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Banking

Global banks forecast improved investment banking outlook

A street sign for Wall Street hangs in front of the New York Stock Exchange May 8, 2013. REUTERS/Lucas Jackson/File Photo Acquire Licensing RightsNEW YORK, Dec 5 (Reuters) - Global bank executives said that dealmaking conditions have begun to improve, with some predicting a better outlook for strategic mergers and acquisitions at an industry event on Tuesday.Both M&A activity and initial public offerings (IPOs) faltered last year after Russia's invasion of Ukraine and the U.S. Federal Reserve's aggressive rate hikes to tame inflation."The M&A deals are coming a little faster,"...
Banking

US investment banks see early signs of revival in dealmaking

Peter Orszag, CEO of Financial Advisory, Lazard, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsNEW YORK, Oct 27 (Reuters) - Major Wall Street firms said a dismal year of dealmaking appears to have hit a trough, and now some companies are looking to merge, offering hope that investment banking revenues could pick up after a disappointing third quarter.Dealogic data showed that globally, investment banking revenue tumbled 16% in the third quarter from a year earlier. But...
Funds

Small funds eyeing big gains pile on Venezuela debt

Vendors prepare products at a store painted with Venezuelan and U.S. flags in Maracaibo September 12, 2008. REUTERS/Isaac Urrutia/File PhotoCARACAS/MADRID/NEW YORK, June 15 (Reuters) - Small funds and investors outside the United States are looking to increase their exposure to Venezuelan bonds, on the expectation of debt renegotiations or of legal action tied to a looming expiry of repayment rights, investors and four financial sector sources said.Many of the bonds are trading at pennies on the dollar after a default in 2017, compounded by 2018 sanctions from Washington that barred...
Pension

Bunge, Viterra will merge to form $34 billion agri-trading powerhouse

CHICAGO, June 13 (Reuters) - U.S. grains merchant Bunge (BG.N) and Glencore-backed (GLEN.L) Viterra are merging to create an agricultural trading giant worth about $34 billion including debt, the companies said on Tuesday, in a deal that will likely draw close regulatory scrutiny.The deal brings the combined company closer in global scale to leading rivals Archer-Daniels-Midland (ADM.N) and Cargill (CARG.UL), valuing Bunge and Viterra at about $17 billion each. Bunge shareholders, however, will own about 70% of the company, because Bunge will pay for a significant chunk of the deal...
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