Business

Business
Goldman Sachs Head Predicts M&A ‘Pick-up’ in 2025
November 19, 2024

Goldman Sachs Chairman David Solomon has reportedly predicted stronger capital raising under the next Trump administration. Solomon also said Tuesday (Nov. 19) that there will be a more robust merger and acquisition (M&A) environment under the new president. “Given where we are at the moment, … you’re starting to...

Business
Nuvei Becomes a Private Company, Keeping Current Owners
November 15, 2024

Canadian FinTech Nuvei has completed its previously announced go-private transaction. As a result of the completion of the arrangement, the company expects that the subordinate voting shares will be de-listed from the Toronto Stock Exchange around Monday (Nov. 18) and from the Nasdaq Global Select Market...

Business
Vroom Files for Bankruptcy, Says Subsidiaries Not Expected to Follow
November 13, 2024

Automotive finance company and digital services platform Vroom filed for Chapter 11 bankruptcy Wednesday (Nov. 13), saying in a filing with the Securities and Exchange Commission (SEC) that it plans to operate its business as a “debtor-in-possession” under the jurisdiction of the bankruptcy court. None of its subsidiaries are...

Business
Efficient Working Capital Practices Drive Nearly $10M in Bottom Line Benefits for Top North American...
November 13, 2024

The top-performing North American Growth Corporates save nearly $10 million in bottom-line benefits. Why? Smarter working capital strategies play a key role. These firms’ leaders speed up cash cycles, cut borrowing costs and keep suppliers happy — all moves that can give them a real...

Citigroup CEO Jane Fraser: Clients Focused on Launching M&A Activity
November 12, 2024

Pent-up demand for mergers and acquisitions (M&A) activity has been released by the election of Donald Trump, Citigroup CEO Jane Fraser said Tuesday. Speaking with Bloomberg Television, Fraser said the bank’s clients had been waiting to begin M&A activity and are now focused on doing so, Bloomberg reported Tuesday....

Business
Report: Franchise Group Paid $5.7 Million in Bonuses Before Bankruptcy
November 07, 2024

Franchise Group, owner of retailers like Vitamin Shoppe, started off this week by declaring bankruptcy. But as the company was collapsing, it paid insiders $5.75 million in bonuses to keep them in their jobs, Bloomberg News reported Thursday (Nov. 7).  The report, which cited court...

Business
Working Capital Usage Jumps 51% Among Healthcare Growth Corporates
October 31, 2024

The utilization of working capital solutions is on the rise for healthcare Growth Corporates. In 2024, 97% of industry Growth Corporates using at least one such solution, an increase of 51% year over year. The preference for on-demand solutions — such as corporate and virtual...

Business
Report: OpenAI Considers Making Corporate Structure More Attractive to Investors
August 30, 2024

OpenAI is reportedly considering changing its corporate structure to make that structure simpler and more attractive to financial backers. The artificial intelligence (AI) company currently issues investors equity from its for-profit subsidiary, which is governed by its non-profit board whose “principal beneficiary is humanity, not OpenAI...

Business
Pitney Bowes Sells Global Ecommerce Business to Streamline Enterprise
August 09, 2024

Pitney Bowes has sold a controlling interest in most of its Global Ecommerce (GEC) segment operating in the United States to Hilco Global affiliate Hilco Commercial Industrial, which will wind down that business. This move will eliminate nearly all the losses associated with GEC, which amounted to $136 million...