Finance Knuggets

Feb 06, 2024

I recently learned that the European Union held twin summits with ASEAN and Indo-Pacific countries, focusing on advancing functional cooperation and addressing geopolitical issues. The EU-ASEAN Ministerial and the EU-Indo-Pacific Ministerial were held in Brussels, with efforts to make tangible progress on cooperation despite challenges. Additionally, venture capitalists have heavily invested in electric vehicle (EV) makers, but some companies have faced struggles in commercializing their products. Novo Holdings, the parent company of Novo Nordisk, has agreed to buy New Jersey-based contract manufacturer Catalent for around $16.5 billion in cash to boost production of Wegovy, an anti-obesity drug, whose demand has exceeded supply.

In the tech and finance sector, Reken, an AI cybersecurity startup in SF, raised $10m in seed funding, while Peripass, a Belgian trucking yard logistics startup, secured €7.5m in funding. There were also several private equity deals, including Bain Capital’s agreement to buy Accolade Wines and Thoma Bravo’s agreement to buy Everbridge for $1.5b. Reddit has also chosen the NYSE for its upcoming IPO, and several SPACs filed for IPOs, including Black Hawk Acquisition and Helix Acquisition II. Moreover, there have been ongoing developments in the mortgage market, with growing interest in assuming existing low-rate mortgages.

In other news, I read about insider betting and how it differs from traditional insider trading. Additionally, China has tightened some trading restrictions for domestic and offshore investors, Elon Musk potentially derailing Delaware, and a mining company discovering a vast copper deposit in Zambia. These diverse events showcase the complex and ever-changing nature of the financial world.

Stay Well!