Equity Funding Squeeze Driven By AI Rally, SpaceX IPO Stretches BanksThe cost to fund US equity positions is surging unexpectedly, as a combination of the AI-driven stock rally, the massive growth of leveraged ETFs and SpaceX’s $75 billion public listing tests Wall Street’s market plumbing.
Lazard Undercuts Rival Centerview in Battle for Venezuela DealInvestment bank Lazard Inc. is making a late bid to dislodge rival Centerview Partners as Venezuela’s financial adviser, offering to oversee one of the largest-ever sovereign debt restructurings for a sharply lower fee.
IDC, Vision Near Deal to Save Century-Old African Sugar MillsTycoon-backed Vision Group is in talks with South Africa’s Industrial Development Corp. to take an equity stake in sugar refiner Tongaat Hulett in exchange for additional funding, Vision Group shareholder and consortium member Robert Gumede said in an interview.
Diverging Rate Paths Force Reshuffle in Emerging-Market BetsA growing divergence in interest-rate outlooks is forcing emerging-market investors to reshuffle bets.
Wall Street Is Gaining Access to New Catastrophe Models to Help Predict WarsAs Wall Street races to incorporate war into its risk scenarios, the same people modeling natural catastrophes are now adapting their methodology to help investors, banks and insurers predict military conflicts.