Know What's Happening in Finance
Know What's Happening in Finance
Klarna secures $1.7B risk transfer and $2B funding facility to boost lending
Klarna unveiled a $2 billion forward‑flow facility with Elliott Investment Management that will back up to $17 billion of U.S. loan originations over the next three years. It also completed a €1.7 billion Significant Risk Transfer led by Värde Partners, freeing capital for broader lending.
Also developing:
The Governmental Accounting Standards Board (GASB) released a proposed Implementation Guide addressing subsidies under Statement No. 103, Financial Reporting Model Improvements. The guide adds eight new Q&A items and revises Question 4.5 of Implementation Guide 2025‑1. Classified as Category B GAAP, the guidance is authoritative for state and local governments. GASB has opened a comment period ending April 27, 2026 for stakeholders to provide input.
Jumia reported full‑year 2025 revenue of $188.9 million, up 13% year‑over‑year, while GMV reached $818.6 million, a 14% increase. The fourth quarter showed a 34% revenue jump to $61.4 million and a 36% rise in GMV, driven by a 26% surge in active...
Perth‑based Hazer Group reported a strong start to FY26, posting $1.5 million revenue in the first half, primarily from an R&D tax refund and two paid project studies. Operating expenses were cut by 27%, reflecting a leaner cost structure as the...
Morningstar DBRS assigned a BBB rating with a Stable trend to ARC Resources Ltd.'s senior unsecured notes offering, comprising C$400 million at 3.349% due 2029 and C$550 million at 4.104% due 2033. The company plans to use net proceeds to refinance existing...
How much money is too much money for employees to take out in a secondary? What are the appropriate guard rails to run a tender offer as a CFO? And is the rise of SPVs helping or hurting the reputation...
The IRS and Treasury announced they will issue proposed regulations under Section 987 to modernize how foreign currency gains and losses are calculated for qualified business units. Notice 2026‑17 introduces an election for the equity‑and‑basis pool method, mirroring a 1991 proposal, and...
Los Angeles Water and Power’s pension fund announced it will accelerate private‑equity pacing even as cash‑flow deficits persist. The plan calls for expanding exposure to European buyout opportunities and secondary market deals beginning in 2026. By targeting these asset classes,...
The European Securities and Markets Authority (ESMA) has released draft Regulatory Technical Standards (RTS) detailing new clearing thresholds under EMIR 3. The proposal retains five threshold categories, clarifies calculation timing, and enhances the trigger mechanism’s stability. ESMA also suggests higher thresholds...
A&D Mortgage issued $602.7 million of non‑prime residential mortgage‑backed securities (RMBS) through its 2026‑NQM2 transaction, backed by 1,793 loans with four months of seasoning. The pool is dominated by single‑family homes (68.4 %) and condos (20.5 %), with 48.1 % of borrowers self‑employed and...
Domo trades at 0.8x ARR and just announced they are formally looking to sell. While they have a "cheap" multiple, revenue growth is 0% and they are barely FCF breakeven. I.e. the unit economics are broken. But might make sense to the...
Canada Pension Plan Investment Board (CPP Investments) is evaluating secondary market sales to trim its older private‑equity exposures. The fund intends to allocate roughly C$20 billion to new private‑equity commitments this year, according to global head of PE Caitlin Gubbels. By...
JPMorgan Chase disclosed a $19‑$20 billion annual technology budget, earmarked for AI, cloud infrastructure, and data integration. More than 80% of its applications now run on modern platforms, with over 70% in public or private clouds, enabling real‑time processing and automated...
The U.S. Department of Energy is finalizing a $26.5 billion loan package for Southern Company that will support more than 16 GW of baseload projects, including 5 GW of new gas, 6 GW of nuclear upgrades, battery storage, and over 1,300 miles of transmission. The...
The Clearing House’s Real‑Time Payments (RTP) network set two historic milestones, processing 2.05 million transactions in a single day on Feb. 13 and reaching a daily value peak of $8.36 billion on Feb. 18. The surge reflects accelerating adoption among retail users, digital‑wallet transfers,...
Truist’s private‑wealth division is now offering spot Bitcoin exchange‑traded funds from Fidelity and BlackRock, both SEC‑registered. The ETFs give high‑net‑worth clients regulated crypto exposure through advisors or the self‑directed Truist Trade platform. The launch follows regulatory clarity from the GENIUS...
The Trump administration announced an "America First" investment drive that has secured more than $5 trillion in pledges from foreign governments for projects across defense, technology, energy and infrastructure. The deals are framed as reciprocal arrangements, linking tariff relief to partner...
EU financial and non‑financial counterparties using ISDA SIMM must have filed an initial IM model application with their competent authority or the ECB, and those that have already applied need to submit an updated version by 31 March 2026. The update must reference...
Stop trading with Excel. Start trading with Python. Portfolio optimization is literally 4 lines of Python code:
Bloomberg Intelligence surveyed 100 senior CIOs and CTOs at leading asset managers and found a stark gap between AI hype and actual spend. While AI dominates boardroom discussions, roughly 70% of firms allocate less than 10% of operating expenses to...
Tokenized US Treasury market grew to $10.8 billion, up $1.9 billion since the start of 2026. The sector has expanded 50× since 2024, propelled by BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), now worth over $1.2 billion. Growth persisted despite a broad crypto...
Michigan House Speaker Matt Hall unveiled a property‑tax reform that would cut roughly $4.9‑$5 billion in revenue by eliminating the State Education Tax, personal‑property tax, real‑estate transfer tax and the so‑called pop‑up tax. Hall said schools and local governments would be...
Are you paying a 50% tax you didn't vote for? You're just gifting it to your customers instead of the government. Here's how: Say you're a store doing $3M at 10% margins makes $300K in profit. You finally raise prices 15%, something that's LONG...
Deputy CIO of Oaktree Capital, Hobbs, told the NEXUS 2026 conference that private‑credit spreads have stopped falling and now sit on a floor, turning a challenging market into a source of value. He explained that tighter bank lending and higher...
Enterprises are shifting digital‑asset wallets from consumer‑grade tools to core financial infrastructure, emphasizing security, scalability, and compliance. Multi‑Party Computation (MPC) has become a standard for distributed transaction signing, reducing single points of failure. Vendors are evaluated on access controls, integration...
JPMorgan Chase & Co. and Bank of America are urging clients to buy Venezuelan global bonds that carry large amounts of unpaid interest, known as accrued coupons. The banks argue that these distressed securities could deliver outsized returns if Venezuela...
She started as the only female math major in her class. Now she runs a $5T global platform at JPMorgan. Next stop: $10T AUM.
The last time they increased the compulsory VAT registration was circa 2009. Fun Fact: R1 million Rand in 2009 ( the last time they adjusted VAT registration ) is roughly equivalent to R2.2-R2.3 million. Inflation adjusted it’s now about the...
Columbus Mayor Andrew Ginther unveiled a $500 million affordable‑housing bond framework dividing funds into four buckets: $150 million for new construction and preservation, $125 million for transitional shelters, homeowner upgrades and supportive housing, $175 million for land acquisition linked to transit‑oriented and mixed‑use development,...
Mortgage demand to buy houses just plummeted to its lowest level in 10 months. The MBA mortgage purchase index is now at 150. 57% crash from pandemic peak. 40% drop from 2018-2019 levels. It's the biggest homebuyer strike ever. https://t.co/FVB0HYY4bc
CFOs can slash phone‑system expenses by retiring desk phones, renegotiating VoIP contracts, adopting Unified Communications as a Service (UCaaS), and deploying AI‑driven voice agents. A typical 250‑employee firm spends over $1,200 per employee annually on mobile enablement and $15,000‑$120,000 on...
MyGate reduced its FY25 net loss by 61% to ₹15.4 cr, down from ₹39.7 cr a year earlier. The turnaround was driven by an 80% surge in operating revenue, which reached ₹173.5 cr. Advertising now accounts for roughly two‑thirds of total income, while...
The rolling 40-day (2 month) correlation between $USDJPY and the US-Japan 2-year yield spread has rebound to a stronger positive (+0.6) after 10 months of inversion. Will it just start syncing up or will this gap in carry standing close?...
A recent chart from McKinsey’s Global Private Markets Report shows that private‑equity fund performance is now driven primarily by portfolio‑company revenue growth rather than financial engineering. The data indicate that growth‑focused strategies generate the bulk of returns across vintages, eclipsing...
Private equity’s image as a ruthless raider is outdated; today firms focus on partnership and growth. They acquire companies through negotiated deals, often allowing sellers to retain equity, aligning incentives. While cost efficiencies remain a tool, sustainable value stems from...
April has introduced an AI‑driven tax platform aimed at wealth managers and financial advisors, usable as a standalone solution or embedded within existing systems. The platform delivers a real‑time dashboard that surfaces client tax workflows, documents, and financial insights, while...
GD Culture Group’s board approved the sale of a portion of its 7,500‑bitcoin reserve to finance a $100 million share‑repurchase program. The Bitcoin stash, now worth roughly $497 million, reflects a $344 million unrealized loss from its $841.5 million acquisition cost. Management retains discretion...
Payoneer has filed an application with the Office of the Comptroller of the Currency for a U.S. national trust bank charter, to be branded as PAYO Digital Bank. The charter would let the firm issue, send and receive stablecoins, provide...
USALI’s 12th Revised Edition introduces an Energy, Water, and Waste (EWW) schedule that obliges hotels to report both the cost and volume of water usage in their financial statements. The new water account separates municipal water and sewer expenses, requiring...
Experienced high‑net‑worth investors must act before the 2025/26 tax year ends to capture the remaining allowances in EIS, SEIS and VCT schemes. VCT offers are already 87‑94% subscribed, with final allocations closing as early as 23 March and the last VCT...
Boaz Weinstein, founder of Saba Capital, warned that the private credit market is entering a turbulent phase after Blue Owl Capital’s recent liquidity strain. Blue Owl has limited withdrawals and sold loans to satisfy redemptions, causing its shares to tumble...
The 36% tax on unrealized gains in the Netherlands. It's beyond insane. I've asked @arnowellens his take on this and he fully explained what this means for any investor.
Russia's finance ministry announced plans to lower the cut‑off price that triggers the transfer of oil revenues into the budget reserve fund. The move aims to channel more of the declining oil proceeds into the $56 billion reserve to protect it...
Fixed income specialist Cohen & Company announced that its European subsidiary raised €481.5 million for the PriDe IV subordinated insurance debt fund, the firm’s largest European vintage to date. The fund continues the company’s strategy of providing Tier II capital to small and...
AECI reported a record R3.4 billion EBITDA and an 11% margin despite a 4% drop in revenue to R32.1 billion. The company completed most non‑core asset disposals, generating R2.2 billion and cutting net debt to R465 million from R3.74 billion. Earnings per share turned positive,...
The European Banking Authority (EBA) announced it will cease its dedicated monitoring programme for legacy instruments, reaffirming its long‑standing view that such instruments should be phased out. Legacy instruments, which enjoy grandfathering under CRR‑1 and CRR‑2, can blur subordination hierarchies...
EDP Renovaveis reported a 50% jump in recurring net profit for 2025, reaching €330 million, driven by rapid U.S. capacity expansion. EBITDA rose 17% to €1.95 billion, with a target of €2.1 billion for 2026. The company added 2 GW of new capacity, over...
Citrin Cooperman, after private‑equity backing from New Mountain in 2021 and a Blackstone stake in 2025, rolled out a firm‑wide "P unit" program that gives every employee a share of the firm’s equity growth. The participation units vest based on...
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Blu Label Unlimited reported a R5.2 billion net loss linked to its Cell C investment, yet posted a R389 million profit after stripping out Cell C items. Revenue rose 19% to R8.64 billion, while EBITDA swung to a R4.1 billion loss. The group completed Cell C’s JSE...
21Shares has launched the Strategy Yield ETP (ticker STRC NA) on Euronext Amsterdam, giving European investors direct exposure to Michael Saylor’s Strategy preferred stock. The product is backed by Strategy’s 717,722 BTC treasury—valued around $47 billion—and offers a variable 11.25% annualized dividend. It marks...
