bymuratdeniz GSR V Acquisition ( GSRV ) priced its initial public offering at $200M, with 20M units offered at $10 each. The units are expected to begin trading on Nasdaq under the ticker “GSRVU.” Each unit includes one Class A ordinary share and one-half of one redeemable warrant exercisable at $11.50 per share. The SPAC intends to target business combination opportunities in the technology, medi...
bymuratdeniz GSR V Acquisition ( GSRV ) priced its initial public offering at $200M, with 20M units offered at $10 each. The units are expected to begin trading on Nasdaq under the ticker “GSRVU.” Each unit includes one Class A ordinary share and one-half of one redeemable warrant exercisable at $11.50 per share. The SPAC intends to target business combination opportunities in the technology, media, telecommunications, and consumer sectors. The offering is expected to close on May 15, 2026. More on GSR V Acquisition Corp., GSR V Acquisition Corp. Financial information for GSR V Acquisition Corp. Financial information for GSR V Acquisition Corp.
Anna Edwards, Guy Johnson, Tom Mackenzie and Mark Cudmore break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)
Anna Edwards, Guy Johnson, Tom Mackenzie and Mark Cudmore break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)
Morning, I’m Louise Moon from Bloomberg UK’s breaking news team, bringing you up to speed on today’s top business stories. Burberry’s turnaround has warmed up with a boost from its signature scarves and trench coats. The British brand reported higher full-year sales, indicating that Chief Executive Joshua Schulman’s transformation is gaining traction. The Coach and Michael Kors veteran has reverse...
Morning, I’m Louise Moon from Bloomberg UK’s breaking news team, bringing you up to speed on today’s top business stories. Burberry’s turnaround has warmed up with a boost from its signature scarves and trench coats. The British brand reported higher full-year sales, indicating that Chief Executive Joshua Schulman’s transformation is gaining traction. The Coach and Michael Kors veteran has reversed Burberry’s push into high-end to focus on affordability and returning to its British core. The company expects current momentum to continue, though refrained from giving specific targets and did warn of wider uncertainty denting customer confidence. Shares fell 4%, extending losses this year. Will a change of chair help? Bridgepoint founder William Jackson will become chair in November, as Gerry Murphy retires. Jackson is best known for helping to build the private equity firm’s fortunes. What’s your take? Ping me on X , LinkedIn or drop me an email at lmoon13@bloomberg.net. Oh, and do subscribe to Bloomberg.com for unlimited access to trusted business journalism on the UK, and beyond. What We’re Watching The UK economy had a growth spurt in the first quarter, with GDP up 0.6% according to the ONS. It’s the fastest expansion for a year, as was expected. A lot of that is down to a bumper February, but March also unexpectedly saw growth despite the Iran war. More from my colleague Sam below. Housing is less rosy. Estate agents reporting a fall in house prices outweighed those seeing growth in April, as the war and higher borrowing costs hit buyers’ confidence, according to a gauge by RICS. Office leasing, however, has rebounded on demand from finance firms. Private equity firm 3i said consumer caution slowed sales at its Dutch discount retailer Action. Shares shed 21%. Premier Foods is actively exploring more M&A, noting the performance of relatively new addition Merchant Gourmet, the lentil pouch maker. Its core branded unit, including Mr Kipling cakes, has also driven gro...
ismagilov/iStock via Getty Images Executive Summary • The Middle East conflict, concerns of stress in the private debt market, and fears of AI causing obsolescence of software companies, all came together during the first quarter to increase volatility and lower prices in the high yield bond market. • The Bloomberg US Corporate High Yield Bond Index produced a modestly negative return during the f...
ismagilov/iStock via Getty Images Executive Summary • The Middle East conflict, concerns of stress in the private debt market, and fears of AI causing obsolescence of software companies, all came together during the first quarter to increase volatility and lower prices in the high yield bond market. • The Bloomberg US Corporate High Yield Bond Index produced a modestly negative return during the first quarter of 2026 as both spreads (risk premium) and interest rates increased. • The Thrivent High Yield Fund outperformed the Bloomberg US Corporate High Yield Bond Index as its more conservative profile and shorter duration aided performance. Performance factors The high yield market started 2026 on a solid note until Anthropic ( ANTHRO ) released Claude AI, which sparked a sell-off in the technology industry as investors feared increased obsolescence risk among software companies. This in turn increased concern over private credit's exposure to the segment. After reaching a low of +248 basis points over Treasuries, these concerns caused spreads in the high yield market to increase 72 basis points, finishing the quarter at +320 basis points over Treasuries. In addition, the Middle East conflict led to a significant spike in oil prices and inflation expectations, causing the 5-year Treasury yield to increase by 0.45% from its low to finish the quarter at 3.95%. The increase in spreads and interest rates led to a negative return for the high yield market during the first quarter with lower-quality, higher-risk investments underperforming. CCC-rated bonds returned -1.26% for the quarter while BB-rated bonds returned -0.28%. Also, longer duration bonds underperformed shorter duration bonds. The spike in oil prices caused total returns in the energy segment to lead industry performance. Industries most negatively impacted by higher oil prices and interest rates underperformed, such as financials, airlines, and building materials. Thrivent High Yield Fund outperformed the Bl...
For many retirees, age 62 feels like an important milestone. It's the earliest age you can claim Social Security . And after decades of hard work, the idea of finally getting a monthly benefits check can be very appealing. Now, you may be aware that claiming Social Security at 62 will reduce your monthly benefits permanently. But that's not the only problem with taking benefits as early as possibl...
For many retirees, age 62 feels like an important milestone. It's the earliest age you can claim Social Security . And after decades of hard work, the idea of finally getting a monthly benefits check can be very appealing. Now, you may be aware that claiming Social Security at 62 will reduce your monthly benefits permanently. But that's not the only problem with taking benefits as early as possible. Filing early could have other consequences you don't realize until it's too late. Image source: Getty Images. Continue reading
In this article BRBY-GB Follow your favorite stocks CREATE FREE ACCOUNT Burberry said this fiscal year marked a "meaningful inflection point," as it posted quarterly results, boosted by the important Americas and China markets. Comparable sales grew 2% over the fiscal year, boosted by a 10% growth in both the Americas and China in the quarter ended March, the British luxury outerwear maker said. "...
In this article BRBY-GB Follow your favorite stocks CREATE FREE ACCOUNT Burberry said this fiscal year marked a "meaningful inflection point," as it posted quarterly results, boosted by the important Americas and China markets. Comparable sales grew 2% over the fiscal year, boosted by a 10% growth in both the Americas and China in the quarter ended March, the British luxury outerwear maker said. "All boxes ticked, execution firmly on track," said Citi analysts after the print. Full-year revenue came in largely in line with expectations at £2.4 billion ($3.25 million), flat at constant exchange rates. "We've returned to profitable comparable sales growth, with a strong fourth quarter driven by momentum in Greater China and Americas," CEO Joshua Schulman said in a statement. "Our strategy is working and there are clear opportunities for further growth." This is a developing story. Please refresh for updates. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
A man cooks with firewood during a blackout in Havana on May 13, 2026. Yamil Lage | Afp | Getty Images Cuba has run out of oil and diesel, its energy minister said on Wednesday, as an ongoing U.S. blockade starves the island nation of fuel. "The sum of the different types of fuel: crude oil, fuel oil, of which we have absolutely none; diesel, of which we have absolutely none … the only thing we ha...
A man cooks with firewood during a blackout in Havana on May 13, 2026. Yamil Lage | Afp | Getty Images Cuba has run out of oil and diesel, its energy minister said on Wednesday, as an ongoing U.S. blockade starves the island nation of fuel. "The sum of the different types of fuel: crude oil, fuel oil, of which we have absolutely none; diesel, of which we have absolutely none … the only thing we have is gas from our wells, where production has grown," Cuban Energy Minister Vicente de la O Levy said on state media, according to broadcaster the BBC . A U.S. blockade has blocked shipments of oil into the country since January, prompting blackouts lasting up to 22 hours a day in parts of the Cuban capital Havana. De la O Levy said the country's predicament is "extremely tense." According to Reuters news agency, which has reporters on the ground in Havana, protests broke out in the city on Wednesday evening, with hundreds crowding the streets, blocking roads with garbage and shouting "turn on the lights." People walk on a street during a blackout in Havana on May 13, 2026. Yamil Lage | Afp | Getty Images De la O Levy warned Cuba has "no reserves" and that its national grid is in a "critical state," the Guardian newspaper reported separately. Cuba had been heavily dependent on oil from Venezuela, but the communist-run Caribbean island has effectively been cut off since early January when the U.S. launched a military operation to remove Venezuelan President Nicolás Maduro. The Trump administration has called Cuba's government "an unusual and extraordinary threat", suggesting the White House could turn its attention to Cuba when the Iran war is concluded. In a Truth Social post on Tuesday, Trump said talks between the U.S. and Cuba would happen, without giving details on when they might take place. "Cuba is asking for help, and we are going to talk," he said ahead of his visit to China. The U.S. State Department said Wednesday that it was willing to provide $100 million in a...
Israeli Prime Minister Benjamin Netanyahu quietly visited the United Arab Emirates during the Israeli-U.S. war with Iran, his office said Wednesday. The UAE later denied any secret visit had occurred. (Image credit: Ilia Yefimovich/AP)
Israeli Prime Minister Benjamin Netanyahu quietly visited the United Arab Emirates during the Israeli-U.S. war with Iran, his office said Wednesday. The UAE later denied any secret visit had occurred. (Image credit: Ilia Yefimovich/AP)