All articles tagged with #investment banks
SoftBank is preparing for a potential US IPO of its Japanese payments app PayPay, with Goldman Sachs, JPMorgan, Mizuho, and Morgan Stanley leading the effort, aiming to raise over $2 billion possibly as soon as late 2025, marking SoftBank's first US listing since Arm Holdings.
Wall Street analysts at Citi, UBS, and Goldman Sachs do not anticipate the Federal Reserve cutting rates in June following the release of stronger-than-expected CPI data and the FOMC minutes. Citi believes the case for preemptive cuts is more difficult due to the lack of increased confidence in inflation trends, while UBS has removed the June rate cut from its base case and now looks for the first cut in September. Goldman Sachs has pushed back its forecast of the first rate cut from June to July, expecting cuts at a quarterly pace thereafter.
After a positive week for stocks, investors are looking to maintain momentum with a focus on retail sales data, investment bank earnings, and geopolitical tensions. Retail sales are expected to rise in December, indicating healthy consumer spending. Investment banks like Goldman Sachs and Morgan Stanley are set to report earnings, following strong results from major money center banks. Mixed signals on inflation data have led to increased speculation about potential interest rate cuts by the Federal Reserve. Additionally, upcoming earnings reports from tech giants will be closely watched, as the sector's performance will have a significant impact on the market.
Comcast and Disney have hired investment banks, Morgan Stanley and JPMorgan Chase, respectively, to value Hulu as part of the ongoing process to determine the streaming service's ownership. This comes after an agreement in 2019 allowed either Disney or Comcast to trigger an option for Disney to buy Comcast's 33% stake in Hulu. The banks will provide a fair value for Hulu, and if their valuations are within 10% of each other, the average will be used as the price. If not, a third investment bank will be hired for another valuation. The deadline for the valuation is September 30, and a deal is expected to be reached before then.
Junior bankers on Wall Street are feeling the pressure as rumors circulate that private equity interviews could start at any moment, causing some first-year bankers to skip training sessions and study instead. The early start to private equity recruiting is disrupting the training of new analysts, who are still adjusting to their roles. The process can be intense, with junior bankers calling in sick or interviewing late at night to avoid losing their current jobs. The uncertainty and rumors surrounding the recruiting process are causing anxiety among junior bankers, who are concerned about making the right career choices.
Wall Street banks, including Goldman Sachs and Morgan Stanley, are facing challenges in China's $60 trillion financial market due to a deteriorating geopolitical climate and President Xi Jinping's prioritization of security concerns over economic priorities. Banks are scaling back expansion plans and profit goals, and considering job cuts.