Finance

• We’re All on Starship Elon Now
• SpaceX Strikes Rare Deal to Pay $0 to Bankers for IPO Greenshoe
  SpaceX, which had already negotiated to pay razor-thin fees on its record initial public offering, somehow managed to get an even better deal out of its investment bankers.
• Apollo Leaning Toward Austin as City for Second US Headquarters
  Apollo Global Management Inc. is leaning toward Austin as the site of its second US headquarters, according to people with knowledge of the matter.
• Paramus Park Mall in NJ Heads to Receiver After Value Tumbles 70%
  New Jersey’s Paramus Park mall, part of a shopping center portfolio that Brookfield Corp. bought for $15 billion in 2018, is being returned to mortgage investors after the property value was slashed more than 70%.
• Robinhood Clients Face Issues in Early Moments of SpaceX Trading
  Robinhood Markets Inc. customers faced issues during the highly anticipated first minutes of SpaceX trading on Friday.
• Citadel Backs Hedge Fund Toms Capital With $500 Million in Rare Move
  Ken Griffin’s Citadel has backed Benjamin Pass’s hedge fund Toms Capital Investment Management in a rare move to allocate cash to an external money manager.
• Elon Musk Is World’s First Trillionaire After SpaceX IPO
  In a post on the social media platform he owns, Elon Musk recently lamented, “Whoever said ‘money can’t buy happiness’ really knew what they were talking about.”
• Sanctioned Billionaire-Linked Firm, Brookfield Eye Gulf IVF Deal
  LetterOne Holdings, the investment firm co-founded by sanctioned Russian billionaire Mikhail Fridman, is among bidders shortlisted to acquire a stake in fertility business Fakih IVF, in a deal that could rank among the largest healthcare transactions in the Middle East.
• Five Ways to Measure Musk’s $1 Trillion Fortune
• Brazilian Bank Apologizes for Liquidation Alert Sent by Mistake
  Nu Holdings Ltd. co-founder Cristina Junqueira apologized to Nubank customers who received an app alert telling them the bank had been liquidated, saying it was sent by mistake.
• L Catterton in Talks for Stake in Hyrox Fitness Brand, Sky Says
  LVMH-backed private equity firm L Catterton is in exclusive talks to buy a stake in extreme fitness brand Hyrox, according to Sky News.
• China Issues Guidelines to Classify Financial Information Data
  China issued guidelines on classifying and grading financial information service data, providing a framework to implement existing data security laws.
• HSBC Said to Have $400 Million Exposure to Ailing UAE Firm IFFCO
  IFFCO Group, one of the Middle East’s largest consumer goods companies, has emerged as an unwelcome headache for HSBC Holdings Plc at a time when Chief Executive Officer Georges Elhedery is trying to make the British lender leaner, simpler and more disciplined with capital.
• Times Square’s New Year’s Eve Ball Joins SpaceX Takeover of NYC
  Even the iconic New Year’s Eve ball is getting involved in the SpaceX IPO celebrations.
• SpaceX Rented Out Computing After Own Teams Had Trouble Using It
  SpaceX decided to rent out the full capacity of its Colossus 1 data center in Memphis to Anthropic PBC after encountering technical challenges using the facility to develop and run its Grok artificial intelligence models, according to people familiar with the matter.
• Trump Turns to Wall Street Power Lawyer Clayton to Calm Pulte Uproar
  In Donald Trump’s chaotic second term, Jay Clayton is emerging as one of the few people the president turns to when he’s in a pickle.
• NYC Pensions Seeks Bids for Index Funds Run by BlackRock, State Street
  New York City’s pension system said it’s seeking bids for roughly $92 billion of stock index-tracking funds now overseen by BlackRock Inc. and State Street Investment Management.
• Buy Toll, Sell Lennar as Rich Homebuyers Outpace First-Timers
  An economy that’s been good for the rich makes shares of high-end homebuilders a better bet than those focused on entry-level buyers, according to one Wall Street analyst.
• From London to Sydney, Traders Ready to Watch SpaceX’s Debut
  Investors and retail traders from across the US and around the world were glued to their screens on Friday as Elon Musk’s SpaceX started trading in the stock market after the biggest initial public offering in Wall Street history.
• Korean Media Giant JoongAng’s JTBC Defaults, Downgraded to Junk
  JTBC Co. Ltd., the broadcaster owned by South Korea’s media giant JoongAng Group, defaulted on securitized loans and was downgraded to junk by a local ratings firm, triggering a series of rating cuts across the conglomerate.
• Coal Clash Pits Billionaire Against Canadian Country Music Star
  Australia’s richest woman wants to mine coal in the Rocky Mountains and one of Canada’s most famous country music singers has built a coalition of ranchers, fishermen and environmentalists to stop the project.
• CFTC Considers Blocking CME’s 24/7 Oil Contract Bid
  The US Commodity Futures Trading Commission is considering whether to block CME Group Inc.’s bid to launch a round-the-clock oil contract, heightening tensions between the market stalwart and its regulator.
• Biggest Shipment of US Fuel to Cuba Since 1960 Is Off as Blacklist Expands
  A Florida oil trading house that was set to dispatch the largest US fuel shipment to Cuba since 1960 is shelving plans after the Trump administration ramped up pressure on the island.
• Traders Are Most Positive on US Dollar Since February 2025
  Traders turned the most optimistic on the US dollar in more than a year as the war in the Middle East supports the currency’s status as a haven.