Finance Knuggets

Jan 29, 2024

I recently heard that U.S. Steel’s acquisition by Japan’s Nippon Steel was driven by regulatory arbitrage rather than price, as revealed in its preliminary proxy statement. Additionally, CG Oncology, a biotech company focused on bladder cancer, raised $380 million in its IPO, signaling a positive trend in the broader IPO market. The U.S. economy grew at a 3.3% annualized rate in Q4 2023, surpassing economists’ expectations and reflecting a year of economic resilience. However, there were also cases against Chatham Asset Management and Aon Investments USA Inc. for improper trading and errors in calculating investment returns, highlighting ongoing challenges in securities regulation. The news also mentioned the SEC’s adoption of new rules regulating SPACs, affecting the market for retail investors to access small, risky, speculative companies.

Other news included China’s $6 trillion stock wipeout, Blackstone’s plans for a deal spree, EquiLend’s cyberattack, insurers profiting from soaring premiums, fund managers slashing jobs, and retailers returning to bringing in inventory ‘just in time’. There was also discussion about younger Americans not seeing a path to retirement and Sam Bankman-Fried’s influence on Bitcoin’s comeback. Additionally, the 25 cheapest places to live in the U.S. were listed, providing options for remote workers or retirees looking for affordable communities. Lastly, Ben Murray, a SaaS CFO, released his 5th Annual SaaS Tech Stack Report, offering insights on SaaS metrics and finance templates for optimizing cash burn and spending.

That’s the latest in finance news, with updates on various market trends and developments in the SaaS industry.

Stay Well!