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
Loan Note: How to Accommodate the Retail Rush; Increased Capital Flows Put Underwriting in Spotlight
The latest loan note highlights a surge in retail investor redemptions, putting pressure on capital providers to manage liquidity. Growing capital inflows are raising concerns about underwriting standards across private‑debt markets. British International Investment announced backing for an emerging‑market impact fund, signaling continued appetite for socially‑oriented credit. The brief urges firms to balance rapid retail demand with rigorous credit assessment.
Why Investors Won’t Know What to Make of AI for a While
Investors are struggling to price artificial‑intelligence companies because revenue models are still evolving and traditional valuation metrics lag behind rapid adoption. The article argues that AI’s impact is broader than past tech waves, but the market lacks reliable data on...
Precision BioSciences (DTIL) Swings to $1.05 EPS in Q4, Reversing $2.22 Year-Ago Loss
Precision BioSciences reported GAAP diluted EPS of $1.05 for Q4 2025, a sharp turnaround from a $2.22 loss a year earlier. Net income rose to $20.1 million while revenue held steady at $34.2 million. The profit swing marks a potential inflection...
Crypto for Advisors: Crypto Accounting; Comparing the US and Europe
Crypto accounting remains unsettled as digital assets defy traditional GAAP and IFRS categories, creating valuation and disclosure uncertainty for funds in both the US and EU. The EU is advancing harmonized reporting through the phased rollout of MiCA, while the...
CRISIL Rates WeWork India A+/Stable, Projects 15-20% Revenue Growth
CRISIL assigned WeWork India Management Ltd an A+/Stable long‑term rating and an A1 short‑term rating covering ₹800 crore of bank facilities. The rating agency projects operating income to rise 15‑20% over the medium term as the coworking provider adds 20,000‑30,000 desks...
CareCloud (CCLD) Reports EPS of $0.04 for Q4 FY25; Revenue Rises 22%
CareCloud, Inc. posted GAAP earnings of $0.04 per share for Q4 FY25, marking a modest profit after flat performance a year earlier. Revenue surged to $34.4 million, a 21.8% year‑over‑year increase and the strongest quarterly top‑line in recent history. The company...
The Hidden Cost of Inaccurate Time Tracking and How to Fix It for Growing Teams
Inaccurate time tracking is costing U.S. professional‑services firms billions, with an average loss of $63,807 per employee each year. Missed or misrecorded minutes translate into under‑billing, payroll errors, project overruns, and compliance risks that erode margins and credibility. AI‑powered platforms...
Messy Books? No Shame—Let's Sort Them Together
The thing I get apologized to for most when someone first comes to me is how messy their books are. Please stop. Genuinely. Almost everyone who comes to me has a messy backlog. It's not a reflection of who you are,...
Novo Holdings’ Assets Fell 34% in 2025 As Its Namesake Drugmaker Struggled
Novo Holdings' assets under management plunged 34% in 2025, falling to €93 billion as its controlling stake in Novo Nordisk lost market value. Despite the valuation hit, the holdings generated €2.8 billion in income and delivered 8‑9% five‑ and ten‑year returns, outpacing...
Fraud Battle Calls for Cross-Sector Effort
Financial institutions are urging federal rule changes and cross‑sector data sharing to combat AI‑enabled fraud. Panelists highlighted the need for banks, telecoms and social‑media platforms to exchange real‑time signals, creating a unified view of fraud networks. Current safe‑harbor protections under...
Coercive A&E Dominates $38B Software Maturity Market
The software maturity wall isn't a secret. Everyone has this chart. $38B in 2028. Mostly B and below. These aren't getting refinanced at par. They're getting extended. The only question is whether the A&E is consensual or coercive. And if the last...
OBDC's 25% NAV Discount Highlights Stale Marks
Blue Owl says the marks are real. Every sell-side analyst has a Buy. Yet $OBDC trades at a 25% discount to NAV. Finally had a chance to go through the portfolio. Found exactly what you'd expect: stale marks, understated software exposure,...
Number Crunch: Vive Le Private Equity
France’s private equity market continues to hold its ground in Europe despite a broader fundraising slowdown. Recent data shows French funds maintaining stable capital commitments while peers in the UK and Germany face declines. The resilience is attributed to a...
UK Raises $8.4 Billion in First Green Bond Offering to Include Nuclear Energy as Eligible Use of Proceeds
The UK Debt Management Office completed a £6.25 billion (US$8.4 billion) Green Gilt offering maturing in 2037, the first new green gilt since 2021. The issuance brings total green gilt proceeds to £55.8 billion since the program’s launch and introduces a dedicated green...
Doeren Mayhew Adds Berman Hopkins
Doeren Mayhew announced the acquisition of Berman Hopkins CPAs & Associates, adding nearly 100 employees and nine principals to its roster. The deal expands the Michigan‑based firm’s presence in central Florida, bolstering its service platform across construction, healthcare, manufacturing and...
Why CFOs Are Rethinking How Businesses Control Vendor and Subscription Spending in 2026: Expert Commentary
CFOs are shifting vendor and subscription spend management from a reactive back‑office task to a strategic priority in 2026. Rising inflation, post‑pandemic budget tightening, and an explosion of recurring SaaS contracts have exposed the limitations of manual expense processes. Finance...
EU Financial Markets Enter 2026 Amid High-Risk Environment
The European Securities and Markets Authority (ESMA) released its first risk‑monitoring report for 2026, warning that market and systemic stress remain high despite solid performance in late 2025. Geopolitical tensions, stretched equity valuations, rising price correlations and sophisticated cyber‑hybrid threats...
ESMA Sets Out Actions to Simplify the Retail Investor Journey and Make Investing More Accessible
The European Securities and Markets Authority (ESMA) released its takeaways from the 2025 Call for Evidence on the retail investor journey, outlining concrete actions to make investing easier for EU consumers. It will focus on streamlining disclosure requirements, simplifying suitability...
7 Best Invoice Management Software for 2026: My Picks
Finance teams are increasingly burdened by manual invoice approvals, prompting a surge in specialized invoice management platforms. Darshayita Thakur evaluated over 20 solutions and identified seven top performers for 2026: Xero, Paylocity, SAP Concur, BILL AP/AR, Stampli, Payhawk, and SAP Cloud ERP. Each...
TasFoods Appoints Administrators
TasFoods announced on 12 March that it has entered voluntary administration after an unsuccessful attempt to sell its core Nichols Poultry unit. The board appointed KPMG partners Tim Mableson, David Hardy and Emily Seeckts to oversee the process and explore a...
SEC and PCAOB Enforcement Grinds to a Near Halt Under New Leaders
The SEC launched only ten accounting and auditing enforcement actions in 2025, the fewest in nine years, and collected just $31 million in settlements, a sharp drop from $907 million the previous year. Most of the 2025 penalties were imposed during outgoing...
AI Job Shock Could Threaten 10% of Australian Mortgages
When AI Hits Jobs: Macquarie Warns Mortgage Stress Could Ripple Through Australia's Banks AI-driven employment shocks could put 10% of mortgage payments at risk. Banks currently priced for "near-perfect outcomes" with minimal buffer. Australia's steady growth masks historical unemployment spikes: 11%...
Man Jailed for Running Illegal Sale-and-Rent-Back Scheme Targeting Struggling Homeowners
Rajinder Gill was sentenced to two and a half years in prison for operating an unauthorised sale‑and‑rent‑back scheme that defrauded vulnerable homeowners of £925,233. The scheme, run through Secure Property Consultants Ltd, forced owners to sell below market value, pay...
Second Charge Mortgage Firms Told to Raise Standards for Consumers
The FCA has warned second‑charge mortgage lenders and brokers to raise standards after a review uncovered weak affordability checks, inappropriate debt‑consolidation advice, poor record‑keeping and opaque fees. The sector, which serves borrowers with high debt and low resilience, accounts for...
RIA Valuations Dip as Earnouts Grow Longer
This is, indirectly, how valuation multiples for RIAs are starting to come down slightly. Because the headline number of "such-and-such got a certain multiple of EBITDA" isn't the walk-away-with-cash valuation, it's the valuation including post-closing growth contingencies. In the past, that...
Research Check-Off Dollars May Qualify Farmers for Federal SR&ED Tax Credit
Farmers who pay commodity check‑off or levy dollars that support research may be eligible for the federal Scientific Research and Experimental Development (SR&ED) tax credit. The Canada Revenue Agency administers the program, allowing the eligible portion of those contributions to...
Iran War, SaaS-Pocalypse Loom Over Already-Sluggish Sports Deals
M&A activity in the United States has slumped, with announced mergers dropping 23% to 1,795 by March 9, while sports and e‑sports deals fell to just five this year versus 57 in 2025. The downturn is driven by the February “SaaS‑pocalypse,”...
Lantern CFO Greg Chisholm Talks Health Care, AI and Capital Allocation
Lantern appointed Greg Chisholm as CFO, leveraging experience from HelloFresh, Wayfair, and McKinsey. He is focused on mapping the health‑care business’s complexity and shaping capital‑allocation decisions as the company scales at roughly 50% annual growth. Chisholm points to structural cost...
Countrywide II: UWMC + TWO = ? Loan Depot Flops, Again
United Wholesale Mortgage (UWMC) announced a stock‑only acquisition of Two Harbors, sending UWMC shares below $10 and sparking a shareholder vote amid a steep discount to Two Harbors' book value. The deal highlights UWMC’s reliance on mortgage‑servicing rights (MSRs), which...
Voya Limits Data Center Credit Investing on AI Demand Worries
Voya Financial’s private‑credit division is curbing exposure to data‑center credit tied to AI demand, citing concerns that the rapid expansion may plateau before debts are repaid. The firm manages a $50 billion portfolio and is limiting holdings linked to large tech...
ECB Embraces Tokenized Securities with 2026 DLT Rollout
🔥 Product-Market Fit so strong, even the stablecoin-skeptical European Central Bank is planning tokenized securities. Pontes (Short-term Solution): A technical distributed ledger technology solution scheduled to launch in Q3 2026. It will allow market participants to settle transactions in central bank money using...
Side Letter: DC Denial
A major US public pension announced it will bar private‑market investments from its defined‑contribution (DC) portfolio, marking a rare retreat from private equity exposure. Simultaneously, general partners (GPs) are urging European Union policymakers to introduce measures that would catalyse private‑capital...
Evotec Slashes Staff as Turnaround Plan Gathers Pace
Evotec unveiled the second phase of its Horizon turnaround, announcing 800 job cuts and the closure of four sites to save €75 million by 2027. The move follows a previous round of 600 layoffs and a failed $2.1 billion Halozyme takeover, reducing...
Joint and Several Liability (JSL) Legislation 2026: What Recruitment Agencies Must Know
From April 2026 the UK will enforce Joint and Several Liability (JSL) legislation, expanding HMRC's ability to hold recruitment agencies financially responsible for unpaid PAYE, NICs, and other employment taxes incurred by umbrella companies. The rule shifts tax risk from...
Apollo Plans to Mark Private Credit Daily, Answering Critics
Apollo Global Management, which oversees $938 billion in assets, announced it will begin reporting net asset values for its private credit funds on a monthly basis, with plans to move to daily NAVs and third‑party valuations. The initiative comes as the...
Don’t Take All the Credit
The article by WisdomTree analysts Jeff Weniger and Kevin Flanagan examines the state of U.S. credit markets amid lingering Middle‑East conflict concerns. It notes that investment‑grade and high‑yield spreads entered 2026 at the low end of historical ranges, briefly widened when the...
Venu Secures $86M in Oversubscribed Public Offering, CEO Says: ‘We Just Raised a Ton of Money.’
Venu Holding announced an $86 million oversubscribed public equity offering, selling 18.75 million shares at $4 each and adding warrants for additional purchases. The capital will fund new venues in Texas and Oklahoma, repay a $4.35 million promissory note, and support working capital....
Emversity Buys Back Rs 6.5 Cr ESOPs From 20 Employees
Emversity has repurchased employee stock options worth Rs 6.5 crore from 20 staff members as part of a liquidity programme for employees who joined on or before 31 January 2024. The company now employs more than 700 people across 24 Indian states and over...
Deutsche Bank Discloses $30bn Private Credit Exposure While Planning Expansion
Deutsche Bank disclosed a private‑credit exposure of roughly €25.9 billion (about $30 billion) in its latest annual report, as the $1.8 trillion market grapples with heightened investor caution. The bank’s loan book to technology firms surged to €15.8 billion, up from €11.7 billion, reflecting a...
Global Financial Crime Surges to $4.4 Trillion, New Report Warns
Nasdaq Verafin’s 2026 Global Financial Crime Report estimates illicit activity at $4.4 trillion, a $1.3 trillion increase since 2023 and a 19.2% CAGR. Drug trafficking accounts for $1.1 trillion, human trafficking $528.5 billion, and terrorist financing $16.2 billion. Fraud scams surged to $579.4 billion, driven by...
Tokio Marine Targets Mid-Guidance Pricing for $100m Kizuna Re Quake Cat Bond
Tokio Marine & Nichido Fire is targeting mid‑guidance pricing for its $100 million Kizuna Re III catastrophe bond, which provides earthquake reinsurance for the Tokio Marine group. The bond, issued through a Singapore‑based SPV, carries a three‑year rolling aggregate trigger and a...
Management Quality Trumps Cheap Valuation in Investing
A cheap stock with a bad management team is not a good investment. Valuation means nothing if the people running the business are misallocating capital, chasing the wrong metrics, or treating the company like their personal piggy bank. I look for leaders...
Only Use Unsecured Loans when Cash Flow Covers Payments
“Although I caution anyone from doing unsecured loans, I have done some... To minimize risk [I make] sure that the money will be invested in a manner that will increase sales and profits at the business and also that the...
TD Bank Expands Embedded Banking with Workday Integration for U.S. Business Clients
TD Bank announced a new embedded banking solution that integrates directly with Workday’s cloud‑based ERP for U.S. business clients. The service lets companies access credit, payments and cash‑management tools within Workday’s workflow, reducing manual hand‑offs. Early adopters will receive a...
Deutsche Bank Repeats Risky Credit Expansion Despite Past Missteps
When the financial crisis was heating up, geniuses at Deutsche Bank opted to buy more "highly rated" tranches of mortgage backed securities. With that in mind, when I see that DB says they are expanding their private credit exposure, I...
Global Doubt Threatens US Debt Sustainability
New NYT Opinion from me: The debt math of the United States only works if the rest of the world believes in it… but they’re starting not to. What does that mean for our future (and for all this debt)?...
Michelle W Bowman: Liquidity Resiliency, Financial Stability, and the Role of the Federal Reserve
Michelle Bowman opened a roundtable on the U.S. bank liquidity framework, reviewing the Liquidity Coverage Ratio, Net Stable Funding Ratio, internal stress testing and resolution planning. She argued that fifteen years after the financial crisis, these tools often create excess...
Ripple Initiates $750M Buyback, Valuation Jumps to $50B
NEW: Ripple launches $750M share buyback, values company at $50B, up from $40B in November
Iceye Revenue Doubles to $294M, Targets Another Double
.@Iceye 2025 financials: Revenue doubled, to $294M, & will double again this year; $153M in operating cash flow; EBITDA over $176M; $1.76B in backlog. https://t.co/FaGdnli5TX https://t.co/IqCzJ853gK
2028 Will Force Massive Software Debt Rollovers
A lot of software debt is going to have to be rolled over in 2028. Via Torsten Slok https://t.co/Ddov6qo7ey