partnership Gotham City Research and General Industrial Partners (GIP) disclosed a short position in Iron Mountain (IRM) on Wednesday, sending the REIT’s shares down 5% as of 15:55 GMT. According to founders Daniel Yu and Cyrus de Weck, Iron Mountain’s leveraged investments in data centers significantly exceed what the firm can sustainably fund with...
U.S. and Saudi officials showcased billions in new investments and deepening financial ties during the U.S.–Saudi Investment Forum in Washington, held alongside Crown Prince Mohammed bin Salman’s high-profile visit. CEOs from Chevron, Qualcomm, Cisco, Pfizer, General Dynamics, as well as senior leaders from Google, IBM, Salesforce, Adobe, Boeing, Aramco, Halliburton, State Street, and Andreessen Horowitz...