Thoma Bravo Hands Medallia to Lenders in One of PE’s Biggest Losses
Thoma Bravo has transferred ownership of Medallia to its senior lenders after the software‑as‑a‑service firm defaulted on its debt, marking one of the largest losses in private‑equity history. The firm bought Medallia for $6.2 billion in 2021, but a post‑IPO slump and rising rates left the company unable to service its $2.5 billion debt load. Lenders will now run Medallia while Thoma Bravo absorbs a multi‑billion‑dollar write‑down, underscoring the sector’s exposure to higher financing costs.
SpaceX Leapfrogs Amazon to Become World’s Fourth-Most Valuable Company
SpaceX’s latest financing round lifted its valuation to roughly $150 billion, propelling the rocket firm ahead of Amazon and into the rank of the world’s fourth‑most valuable company, trailing only Apple, Microsoft and Alphabet. The $5 billion raise was led by existing...
Oil Sinks Below $80 a Barrel as Traders Bet Strait of Hormuz Flows Will Return
Oil prices slipped below the $80 per barrel mark as Brent settled around $79.8, reflecting traders' optimism that oil shipments through the Strait of Hormuz will resume after a brief disruption. The dip follows a sharp rally earlier in the...
JPMorgan Plans Chase Expansion Into Europe’s Largest Markets
JPMorgan Chase announced a €5bn, five‑year plan to expand the Chase brand across Europe’s biggest economies. The strategy focuses on Germany, France, Italy, Spain and the UK, with a rollout of roughly 200 new branches and a push for digital‑first...
Ukrainian Drone Campaign Chokes Moscow’s Lifeline to Crimea
Ukrainian armed drones have intensified attacks on the transport corridor linking Russia to the annexed Crimean peninsula, striking the Kerch Strait bridge, rail lines and port facilities. The strikes have repeatedly halted freight traffic, delayed fuel deliveries and forced Moscow...
ECB Moved to Rein in Revolut’s ‘Self-Guided Missiles’ in Europe
The European Central Bank (ECB) announced new supervisory measures aimed at curbing Revolut’s rapidly expanding self‑directed investment platform, dubbed “self‑guided missiles.” The rules tighten capital‑adequacy requirements, enforce stricter disclosure of risk, and limit the range of high‑leverage products offered to...
SpaceX’s $1.78tn IPO Asks Investors to Buy Musk’s Moonshots
SpaceX has filed paperwork for a public offering that would value the company at roughly $1.78 trillion, the largest aerospace IPO on record. The filing outlines a multi‑year capital raise aimed at accelerating the Starship lunar lander, expanding the Starlink broadband...
Airlines Face $100bn Hit on Jet Fuel From Iran Energy Shock
Iran’s sudden reduction in oil output, driven by renewed sanctions and internal disruptions, has sent global jet‑fuel prices soaring by roughly 30%. The spike translates into an estimated $100 billion extra cost for airlines worldwide this year. Carriers are scrambling to...
Trump’s Pledge to Unleash a ‘Golden Age’ of US Manufacturing Sputters
Former President Donald Trump promised a "golden age" for U.S. manufacturing, pledging tariffs, tax incentives, and reshoring initiatives. Six months later, few of those measures have been enacted, and production growth remains modest. The administration’s limited legislative wins and ongoing...
HPE Shares Soar 37% on Booming Demand for AI Infrastructure
Hewlett Packard Enterprise’s shares surged 37% after the company reported a wave of new AI‑infrastructure orders that eclipsed prior expectations. Revenue from AI‑focused servers and services jumped roughly 45% year‑on‑year, propelled by strong demand for Nvidia‑powered GPUs. HPE now projects...
Global Asset Managers Capture Just 0.1% of Chinese Market in 5 Years
Over the past five years, global asset managers have barely penetrated China’s investment market, capturing only about 0.1% of total assets under management. The Chinese market, now valued at roughly $12 trillion, remains dominated by domestic firms that control the vast...
Ferrari’s New EV Sparks Italian Angst over Agnelli Legacy
Ferrari has revealed its first fully electric vehicle, marking a historic shift for the iconic Italian marque. The EV, built on a new platform, promises performance comparable to the brand's internal‑combustion models while targeting the premium EV market. Its launch...
Jamie Dimon Says JPMorgan Could Spend up to $20bn on a New Acquisition
JPMorgan Chase CEO Jamie Dimon told investors the bank is prepared to spend as much as $20 billion on a new acquisition. The statement signals a willingness to pursue large‑scale deals rather than relying solely on organic growth. Dimon highlighted that...
Uber Weighs Higher Bid for Delivery Hero After €11.5bn Offer Rebuffed
Uber is reassessing its approach to acquire Delivery Hero after the German food‑delivery group rebuffed an initial €11.5 billion ($12.4 billion) proposal. The rejected bid highlighted the gap between Uber's valuation and Delivery Hero's market worth, which analysts estimate at over €20 billion....
Republican Hardliners Warn Trump Is Giving up Too Much in Iran Talks
President Donald Trump’s team entered intensive talks with Iran to revive a nuclear framework, offering concessions that include limited sanctions relief and a step‑down in enrichment limits. A faction of Republican hardliners, led by former officials and members of the...