Finance

The French luxury giant Kering, parent company of Saint Laurent and Gucci, is getting a new CEO, Luca de Meo. And surprisingly he is not a longtime ready-to-wear afficionado but a car industry veteran. De Meo, 58, had been leading the French Renault Group since 2020. He left the carmaker …

Crypto company Ripple has applied to US regulators for a national bank charter, as the distinction between digital asset firms and traditional financial institutions becomes increasingly blurred. Ripple’s decision—announced in July on social media by the company’s chief executive, Brad Garlinghouse—mirrors similar moves by Circle and BitGo. Analysts opine that …

The state of the United Kingdom’s capital markets is perilous. IPO activity has fallen to its lowest levels in 30-years. In the first half of this year, five listings reportedly raised just £160 million (around $215 million) below amounts as far back as 1995, according to data provider Dealogic.London Stock …

Singapore-headquartered Yinson Production recently issued a record-breaking $1.168 billion bond for a floating production, storage, and offloading (FPSO) unit in Brazil. This marks the largest and longest-dated FPSO project bond to date, the longest-dated structured finance bond in Brazil, and the highest order book ever for an FPSO project bond. …

Amid regional upheavals, Gulf states are asserting their influence and betting on a vast economic transformation. The Gulf ’s six oil-rich monarchies are typically spared the Middle East’s most violent conflicts. But Iran’s retaliatory strike on a US military base in Qatar in June reawakened existential fears that the polished …

High-end wellness resorts, clinics, and spas are part of ambitious national development programs in Saudi Arabia and its neighbors. According to the medical journal The Lancet, the Gulf Cooperation Council countries, along with the rest of the Middle East and North Africa, will lead the world in youth obesity by …

The move to T+1 trade settlement tests sub-custodians. As the pace of global investment continues to accelerate, sub-custodians serve as invaluable resources in their respective countries, helping institutional investors navigate the operational and regulatory complexities that exist in these markets. This is Global Finance’s 23rd year recognizing the World’s Best Sub-Custodian …

WeWork India is preparing to raise up to 35 billion Indian rupees ($407 million) through an initial public offering expected in August, signaling a resurgence for the once high-flying coworking brand. The offering will comprise up to 43.75 million shares, primarily from key stakeholders Embassy Buildcon and 1 Ariel Way …

Carmakers are seeking alternative sources of rare earth minerals for magnets, since China’s decision in April to curb the export of their monopolistic supply. The tit for tat between the Chinese and the US caused by the tariff war has choked the auto industry. Beijing controls approximately 90% of the …

CIBC Mellon, our winner in North America and Canada, continues to refine its comprehensive asset-servicing business model, emphasizing innovation, process efficiency, and exceptional client service. Jointly owned by Bank of New York Mellon and Canadian Imperial Bank of Commerce, CIBC Mellon leverages CIBC’s local knowledge in the Canadian market with …