INVESTOR DEADLINE: Oracle Corporation (ORCL) Investors with Substantial Losses Have Opportunity to Lead the Oracle Class Action Lawsuit – Company Announcement - FT.com Financial Times
INVESTOR DEADLINE: Oracle Corporation (ORCL) Investors with Substantial Losses Have Opportunity to Lead the Oracle Class Action Lawsuit – Company Announcement - FT.com Financial Times
Corebridge Financial ( CRBG ) and Equitable Holdings ( EQH ) Thursday announced that they have entered into a definitive agreement to combine in an all-stock merger, valuing the combined company at approximately $22 billion. On a pro-forma basis, the company will have diversified sources of income, with a balanced mix between fees, spreads, and underwriting margin. The combined company is expected...
Corebridge Financial ( CRBG ) and Equitable Holdings ( EQH ) Thursday announced that they have entered into a definitive agreement to combine in an all-stock merger, valuing the combined company at approximately $22 billion. On a pro-forma basis, the company will have diversified sources of income, with a balanced mix between fees, spreads, and underwriting margin. The combined company is expected to deliver more than $5 billion of operating earnings and generate over $4 billion of cash , increasing financial flexibility to invest in strategic growth initiatives while also returning capital to shareholders. The combined company will have $1.5 trillion in assets under management and administration across individual retirement, group retirement, asset management, wealth management, life insurance, and institutional markets. Corebridge shares were little changed in premarket trading, while Equitable rose 1.7% to $38.85. The transaction is expected to be immediately accretive to the combined company’s earnings per share and cash generation, increasing to over 10% by the end of 2028. Earnings per share are expected to be resilient across market cycles, driven by a more balanced mix of spread, fee, and underwriting margin income, Corebridge Financial ( CRBG ) and Equitable Holdings ( EQH ) said. The combined company expects to see an adjusted return on equity of more than 15% by the end of 2027. “The proposed merger is strategically compelling and has the potential to create a more competitive and resilient platform for the long-term benefit of the combined companies’ shareholders. Nippon’s three representatives serving on the Corebridge board of directors voted in favor of the transaction. Nippon expects to continue as a long-term strategic investor,” Satoshi Asahi , president of Nippon Life Insurance said. Additionally, the combined company will benefit from Equitable’s strategic partnership with its majority-owned subsidiary, AllianceBernstein, an active manager with d...
US International Development Finance Corp. is swapping a loan made to graphite producer Syrah Resources Ltd. for equity, as Washington seeks to shore up access to critical metals and reduce dependence on China. DFC will convert a $31 million existing loan to shares in Syrah in two tranches that will give it a stake of about 20% in the company that operates one of the world’s biggest graphite mines...
US International Development Finance Corp. is swapping a loan made to graphite producer Syrah Resources Ltd. for equity, as Washington seeks to shore up access to critical metals and reduce dependence on China. DFC will convert a $31 million existing loan to shares in Syrah in two tranches that will give it a stake of about 20% in the company that operates one of the world’s biggest graphite mines in northern Mozambique, according to a statement . The agency will also disburse an additional $15 million to the subsidiary operating the project. The deal, which is still subject to due diligence and government approvals, will make DFC the second-biggest shareholder in Australia-based Syrah. It follows a string of other transactions the Trump administration has struck at home and overseas in mining and mineral processing – a sector in which China holds a commanding lead over the US. Graphite is a key material in the anodes of rechargeable batteries used in electric vehicles and energy storage systems. China accounted for 78% of mined graphite output last year, according to the US Geological Survey, and manufactures an even greater share of the purified product used in batteries. “In today’s era of global competition, economic security is national security,” DFC Chief Executive Officer Ben Black said in a separate statement . “With this transaction, we will secure US access to one of the largest graphite reserves in the world, supply jobs for the US and our allies, and support a valuable hub of economic activity for the people of Mozambique.” Trump’s Push for a US Sovereign Wealth Fund Transforms an Agency US Government Plans New Mining House to Tap Africa’s Copperbelt Brazilian Rare Earth Miner Offers US Stake Option for Loan Deal DFC recently agreed to provide $600 million to a consortium headed by specialist investor Orion Resource Partners, which has announced a deal to buy stakes in Glencore Plc’s copper-cobalt mines in the Democratic Republic of Congo. It’s also con...
Cathay Pacific Airways Ltd. increased fuel surcharges for the second time in as many weeks, raising them by 34% across all types of tickets, as it ramped up the frequency of its fuel-levies reviews to biweekly. Surcharges will rise to HK$1,560 ($199) a ticket for long-haul flights starting on April 1, up from HK$1,164 currently, the company said in a statement on Thursday. The charge will increase...
Cathay Pacific Airways Ltd. increased fuel surcharges for the second time in as many weeks, raising them by 34% across all types of tickets, as it ramped up the frequency of its fuel-levies reviews to biweekly. Surcharges will rise to HK$1,560 ($199) a ticket for long-haul flights starting on April 1, up from HK$1,164 currently, the company said in a statement on Thursday. The charge will increase to HK$389 from HK$290 on short-haul journeys. The frequent reviews mean that rising airfares could go even higher as oil prices continue to gyrate. Cathay warned it would not be able to sustain its scale of flight operations without adjustments, and opted to raise prices instead of grounding planes. “This increased frequency of review is intended as a temporary measure and will be revisited when the Middle East situation stabilises,” Cathay said. The airline said its fuel surcharges could also be lowered. The airline’s hedges haven’t been enough to cover the recent surge in fuel costs, it said.
Jurors in the first two trials in the U.S. from a growing wave of lawsuits targeting social media firms over harm to children have found Meta and Alphabet's Google liable, potentially teeing up an appeals fight that could reshape how U.S. law shields tech companies from lawsuits. In California, a Los Angeles jury on Wednesday found Meta and Google liable for a young woman’s depression and suicida...
Jurors in the first two trials in the U.S. from a growing wave of lawsuits targeting social media firms over harm to children have found Meta and Alphabet's Google liable, potentially teeing up an appeals fight that could reshape how U.S. law shields tech companies from lawsuits. In California, a Los Angeles jury on Wednesday found Meta and Google liable for a young woman’s depression and suicidal thoughts after she said she became addicted to Instagram and YouTube at a young age, ordering them to pay a combined $6 million in damages. In a separate New Mexico case, jurors on Tuesday ordered Meta to pay $375 million after finding the company misled users about the safety of its products for young users and enabled the sexual exploitation of children on its platforms.
Investors should look beyond the immediate headlines of war and the energy price shock and instead focus on fundamentals and climb the proverbial wall of worry, one leading bank says.
Investors should look beyond the immediate headlines of war and the energy price shock and instead focus on fundamentals and climb the proverbial wall of worry, one leading bank says.
Litigation funder Therium Capital Management Ltd. is fighting a lawsuit alleging that it played a “central role” in a cross-continent conspiracy to get a $14.9 billion arbitration payout from Malaysia. Therium has asked a Channel Islands court to reject the claims brought by Malaysian state-owned oil and gas firm Petroliam Nasional Bhd. , which accused it of conspiring with descendants of a defunc...
Litigation funder Therium Capital Management Ltd. is fighting a lawsuit alleging that it played a “central role” in a cross-continent conspiracy to get a $14.9 billion arbitration payout from Malaysia. Therium has asked a Channel Islands court to reject the claims brought by Malaysian state-owned oil and gas firm Petroliam Nasional Bhd. , which accused it of conspiring with descendants of a defunct sultanate and their lawyers. The Jersey suit stems from a dispute over Malaysia’s Sabah state, where heirs of the former Sulu sultanate claimed rights to the territory under a 19th-century agreement. Before the latest round, the legal wrangling has jumped from court to court. The heirs won a French arbitration award in 2022 and later sought to enforce it against Petronas assets in Luxembourg, prompting the firm’s legal challenge. A Paris court annulled the award last year. Tens of millions of dollars poured into the initial claim by Therium were “at the heart” of the “unlawful means conspiracy” that included “inducing” the arbitrator to defy a Spanish tribunal’s order to stop the arbitration, lawyers for Petronas alleged in Jersey court documents seen by Bloomberg. Therium denied the allegation and said Petronas’ claim wasn’t based on facts and must be struck out. Its founder Neil Purslow declined to comment citing the ongoing case. The Jersey lawsuit puts a spotlight on the risks in the $20 billion and growing market of litigation funding , where investors pay the legal costs of a lawsuit in exchange for a portion of any award or settlement. It’s common for funders to lose their investment or even have to pay the legal costs of the opposing side when they lose. But Petronas’ suit tests the extent to which financiers and lawyers can be directly liable for pursuing such claims. Two lawyers, Paul Cohen and Elisabeth Mason “recruited the Sulu claimants to bring the claim” against Malaysia, lawyers for Petronas alleged. Part of the money was spent on hiring a private investig...
Private credit fund inflows in the first two month of this year dropped by more than a third as investors grew concerned about high-profile leveraged loan defaults and software disruption, according to Morningstar Direct . Open-ended private credit funds, which allow investors to cash out at periodic intervals and accept money on an ongoing basis, had around $1.1 billion inflows, which compares to...
Private credit fund inflows in the first two month of this year dropped by more than a third as investors grew concerned about high-profile leveraged loan defaults and software disruption, according to Morningstar Direct . Open-ended private credit funds, which allow investors to cash out at periodic intervals and accept money on an ongoing basis, had around $1.1 billion inflows, which compares to $1.8 billion over the same period in 2025, Morningstar global data showed. Although there was a small uptick in February, the sector still attracted the lowest amount on a monthly basis since August 2024. The $1.8 trillion private credit industry has been going through a rough patch lately, on growing worries over lending standards and exposure to industries ripe for artificial-intelligence disruption such as software. In a sign of the mounting strain , a number of high-profile managers including Ares and Apollo have had to block investors pulling money out of funds. Read More: Apollo, Blue Owl Lament Private Credit’s Liquidity Confusion “A large portion of the concerns have centered around the US direct lending space, particularly US private credit funds’ exposure to software-as-a-service companies,” Mara Dobrescu, Senior Principal at Morningstar, told Bloomberg News. She said a handful of high-profile leveraged loan defaults in late 2025 and an increased use of payment-in-kind interest — where instead of paying in cash, the borrower takes on more debt — are seen by some investors as signs of increasing stress in the sector. Europe, however, is proving to be a bright spot for private credit managers, with the direct lending space in the region more diversified across sectors, according to Dobrescu. “Software companies are much less represented in Europe, while other sectors linked to the real economy, like infrastructure, are more prominent,” she said. In addition, Europe still sees demand for ESG-focused strategies, “where European investors are hoping to have an impact ...