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Articles related to "deal"


Brexit deal is 95% settled, UK's May to tell Parliament

  • An initial opponent of Brexit, May has long struggled to reach a compromise with European leaders, while staving off criticism from hard-line anti-EU lawmakers within her own Conservative Party and its allies in Parliament, the Northern Irish Democratic Unionist Party (DUP).
  • European leaders want a "backstop" agreement, whereby in the absence of other solutions, Northern Ireland would remain aligned with European regulations on goods and services, including customs arrangements, after Britain leaves the bloc.
  • It is unclear from May's remarks how much progress has been made in this area since she last spoke with European leaders, but if this is the 5% of the deal which remains to be settled, then it may prove an outsized percentage.
  • Last week, the EU dropped plans for a November summit on Brexit because of a lack of progress in negotiations and began preparations for a disastrous "no-deal" scenario when the clock runs out in March 2019.

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Amazon Is Said to Get $1 Billion in Deals With SAP, Symantec

  • Informa PLC's registered office is 5 Howick Place, London SW1P 1WG.
  • Nico Grant (Bloomberg) -- Amazon Web Services, the cloud-computing division of Amazon.com Inc., signed new deals with customers SAP SE and Symantec Corp.
  • worth a combined $1 billion, according to an internal memo, underscoring the company’s growing momentum in the market for internet-based computing power and storage.
  • Microsoft Corp., the No. 2 cloud-services provider, had also competed for the Symantec deal, according to the memo.
  • While SAP has spent more money with Microsoft and Google over the past 12 months, “our SAP internal share of wallet stays pretty stable at 70 percent,” according to the text of the AWS memo.
  • The Symantec deal represented an increase of more than seven times in the cybersecurity company's spending on AWS, meaning that it “has been able to capture more than 80 percent” of Symantec's cloud spending, according to the document.

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A wave of senior departures, lost market share, and a 20% drop in fees: A dismal year in investment banking at Bank of America

  • Investment banking was one of the few sore spots in an otherwise strong third-quarter earnings report for Bank of America Merrill Lynch.
  • While overall profits in the third-quarter soared 32% to $7.2 billion, investment banking fees in the firm's Global Banking division dropped 20% to $643 million.
  • JPMorgan Chase and Citigroup reported earnings Friday and saw smaller investment banking declines of 1% and 8% for the quarter, respectively.
  • While investment banking comprises a much smaller slice of Bank of America's business than its powerhouse consumer retail division — which reported $3.1 billion in profits in the quarter — the firm is a perennial a top-three player on global dealmaking league tables.
  • The firm's share in global investment banking fees dropped to 5.7% — down from 6% in 2016 and 2017 — while JPMorgan, Goldman Sachs and Morgan Stanley all posted gains.

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$450 Billion in Investments at Stake in Saudi Crisis, Trump Says

  • President Donald Trump said $450 billion in investments are at stake as Congress raises pressure on him to punish Saudi Arabia for the presumed death of journalist Jamal Khashoggi, and he promised to involve lawmakers in any U.S. response.
  • Trump has previously said he opposes canceling what he says is a $110 billion deal for U.S. weaponry the Saudis intend to buy.
  • Saudi Arabia’s leaders have promised the U.S. to reveal within days what happened to Khashoggi, who lived in the U.S. and wrote for the Washington Post, after he entered the Saudi consulate in Istanbul Oct. 2 to retrieve a document for his wedding.
  • The Saudis have only said he left their consulate unharmed, without providing any evidence for a claim that appears more implausible with each passing day.

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Theresa May told by the EU to 'take it or leave it' as Brexit talks risk collapse

  • BRUSSELS, BELGIUM — The EU is not willing to offer Theresa May any further concessions in order to secure a Brexit divorce deal, a senior EU source involved in the negotiations has told Business Insider.
  • The aim of May's UK-wide customs union idea — in addition to suggestions that the transition period could be extended to three years — is to make the Northern Ireland-only backstop less likely to come into use.
  • Already the prime minister's suggestion that the transition period could be extended caused an almighty stir in Westminster, with Conservative MPs openly calling for her to stand down.
  • Pro-Brexit Conservative MPs fear that if May's preferred customs union backstop is signed off without a fixed end date, the UK could be trapped within the EU's customs arrangements indefinitely, unable to sign new free trade deals.

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Theresa May told by the EU to 'take it or leave it' as Brexit talks risk collapse

  • BRUSSELS, BELGIUM — The EU is not willing to offer Theresa May any further concessions in order to secure a Brexit divorce deal, a senior EU source involved in the negotiations has told Business Insider.
  • The aim of May's UK-wide customs union idea — in addition to suggestions that the transition period could be extended to three years — is to make the Northern Ireland-only backstop less likely to come into use.
  • Already the prime minister's suggestion that the transition period could be extended caused an almighty stir in Westminster, with Conservative MPs openly calling for her to stand down.
  • Pro-Brexit Conservative MPs fear that if May's preferred customs union backstop is signed off without a fixed end date, the UK could be trapped within the EU's customs arrangements indefinitely, unable to sign new free trade deals.

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Alumni Ventures Group is the most active venture fund you've never heard of

  • Across 25 micro funds, AVG is raising and investing upwards of $200 million per year for and in tech startups.
  • Today, AVG is announcing a close of roughly $30 million for three additional funds: Green D Ventures, Chestnut Street Ventures and Purple Arch Ventures, which represent capital committed by Dartmouth, the University of Pennsylvania and Northwestern alums, respectively.
  • The firm pools the capital and creates university-specific venture funds for graduates of Duke, Stanford, Harvard, MIT and several other colleges.
  • Collins started AVG to make venture capital more accessible to individual people.
  • Collins says they just “tuck themselves into” a deal with a great lead investor.
  • Founders appreciate the easy capital and access to AVG’s network, and other VC firms don’t view AVG as a threat, making it easier for the firm to get in on great deals.

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Trump wants to have a giant signing ceremony for the updated US-Mexico-Canada trade deal, but the other two countries are refusing because of tariffs

  • According to a report from Politico, Trump wants to hold a ceremonial signing of the new US-Canada-Mexico trade deal in a Midwestern city before the November midterm elections.
  • Despite the new trade agreement, which is an update of the North American Free Trade Agreement (NAFTA), Trump's 25% tariff on imported steel and 10% tariff on imported aluminum remain in place— as do Canada and Mexico's retaliatory trade measures against the US.
  • Trump's method for advancing the new trade deal, known as the US-Mexico-Canada Agreement or USMCA, through Congress requires a 60-day window from the deal's text being submitted to Congress and a signing ceremony.
  • As it stands ,the US wants Canada and Mexico to accept quotas for steel and aluminum in lieu of tariffs, similar to agreements with Argentina, Brazil, and South Korea.

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The Justice Department Approved the CVS-Aetna Merger, But It's Still Not a Done Deal. Here's Why

  • New York state officials are considering blocking parts of the $68 billion merger of drugstore store chain CVS Health Corp.
  • CVS (cvs) and Aetna won approval from the U.S. Justice Department on Oct. 10, contingent on Aetna (aet) divesting its Medicare Part D business, which covers prescription drugs for seniors.
  • At a public hearing in Manhattan on Thursday, Maria Vullo, superintendent of the state Department of Financial Services, said her agency might block CVS’s merger with Aetna’s New York unit.
  • She called U.S. approval of the overall deal “myopic” and repeatedly asked CVS and Aetna representatives for written evidence that they would deliver on promises to lower prices.
  • They said the merger would limit competition and drive up the cost of prescription drugs.
  • Shares of CVS and Aetna were little changed in New York Thursday.

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Theresa May has only one real option for survival left — a soft Brexit

  • LONDON — The last few weeks of the Brexit process must have felt like the closing stages of a particularly brutal chess game for Theresa May. At every turn, the options open to her have been gradually whittled away until all of the available moves are obviously bad ones that will either lose her crucial lieutenants or rapidly force her into an early checkmate.
  • A soft Brexit, in which Britain stays closely aligned to the EU single market and the customs union, would trigger outright fury from a large chunk of the Conservative parliamentary party, not to mention the grassroots across the country who are even more pro-Brexit than their parliamentary representatives.
  • Staying in a customs union would prevent Britain from signing new trade deals, destroying a major Brexit promise and rendering Trade Secretary Liam Fox useless, while staying closely aligned to the single market would mean accepting some form of freedom of movement to continue after Brexit.

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