Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday.Politicsread more
The agreement, which is on the framework for the plan of adjustment, provide for more than a 60% average haircut for all $35 billion, a 36% haircut on pre-2012 general...Bondsread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
The newspaper wrote that Goldman's executive are hoping CEO David Solomon's changes to a firm that historically thrived in investment banking and trading will boost its...US Marketsread more
The Fed is not likely to make a move on interest rates when it meets next week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
With uncertainty keeping a lid on U.S. stocks, Ed Clissold of Ned Davis Research says the rest of 2019 is likely to be a "choppy," but somewhat opportunistic, ride for...Futures Nowread more
Worldwide dealmaking for 2018 topped the $2 trillion mark this week, on track for the biggest year for mergers and acquisitions ever, according to data from Thomson Reuters Deals Intelligence.
Global mergers and acquisitions had their strongest start to a year ever, totaling $1.2 trillion in the first quarter and that action has continued in the second quarter. Media, telecom, consumer staples, healthcare and retail sectors have been especially hot.
This week began with a standout "Merger Monday" of announced deals:
General Electric confirmed it will merge its transportation business with U.S. manufacturer Wabtec in an $11.1 billion deal. Data firm IHS Markit said it will buy smaller rival from private-equity funds of Blackstone and Goldman Sachs for $1.86 billion, and U.S. regional bank Fifth Third Bancorp announced a $4.7 billion deal to buy MB Financial. Meanwhile, Blackstone said it would buy U.S. hotel owner LaSalle Hotel Properties for $3.7 billion.
Global deals year-to-date
Source: Thomson Reuters Deals Intelligence Data as of May 21, 2018
Tax cuts helped set the stage for the recent boom in deals.
The Republican tax reform bill, which was signed by President Trump in December, lowered the corporate tax rate to 21 percent from 35 percent and made it cheaper for multinational companies to repatriate foreign cash. Companies have been putting putting the extra savings to work with additional investments.
The value of M&A deals globally increased 67 percent year-on-year in the first quarter, Thomson Reuters data shows but the number of deals dropped by 10 percent, reflecting that the average size of deals is getting bigger.
Among the mega- deals this year; U.S. health insurer Cigna Corp said it will acquire U.S. pharmacy chain Express Scripts for $67 billion, and German utility E.ON SE announced a $38.5 billion deal to buy RWE AG's renewable energy business.
On the regulatory front though, there is still uncertainty. The U.S. Department of Justice sued to block AT&T's $85 billion deal to buy Time Warner over antitrust concerns, and later called the deal "illegal" and "harmful" to consumers.