MARKETS - Page 14

Capital One, a U.S. consumer bank supported by Warren Buffett, is set to acquire Discover Financial Services in an all-stock deal valued at $35.3 billion. This move marks a strategic expansion for one of the country’s leading credit card issuers, creating a global payments powerhouse. Under the terms of the deal, Discover shareholders will receive 1.0192 Capital One shares for each of their existing units. At closing, Capital One shareholders will own 60% of the combined company, and Discover shareholders

Australian diversified investor Seven Group Holdings (SVW.AX), headed by billionaire Kerry Stokes and his family, has offered a big chunk of its multi-brand empire in a bid for complete control of building products group maker Boral. The company already owns nearly 72% of Boral, and the bid launched on Monday is designed to mop up the rest of the company. Seven has backed its offer with both carrots and sticks. It will offer a minimum of A$6.05 per share in

On Friday, Coinbase witnessed a surge in its shares, approaching a two-year high, following the crypto exchange’s announcement of its first quarterly profit since 2021. The positive financial outcome was attributed to a significant increase in trading volume leading up to the approval of spot bitcoin exchange-traded funds (ETFs). Experiencing a 14% rally, the stock reached $189.28, contributing over $5 billion to the company’s market value. Investor interest in popular crypto tokens such as bitcoin rose since the second half

The final obstacles to a two-year-old agreement facilitating the public listing of Donald Trump’s media start-up have been successfully navigated by the U.S. Securities and Exchange Commission. This development holds the potential to significantly enhance Trump’s financial standing, with potential gains reaching as high as $10 billion. The SEC’s blessing of the merger between Trump Media & Technology Group and a blank-check acquisition vehicle means the company can now ask shareholders to back the deal. According to a filing by

Scores of investors tuned into TV manufacturer Vizio’s stock on Tuesday following reports that the company is a potential acquisition target. The shares traded up nearly 24% on the day, contrasting the 1.4% slump of the S&P 500 index. An article published that day by The Wall Street Journal stated that retail giant Walmart is in talks to buy the company for more than $2 billion. Quoting unidentified “people familiar with the matter,” the financial newspaper said the discussions center

According to the Nikkei business daily’s report on Wednesday, the collaboration between Japan’s Sony Group and Honda Motor is planning to launch three electric vehicle (EV) models by the latter half of this decade, aiming to rival Tesla. The newly established entity, named Sony Honda Mobility, is expected to unveil a sedan in 2025, followed by a sports utility vehicle in 2027, and a compact model in 2028 or later. The objective is to secure a share in the rapidly

Following an extended holiday weekend, Japan’s Nikkei share average concluded at a new 34-year peak on Tuesday, propelled by strong corporate earnings and gains in tech-related stocks. At one juncture, the Nikkei surged by up to 400 points, reaching almost 37,000, marking its highest level since February 1990. Notably, it had achieved a fresh 33-year high just the day before on Monday. A weaker yen is a crucial driver of the rally, as it makes Japanese exports more competitive and

Venture capital firm Founders Fund, founded by billionaire Peter Thiel and known for its early investments in companies like PayPal Holdings Inc (PYPL) and Facebook Inc (FB), has made a big bet in cryptocurrency markets. The company has invested $200 million to acquire crypto tokens, half in bitcoin and the other half in ether, the two largest cryptocurrencies. The investment, whose average purchase price was not disclosed, signals a resurgence of interest in the sector among major institutional investors following

In a company filing on Friday, it was disclosed that Jeff Bezos, the founder of Amazon, divested approximately 12 million shares of the online retail and cloud services company, generating approximately $2 billion. The transactions occurred on Wednesday and Thursday, as outlined in the filings. Bezos, the CEO of rocket venture Blue Origin, has launched a $10 billion fund to fight climate change. He often sells Amazon shares yearly to give liquidity to his other ventures. In November, he laid

Over the past four years, Bank of America has secured $10.5 billion in deposits and investments through agreements with various companies, offering financial services to their employees. Since its launch in 2020, BofA’s employee benefits and investing program has attracted over 450 corporate and commercial clients. Aron Levine, BofA’s president of preferred banking, anticipates adding 50 more companies to join the program by mid-year. The program offers a full suite of workplace financial solutions and services designed to meet corporate