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Funds

Dealmakers see rebound after US activity buoys global M&A volumes

NEW YORK, Sept 29 (Reuters) - Mergers and acquisitions activity globally showed few signs of improvement but a rebound in volumes in the United States - the world's biggest investment banking market - gave dealmakers hope of a sustained recovery in the near term.The total quarterly value of M&A fell slightly to $717.4 billion by September 28, according to data from Dealogic, from $738.1 billion last year during the same period.During the third quarter, U.S. dealmaking contributed to a larger-than-usual share of global activity and offset a decline in volumes...
Funds

US investors want clarity on Biden’s vague curbs on China tech

WASHINGTON/NEW YORK, Sept 27 (Reuters) - U.S. financial firms are pushing for greater clarity on proposed new rules curbing U.S. investments in some China technology sectors which they say are too vague and put the onus of compliance on investors.Aiming to protect national security and prevent U.S. capital from aiding China's military, President Joe Biden issued an executive order last month restricting new U.S. investments in sensitive Chinese technologies. The Treasury Department subsequently kicked off a rule-making process to implement the order, and financial firms have been rushing to meet...
Finance

EU court says $748 million Belgian tax scheme is illegal state aid

BRUSSELS, Sept 20 (Reuters) - European Union's second-top court on Wednesday backed an EU competition regulator's decision against a 700-million-euro ($748 million) Belgian tax scheme for 55 multinationals, in a major win for EU antitrust chief's crackdown on sweetheart tax deals.The Luxembourg-based General Court had in 2019 annulled Margrethe Vestager's decision after Belgium and about 30 of the companies challenged it.Beneficiaries of the Belgian scheme that dated from 2005 included U.S. manufacturer Magnetrol, oil company BP (BP.L), chemical producer BASF (BASFn.DE), Wabco, Cellio, Atlas Copco (ATCOa.ST) and Belgacom, now Proximus...
Banking

More SE Asia firms consider U.S. IPOs, filling void left by China peers

At least four Southeast Asia firms considering U.S. IPOsU.S. IPOs by Chinese firms slumped - LSEG dataSINGAPORE/SYDNEY, Sept 19 (Reuters) - Several Southeast Asian companies are considering listing in the United States, banking on strong investor appetite for emerging market growth in the absence of Chinese stock offerings.Senior executives in leading SME digital financing platform Funding Societies, Singapore-based entertainment firm Gushcloud International and Thai insurance technology firm Sunday told Reuters they were looking into New York as one of their initial public offering (IPO) venues.This comes on top of recently...
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