JPMorgan, Greek fintech, claim success in London court
Wall Street bank JP Morgan (JPM.N), and Greek fintech boss Haris Karonis both claimed success on Thursday in a London court battle over how to value a joint business, paving the way for its potential sale. Karonis’s WEREALIZE.COM (WRL), the majority owner of Athens-based Viva Wallet, has accused JP Morgan of trying to hamper the growth […]
ING to set up European investment bank hub in Madrid, Cinco Dias says
Dutch bank ING (INGA.AS), opens new tab plans to set up its new investment banking unit’s European headquarters in Madrid, Spanish daily Cinco Dias reported on Wednesday. The Dutch bank, present in Spain since 1999, has focused in recent years on growing in corporate banking, whose revenues rose 21% in 2023 to 208 million euros ($224 million). […]
SocGen struggles to strike deal for custody unit, sources say
Societe Generale (SOGN.PA), opens new tab is struggling to agree a deal for its securities services unit, with potential bidders baulking at the price the French bank wants for the business, sources close to the matter said. France’s third-biggest listed lender has been trying to offload Societe Generale Securities Services (SGSS) since last year, the sources said, […]
Cognizant to acquire Belcan for $1.3 billion
Information technology services provider Cognizant Technologies (CTSH.O), opens new tab said on Monday it has agreed to acquire digital engineering firm Belcan for nearly $1.3 billion in cash and stock. The deal would expand Teaneck, New Jersey-based Cognizant’s footprint in the aerospace, defense, space and automotive sectors. Cincinnati-based Belcan, which has been owned by private equity firm […]
Goldman Sachs raises S&P 500 year-end target to 5,600
Goldman Sachs has raised its 2024 year-end target for the S&P 500 Index (.SPX), to 5,600 from 5,200, citing strong earnings growth by five mega-cap U.S. tech stocks and a higher fair value price-to-earnings ratio multiple. Microsoft (MSFT.O), Nvidia (NVDA.O), Google (GOOGL.O), Amazon.com (AMZN.O), and Meta Platforms (META.O), have collectively surged by 45% and now comprise 25% of the S&P 500 equity […]