Know What's Happening in Finance
Know What's Happening in Finance
JD.com prices $1.4B offshore notes to fund corporate needs
On April 1, JD.com Inc. priced a CNY 10 billion ($1.4 billion) offshore senior unsecured notes offering. The issue includes a CNY 7.5 billion ($1.05 billion) 2031 tranche at 2.05% and a CNY 2.5 billion ($350 million) 2036 tranche at 2.75%, with closing expected around April 10 and listing on the Hong Kong Stock Exchange. Proceeds will be used for general corporate purposes.
Also developing:
Netflix has terminated its pending purchase of Warner Bros. Discovery's studio assets, ending months of negotiations. The withdrawal leaves deal advisors scrambling and could reshape financing activity in the entertainment sector.
Analysts say Tesla's robotaxi ambitions are jeopardized after the U.S. safety regulator broadened its Full Self‑Driving probe to 3.2 million vehicles, a move that could force a costly recall and erode the $1.2 trillion valuation built on future autonomous‑ride revenue.
The FTSE 100 jumped 1.2% on Tuesday, buoyed by signs of a diplomatic thaw in the Middle East and expectations that UK inflation data could support a softer monetary stance. Traders cited the rally as a barometer of renewed risk...
Remitly announced that Tai-Hong Fung will become chief accounting officer on April 1, taking over from retiring Luke Tavis. The move follows a recent CEO transition and signals a focus on tighter financial oversight as the Seattle‑based remittance platform accelerates growth.
Dollar Tree reported Q4 2025 revenue of $5.5 billion, up 9% year‑over‑year, and adjusted diluted EPS rose 21%. The discount retailer also lifted its FY2026 sales outlook to $20.5‑$20.7 billion while outlining a 400‑store expansion plan.
UK government bonds surged as the 10-year gilt yield briefly crossed the 5% mark on March 20, the highest level since the 2008 crisis. Traders link the jump to inflation pressures from the Iran‑Israel war and worries that the Treasury’s...
The Swiss National Bank disclosed that 2025 delivered a record volume of new Swiss franc bond issuances and a surge in issuers, signaling deeper market liquidity. While exact figures were not disclosed, the report came alongside the SNB’s decision to...
Goldman Sachs increased its estimate of a U.S. recession this year to a 30% probability, up from 25% a week earlier. The revision reflects tighter labor markets, higher oil prices and diminishing fiscal and monetary headroom. Competing forecasts from peers...
JPMorgan Chase has kicked off an $8 billion junk‑bond sale to finance a $55 billion leveraged buyout of Electronic Arts, the biggest LBO in history. The deal, led by Saudi Arabia’s Public Investment Fund, Silver Lake and Jared Kushner’s Affinity Partners, mixes...
Muddy Waters Research issued a 28‑page short thesis on SoFi, alleging that the neobank’s fair‑value adjustments and loan‑sale structures inflate EBITDA by hundreds of millions. The report highlights $1.1 billion in personal‑loan fair‑value gains and a potentially understated charge‑off rate of...
Invesco has taken control of Superstate’s $900 million tokenized Treasury‑bill fund, USTB, expanding its digital‑asset lineup. The deal keeps Superstate as the technology partner and underscores a broader shift toward real‑world asset tokenization on blockchain.
The University of California announced it will sell a roughly $3 billion portfolio of limited‑partner (LP) stakes in private‑equity funds. The move is part of a broader strategy to rebalance its $140 billion endowment and generate cash for upcoming capital needs. UC...
Gartner warns CFOs that AI investments cannot be evaluated with a single ROI formula. Instead, AI should be treated as a diversified portfolio comprising routine productivity tools, targeted process improvements, and transformational initiatives. Each use case carries distinct cost curves,...
Florida Chief Financial Officer Blaise Ingoglia appeared on Fox Business In Depth to outline the state’s aggressive fraud‑prevention strategy targeting misuse of public assistance programs. He detailed a multi‑pronged approach that includes real‑time data analytics, cross‑agency task forces, and a...
Partners Value Split Corp. reported $94 million of income available for distribution for 2025, up from $85 million the prior year, driven by higher Brookfield dividend rates. Net comprehensive income dropped to $1.35 billion, reflecting weaker unrealized gains on its Brookfield holdings. The...
Partners Value Investments Inc. reported its 2025 financial results, showing a net loss of US$1.4 billion, a significant improvement from the US$3.8 billion loss recorded in 2024. The reduction stemmed mainly from lower remeasurement losses on retractable common shares, which fell to...
Partners Value Investments L.P. posted 2025 net income of $69 million, down from $74 million a year earlier, as foreign‑currency translation losses outweighed higher investment income and valuation gains. The partnership’s fully diluted net asset value (NAV) climbed to $9.59 billion, up 21%...
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Preferred stocks blend equity and debt traits, featuring a fixed face (par) value that determines dividend calculations, while their market value fluctuates with investor sentiment and interest rates. The article explains how callable and retractable preferreds differ, noting that issuers...
Australian investors are reviving the concept of US asset recycling as a way to bridge America’s massive infrastructure funding shortfall. The approach involves selling or leasing existing public assets to private capital, then repurchasing them later, freeing up cash for...
Stoneweg Europe Stapled Trust (Sert) has committed €50 million (≈ $54 million) to AiOnX’s data‑centre development fund through a mandatory convertible loan. The loan carries a 7.25% cash coupon, equating to roughly €3.6 million ($3.9 million) per year, and is expected to lift AiOnX’s distribution...
Private credit is emerging as a key financing tool for airport infrastructure, complementing traditional private‑equity models. Unlike equity investors, credit providers supply debt without taking ownership, reducing risk exposure for both parties. The trend is driven by public‑private partnership structures...
GameStop reported a decline in hardware and software sales for FY 2025, while collectibles revenue topped $1 billion and made up 29.2% of total revenue. The retailer also saw its directly registered shares fall to 66.2 million and its Bitcoin holdings lose...
Foreign issuers pushed panda bond sales in mainland China to 27.8 bn yuan ($4 bn) in March, more than tripling year‑to‑date volume. The surge comes as the Iran war pushes borrowers toward the yuan‑denominated on‑shore market, marking a record month for foreign...
Amazon has purchased New York‑based Fauna Robotics, the two‑year‑old startup behind the $50,000 Sprout kid‑size humanoid robot. The deal, whose financial terms were not disclosed, expands Amazon’s robotics reach beyond warehouse automation into the emerging personal‑robot market.
Something I wish more people knew before working with a bookkeeper — when I connect to your bank account, I get view-only access. That means I can see statements and activity but I genuinely cannot transfer money, pay anyone, or...
A thread on some work in progress, on China's US bond portfolio As the chart below shows, China's cumulative current account surplus has increased by $3 trillion since the end of 2019 -- and inflows into the US in the US...
Pagaya Structured Products is launching a $586.2 million asset‑backed securities (ABS) program backed by unsecured consumer loans from 11 partner lenders. The deal comprises 15 note classes, most maturing on November 15, 2033, with the senior A1 tranche extending to April 15, 2027. Credit enhancement...
Dolphin Entertainment reported fourth‑quarter 2025 results on March 25, 2026, highlighting $112 million in revenue, a 9% year‑over‑year increase driven by its streaming‑content licensing segment. Adjusted EBITDA posted a $4.3 million loss, while the company ended the quarter with $38 million in cash and a...
Aswath Damodaran on how the focus of a business changes depending on the company's lifecycle Companies that don't act their age will destroy value
Thailand’s caretaker finance ministry plans to redirect roughly 300 billion baht (about $8.4 billion) into the central budget to fund the “Khon La Khrueng” co‑payment scheme and urgent emergency projects. For fiscal 2026, 861 billion baht ($24 billion) is slated for investment, but 41% ($9.9 billion) remains...
Ascentage Pharma reported unaudited 2025 results, showing product sales surged 90% to $82.1 million while total revenue fell 41.5% after a $92.9 million drop in intellectual‑property income. Olverembatinib generated $62.2 million, up 81% YoY, and the newly launched Lisaftoclax contributed $10.1 million in its...
Paramount's pending acquisition of Warner Bros. Discovery faced a surprise eleventh‑hour bid from Singapore‑registered Nobelis Capital, offering $32.50 per share in cash. The proposal lacked disclosed financing or a definitive agreement, prompting Warner’s board to label it a likely non‑serious...
The article outlines a "positional decoupling" regime where institutional crowding in high‑growth large‑cap stocks creates a liquidity window for exits, overriding traditional macro signals. A March 26 2026 case study shows declining U.S. 10‑year yields and VIX prompted investors to shift from...
G Mining Ventures Corp. posted strong Q4 and full‑year 2025 results, marking the first full year of commercial production at its Tocantinzinho mine with 171,871 ounces of gold produced. The operation generated $255 million in free cash flow and $288 million in...
Snowy Hydro’s flagship Snowy 2.0 pumped‑hydro scheme, a 2,200 MW storage project, is projected to breach its $12 bn AUD (≈$7.9 bn USD) capex by fiscal 2026, with the work only 70% complete. The federal government has already supplied $5.98 bn AUD (≈$3.9 bn USD) in...
IDB Invest is providing a revolving loan of up to $10 million to Total Servicios Financieros, with an additional $10 million expected from third‑party investors, to broaden financing for Peru’s micro, small and medium‑sized enterprises (MSMEs). The funds will support factoring and financial leasing...
AFL Group posted record fiscal‑year 2025 results, doubling net profit to €10.8 million (about $11.9 million) and lifting net banking income 28% to €30.8 million ($33.9 million). The bank’s gross operating income surged 70% to €13.3 million, while its CET1 capital ratio climbed to 59.45%...
JBS announced record full‑year 2025 revenue of $86.2 billion, a 12% increase over 2024, and net income of $2 billion, up 13%. Earnings per share rose 15% to $1.89, while adjusted EBITDA reached $6.8 billion with a 7.9% margin. Strong contributions came from...
This is a really great divergent policy thought we should keep on our radar. If it comes to fruition, we could see a collapse in treasury yields. Fantastic work from @ericwallerstein ! “The solution: the Fed should expand FIMA access to sovereign wealth...
Canada’s banking regulator OSFI has moved from informal concerns to formal legal warnings that major banks may be breaching the Bank Act by using stale, blanket appraisals for pre‑construction mortgages. The watchdog cites rising default risk as new‑home prices are...
OTC Markets Group released a simplified roadmap outlining eligibility and reporting requirements for its four market tiers, with a focus on upcoming OTCQX rule changes effective April 6, 2026. The amendments raise the minimum market capitalization from $10 million to $25 million, increase required...
The House Financial Services Committee unveiled a new legislative package to reform deposit insurance, featuring a revised Main Street Depositor Protection Act that caps coverage for non‑interest‑bearing business accounts at $5 million, down from earlier proposals of $10‑$20 million. The bill delegates...
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With stablecoins, the banks aren't worried about deposit flight. They're worried about profit flight. These numbers are embarrassing. https://t.co/JZICGB5MWv
The Financial Stability Oversight Council voted to issue guidance that pivots to an activities‑based framework for designating non‑bank firms as systemically important, reinstating the high‑threshold standards first used in 2019. The proposal rescinds the Biden‑era rule that lowered the bar,...
Once Cliff coined (or amplified?) the phrase "Volatility Laundering," everything else became only a matter of time...
New filing for the Cryptex Digital Market Cap ETF (which has chosen the ticker $BAGZ) structured using Cayman subsidiary and looking to hold 30-ish cryptos directly (which would blow away the curr baskets on mkt) if I'm reading it correctly...
Qualified Health announced a $125 million Series B round, bringing its total funding to $155 million and led by NEA alongside a slate of top health‑tech investors. The company offers an enterprise‑wide AI infrastructure platform that replaces fragmented point‑solution approaches. Early adopters such...
Big banks hack their risk weighted assets by treating loans to private credit funds as securities, reducing the weighting from 100% to as low as 20%. Proposed capital rules look to further decrease this to 15%, encouraging more of this...
Apollo Global Management's insurance subsidiary Athene Holding became the second‑largest borrower in the Federal Home Loan Bank (FHLB) system, holding $23.3 billion in principal advances at the end of 2025. This marks a sharp rise from $15.6 billion in 2024 and places...
