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M&A Deals Capital Markets

Trading platform eToro to go public through SPAC merger

Online broker eToro has agreed to go public at a $10.4bn valuation by merging with Fintech Acquisition Corp V, a special purpose acquisition company (SPAC) set up by banking veteran Betsy Cohen, in one of the largest SPAC deals so far this year. The Israeli stockbroking and spread betting platform […]

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Capital Markets Macroeconomic News

Supreme Court rules against Uber in landmark employment case

On Friday February 19th, following a lengthy legal fight, Uber lost a momentous battle at the Supreme Court in one of the most significant employment cases in recent decades. The UK’s highest court ruled against the firm, concluding that its drivers should be classed as workers rather than independent third-party […]

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M&A Deals Capital Markets

Fertitta Entertainments to go public through SPAC merger

Billionaire Tilman Fertitta is taking his restaurant and casino empire public by merging with Fast Acquisition Corp, a special purpose acquisition company (SPAC) that raised $200m in its IPO in August 2020, taking advantage of recent investor enthusiasm for SPAC deals. After a difficult period for the company due to […]

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Capital Markets

Roblox joins end-of-year rush to go public

Online gaming platform Roblox filed to go public last week, joining a host of other technology companies looking to take advantage of the surging stock market conditions, particularly in recent weeks, with higher investor optimism being helped along by good news about virus vaccine trials. Roblox’s public debut will further […]

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Macroeconomic News

Building up the property market

Despite the UK entering its largest-ever recession this year, with the economy shrinking by more than 20% in Q2, house prices have shown strong growth, rising by 5.8% year-on-year to reach a record high of £227,826 in October 2020, the biggest annual rise in almost 6 years. The UK property […]

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Macroeconomic News

Coronavirus spending spree pushes national debt to an all-time high

Introduction The cost of coronavirus-related government expenditure in recent months has sent the UK national debt above the £2tn mark in August 2020 for the first time since records began. National debt now stands at more than the value of the economy – representing 101.9% of GDP. The central government’s […]

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Macroeconomic News

Did eating out help out the UK economy?

Introduction In an attempt to aid the UK economic recovery, Chancellor Rishi Sunak introduced the “Eat Out to Help Out” Scheme in early August, which received over 130 million claims during its course of operation. The scheme, which provided discounts on food and drinks in participating restaurants, was aimed to […]

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Capital Markets

Yum China to raise $2.2bn in Hong Kong secondary listing

Introduction Fast-food company Yum China, which operates Pizza Hut, KFC, and Taco Bell in China, has become the latest New York-listed Chinese company to pursue a secondary share sale in Hong Kong amidst rising tensions between Washington and Beijing, which have reached their worst state in decades. Pricing its shares […]

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Capital Markets

Airbnb files to go public

Introduction Airbnb has filed a confidential draft registration statement with the US Securities and Exchange Commission for an IPO, which is likely to be one of the biggest this year. With this announcement, the accommodation booking company becomes the latest to join numerous other companies looking to go public to […]

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M&A Deals

Advent International’s €1bn acquisition of Hermes

Introduction Advent International, a US-based private equity firm, will acquire the majority of Hermes’s operations in the UK, as well as a smaller stake of Hermes’s German business, from German mail group and e-commerce company Otto Group in a €1 billion deal. This comes as the surge in demand in […]

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M&A Deals

Seven & i Holdings acquires Speedway in a $21bn deal

Seven & i Holdings, owner of 7-Eleven, will acquire leading convenience store and gas station chain Speedway from the current owner, Marathon Petroleum, for $21bn, 5 months after the Japanese retail giant stopped talks amidst the coronavirus pandemic. This deal, being the biggest acquisition by Seven & i and one […]

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Equity Research

Amazon – surging through the pandemic

In early July, Amazon’s market value topped the $1.5 trillion mark for the first time, becoming just the third company to reach this landmark achievement after Apple and Microsoft. Amazon’s shares are currently trading at $3124.18, up 44.0% since the pre-virus peak in mid-February and up 64.6% year to date, […]