Good morning & greetings from Berlin! '' Today's issue is all about finance behemoths ' We're going to look at Goldman Sachs that's now firing on all cylinders (unpacking the most important numbers, what they mean, and whether Goldman is worth your time & money in 2024 + more bonus reads & deep dives inside), and custody titan State Street which is navigating choppy waters with alpha-bet on technology (breaking down their Q3 2024 financials, what they mean & what can we expect next). So let's just jump straight into the hot stuff '' Earnings calling '' Finance giant Goldman Sachs GS 0.00%' just reported a 45% increase in its third-quarter profit, a sign that lower interest rates, a stable economy, and the bank's work refocusing on Wall Street are paying off '...
Happy Monday! We're starting another great FinTech week, and on today's radar, we have PayPal which just expanded its partnership with Shopify (what it's all about & how to make sense of it + bonus deep dives into PayPal, Shopify & more), and banking giant HSBC which is exploring landmark merger of commercial and investment banking divisions (what this is all about & why it makes sense + a bonus deep dive into HSBC & other banking behemoths). So without further ado let's just jump straight into the interesting stuff '' The news '' Finance behemoth PayPal PYPL 0.00%' has just announced an expansion of its partnership with e-commerce platform Shopify SHOP 0.00%', marking another strategic move in CEO Alex Chriss's mission to refocus the company and drive long-term profitable growth....
Special-purpose acquisition companies (SPACs) have raised funds at substantial rates, attracting more and more high-profile investors. We reviewed the performance of recent SPACsâa mixed track recordâand found a strategy that has produced success: SPACs that are led or co-led by operators rather than solely by investors tend to outperform throughout the deal cycle. One year after taking a target public, operator-led SPACs traded about 10 percent higher than their sector index and much better than other SPACs (a premium of about 40 percent). In this article, we review the changes that have placed SPACs at center stage, and we offer practical suggestions for sponsors that seek to deploy the operatorâs edge.
After some scandals in the 1990s and regulatory reforms in the 2000s, SPACs had a few moments of popularity. However, they generally remained small and developed a reputation as capital sources of last resort.
In the past five years, however, SPACs have reemerged. In 2020, they have attracted unprecedented, market-shifting sums of capital: as of August 2020, SPACs that were actively seeking business combinations held about $60 billion of capital (across more than 100 SPACs) and made up 81 out of 111 US IPOs. 1 1. â2020 IPO market stats,â Renaissance Capital, August 31, 2020, renaissancecapital.com. In one month in 2020, SPACs raised more than they had in all of 2019. While private equity (PE) firms still hold vastly more capital, with an estimated $1.4 trillion in dry powder, many PE firms (or their alums) have also decided to raise SPACs....
SAP is the worldâs leading provider of business software â enterprise resource planning, business intelligence, and related applications and services that help companies of all sizes and in more than 25 industries run better. By extending the availability of software across on-premise installations, on-demand deployments and mobile devices, SAP enables people at the office or in the field to work more efficiently and use business insight more effectively. We believe that the power of our people, products and our partners creates significant new value and unleashes sustainable growth â for our customers, SAP, and ultimately, entire industries and the economy at large....
