Today's Finance Pulse
SpaceX files for record‑size IPO, targeting $50B‑plus raise and $1T valuation
SpaceX confidentially filed for an IPO slated for June 2026, aiming to raise at least $50 billion and push its valuation above $1 trillion. Founder Elon Musk holds roughly 44 percent of the company, giving him a net worth of about $823 billion. The filing positions the rocket and satellite maker among the most valuable public companies ever.
Also developing:
By the numbers: Berkshire Hathaway invests $10B in Alphabet's private placement
Apollo Nears $10bn Acquisition of KKR’s Atlantic Aviation
Apollo Global Management is close to buying Atlantic Aviation for nearly $10 billion, partnering with Singapore sovereign wealth fund GIC for a majority stake while KKR retains a minority interest. The deal would mark KKR’s exit from the private‑jet services provider it bought for about $4.5 billion in 2021. Announcement could come next week, following KKR’s recent $4.75 billion sale of CoolIT Systems. Atlantic Aviation operates over 100 U.S. fixed‑base operations offering fueling, de‑icing, maintenance, and concierge services.
M&G Global Maxima Equity UCITS ETF Debuts on London Stock Exchange
M&G Investments introduced the Global Maxima Equity UCITS ETF on the London Stock Exchange on March 31, 2026, extending its active‑ETF lineup. The fund mirrors a €385 million ($424 million) Luxembourg mutual fund that uses quantitative analysis and machine‑learning to select stocks...
EIB Global Agrees $200m Green Financing for Vietnam’s Techcombank
European Investment Bank’s global arm has committed a $200 million green financing facility to Vietnam’s Techcombank. The loan will be deployed to expand the bank’s lending for renewable energy, energy efficiency and sustainable transport projects. This partnership aligns with Vietnam’s push...
Beiersdorf to Boost Its Innovation Agenda With New, 100 Million-Euro Venture Capital Fund
Beiersdorf has launched a second‑generation Skin Care Innovation Fund with a €100 million ($109 million) commitment, doubling the size of its 2020 venture capital vehicle. The fund will back early‑ to growth‑stage startups worldwide in skin‑care, life sciences, sustainability, AI‑enabled technologies and...
Standing Ovation Raises €30M to Scale Precision Fermentation Dairy Proteins Globally
Standing Ovation, a French precision‑fermentation startup, closed a €30 million Series B round (≈$32.5 million) led by the France 2030‑backed Ecotechnologies 2 fund and Crédit Mutuel Innovation, with participation from Danone Ventures, Bel Group and other investors. The financing includes €25 million in equity (≈$27 million) and...
It's Bigger Than You Expected?
Private credit markets, once hailed as a high‑yield haven, are now confronting a stark reality check. Investors who expected robust returns are seeing those projections shrink as rising rates and tighter credit conditions bite. The sector’s growth to over $1 trillion...
New I-T Law, Higher Securities Transaction Tax on F&O Trade to Kick in From April 1
The Indian government will roll out a new Income‑Tax Act 2025 and related budget measures on April 1, 2026, including a higher securities transaction tax (STT) on futures‑and‑options (F&O) trades. STT on futures rises to 0.05% (from 0.02%) and on options to...
Winning the Contract that Breaks You: The Hidden Cashflow Trap for SMEs
Winning a major supply contract with a large retailer can appear as a breakthrough for an SME, but extended payment terms of 60‑90 days often create a cash‑flow mismatch. The article highlights how GST obligations and the new PayDay Super...
EMEA in Conversation | Eyes on Europe
In this inaugural episode of JPMorgan’s EMEA in Conversation, Stu Cofer and Alison Livesey discuss how Europe’s payments landscape is rapidly accelerating, driven by instant payments, evolving regulations like PSD3, and a push toward interoperability and programmable finance. They highlight...
Three Hidden Deal Factors Could Derail Sunway Before Deadline
Everyone is watching whether Sunway extends the April 6 closing date. That is the wrong thing to watch. There are three things sitting quietly in this deal that nobody is talking about — and one of them could end the entire conversation...
If OpenAI Is to Float on the Stock Market This Year, It Needs to Start Turning a Profit
OpenAI, valued at roughly $850 bn, is confronting a massive cash‑burn problem as it eyes a potential IPO before year‑end. The company plans to spend about $600 bn on compute infrastructure through 2030, yet its current annualised revenue sits near $25 bn, leaving...
Nordstrom’s $6.25 Billion Deal to Go Private Is Paying Off—And Don’t Expect an IPO Anytime Soon
Nordstrom completed a $6.25 billion take‑private in 2025, giving the founding family a 50.1% stake alongside Mexico’s El Puerto de Liverpool. In 2025 revenue rose 7% to $15.9 billion, finally surpassing its 2019 peak after pandemic‑related weakness. The private structure lets the co‑CEOs...
#277 How CFOs Scale to $100M+ Without Leaving Xero, David Tuck, Founder, Mayday and Kate Hayward, Managing Director UK, Xero
In this episode, Kevin Appleby talks with Kate Hayward, Managing Director of Xero UK, and David Tuck, founder of Mayday, about how finance teams can scale beyond $100 million in revenue while staying on Xero instead of migrating to a traditional...
The Hidden Ecommerce Revenue Killers Eating Your Margins with DJ Sprague
In this episode, hosts David Shomer and Ken Wilson sit down with e‑commerce expert DJ Sprague to expose the "10 hidden revenue killers" that can drain up to 37.9% of a brand’s profit, from payment‑processor fees and false declines to...
'A Golden Period': Seizing the Moment in European Real Estate Credit
The episode examines the resurgence of liquidity in European real estate credit, highlighting how banks have returned to the market alongside well‑capitalized debt funds. Guests Isabel Brennan (LaSalle) and Christian Janssen (Nuveen) explain that while core senior loans are now...
Intensive Competition Among Lenders Has Shifted Pricing Power Back to Issuers
Private‑credit spreads have tightened sharply over the past four years, now averaging under 600 basis points in both the United States and Europe. An oversupply of capital, renewed bank competition and the refinancing of high‑spread 2022 loans have driven the...
Toyota Supplier Denso Targets 11% Return on Equity by 2030
Denso, Toyota's major auto parts supplier, announced a new strategic plan aiming for $50 billion in sales and an 11% return on equity (ROE) by 2030, up from its projected 8.1% ROE for fiscal 2026. The company also targets a 10%...
RioZim to Sell Murowa Diamonds Stake and Key Assets to Settle US$76.5 Million Debt
RioZim announced it will sell its 22.2% stake in Murowa Diamonds along with four diamond claims and several gold and land assets to address a $76.5 million debt burden. The primary target is a $60.8 million liability owed to major shareholder RZM Murowa....
Service Quality and Consumer Protections to Improve in Proposed Changes to NBN Regulation
The ACCC released a draft determination that will set NBN Co’s regulatory framework from 1 July 2026, proposing lower capital spending, reduced weighted‑average cost of capital, and tighter benchmark service standards. It also upgrades the entry‑level broadband offering to a 25 Mbps download/10 Mbps...
SIFMA’s Quantum Dawn VIII Exercise Tests Readiness for Polycrisis Incidents
SIFMA released the after‑action report for its biennial Quantum Dawn VIII resilience exercise, which simulated a Category 5 hurricane, a transatlantic cable cut, a Financial Market Infrastructure outage, and a state‑backed zero‑day cyber attack. Nearly 1,000 participants from over 100 public and...
Red Metal to Reward Shareholders with Direct Ownership of Silver Developer Maronan
Red Metal announced it will distribute roughly 73.1 million Maronan Metals (MMA) shares to eligible RDM shareholders, equating to one MMA share for every 5.25 RDM shares held. The move will reduce Red Metal’s stake from 35.2% to about 15.4 million shares,...
M&A Trends: PE Take Privates on the Rise
EY Parthenon’s February 2026 report shows private‑equity‑backed take‑private deals rising 9% month‑over‑month, while overall M&A deal value jumped 139% as transaction volume fell 15%. Large‑scale deals are driving the surge: transactions of $100 million + grew 224% in value and $1 billion + deals surged...
Rethinking Private Ordering: The Financial Disclosure Quandary
The SEC has delegated full rulemaking authority over U.S. financial disclosure to the private‑sector Financial Accounting Standards Board (FASB), creating a full‑delegation private‑ordering model. This arrangement places standard‑setting power in the hands of accountants who also must comply with the...
Sullivan & Cromwell Discusses FDIC Rescission of Policy Statement Limiting Participation of Private Investors in Failed-Bank Acquisitions
On March 19, the FDIC rescinded its 2009 Statement of Policy that limited private‑equity participation in failed‑bank acquisitions, aiming to broaden the pool of bidders and reduce resolution costs. The move follows a pilot program that pre‑qualifies nonbanks for asset...
Japanese Cross‑shareholdings Shield Incumbents, Hurt Shareholders
Shareholders are supreme under Japanese corporate law, but shareholders' economic interests are not. What is the distinction? Japan is (in)famous for its webs of cross-shareholdings. Suppliers, customers, financial institutions own shares in each other, and always support incumbent management with their...
Mecca Fined $600,000 for Alleged Asic Reporting Violations
Mecca Brands Pty Ltd, Mecca Brands NZ Pty Ltd and RTCH Pty Ltd were each hit with a $198,000 AUD (≈$130,000 USD) infringement notice for failing to lodge audited financial reports for the year ending 28 December 2024, totalling $594,000 AUD (≈$392,000 USD). The penalties were...
Stellantis’ $26 Billion EV Reset – a Potential Net Positive for NdFeB Magnet Demand via EREV Pivot
Stellantis announced a €22.2 billion ($26 billion) charge to reset its EV strategy after over‑estimating adoption rates. The automaker is pivoting to a multi‑energy mix that emphasizes internal‑combustion engines, conventional hybrids and range‑extended electric vehicles (EREVs). Because EREVs rely on permanent‑magnet synchronous...
Exclusive: FreshToHome Set to Bag Another Debt Round Led by BlackSoil
FreshToHome is close to securing about $16 million in debt across two tranches, the latest led by BlackSoil with $7.2 million and Stride Ventures contributing $1.8 million via OCRPS. The round adds to a prior $9 million January debt and follows a $104 million Series D...
BX 2026-ALOHA Issues Single-Borrower $1.2 Billion, CMBS Deal
BX 2026‑ALOHA has launched a $1.2 billion single‑borrower CMBS transaction. The deal, backed by a non‑recourse first‑lien mortgage, covers 36 Hawaii properties—20 retail, 15 industrial and two office assets—leasing 92.7% to over 670 tenants. KBRA assigned AAA, AA‑, and A‑ ratings...
Carbon Streaming Announces Financial Results for the Year Ended December 31, 2025
Carbon Streaming Corp. posted FY 2025 results showing $39.1 million in cash, no corporate debt and a positive operating cash flow, while narrowing its net loss to $2.5 million from $67.4 million a year earlier. Operating loss fell to $4.7 million, and the company generated...
Chicago's New Pre‑Rental Inspection Rule Threatens Small Landlords
Chicago has adopted a citywide mandate requiring pre‑rental inspections before a unit can be leased, with the cost placed on property owners. Small, independent landlords warn the rule could add to already‑inflated expenses from rising property taxes, insurance and maintenance,...
Aurinia to Acquire Kezar for $6.96 per Share, Adding Immunoproteasome Asset
Aurinia Pharmaceuticals announced a definitive agreement to acquire Kezar Life Sciences for $6.955 in cash per share plus a contingent value right (CVR). The deal, slated to close in Q2 2026, gives Aurinia access to Kezar’s lead immunoproteasome inhibitor, zetomipzomib, and...
SK Securities Launches Public Fund Mixing Four Top Korean Hedge Funds, Slashing $220k Entry Bar
SK Securities has introduced the Daor Orca Alpha Selection Mixed Asset Investment Trust, a public fund that aggregates strategies from four leading Korean hedge funds. The product cuts the minimum investment from 300 million won (about $220,000) to a level accessible...
UPS CFO Announces 2026 Dividend Freeze Amid E‑commerce Margin Pressure
UPS chief financial officer Brian Dykes told investors the company will freeze its dividend in 2026, citing falling Amazon volumes, a costly aircraft replacement program and a transition of its Ground Saver service. The move highlights tightening margins for a...
USPS $9 B Loss Triggers Postage Hike Threat, Raising Costs for Direct‑Mail Marketers
The United States Postal Service posted a $9 billion net loss for fiscal 2025, and Postmaster General David Steiner warned Congress that without new funding or pricing authority, postage rates could climb above $1. The potential hike threatens the cost structure...
American Hotel Income Properties REIT LP Reports Q4 2025 Results, Improved Balance Sheet and Demonstrated Hotel Value
American Hotel Income Properties REIT LP (AHIP) posted its Q4 2025 results, highlighting a modest ADR increase to $137 and flat RevPAR at $94, while same‑property NOI fell 22.3% to $7.2 million. The REIT continued its balance‑sheet overhaul, redeeming $25 million of its...
Hong Kong's Lai Sun Seeks Maturity Extension for July Dollar Bond
Lai Sun Development has asked bondholders to extend the maturity of its $493 million July 2024 bond by three years, offering to repay 20% of the principal upfront. The proposal, discussed in private meetings, would make Lai Sun one of the...
Organigram's Sanity Deal Boosts EU Reach, Buy Pullback
Macro: Organigram acquires Sanity, expands into EU; Key: 93% vote, BAT financing, 68.6% LTM rev, positive EBITDA; Risks: closing risks, earnout; Trade: buy on pullback — Viktor Kopylov, PhD, CFA. More insights: t.me/si14Kopylov
HFG Shifts to Meat, Cuts Debt, Holds Dividend
#HFG looks as expected. Debt down a bit which is good. Focus on meat now. Committed to progressive Dividend policy. Looks like seafood/veg might get sold off.
AI Agents Are Democratizing Finance but Also Redefining Risk
AI agents are now moving capital autonomously, turning complex arbitrage strategies into simple commands and democratizing access to sophisticated finance. Users have seen outsized returns, such as a $300 investment growing to over $2.3 million in four months, thanks to rapid,...
PETS Stable, Energy Hedged; Shift to 50% Dividend, Rest Buy
#PETS "in line" and energy costs mostly hedged. Changing shareholder return policy to 50% Dividend and the rest as Buybacks. That's perhaps a reasonable idea when shares beat up.
Senegal's Anti-Corruption Promise Shattered by Hidden €650M Debt
Following its 2025 hidden-debt scandal, Senegal tapped €650M in undisclosed borrowing to finance itself. Typical. In 2024, Senegalese Pres. Bassirou Faye ran on an anti-corruption platform. https://t.co/RynjocejJG
Herbalife to Acquire Bioniq for $55 Million, Boosting Global Personalized Nutrition
Herbalife Ltd. agreed to buy assets of UK‑based Bioniq for $55 million, with $10 million paid at closing and up to $95 million in performance‑based earn‑outs. The acquisition is designed to expand Herbalife’s data‑driven, personalized nutrition offerings through its global distributor network.
Managed Money's Oil Options Net Long 50× Average
Goldman Sachs on the oil options market: “… The rally has spread beyond the spot crude market, with net long options managed money positioning 50 times higher than its 10-year average as investors bought options with strikes as high as $450...
Coupon Supply vs GDP Reveals Misleading Percentage Metrics
not a big fan of doing percentage shares of the outstanding when the outstanding is way up -- here is a chart of coupon supply as a stock normalized v GDP 1/2 https://t.co/yTbJuALpQ8
State Street Bridgewater All‑Weather ETF Posts 15% First-Year Return Amid Mixed Markets
State Street and Bridgewater launched the All‑Weather ETF on March 5, 2025. The fund delivered a 15.1% total return through the end of 2025, lagging the global equity benchmark by about five points, and has posted a modest sub‑2% gain year‑to‑date in...
Allbirds' Valuation Plummets From $4B to $39M
Allbirds just sold for $39 million. The company was once worth over $4 billion. https://t.co/KqbYOf0TBg
Hong Kong IPO Revival Stalls as Regulators and Market Turbulence Raise Stakes for Big Deals
Hong Kong's IPO market, which raised nearly $14 bn in the first quarter – its best since 2021 – is now confronting regulatory warnings, a shortage of deal‑banking staff and Beijing's new restrictions on Chinese listings, dampening investor appetite and putting...
Orbital AI's Starcloud Raises $170M, Hits $1.1B Unicorn Valuation for Space‑Based Data Centers
Orbital AI’s Starcloud announced a $170 million financing round that lifts its valuation to $1.1 billion, making it Y Combinator’s quickest path to unicorn status. The funding fuels the launch of its next-generation satellite data center, Starcloud‑2, and underscores growing venture interest...
SaaS Sell‑Off Sends RingCentral, DigitalOcean, SentinelOne, CrowdStrike Tumbling
Shares of RingCentral, DigitalOcean, SentinelOne and CrowdStrike slumped sharply amid a broad SaaS sell‑off, with the four stocks losing between 30% and 35% from recent highs. The decline reflects investor anxiety over AI‑driven pricing pressure, slowing growth and the looming...