Author: Press Room

One invitation to start: Our second Business of Sport US Summit begins Monday, October 24. As a Due Diligence subscriber, claim your free digital pass using the promo code Premium22 and purchase access to our VIP in-person discussions and drinks reception in New York. Sign up here.In today’s newsletter:Goldman alums forge the futureElliott pushes Philip Morris to raise its Swedish Match bidKanter gets into his first private equity scrapGoldman grandees Two of Goldman Sachs’s most successful investment bankers over the past two decades, Byron Trott and Gregg Lemkau, are joining forces to build a behemoth $50bn investment and advisory firm to…

To investors, inflation is the monster under the bed which suddenly became real. For 30 years we have been able to ignore its menace. But now, with prices rising by more than 10 per cent a year and the best fixed-rate savings accounts delivering less than 5 per cent, your cash will halve in value in 14 years. We cannot close our eyes and pretend it is not there. This may change the way you view your investments, as well as your risk perceptions. Holding cash has suddenly become less safe. Equities are said to offer long-term protection against inflation, but…

Hungarian low-cost airline Wizz Air is drawing up plans for flights from the UK to the Middle East and Asia as part of an ambitious expansion into the long-haul arena. The London listed carrier, which focuses on the European short-haul market, is planning trips out of the UK to destinations that could include the United Arab Emirates, Israel and Saudi Arabia. It will use some of the 47 new longer-range single-aisle A321XLR planes it has on order from Airbus on the routes, said Marion Geoffroy, the managing director of Wizz Air UK.The narrow body jet took its first flight in…

Investors have in the past month been watching the dramatic moves in the UK government bond market with as much fascination and dread as a horror show: what for years has been seen as a tame house cat has bared its claws and turned into a wild tiger.Almost every time observers hoped the worst might be over, their screens were filled with more carnage. The yield on these bonds (called gilts) soared from 1.1 per cent at the start of 2022 to a peak of 4.99 per cent for the 30-year instrument, before falling back to 4.35 per cent after the…

All energy companies, including oil and gas producers, should pay into a multibillion pound fund to subsidise electricity and gas bills from April, when blanket UK government support ends, one of Britain’s biggest utilities has said.ScottishPower chief executive Keith Anderson proposed the fund to ensure millions of households’ energy bills continue to be discounted after the spring, when they are on average set to top £4,000 a year. New chancellor Jeremy Hunt on Monday announced the government would row back on outgoing prime minister Liz Truss’s pledge to limit typical yearly household bills to £2,500 for two years. Instead the…

Though shops have been pumping out single-stock ETFs since the first products got the regulatory stamp of approval this summer, they still have to overcome at least one hurdle, industry executives say: getting their products into the hands of investors.Two dozen single-stock ETFs have debuted since July, according to data from FactSet Research.But combined, the 23 products only had $156.5mn in assets as of September 15, the data show.The largest is the $53.2mn Direxion Daily TSLA Bull 1.5X Shares ETF, which collected $50.4mn in net inflows from its August 9 launch through September 15, according to FactSet. The second-largest, the…

On October 21, the Bitcoin price was choppy, trading within a narrow range of $18,950 to $19,200, exactly in line with our previous Bitcoin price prediction. In contrast, Ethereum fell less than 1% to $1,282 during the early Asian session.Major cryptocurrencies were trading in the negative early on October 21, with the global crypto market cap down 0.9% to $915 billion on the previous day. DeFi’s total volume was $2.83 billion, accounting for more than 6.40% of the total crypto market volume. Let’s take a look at the top winners and losers so far today.Top Altcoin Gainers and LosersThe top performers in the Asian session were Toncoin (TON),…

CNN  —  An officer with the US Customs and Border Protection was unintentionally shot and killed by a fellow officer during a training exercise at a Florida shooting range, police said Thursday. Jorge Arias was serving as a firearms instructor at Trail Glades Range in Miami on Wednesday when officials say he was accidentally shot by another officer, a spokesperson for Miami-Dade police said. “A U.S. Customs and Border Protection officer working at the agency’s weapons range was injured while on duty,” the agency said in a news release. Arias was airlifted to a hospital for treatment and was later…

The Carolina Panthers have traded Christian McCaffrey to the San Francisco 49ers, a source confirmed to Fox News Digital. The Panthers announced the deal shortly after midnight Friday morning.They began fielding calls on the star running back, but did want to avoid trading him – apparently they got an offer they couldn’t refuse.In return, the Panthers received a second, third, and fourth-round pick in 2023 and a fifth-round pick in 2024, according to multiple reports. Niners’ starting running back Elijah Mitchell suffered a sprained MCL in the opening week of the season, and their mobile QB Trey Lance broke his fibula…

Rome CNN  —  Former Italian Prime Minister Silvio Berlusconi sparked controversy this week when audio released by Italian news agency LaPresse revealed the 86-year-old speaking about his “re-established” relationship with Russian President Vladimir Putin. Berlusconi says in the audio that Putin sent him 20 bottles of vodka and a “very sweet letter” on his birthday last month. His office confirmed with CNN on Thursday that the clips were authentic – apparently having been secretly recorded during a meeting of Berlusconi’s Forza Italia party in the parliamentary chamber on Tuesday. “I sent him bottles of Lambrusco (Italian sparkling wine) and an…