In a remarkable display of market strength, the Dow Jones Industrial Average (DJIA) soared by 329 points on Monday, November 11, 2024, driven predominantly by substantial gains in Salesforce Inc. and American Express Company stocks. This surge underscores the pivotal role these corporate giants play in influencing market dynamics. Salesforce’s meteoric rise Salesforce Inc. experienced […]
Indian IT giant Infosys has teamed up with Clearstream, the post-trade services arm of Deutsche Börse, to launch the second generation of the D7 platform. This enhanced digital platform aims to simplify the issuance and servicing of securities, setting a new benchmark for the digital transformation of the financial markets. Infosys Drives Digital Transformation for […]
In a significant move set to reshape Spain’s banking landscape, the European Central Bank (ECB) has given its much-anticipated approval to Banco Bilbao Vizcaya Argentaria’s (BBVA) takeover bid for Banco Sabadell. This green light from the ECB removes a significant regulatory hurdle, clearing the way for one of the largest mergers in the European banking […]
In a significant development in the Indian financial sector, the Hinduja Group has embarked on an ambitious Rs 4,300 crore initiative to acquire the bankrupt Anil Ambani-led Reliance Capital, indicating a robust move in the corporate recovery landscape. This follows the approval of IndusInd International Holdings’ (IIHL) resolution plan by the National Company Law Tribunal […]
State Bank of India (SBI), the nation’s premier lender, has successfully raised a substantial ₹10,000 crores through its sixth infrastructure bond issuance. Demonstrating a robust appetite from investors, the issue was oversubscribed by approximately 3.6 times the base issue size of ₹5,000 crores, with the bank receiving an overwhelming ₹18,145 crores in bids. The bonds, […]
In a significant expansion move, United Bankshares, Inc. (NASDAQ: UBSI), the parent company of United Bank, has announced a definitive merger agreement with Piedmont Bancorp, Inc., the parent company of The Piedmont Bank. The deal, which is set to enhance United’s position as the 39th largest banking entity in the U.S. based on market capitalization, […]
Apax Global Alpha (“AGA”), the reputable closed-ended investment company that facilitates access to Apax Private Equity Funds, has disclosed plans to invest approximately €36 million in Zellis Group. This investment, calculated on a look-through basis, aligns with AGA’s strategy of expanding its influence within the software industry, particularly in the HR and payroll sectors. On […]