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The turmoil in the U.S. banking sector has had a negative impact on the market for initial public offerings (IPOs) . IPOs raised just $19.7 billion this year, down 70% from a year ago, according to Bloomberg data. That is the lowest level since 2019. Of that, just $3.2 billion has been raised through IPOs in the U.S. Shareholders and companies were quick to sell stock early in the year to take advantage of the stock market rally. However, that rally largely fizzled as the Federal Reserve continued to ramp up interest rates to cool inflation. The problems in the banking sector following the collapse of Silicon Valley Bank have also had an impact on companies' IPO plans. Secondary offerings have been the sole bright spot, raising $76 billion this year, a 48% increase from a year ago. Companies like electric vehicle maker Rivian have also turned to convertible bonds to raise money more cheaply. Some $6.4 billion in convertible bonds have been issued globally so far this … [Read more...] about Global IPO Fundraising Slows, Weighed Down by Banking Sector Turmoil

The Federal Deposit Insurance Corporation (FDIC) announced Sunday night that First Citizens BancShares made a deal to acquire Silicon Valley Bank (SVB), the recently failed tech lender. On March 10, the federal regulator took over SVB following a bank run that caused it to collapse . The FDIC then sought a buyer for the bank, either as a whole or in segments, and found one in First Citizens in a transaction including $72 billion in assets — a discount of $16.5 billion, according to the FDIC statement . About $90 billion in SVB’s securities and other assets were not part of the acquisition and will stay in the ownership of the FDIC, according to the statement. The FDIC also will get equity appreciation rights tied to the stock of First Citizens, which may be worth up to $500 million, according to the statement. (RELATED: After Collecting Millions From Wall Street, Janet Yellen Now Helps Decide Which Banks Get Bailouts) Federal Reserve Board Chair Jerome Powell speaks … [Read more...] about First Citizens To Acquire Collapsed Silicon Valley Bank In Major Deal

Three students and three adults are dead after an active female shooter entered Covenant School, a private Christian school in Tennessee, according to a law enforcement press conference. The Metro Nashville Police Department “engaged” with the aggressor and reported the shooter is now dead. “We do not know who she is at this juncture,” law enforcement officials said in a Monday press conference. “We’re trying to identify her. She does appear to be in her teens.” (RELATED: Shooter Opens Fire On School Campus, Killing One Student) The suspected shooter was carrying two “assault-type rifles” and a handgun, officials said. An active shooter event has taken place at Covenant School, Covenant Presbyterian Church, on Burton Hills Dr. The shooter was engaged by MNPD and is dead. Student reunification with parents is at Woodmont Baptist Church, 2100 Woodmont Blvd. pic.twitter.com/vO8p9cj3vx — Metro Nashville PD (@MNPDNashville) March 27, 2023 The Tennessee Department … [Read more...] about Six Killed After Female Shooter Opens Fire At Nashville Private School

More voters appear to be dissatisfied than content with Transportation Secretary Pete Buttigieg’s response to an Ohio train derailment that exposed a small town to toxic chemicals in early February, according to a Harvard CAPS/Harris poll released Friday. A Norfolk Southern train derailed in East Palestine, Ohio, on Feb. 3 and a controlled burn conducted on Feb. 6 to alleviate pressure within the cars released harmful chemicals including vinyl chloride into the environment. Buttigieg caught flack for failing to respond to the derailment until ten days later, and for not visiting the derailment site until three weeks after the initial crash. (RELATED: ‘Superman’s Not Coming’: Ohioans Brace For Tough Road Ahead After Toxic Train Derailment) Thirty-one percent of polled voters said that Buttigieg’s response to the derailment was “poor,” while 30% said that it was “fair,” according to the results. Conversely, 29% said that the response was “good,” but only 9% said it was … [Read more...] about Majority Of Voters Believe Buttigieg’s Response To Toxic Train Derailment Was ‘Fair’ Or ‘Poor’: POLL

Editor’s note: This post has been updated to reflect comments from John Cramer, Vice President for Marketing and Communications at Connecticut College. The president of Connecticut College (CC) announced on March 24 that she would be stepping down amid backlash for plans to host an event at a golf club accused of antisemitism and racism, according to the president’s statement. Katherine Bergeron has been the college’s president for nearly a decade but informed the school that she would be stepping down from her position at the end of the semester, according to her official statement. Her announcement comes after weeks of protests against the president’s plan to host a fundraising event at the Everglades Club, which has allegedly refused service previously to Jewish and black Americans in the past, according to Inside Higher Ed. (RELATED: Women’s College Removes Former President’s Name From Library Due To History Of Antisemitism, ‘White Supremacy’) Bergeron’s statement … [Read more...] about College President Resigns Over Event Hosted At Golf Club Accused Of Antisemitism, Racism

Fox News’ Brian Kilmeade criticized former President Donald Trump on Monday morning following Trump’s Saturday rally in Waco, Texas. During the opening of the rally, Trump’s team played the song “Justice for All” by the J6 Prison Choir, which includes individuals who were jailed for their role in the Jan. 6 Capitol riot, over the loudspeakers. As the song played, a montage of images from the riot appeared on a large screen. As footage from the Jan. 6, 2021, insurrection at the U.S. Capitol is displayed in the background, former President Donald Trump stands while a song, “Justice for All,” is played during a campaign rally at Waco Regional Airport, Saturday, March 25, 2023, in Waco, Texas. pic.twitter.com/j8y1XSfJD1 — Evan Vucci (@evanvucci) March 26, 2023 Kilmeade criticized Trump for showing the images. (RELATED: Most Voters Think Trump Indictment Wouldn’t Hurt, Or Could Even Help, Him Win The Presidency: POLL) Kilmeade said President Joe Biden is vulnerable … [Read more...] about Fox News Host Brian Kilmeade Goes On The War Path Against Trump Following Waco Rally

The New York grand jury investigating whether former President Donald Trump should be indicted for allegedly making an illegal hush money payment to pornographic actress Stormy Daniels is reportedly expected to reconvene Monday. The grand jury last met Tuesday — the day Trump claimed he would be arrested — and did not deliberate the case on Wednesday and Thursday as expected. The 23 jurors will likely reconvene Monday, The Wall Street Journal reported, citing anonymous sources familiar with the matter. A majority vote from the jury is required for Trump to be indicted. The potential charges stem from Trump’s lawyer Michael Cohen paying Daniels $130,000 before the 2016 election to keep her from speaking about an alleged affair with Trump. In 2018, Cohen pleaded guilty to violating federal campaign finance laws when making the payment. WACO, TEXAS – MARCH 25: Former U.S. President Donald Trump speaks during a rally at the Waco Regional Airport on March 25, 2023 in Waco, … [Read more...] about Grand Jury Investigating Trump Expected To Reconvene

Share to Twitter Share to Linkedin Topline Three children and three adults were killed during a mass shooting at a private Christian elementary school in Nashville on Monday, according to local officials, and the shooter also died after a confrontation with police. Key Facts Police received the first call of an active shooter at the Covenant School in Nashville at 10:13 a.m. Monday, and a team of officers engaged with shooter by 10:27 a.m., shooting and killing her, Metropolitan Nashville Police Department spokesperson Don Aaron said at a press conference. Three children and two adults were transported to Vanderbilt University Medical Center’s pediatric and adult emergency departments, and all five were pronounced dead, hospital spokesperson John Howser told Forbes . Another adult was also shot and killed, but was not transferred to the hospital, Nashville Fire Department spokesperson Kendra Looney said. Aaron said the shooter … [Read more...] about 6 People Killed In Tennessee Elementary School Shooting, Officials Say

Share to Twitter Share to Linkedin Green is at the top of the list of hot colors for 2023, and it’s showing up in a variety of places—from pen and watch collections, to fashion and home décor. Here are a few well-known brands that have taken the trend to heart. Pelikan Special Edition Souverän 800 Green Demonstrator This Special Edition Souverän 800 Green Demonstrator may look familiar to long-time pen aficionados at first glance, since a similar green Pelikan Demonstrator was introduced in 1992. But there are a couple of important design updates featured her—like the modernized cap ring and turning knob for the piston-filling system. The body of the pen is a springtime grass green that is vibrant and energizing, and the transparent cap and barrel—the very definition of a demonstrator pen—allow a great view of the inner workings of the pen, as well as the status of its ink supply. The metal components, as well as the traditional Pelikan beak-like … [Read more...] about Spring Greens: Pelikan, Oris And Girard-Perregaux

Share to Twitter Share to Linkedin 1. Aman takes over Rosa Alpina The iconic Rosa Alpina hotel, in Italy’s UNESCO-protected Dolomites, has been providing hospitality since 1939 and is about to enter perhaps its most exciting chapter yet – as a fully-fledged Aman resort. Having presided over Rosa Alpina for three generations, the Pizzinini family will remain at the helm of the serene mountain retreat. The long-term partnership with Aman sees the family unite with the brand’s philosophy of intuitive service and a luxury home-away-from-home experience. Currently undergoing an extensive refurbishment, the illustrious property will reopen under its new guise for the 2024/25 winter season. The revamp of Rosa Alpina will be overseen by long-time Aman collaborator Jean-Michel Gathy of Denniston Architects, who most recently masterminded the monumental transformation of the Crown Building to become Aman New York . The redesign will include a … [Read more...] about Need To Know: Five Essential Hotel Updates For Travel Lovers