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EMAIL DIGESTS
Daily
Every morning
Weekly
Tuesday recap
Wipro lands $1B-plus transformation deal with Olam, adds 3,200 specialists
Wipro Limited signed an eight‑year strategic transformation contract with Singapore‑based Olam Group valued at over $1 billion, including an $800 million committed spend. The agreement also involves Wipro acquiring Olam’s digital arm, Mindsprint, bringing roughly 3,200 specialists into its portfolio. Shares rose about 3% on the news.
Also developing:
By the numbers: 4DMedical raises $57M in private placement
Bitfarms Ltd. shareholders voted 99.3% in favor of a statutory plan of arrangement to redomicile the company from Canada to the United States and to rebrand as Keel Infrastructure Corp. The one‑for‑one share exchange will move BITF shares onto a newly incorporated Delaware entity that will trade under the ticker KEEL on both NASDAQ and the TSX. The transition is slated for completion around April 1 2026, pending court approvals and closing conditions. CEO Ben Gagnon framed the move as a strategic pivot to enhance long‑term shareholder value.
Ontario's 2026‑27 budget projects a $13.8 billion CAD (≈$10.2 billion USD) deficit, pushing the balanced‑budget target to 2028‑29. Despite stronger‑than‑expected growth, all extra revenue is earmarked for health, education and infrastructure, leaving no surplus. Real GDP is forecast at 1.0% in 2026...
Electra Battery Materials announced the restart of construction on its Ontario cobalt sulfate refinery, approving a US$73 million budget and securing US$82 million in financing, including US$20 million from the U.S. Department of War and US$28 million from Canadian government sources. The company completed...
Morningstar DBRS confirmed credit ratings for all classes of JPMCC Multifamily Housing Mortgage Loan Trust 2025‑Q032 and Freddie Mac Structured Pass‑Through Certificates Series Q‑032, assigning AAA to Class A, A (low) to Class B, and BBB (low) to Class C, with a stable trend....
Manhattan Bridge Capital reported 2025 net income of $5.11 million, or $0.45 per share, an 8.6% decline from the prior year. Total revenue slipped 10.6% to $8.67 million, primarily due to lower interest income from a reduced loan portfolio and fewer origination...
Manhattan Bridge Capital reported 2025 net income of $5.11 million, or $0.45 per share, an 8.6% decline from the prior year. Total revenue fell 10.6% to $8.67 million, driven by lower interest income and reduced loan origination fees. Operating expenses decreased 13.2%...
Paul Mueller Company reported a strong fourth‑quarter 2025, posting net sales of $94.1 million—up 34% year‑over‑year—and net income of $13.2 million. Full‑year results showed revenue of $287 million and net income of $34.7 million, driving earnings per share to $14.73 for the quarter and...
Biodexa Pharmaceuticals reported its 2025 preliminary results, highlighting the launch of the Phase 3 Serenta trial for eRapa in familial adenomatous polyposis with the first US and European patients enrolled. The company secured an in‑licensing deal with Otsuka for the novel...
Helios Fairfax Partners reported record net earnings of $40.5 million for 2025, the highest since its 2020 inception, driven by a 17% increase in portfolio investments to $463.7 million. Book value per share climbed 9.9% to $4.22, and the company realized $25.2 million...
Insurance M&A activity stabilized in 2025 after a steep 40% drop from 2023, with 211 carrier and broker deals globally, up from just over 200 in 2024. In the U.S. and Bermuda, 455 deals were recorded, but P/C carrier volumes...
Ramada Investimentos e Indústria, S.A. announced that its 2025 Annual Report and Accounts were formally approved at the shareholders’ Annual General Meeting on March 27, 2026. The approval was recorded in a non‑ESEF filing, confirming compliance with Portuguese reporting standards....
Arverne Group, France's leading geothermal solutions provider, announced an ORANE bond issuance of at least €33 million (about $36 million). The 7% annual‑interest bond, maturing June 30 2027 with a six‑month extension option, will be primarily subscribed by Bpifrance together with longtime investors Eiffel Essentiel,...
An important reminder if you work for a family office or just a HNWI and you've done a wonderful job allocating their capital across various asset classes: fixed income, real estate, public equities, PE, venture capital, private credit, commodities, and traditional...
Former President Donald Trump is set to headline a Saudi‑backed investment summit in Miami Beach, drawing sovereign‑wealth officials and billionaire financiers. The event comes as the Iran‑Israel war pushes oil above $110 a barrel and rattles equity markets, raising stakes...
Ensurge Micropower ASA announced that its 2025 Annual Report will be published on 10 April 2026, pushing the release back by two weeks from the previously scheduled 27 March 2026. The company updated its entire 2025 financial calendar to align with the new reporting...
Blue Owl Capital announced the final close of its inaugural Blue Owl Strategic Equity (BOSE) fund with more than $3 bn in commitments. The vehicle targets GP‑led continuation funds and minority equity deals, arriving as GP‑led secondaries hit record volumes.
The Maryland Heights‑owned Centene Community Ice Center has drawn on its debt‑service reserve to meet a March principal payment on its $50.2 million Series 2018A revenue bonds and has defaulted on the $5.5 million Series 2018B subordinate bonds. Outstanding principal on the Series A bonds...
The Chicago City Council voted to increase the hotel occupancy tax to 19%, creating the highest hotel tax rate in the United States. The hike, driven by budget pressures and a push for greater tourism funding, will add roughly six...
JLL Capital Markets arranged a $74.5 million, three‑year refinancing loan for the 267,294‑square‑foot Shops at Stonefield shopping center in Charlottesville, Virginia. The center, anchored by Trader Joe’s and featuring tenants such as L.L. Bean, lululemon, Sephora and a 14‑screen Regal Cinema, is 98 percent...
The SEC approved an amendment to the National Market System Plan for the Consolidated Audit Trail (CAT), granting exemptive relief from certain Rule 17a‑1 requirements. The changes let participants stop creating interim linkages, delete data older than three years, and relax...
Japan's finance minister, Satsuki Katayama, warned Friday that authorities will respond firmly and take decisive action to stop the yen's slide toward the 160‑per‑dollar mark. The warning came as the currency fell to about 159.80 per dollar in New York,...
Presurance Holdings reported a sharp decline in Q4 2025 gross written premiums, falling 42% to $7.9 million as the company completed its exit from commercial lines, which generated zero premium in the quarter. Personal lines premium increased 12.7% year‑over‑year, now representing...
The U.S. Treasury sold $44 bn of seven‑year notes on Thursday, posting a high yield of 4.255% and a bid‑to‑cover ratio of 2.43, the lowest in ten auctions. The weak demand follows similarly tepid interest in recent two‑year and five‑year auctions,...
DKSH Holding AG disclosed a deal to purchase AIC Ingredients Sdn Bhd, a Malaysian bakery‑focused functional‑ingredients maker. The transaction, slated to close in Q2 2026, will create a third ekpi pillar in Malaysia and broaden DKSH’s food‑blending capabilities across Southeast Asia.
The episode examines the surprising resurgence of emerging‑market bond issuance, led by African issuers such as Angola and telecom tower firm Helios, while Central‑Eastern European and Middle‑Eastern markets remain largely dormant due to war‑related volatility. George Collard explains why lower‑rated...
Winnie Cisar highlighted that less than 10% of private credit is owned by retail investors, making the asset class vulnerable to redemption pressures. Recent redemption requests expose a liquidity‑mismatch risk, especially as private credit has historically provided crucial funding to...
Telia Lietuva’s board approved its 2025 audited financials, confirming revenue of €507.3 million (≈$553 million), EBITDA of €196 million (≈$214 million) and profit of €90.4 million (≈$99 million). The company proposes a €0.14 per‑share dividend (≈$0.15) and will retain €134.9 million (≈$147 million) as earnings. A new board...
Restaurant operators who can read their profit and loss (P&L) statements gain a real‑time scorecard rather than a tax‑only report. Monthly close cycles let owners compare actual results against budgets and spot variances instantly. This visibility uncovers hidden cost leaks...
State Street trimmed the expense ratio of its actively managed SPY Momentum ETF (SPYM) by five basis points, a modest reduction that sparked more than $2 billion in net inflows within a few months. The fee cut appealed to both institutional...
Toys “R” Us Canada has filed to start a formal sale process, seeking court approval in April 2026 with bids expected in May and a potential closing by mid‑July. The retailer’s footprint has shrunk from 81 stores in 2021 to just...
Ceconomy announced that Austrian authorities may block JD.com Inc.'s €2.2 billion (~$2.5 billion) offer to acquire the German consumer‑electronics retailer. The Austrian Federal Ministry of Economy has expressed doubts about the transaction’s approvability and refused to join a joint solution‑finding process. Ceconomy...
Finance Minister Nirmala Sitharaman said the government will intensify non‑tax revenue mobilisation and stay vigilant on the fiscal deficit as global crude jumped from $70 to $122 a barrel. To shield consumers, the cabinet cut petrol excise by ₹10 per litre...
Carter Bankshares sold its remaining Justice family loan portfolio for $289.5 million, covering $209.5 million of non‑performing loans and most lost interest. The transaction cuts the bank's non‑performing loan ratio from 6.29% to 0.82% and reverses an $18 million specific reserve, boosting tangible...
The 10‑Year Treasury yield, which peaked above 5% in late 2023, has rebounded to roughly 4.4% after a dip to 3.8% in August 2024, reflecting lingering inflation and geopolitical risks. The Federal Reserve has held rates steady this year, but...
the roll-up math: buy 8 businesses at 4x combined EBITDA: $4M Synergised platform value at 10x: $40M same earnings the multiple did all the work
Traeger awarded discretionary cash bonuses of $956,250 to CEO Jeremy Andrus and $270,938 to CFO Michael Hord, even though the 2025 annual cash incentive program targets were not met. The bonuses are intended to retain senior leadership as the outdoor‑cooking...
Versant, the parent of MS NOW and CNBC, is in early‑stage talks to acquire Vox's podcast division, which produces roughly 40 shows. The potential purchase aligns with Versant's strategy to broaden its political news, opinion, sports and entertainment verticals beyond traditional...
the quality of earnings review finds every time: – inflated owner salary – personal expenses in business – one-off revenue not repeating – related party transactions every finding: – a price reduction – a structure adjustment – a walk away signal never skip it
Looks like forthcoming Morgan Stanley Bitcoin ETF is undercutting competition on fees... Will only charge 0.14%. Current lowest cost spot btc ETF is Grayscale Bitcoin Mini Trust ETF at 0.15%. Game on. https://t.co/zJVK5k51ZD
Africa Bitcoin Corporation (ABC), a South African Bitcoin‑focused SME lender, now holds 5.0246 BTC worth about $359,000, purchased at an average $100,574 per coin. The firm has set a 2030 ambition to accumulate 21,000 BTC, which would make it the...
As an asset manager, your job is to think ahead about the big expenses before they happen.
This week in enterprise software: Top 10 #SaaS #Cloud multiples as of today's market close https://t.co/bnxxG3uisU
American Express reported an exceptional 2025, posting some of its strongest financial results ever, driven by a loyal customer base, an extensive merchant network, and its workforce. The company attributes this performance to its long‑standing "Framework for Winning," a strategic...
what's the moat for financial planning software? one of my portfolio companies ripped it out and built their own...it was not hard.
What is the role of accountability in the aftermath of DeFi exploits? And do DeFi people not know how to reason about risk? @kaiynne, @LucaNetz, @tayvano_ & @omeragoldberg try to answer these in this week's Uneasy Money stream. https://t.co/s7LFvZz7hf
Absa Group booked a R2.4 billion (≈$126 million) software impairment for 2025, far exceeding the R179 million (≈$9 million) written off a year earlier. The write‑down reflects accelerated obsolescence as AI, cloud adoption and faster technology cycles render legacy platforms uneconomic. Absa’s IT spend...
In my view, markets are underestimating systemic risks of Middle East War and overestimating systemics risks of private credit
The ALPS O’Shares Global Internet Giants ETF (OGIG) trimmed its stakes in Meta Platforms and Alphabet to a 6% cap during the March 2026 rebalance, aligning with a broader move away from the so‑called Magnificent Seven. The fund added three...
OUT NOW - Former PIMCO Sovereign Credit Head on Iran War's global stagflation shock & risks for sovereign bonds. EM central banks don't have luxury of "seeing through" $100 oil - many will feel pressure to hike Apple 🔊https://t.co/FbjlbTwSHF Spotify📽️https://t.co/BWmky8uYIF https://t.co/eMPzAa5H18
ISDA issued guidance for OTC derivative parties regarding the anticipated non‑publication of the Secured Overnight Financing Rate (SOFR) on Good Friday, April 3 2026. The guidance outlines fallback mechanisms, amendment procedures, and confirms the holiday‑driven gap in the benchmark. It advises market...
