Investment

Investment bank Perella Weinberg Partners cutting staff by 7%

Published

4 years ago

June 3, 2020

Boutique investment bank Perella Weinberg Partners is cutting about 7% of its workforce amid the coronavirus outbreak, a person familiar with the matter told Reuters on Wednesday.

The move will see a staff reduction of about 40 employees and is part of a strategic review, according to the source who did not want to be named.

The development was earlier reported by the Financial News website https://www.fnlondon.com/articles/boutique-firm-perella-weinberg-trims-about-7-of-workforce-as-dealmaking-plunges-20200603, which said that the move is expected to impact all regions and seniority levels, including some partners.

Perella Weinberg has been part of some of the biggest deals in the United States in the past few years, including the $3.2-billion buyout of SodaStream by PepsiCo and American International Group’s $5.56 billion acquisition of reinsurer Validus Holdings.

However, the coronavirus outbreak has taken a toll on takeover activity amid travel restrictions, shutdowns and economic uncertainty.

The company was recently among the financial firms hired by the U.S. Treasury Department to advise on providing tens of billions of dollars in aid to the airline, cargo and defense sectors, Reuters reported in April.

Perella Weinberg’s focus was to advise the Treasury on its negotiations with companies that are active in industries important to national security, sources told Reuters in April.

Chief Executive Officer Peter Weinberg founded the company with veteran deal maker Joe Perella in 2006. (Reporting by Kanishka Singh in Bengaluru; Editing by Anil D’Silva)

Source: – Financial Post

Source link

Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

Published

3 days ago

October 16, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

Source link

Economy

S&P/TSX up more than 200 points, U.S. markets also higher

Published

1 week ago

October 11, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

Source link

Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

Published

1 week ago

October 10, 2024

Anne Joseph

TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

Source link