September 23, 2021

A troubling development in markets is flashing a warning sign for tech’s biggest companies

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By Joe Ciolli From Business Insider Tech stocks have been under fire for the past several weeks, with the NYSE FANG+ index dropping 12% since hitting a record high in mid-March. Bank of America Merrill Lynch highlights a statistic that suggests the worst may yet be to come for tech stocks. In the equity market, […]

New bond issue: Banco do Brasil, Grand Cayman Branch issued international bonds

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(USP3772WAH53) with a 4.625% coupon for USD 1,000.0m maturing in 2025 October 19, 2017 – Cbonds October 18, 2017 Banco do Brasil, Grand Cayman Branch issued international bonds (USP3772WAH53) with a 4.625% for USD 1,000.0m maturing in 2025. Bonds were sold at a price of 99.551% with an initial yield of 4.75%. Bookrunner: BTG Pactual, […]

Tesla wants to raise $1.5 billion as it gears up for ‘manufacturing hell’

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By Narottam Medhora and Laharee Chatterjee, Reuters From Business Insider (Reuters) – Tesla Inc said on Monday it would raise about $1.5 billion through its first-ever high-yield junk bond offering, as the U.S. luxury electric car maker seeks fresh sources of cash to ramp up production of its new Model 3 sedan. The debt offering […]

There’s a way to invest in a cleaner environment, and the market is booming

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By Frank Chaparro From Business Insider An increasing percentage of people today are not solely concerned about outsized returns when they invest their money — they also care about the social impact of their investments. That increased interest has partly spurred the growth of socially responsible investment products and “impact investing” on Wall Street. The […]

Record number of fund managers say US equities are overvalued

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From Newsmax Measures of stock valuation have been flashing caution for months. Humans are finally starting to take notice. Fund managers now say stocks are the most overvalued they have been in nearly 20 years, according to a survey done last week by Bank of America Merrill Lynch. Survey positioning data argues for a “March [or] […]

FAI: A bunch of Bank of America customers lost $1.2 million after putting a big chunk of money in Puerto Rico

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From Business Insider FA Insights is a regular newsletter from Business Insider that delivers the top news and commentary for financial advisors. The Financial Industry Regulatory Authority said on Wednesday it fined Bank of America Merrill Lynch $7 million for inadequate supervision of client brokerage accounts that used leverage to buy Puerto Rican municipal bonds and […]

Jim Armitage: Debt-laden and pricey, beware Misys’ private-equity flip

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By JIM ARMITAGE From Evening Standard  UK I don’t doubt that having Misys in the FTSE 100 will be a boost to Britain’s tech scene, particularly with the departure of ARM. But patriotism aside, at this price I don’t want my pension fund to pile into the shares. Vista, the private-equity wizards selling the business from […]

Funds buy German bonds with negative yields as choices narrow

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From Newsmax Funds were the biggest buyers of the first negative-yielding euro bonds sold by a non-financial company, highlighting how central bank stimulus is distorting markets. Deutsche Bahn AG allocated 57 percent of the 350-million euro ($388 million) bond sale to funds, while banks bought 23 percent, according to a person familiar with the matter […]

$415M Merrill Lynch Settlement Spurs SEC to Boost Enforcement

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From Mark Hamblett, From New York Law Journal Gambling with customer money that was supposed to be set aside for its own rainy day cost Bank of America’s Merrill Lynch $415 million in a settlement Thursday and prompted a stepped-up enforcement and monitoring effort by the U.S. Securities and Exchange Commission. Andrew Ceresney, director of […]

A shareholder-unfriendly buyout at Autohome [Will Cayman Islands throw it out?]

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By SHULI REN From Barron’s A buyout of China’s online ad service for car makers and dealers may be unfair to U.S.investors. Will a Cayman court throw it out? Autohome, which provides online advertising services for car makers and dealers, is the latest U.S.-listed Chinese company to leave shareholders with few rewards in a management buyout. […]

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