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Bumper year for M&A
Capital Markets
  Cheap credit and strategic positioning in a slow-growth economy boosted global mergers and acquisition (M&A) activity in 2015 to a record high. The U.S. and Asia Pacific led the surge which garnered lucrative fees for top investment banks and compensated them for weak earnings from sales and trading. The value of announced deals amounted to $4.68 trillion, a 37%
Banking layoffs could unlock a gold mine of fintech talent in Hong Kong
Ask any fintech startup in Hong Kong to list the biggest barriers to growth and invariably you will find that issues over talent acquisition will rank fairly high on the list. But while startups are looking to grow their teams, the big banks are also trimming headcount. The issue of talent acquisition featured prominently at the recent Finnovasia: Future of
Bain Capital wagers on China fintech
Bain Capital is making a big bet on China's burgeoning fintech and healthcare sectors. The U.S. private equity firm has raised $3 billion to invest in Asia and intends to put it to work next year. "As China transitions to a more service-oriented economy and sectors such as fintech and health care become areas for growth, they will require capital
Will the Fed rate hike spell the end for overvalued startups?
Venture Capital
The writing has already been on the wall for the so-called unicorns for a while. While some can justify their billion-dollar valuations to public market investors, many cannot. The decline has already started, but the U.S. Federal Reserve’s quarter-point hike will no doubt speed up the oncoming cull. The Wall Street Journal reports that more than a dozen U.S. tech
Video: Danny Yong on how to be a successful fund manager
Hedge Funds
What does it take to be a successful hedge fund manager? Having the requisite skills for the job is obviously a massive plus, but in this four-year old interview, Dymon Asia Capital’s Danny Yong alludes to a few other things that aspiring fund managers seem to underestimate – having the drive to win, being naturally curious, and above all, having lady
Short selling advice Jean-Marie Eveillard , Bill Ackman
Asset Management
In Short Selling: Finding Uncommon Short Ideas (Columbia Business School Publishing, 2015) Amit Kumar, a portfolio manager at Columbia Threadneedle Investments and adjunct professor of finance at Rutgers Business School, shares valuable insights from his career as well as the careers of three top investors. Short selling is notoriously difficult. Kumar doesn’t recommend it for the average individual investor; “it
Bezos can teach Ma how to run the SCMP
Alibaba's $266 million purchase of the South China Morning Post (SCMP) has elicited some anxiety. Critics fear that the top-selling English-language daily might lose its independent voice, and those concerns grew after an interview Alibaba's executive vice chairman Joseph Tsai gave to the SCMP earlier this week. He complained that there is too much negative coverage of Alibaba and that in
China keeping the dream alive with government spending
Capital Markets
Reported central government spending in China, which is likely only a fraction of the actual level of state directed spending in the economy, has recently shot up to a new all-time high just as the reported economic growth rate has plunged to a low not seen since the late ’90s. A coincidence this is not. Growth in the industrial economy
Daily Scan: RIP zero-interest rates; Fed raises fed funds 0.25% and 2-year note shoots above 1%
Capital Markets — Ivan the K™ ? (@IvanTheK) December 16, 2015 Updated throughout the day December 16, 2015 It took seven years, but the Federal Reserve finally decided to raise interest rates by 0.25%. Rates will rise for the first time Thursday, and Fed officials say they will adjust their strategy as they see how the economy reacts. Chairwoman Janet Yellen said
Fed raises rates 25 basis points; sees gradual increases; inflation rising to 2% in 'medium term'
Capital Markets
Here is the statement of the Federal Open Market Committee (bold emphasis added): For immediate release Information received since the Federal Open Market Committee met in October suggests that economic activity has been expanding at a moderate pace. Household spending and business fixed investment have been increasing at solid rates in recent months, and the housing sector has improved further;