FirstFT: Wall Street Bank Profits $7.2 billion from General Electric’s Decline
Since 2000, GE has paid more than $7 billion in investment banking fees as a Wall Street Bank pays off Starting from the frenzied trading period, it eventually led to the dissolution of the most famous American conglomerate.
According to data from Refinitiv, GE spent US$2.3 billion on M&A advisory alone because it built a huge empire.On Tuesday, the group that once produced products ranging from light bulbs to wind turbines but whose share price has fallen for a long time finally announced Plan to break up Divided into three companies.
The rise and fall of this conglomerate brought windfalls to Wall Street: General Electric spent $3.3 billion on bond-related expenses, and spent $800 million on loans and $792 million on equity expenses, respectively.
Refinitiv data shows that since 2000, GE has spent more on investment banking fees than any other US company. Followed by Citigroup and JP Morgan Chase, they paid $6.8 billion to bankers, while the largest expenditure of the industrial group was General Motors, which spent $3.8 billion.
Thank you for reading FirstFT Europe/Africa.This is the rest of the news today-Gary
There are five more stories in the news
1. The White House scrambles to curb soaring inflation Joe Biden’s government is eager Control inflation Because rising prices are likely to weaken the US economic recovery, endanger his spending plans, and bring bad luck to the Democratic Party in the mid-term elections next year.Consumer price index rises 6.2% Data released on Wednesday showed that October increased from the same period last year, the fastest increase since 1990.
2. Afghans face loss of aid support International aid agencies warned that there are only a few weeks left to deliver food and other items. Lifesaving aid As Afghanistan faces one of the worst humanitarian crises in the world, it travels to mountainous provinces before the onset of winter and cuts off ties with remote areas.
3. Covid cases decline in England England recorded Longest uninterrupted operation According to an analysis of official data by the Financial Times, the number of daily coronavirus cases has declined since February, as the number of Covid-19-related hospitalizations has fallen in every region of the country.
4. McKinsey partner accused of insider trading U.S. prosecutors accuse McKinsey & Co. partner Securities fraud suspected of insider trading Before Goldman Sachs acquired GreenSky, an online loan provider for US$2.2 billion, it accused Puneet Dikshit of using privileged information to make more than US$450,000.
5. Rivian shines on the stock market The Amazon-backed electric car manufacturer has not yet recorded any meaningful revenue. Soaring during Nasdaq debutThe opening price is 37% higher than the initial public offering price, and the market value is more than $100 billion, which is higher than that of Ford and General Motors.
the day before
Chinese Singles Day China’s largest online shopping festival kicked off today.But Alibaba’s annual sales boom is dizzying Faded This year, as Jack Ma’s e-commerce group focuses on Social Welfare Please the Beijing authorities. (South China Morning Post, Nikkei Asia)
Iranian negotiators in London Ali Bagheri Kani, Deputy Foreign Minister and Chief Negotiator of the Nuclear Agreement, visited London in advance Vienna talks At the end of the month. (Bloomberg)
British economic data The GDP, trade balance, and industrial production and service index for September and the third quarter will be Released.
income Companies reporting earnings include automakers Mazda, Qualcomm, Siemens, Singapore Airlines and Uber.View our complete list here.
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