February, 2023

• 8 February

  Apollo in talks for stake in Credit Suisse First Boston, says WSJ

    Bloomberg Apollo Global Management Inc. is among investors showing interest in taking a stake in Credit Suisse Group AG’s new investment bank unit, as the lender continues to seek investors to help fund its spin-out, the Wall Street Journal reported. Talks with Apollo are continuing and could still fall apart, the paper reported, without giving further details. Bloomberg reported ...

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• 8 February

  UK postal strike called off on Royal Mail legal challenge

    Bloomberg Britain’s postal workers won’t be going on strike this month after Royal Mail challenged a walkout planned for later this month. The Communication Workers’ Union, which represents over 100,000 post-delivery staff, said Monday that it called off strikes for Feb. 16-17 because it believed a new ballot for further industrial action could be affected if it lost a ...

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• 7 February

  Vanguard eyes bigger slice of Australia’s $2.3 trillion pensions

  

    Bloomberg Vanguard Group Inc. is accelerating its push into Australia’s A$3.3 trillion ($2.3 trillion) pensions market just months after launching its debut fund in the fiercely competitive sector. The US behemoth plans to offer a retirement investment product in the country by mid-year at the earliest, Australian head Daniel Shrimski said in an interview. Vanguard unveiled its debut Australian ...

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• 7 February

  KKR passes $500b in assets despite headwinds

    Bloomberg KKR & Co. passed $500 billion in assets under management during the fourth quarter even as earnings fell 41% on sluggish asset sales. The New York-based firm raised $16 billion of new capital in the quarter to reach $504 billion in AUM, it said in a statement. Distributable earnings fell to $822 million, or 92 cents a share, ...

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• 7 February

  A clear target emerges in tech layoffs: Middle managers

  

    Bloomberg As Meta Platforms Inc., Alphabet Inc. and other Silicon Valley behemoths look to lighten payrolls after years of feverish hiring, a clear target has emerged: the middle manager. Meta will be cutting some layers of management, Chief Executive Officer Mark Zuckerberg said on the company’s earnings call Wednesday, naming 2023 its “Year of Efficiency.” The company let go ...

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• 7 February

  Macron in Scholz’s shadow as Ukraine pressures mount

  

  Bloomberg Days before German Chancellor Olaf Scholz announced that Germany would ship 14 Leopard 2 tanks to Ukraine, French President Emmanuel Macron surprised allies by declaring that France would contribute 18 Caesar cannons and 40 AMX10 armored vehicles, and teased that he was still considering whether to send the embattled country a squadron of more powerful Leclerc tanks. The move ...

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• 7 February

  UK prime minister Sunak plans to reshuffle cabinet after rocky start

  

  Bloomberg UK Prime Minister Rishi Sunak plans to carry out a mini reshuffle of his cabinet in an effort to re-set his premiership after a rocky first 100 days in office, according to people familiar with the discussions. Sunak will appoint a new Conservative Party chair, after he sacked Nadhim Zahawi over a tax scandal more than a week ago, ...

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• 7 February

  India opposition says Modi government afraid of Adani debate

  

    Bloomberg India’s opposition parties said parliament has been repeatedly adjourned as Prime Minister Narendra Modi’s government is “afraid” to discuss their demand for a probe into billionaire Gautam Adani’s fight with a US short seller. Parliament has been adjourned for three days and was briefly suspended on Tuesday as the opposition draws attention to what they describe as Adani ...

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• 7 February

  New Zealand PM Hipkins says he’ll voice disagreements with China

    Bloomberg New Zealand’s new Prime Minister Chris Hipkins said he won’t back away from criticizing China where necessary, as the new leader works to balance economic and diplomatic relations with his largest trading partner. Hipkins traveled to Australia on Tuesday to meet with Australia’s Prime Minister Anthony Albanese for the first time since coming to power. He was sworn ...

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• 7 February

  Credit Suisse bankers in limbo as bonus conversations delayed

  

  Bloomberg Credit Suisse Group AG is delaying a much-anticipated compensation day for some of its bankers, further straining its relationship with employees as it restructures its Wall Street operations, according to people familiar with the matter. The bankers — mainly at managing director or director level — were notified that meetings set for February 7 have been cancelled, pushing back ...

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