Podcasts about Nomura

Andrew, Ben, and Tom discuss yesterday's market activity, Nomura buying Macquarie's US and European public asset management, and the Novo Nordisk pill underperforming Eli Lilly. For information on how to join the Zoom calls live each morning at 8:30 EST, visit:https://www.narwhal.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhal.com/disclosure

We have seen some calm return this week, which has coincided with President Trump making some tariff concessions for tech companies and for auto parts, suggesting that a 'Trump put' is in play, and with the President also signalling “big progress” in talks with Japanese officials. However, we have to say this is an uneasy calm; new sectoral tariffs are still likely coming and tensions with China remain elevated. We discuss the latest tariff twists and turns, fresh communication from Fed Chair Powell and upcoming US data, as well as the ECB's recent 25bp rate cut. Across Asia, we will look out for Bank Indonesia's policy meeting, Korea export data and Tokyo CPI. Chapters: US (02:16), Europe (08:47), Asia (13:13).

Global financial markets remain on edge after a rebound from the 90-day pause on US reciprocal tariffs for most countries except China. In this episode, we discuss the path forward for negotiations with US trade partners. We also discuss Europe's changing stance to negotiate rather than retaliate, and the ECB looking set to cut again next week. In Asia, we outline the posture from Beijing, with the Q1 GDP data also on tap.  We end with a special segment with Rob Subbaraman, Head of Global Macro Research, who offers his perspectives on major global questions, including how damaging the ‘tariff shock' could be on global growth, and possible reasons behind the on-going decline in US asset prices. Chapters: US (02:08), Europe (07:30), China (12:25), Rest of Asia (17:48), Tariffs (19:16).  

It's been another tumultuous week in financial markets following President Trump's tariff announcements on 2nd April. Tariffs were broad and generally larger than expected and financial markets did not digest them all that well, although some resilience in US labour market data appears to be curbing some of the downside for now. In this episode, we will go into the detail of what trade policy is being implemented and what it means for various economies. Chapters: US (01:27), Europe (09:00), Asia (14:01), Australia and New Zealand (20:15). 

Welcome back to Going Public with Evercore's Glenn Schorr.On the latest episode of Going Public, we dive for the loose balls in private markets' March Madness as Glenn shares his thoughts on why it's important to separate the forest from the trees when it comes to why certain firms make his “Final Four.”We cover some of the most pressing topics in alternative asset management, including:Separating the forest from the trees — dissecting alternative asset manager stock performance versus long-term business performance.Views on the exit environment and what it means for alternative asset manager stock performance.Where and why does scale matter?Are banks and alternative asset managers enemies, frenemies, or collaborators, particularly in areas like private credit?Why does Glenn believe the secular growth trends of private markets and how that impacts alts managers is a fat pitch?In the spirit of March Madness, Glenn shares his bracketology on which firms make his “Final Four.”Subscribe to Alt Goes Mainstream to receive the weekly newsletter every Sunday and all of AGM's podcasts.Making private markets more public — with expert analysisAlt Goes Mainstream has partnered with an expert who has seen the evolution of alternative asset managers from their early days.Glenn Schorr is a Senior MD and Senior Research Analyst at Evercore ISI, where he covers brokers, banks, asset managers, and trust banks as an analyst. He has covered financials since 2000 and started coverage of alternative asset managers when the first firms went public.He's consistently come up as one of the most thoughtful and well-respected analysts in the space. He balances deep research with a creative flair (just read one of the titles of his research reports and you can see his love of the game). He's been named to Institutional Investor's All-America Research Team for his coverage, most recently ranking #2 and runner up in 2023, #1 and #2 in 2022. Prior to Evercore, Glenn was a Senior MD at Nomura, serving as the lead financials analyst. Listen in as Glenn shares market stories, the evolution of alternative asset managers as businesses, the biggest and most exciting trends in private markets based on what the industry's largest players are doing, and we go “around the horn” for his analysis on the publicly traded firms.Show Notes00:00 Introduction and Countdown00:06 Going Mainstream00:45 Welcome to the Series00:58 Meet Glenn Schorr01:31 Market Stories and Trends01:54 Live from Evercore02:04 Earnings and Market Volatility02:07 Secular Growth Businesses02:39 Anticipation and Uncertainty03:26 Alternative Managers' Performance04:36 Private Markets and Infrastructure05:53 Valuation and Market Corrections07:28 Investment Opportunities in Market Downturns07:54 Fundraising and Fee Related Earnings08:01 Capital Raising Challenges09:36 Super Alts Firms12:22 Brand and Consistency13:16 Acquisitions and Growth Strategies15:33 Banks vs. Alternative Managers16:26 Private Credit and Direct Lending24:45 Asset Classes Shifting from Public to Private Markets25:09 Duration Mismatch in Banking and Loans25:32 Regulatory and Capital Arbitrage26:01 Flexibility in Private Markets26:30 Impact of Stock Prices on Strategic Acquisitions27:01 Stock Deals and Control in Acquisitions28:29 Accretive Acquisitions and Capital Raising31:29 Scale Benefits in Private Markets31:50 Big Ticket Transactions and Scale33:05 Investor Understanding of Scale in Private Markets33:37 Challenges in Public Market Investment in Alternative Managers36:50 Long-Term Trends in Private Markets38:03 Risks in Private Markets38:55 Transparency and Oversight in Private Markets39:30 Thematic Investing and Long-Term Trends40:31 Private Markets Framework for Public Stocks41:30 Emotional Investing and Long-Term Capital43:25 Geopolitical and Economic Policy Impacts45:38 March Madness: Top 4 Manager Picks47:09 Conclusion and Final ThoughtsEditing and post-production work for this episode was provided by The Podcast Consultant.Company Coverage and DisclosuresEvercore ISIGlenn Schorr| Ticker | Company| APO | Apollo Global Management, Inc.| BAC | Bank of America Corporation| Glenn Schorr holds a long position in equity securities of Bank of America Corporation.| BK | Bank of New York Mellon Corp.| Glenn Schorr holds a long position in equity securities of Bank of New York Mellon Corp.| BLK | BlackRock, Inc.| BlackRock, Inc. is a client of Evercore LLC, and Evercore LLC has provided investment banking services to BlackRock, Inc. in the last 12 months.| Evercore ISI or an affiliate expects to receive or intends to seek compensation for investment banking services from BlackRock, Inc. within the next three months.| Glenn Schorr holds a long position in equity securities of Blackrock Inc.| BX | Blackstone, Inc.| Blackstone, Inc. is a client of Evercore LLC, and Evercore LLC has provided investment banking services to Blackstone, Inc. in the last 12 months.| Evercore ISI or an affiliate expects to receive or intends to seek compensation for investment banking services from Blackstone, Inc. within the next three months.| An employee, employee's immediate family member, director or consultant of Evercore ISI or one of its affiliates (but not the covering research analyst or a member of the covering research analyst's household) is an officer, director or advisory board member of Blackstone, Inc.| Evercore ISI or an affiliate has received compensation from Blackstone, Inc. for investment banking services in the last 12 months.| Analyst has a financial interest in a private equity fund managed by Blackstone, Inc.| Glenn Schorr holds a long position in equity securities of Blackstone, Inc.| OWL | Blue Owl Capital, Inc| Evercore ISI or an affiliate has acted as a manager or co-manager of a public offering of securities by Blue Owl Capital, Inc in the last 12 months.| Blue Owl Capital, Inc is a client of Evercore LLC, and Evercore LLC has provided investment banking services to Blue Owl Capital, Inc in the last 12 months.| Evercore ISI or an affiliate has received compensation from Blue Owl Capital, Inc for investment banking services in the last 12 months.| BSIG | BrightSphere Investment| C | Citigroup, Inc.| An employee, employee's immediate family member, director or consultant of Evercore ISI or one of its affiliates (b...

Wie zu erwarten war, sehr wir vor dem Opening der Wall Street Gegenwind. Investoren ziehen sich im Vorfeld der heute Abend anstehenden reziproken Zölle ans Ufer zurück. Wie dem auch sei, rechnen viele Investoren an der Wall Street nach dem Ereignis mit einer Erholung der Wall Street. Der April tendiert nach einem schwachen März historisch betrachtet seit 1950 mit einer hohen Wahrscheinlichkeit freundlich. Nomura warnt jedoch, dass Investoren sich von der möglichen Rallye nicht täuschen lassen sollten. Die Folgen der Zölle dürften zunehmend sichtbar werden, mit einem nun erhöhten Risiko einer Rezession. Rivian meldet Auslieferungen von 8640 Fahrzeugen im ersten Quartal, und bestätigt die für 2025 geplanten Auslieferungen. Die Aktie ist trotzdem schwächer. Marktteilnehmer warten mit Spannung auf die Auslieferungen von Tesla. Die Messlatte hängt mit 355.000 Auslieferungen bei den Flüsterschätzungen sehr niedrig. Spannend wird vor allem die Frage, wann sich Elon Musk bei DOGE zurückziehen wird. Ein Podcast - featured by Handelsblatt. +++Probier Seeberger Snacks – deine natürliche Energiequelle. Mit dem Code wallstreet könnt ihr euch jetzt 20% Rabatt im Seeberger Onlineshop sichern: https://www.seeberger.de/?utm_campaign=podcast-q1&utm_medium=nativead&utm_source=podcast&utm_content=wallstreet +++ +++Erhalte einen exklusiven 15% Rabatt auf Saily eSIM Datentarife! Lade die Saily-App herunter und benutze den Code wallstreet beim Bezahlen: https://saily.com/wallstreet +++ +++EXKLUSIVER NordVPN Deal ➼ https://nordvpn.com/Wallstreet Jetzt risikofrei testen mit einer 30-Tage-Geld-zurück-Garantie!+++ +++ Alle Rabattcodes und Infos zu unseren Werbepartnern findet ihr hier: https://linktr.ee/wallstreet_podcast +++ Der Podcast wird vermarktet durch die Ad Alliance. Die allgemeinen Datenschutzrichtlinien der Ad Alliance finden Sie unter https://datenschutz.ad-alliance.de/podcast.html Die Ad Alliance verarbeitet im Zusammenhang mit dem Angebot die Podcasts-Daten. Wenn Sie der automatischen Übermittlung der Daten widersprechen wollen, klicken Sie hier: https://datenschutz.ad-alliance.de/podcast.html

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc This is Nelson John, and I'll bring you the top business and tech stories, let's get started.  Zepto Bets Big on Cold Chain for Fresh Produce Quick commerce is fast, but fresh produce needs better logistics. Zepto is doubling down on cold chain infrastructure to improve margins and quality. CEO Aadit Palicha is actively seeking cold supply chain experts to enhance operations. The company has partnered with Transport Corporation of India to expand storage in the South. Fruits and vegetables account for 8-10% of quick commerce sales but face 15% wastage due to India's fragmented cold chain. The market is projected to grow from $14.5 billion (2023) to $53 billion (2032). Zepto's private-label meat brand, Relish, leveraged cold logistics to hit ₹150 crore ARR in six months. Zomato Lays Off 600 Employees Amid Automation Push Zomato has reportedly laid off 600 customer support employees in a bid to cut costs as growth slows. The layoffs follow AI-driven automation in customer service and financial pressures at its quick commerce arm, Blinkit. Employees claim they were dismissed without notice periods or clear explanations, while Zomato cites performance issues. On Reddit, ex-employees shared grievances, with one alleging termination for being late by 28 minutes over three months. Despite the layoffs, Zomato's stock closed 0.84% higher at ₹203.20. Aditya Birla Exits Paper Business, Sells to ITC for ₹3,500 Crore Aditya Birla Real Estate Ltd (ABREL) is exiting the paper sector, selling Century Pulp and Paper to ITC Ltd for ₹3,500 crore. The deal surpassed estimates, with Nomura valuing it at 18x EV/EBITDA for FY25. ABREL's paper segment has struggled, with revenue falling 5.5% YoY in FY24 and margins shrinking by 410 basis points. The sale will help reduce net debt (₹4,300 crore) to near-zero, boosting ABREL's real estate expansion. However, significant cash flow from projects like Niyaara will only materialize from FY27 onwards. ABREL's stock is down 21% in 2025, and investors await Q4 results and the Niyaara Phase 3 launch in FY26. CAG Report Flags Revenue Losses, Weak Oversight in Telecom & Digital Infra The Comptroller and Auditor General (CAG) has raised alarms over governance failures in telecom, electronics, and postal services: • Telecom: The Department of Telecommunications (DoT) failed to recover ₹2,463.67 crore from telcos due to delayed audits. BSNL lost ₹1,757.76 crore by failing to bill Reliance Jio for technology use. • Electronics Manufacturing: Under M-SIPS, only ₹2,136 crore was disbursed from ₹36,991 crore in committed investments, causing policy instability for investors. • Digital Infrastructure: The ₹6,548-crore National Knowledge Network for research institutions was flagged for poor bandwidth utilization and cybersecurity gaps. • Postal Services: GST mismanagement and irregular promotions resulted in ₹17.22 crore in tax losses. The findings expose execution flaws in India's push for digital self-reliance. Shapoorji Pallonji Faces Insolvency Plea Over Unpaid ₹2.72 Crore The National Company Law Tribunal (NCLT)-Mumbai has issued a notice to Shapoorji Pallonji & Co. Pvt. Ltd (SPCPL) over an insolvency plea filed by Chennai-based Intertouch Metal Buildings Pvt. Ltd. The roofing firm alleges unpaid dues for work on Port Blair's Veer Savarkar International Airport. SPCPL must respond within seven days, with the next hearing on April 24. This isn't SPCPL's first insolvency dispute. In October 2024, NCLT dismissed a similar plea by KBC Infrastructure, ruling that insolvency laws cannot be used as a debt recovery tool. As legal proceedings unfold, all eyes are on Shapoorji Pallonji's response and whether the case progresses to full-fledged insolvency.

Last time we spoke about the January 28th Incident. In January of 1932, tensions escalated in Shanghai as anti-Japanese sentiments surged after Japan's invasion of Manchuria. Orchestrated by Yoshiko Kawashima, a Japanese spy, a provocation led to violence, sparking outrage among Japanese expatriates. Japan demanded apologies and compensation from China, threatening military action if their demands were unmet. As the Japanese military amassed forces in Shanghai, the Chinese 19th Route Army prepared to resist, igniting the conflict known as the January 28th Incident, marking the beginning of a fierce struggle for control. Amidst chaos, the Nanjing government struggled to respond to Japan's escalating aggression in Shanghai. Chiang Kai-Shek prioritized avoiding war, urging a diplomatic approach to protect Shanghai's economy. Despite pressure, the 19th Route Army was ordered to withdraw, but tensions flared when Japan attacked the Chinese garrison. The 19th Route Army fiercely resisted, leading to intense battles. As Japan sent reinforcements, Chiang faced mounting protests and criticism for his passive stance, questioning whether he could maintain his strategy against the encroaching enemy.   #144 The First Battle of Shanghai 1932 Welcome to the Fall and Rise of China Podcast, I am your dutiful host Craig Watson. But, before we start I want to also remind you this podcast is only made possible through the efforts of Kings and Generals over at Youtube. Perhaps you want to learn more about the history of Asia? Kings and Generals have an assortment of episodes on history of asia and much more  so go give them a look over on Youtube. So please subscribe to Kings and Generals over at Youtube and to continue helping us produce this content please check out www.patreon.com/kingsandgenerals. If you are still hungry for some more history related content, over on my channel, the Pacific War Channel where I cover the history of China and Japan from the 19th century until the end of the Pacific War. In the last episode we covered the January 28th Incident. At 11:30 pm on January 28, Japan ordered 2,300 Japanese Marines to advance westward along every branch road on the west side of North Sichuan Road, without waiting for a response. This road, which crosses into the northern area of the International Settlement and has frequently been designated as a Japanese defense zone, includes Target Road (now known as Wujin Road in Hongkou District, Shanghai), Qiujiang Road, and Yokohama Road. Their objective was to seize the Songhu Railway defense line at Tiantong'an Station. They faced strong resistance from the 19th Route Army, further escalating the conflict. In the early hours of the 29th, Japanese aircraft launched from the Notoro seaplane carrier, which was moored on the Huangpu River, attacked the Chinese district of Zhabei. Both the Commercial Press located at No. 584 Baoshan Road and the Oriental Library, the largest private library in China with over 300,000 books, were completely destroyed. That same day the 19th Route Army sent a telegram to the entire nation concerning the situation: Do forgive me it's a rough translation “Urgent. Dear Sir and Madam, the Japanese have occupied our three northeastern provinces, changing the color of our territory and making our nation perish. Recently, they have killed and set fire in Shanghai, and vagrants are everywhere, doing the most despicable and violent things in the world. Gunboats are coming one after another, and the Marines are all landed. At 12:00 a.m. on the 28th, they openly invaded our defense line in Zhabei, Shanghai, and challenged us. Guang Nai and others are soldiers, and they only know that it is their duty to defend themselves and defend their land. They cannot give up even an inch of land or an inch of grass. They resist to save the country and protect the race. Even if they sacrifice only one person and one bullet, they will never retreat and lose the personality of the soldiers of the Republic of China. This thing and this ambition are exposed to the sun and the sun and are known to the world. The spirits of our ancestors in heaven are truly relying on it”. On the morning of January 29, Chiang Kai-shek met with He Yingqin and Zhu Peide to discuss countermeasures. Simultaneously Zhu Peide convened a meeting with He Yingqin, Gu Zhutong, Li Jishen, Deng Shizeng, Lin Wei, and others to address issues such as defense deployment, the security of Nanjing and the Yangtze River, and resistance against Japan. Chiang Kai-Shek established the principles going forward for negotiations with Japan, emphasizing the need to prepare for talks while actively resisting. He stated that negotiations must have a clear final line of defense and a maximum limit that would not compromise administrative and territorial integrity, undermine the spirit of the Nine-Power Treaty, or jeopardize national sovereignty. If these limits were exceeded and unacceptable concessions were made, a decisive battle would be fought, even at the cost of defeat and death.  The defense and military strategy for Beijing and Shanghai included the 19th Route Army defending Shanghai with full strength, while the front guard army consisting of the 87th and 88th divisions would protect Nanjing. He Yingqin would remain in Nanjing, overseeing all party, government, and military personnel left behind. Chiang, along with the Central Political Council of the Kuomintang, the Ministry of Foreign Affairs of the National Government, and Chen Mingshu, all expressed their commitment to resisting Japanese aggression. Chiang also sent a telegram to He Chengjun, director of the Hubei Province Pacification Office, and Xu Tingyao, commander of the Fourth Division, stating "Last night, the Japanese invaders attacked our 19th Route Defense Line in Zhabei, Shanghai, and the battle is ongoing. Our army is determined to fight to the death. Their naval forces in Han and Xun will likely engage in military operations. We urge you to remain vigilant and defend yourselves, never yielding to them. The Fourth Division should concentrate on strict defense in Wuhan and avoid dispersal. If military funds become scarce, local governments will need to raise them independently." The National Government Military Committee appointed Chiang Kai-shek, Feng Yuxiang, Yan Xishan, and Zhang Xueliang as members responsible for mobilizing the army and commanding the Shanghai War. Chiang Kai-Shek officially resumed power after resigning to prevent a surrender and committed to a prolonged resistance. On January 30, the Chinese Nationalist Government announced the relocation of the capital to Luoyang. Chiang Kai-shek sent a telegram urging resistance against the Japanese and dispatched the elite Fifth Army to reinforce Shanghai. That night, Dai Ji, the commander of the Songhu Garrison, took charge of military operations in Shanghai, overseeing the 19th Route Army. The commander-in-chief was Jiang Guangnai, with Cai Tingkai as the army commander and division commanders Qu Shounian, Mao Weishou, and Shen Guanghan. Chiang Kai-Shek then issued a telegram to his troops across the nation and again I apologize for the rough translation. "Since the Northeast Incident began, the Central Government has been enduring humiliation and maintaining peace in order to avoid war and protect the lifeline of the country. It hopes to use justice and fairness to awaken the Japanese pirates. Unexpectedly, the more we tolerate, the more arrogant they become. When the Shanghai Incident occurred, we accepted their demands with great pain, but the Japanese pirates still brazenly pressed on, repeatedly attacking our Shanghai Defense Force, bombing civilian houses, throwing bombs on the streets, and our compatriots were ravaged. The country is about to perish. Anyone with blood in his veins would rather endure it. Since the 19th Route Army has risen up to defend itself bravely, our entire army In this time of national destruction and extinction, when the revolutionary soldiers are facing imminent danger, they should fight for the dignity of the country, strive for the survival of the nation, fulfill their responsibilities for the revolution, and be determined to die rather than live in disgrace, so as to deal with the brutal Japan that destroys peace and despises faith and integrity... Chiang Kai-shek and his comrades have shared hardships for a long time. Although I am now in the opposition, I am willing to swear to live and die with the soldiers and fulfill my bounden duty. I am here to inform you in advance with my blood and sincerity, and ask you to be determined and work hard, share the same hatred with the enemy, do not be arrogant, maintain the spirit of sacrifice, stay ready to fight, and save the country from danger." From that day on, the various ministries, commissions and committees of the National Government began to move to Luoyang, but the Military Commission and the Ministry of Foreign Affairs remained in Nanjing . At the same time, the frontline troops were ordered to be jointly commanded by the Minister of Military Affairs He Yingqin and the Chief of the General Staff Zhu Peide.  Typically Chinese sources breakdown what is known as the First Battle of Shanghai into three phases. In the previous episode we looked through the event up until the point of the first phase. After the initial fighting, both the 19th route army and Japanese agreed to a ceasefire so they could strengthen their positions and at least allow some form of diplomacy to occur. This went into effect on the 29th. As we mentioned, immediately afterwards the Japanese rapidly began reinforcing their position in Shanghai. They first sent the Sasebo 26th Squadron on the 30th, bearing 474 troops of the Sasebo 3rd Special Marine Corps alongside supplies. The next day the aircraft carriers Kaga and Hosho came over with 30 aircraft from the 1st air fleet. Then the cruisers Naka, Yura and Abukuma alongside 4 torpedo boats came bearing another 2000 marines. On February 1st the Terukoku Maru brought over the Yokosuka 1st Special Marine corps, roughly 525 men who landed at Huishan Wharf. With all that said and done, roughly 7000 Japanese troops had been brought over. On February 1st, the IJN warships began bombarding Nanjing from the Yangtze River, prompting Yu Jishi to frantically demand Chiang Kai-Shek transfer more troops to Shanghai. That night the Japanese light cruiser Tenryu, the protected cruisers Hirado and Taima, and the seven ships of the Navy's 23rd Destroyer Squadron fired upon Nanjing using four 140mm guns, 12 152mm single-mounted rapid-fire guns, 12 120mm single-mounted guns, and 20 76mm single-mounted rapid-fire guns. The rich and officials fled the city for refuge, but the Japanese army did not land any men to follow up the attack. Simultaneously 40,000 Shanghai workers from over 20 Japanese owned cotton mills began an anti-Japanese strike, being heavily backed by Communists. The workers began aiding the 19th route army to blockade the Japanese in the factories and streets and sabotage what they could.  On February 2nd, the Japanese army attacked Wusong several times, but was repelled each time. On the 3rd the Japanese expanded their attacks against Zhabei, Baziqiao and other locations, but the Chinese defenders successfully repelled these assaults as well. On the 4th, the Japanese launched their first major offensive, which extended the conflict to Jiangwan and Wusong. Following a day of intense fighting, the Wusong fort was destroyed by enemy bombardment; however, the Japanese army was unable to land due to the determined resistance of the Chinese defenders. The anti-aircraft artillery company from the 88th Division, reassigned to the 4th Regiment of the 156th Brigade of the 19th Route Army, managed to shoot down a Japanese aircraft. After the failure of the general offensive, Yukiichi Shiozawa was dismissed and sent back to Japan. Vice Admiral Yoshisaburo Nomura, the newly appointed commander of the Third Fleet, succeeded Shiozawa. After Nomura assumed his role, the Japanese army began to bolster its forces. Japan had initially planned to deploy troops when tensions escalated in Shanghai, but the navy had opposed this move. However, as the situation deteriorated, the navy was compelled to seek assistance from the army. On February 2, the Japanese cabinet officially decided to send troops. In response to the urgent circumstances in Shanghai, they resolved to dispatch the Shanghai Dispatch Mixed Brigade, led by Brigade Commander Major General Shimomoto Kuma, along with the 9th Division, commanded by Lieutenant General Ueda Kenkichi. The Shanghai Dispatch Mixed Brigade and the Second Independent Tank Squadron were prioritized for transport. Concurrently, the Japanese Navy also sent the Yokosuka 2nd Special Marine Corps to Shanghai. The 24th Mixed Brigade landed in Wusong on the afternoon of February 7. By this time, the combined forces of the Japanese navy, army, and air force had exceeded 10,000 personnel. At dawn on February 8, the Japanese Army's 24th Mixed Brigade launched an attack on Zhanghuabang, Yunzaobang, and Wusong Town along three routes, but they were repelled by our forces. Meanwhile on February 4, the National Government Military Commission sent out a telegram that divided the country into four defense zones. The first zone, which includes the area north of the Yellow River, was assigned to Zhang Xueliang as the commander-in-chief. The second zone, covering the area south of the Yellow River, was placed under the command of Chiang Kai-shek. The third zone, encompassing the area south of the Yangtze River as well as Fujian and Zhejiang provinces, was led by He Yingqin. The fourth zone, which includes Guangdong and Guangxi, was commanded by Chen Jitang. The telegram also stated that, aside from maintaining troops for local stability, all commanders were to concentrate their forces within their respective defense zones to confront the aggressive Japanese. Additionally, a directive was issued for the provinces of Sichuan, Hunan, Guizhou, Hubei, Shaanxi, and Henan to send troops to serve as a general reserve. On February 5, upon learning that the Japanese army had been redeployed from mainland China to Shanghai, Chairman of the Military Commission Chiang Kai-shek sent a telegram from Luoyang to He Yingqin. He instructed that if the Japanese forces landed, the Chinese Air Force would engage in combat. Additionally, Chiang sent a message of condolence to Jiang Guangnai, Cai Tingkai, and Dai Ji of the 19th Route Army, stating "Brothers, you have been fighting valiantly for a week. Each time I reflect on the tremendous sacrifices made by the soldiers and their dedication, I feel a deep sadness... If necessary, Zhong (Zheng) can come to lead in person. When the Air Force enters the fray, the Army must establish various signals in advance to communicate with it and ensure coordinated efforts..." On the same day, the 88th Division arrived in Suzhou. On February 6, Chiang ordered the 261st Brigade of the 87th Division to move from Nanjing to reinforce Kunshan. The troops reached Kunshan on February 7. On February 8, Chiang directed He Yingqin to transfer an artillery battalion to support the 19th Route Army. Then, on February 9, Chiang Kai-shek mobilized the First Division, led by Commander Hu Zongnan, and the Seventh Division, commanded by Wang Jun, to prepare for reinforcement of the 19th Route Army in Shanghai. February 8th marks the second phase of the battle. On the 10th, to ensure that the 88th Division of the Central Army complied with the orders from the 19th Route Army of the Guangdong Army, Chiang Kai-shek sent a telegram to Yu Jishi insisting that "your troops must strictly follow the commands of Commander-in-Chief Chiang and coordinate their movements with allied forces." The Japanese Marine Corps, under Yukio Shiozawa, initiated a three-pronged encirclement attack from Hongkou. The National Army mounted a determined defense and ultimately repelled the Japanese forces, pursuing and destroying them, which significantly lowered their morale. On February 11, Chen Cheng, commander of the Central Army's 18th Army, sent a telegram to Chiang Kai-shek from Ji'an, Jiangxi, reporting that the troops had not been paid for nearly two months and were lacking food. At that time, the National Government was planning to redeploy the National Army that had been engaged in suppressing the Communists in Jiangxi to Zhejiang and Shanghai and to relocate the capital to Luoyang.  On February 12, following a battle at Caojiaqiao, the Japanese army's strategy to consolidate their forces was entirely disrupted. The next morning, February 13, the Japanese 24th Mixed Brigade crossed the Caojiaqiao Bridge in Zhuozaobang and engaged with the Nationalist army. Seizing the moment, the 19th Route Army Headquarters aimed to annihilate the Japanese forces. The Nationalist army surrounded the Japanese troops near the Yong'an Cotton Mill. Additionally, 60 members of a suicide squad launched a suicide attack, resulting in the complete destruction of 1,600 Japanese soldiers. The Japanese army faced significant losses, thwarting their attempt to swiftly capture Wusong. On February 14, Chiang ordered the 88th and 87th Divisions, which were already stationed in Nanxiang and Kunshan near Shanghai, to be reorganized into the Fifth Army. He appointed Zhang Zhizhong, a volunteer eager to fight against the Japanese, as the commander of the Fifth Army. This new army was placed under the unified command of the 19th Route Army and took over the defense line stretching from the northern end of Jiangwan through Miaoxing to the western end of Wusong. It served as the left-wing army, while the 19th Route Army acted as the right-wing, tasked with defending Jiangwan, the area south of Dachang, and the urban region of Shanghai. To replenish the 19th Route Army's losses, Chiang repeatedly ordered reinforcements from various locations. For instance, on February 15, Shangguan Yunxiang dispatched 500 active soldiers from Bengbu to the 19th Route Army; on February 17, Liang Guanying sent 500 unarmed soldiers from Qingjiangpu; and on February 19, Liu Zhi contributed 1,000 active unarmed soldiers from Henan. On February 16, Chiang Kai-shek communicated with Finance Minister Song Ziwen via telegram, stating, "Since the Japanese refuse to withdraw their troops from Shanghai, we must resist until the end. ... Food supplies in Jiangxi and Henan will dwindle, and assistance will be completely halted. Please arrange to deposit 10 million yuan in central banknotes in Nanchang and 20 million yuan in Zhengzhou. This will allow the government to continue functioning, the army to be sustained, and perhaps we can navigate this crisis and avert collapse. This is my final request. I hope you can find a way to assist." To prevent any friction between the Fifth Army and the Nineteenth Route Army over competing for military accolades, Chiang Kai-shek sent a telegram to Zhang Zhizhong and Yu Jishi on February 18. "The fight against Japan is a matter of national survival and is not a matter of honor for an individual or a certain unit. Our frontline officers and men should fully understand this. Therefore, the honor of the 19th Route Army is the honor of our entire National Revolutionary Army. There is absolutely no distinction between honor and disgrace. The Fifth Army's joining the front line is feared by the enemy and will also be slandered by the reactionaries (those who oppose the Nanjing Central Government). If we can continue to fight in the name of the 19th Route Army, it will be enough to demonstrate the strength of our National Revolutionary Army. We will share life and death, let alone honor and disgrace. I hope that this will be conveyed to the officers and men of the Fifth Army. They must unite and fight with our 19th Route Army and make no sacrifices to complete the revolutionary mission." Over on the other side, following reports of significant losses suffered by the Japanese army in Wusong, Tokyo received an imperial decree from Emperor Hirohito demanding the Shanghai incident get settled quick. In response, Chief of Staff Zairen urgently ordered the 9th Army Division, commanded by Ueda Kenkichi, to swiftly reinforce Shanghai. By the afternoon of February 13, the main contingent of the 9th Division had arrived at Shanghai Port, and by February 16, all personnel had disembarked in Wusong. Consequently, Lieutenant General Ueda took over command from Nomura. At this point, the Japanese invading forces comprised over 30,000 troops from naval, land, and air units, along with 60 to 70 field artillery pieces, more than 60 aircraft, and dozens of ships concentrated at the Wusong mouth. Ueda issued a statement late on the night of the 13th, asserting, "If anyone obstructs our division from fulfilling its mission, we will take decisive action without hesitation." On the 18th, he sent an ultimatum to Cai Tingkai, demanding, "Your army must immediately cease hostilities and withdraw from the following areas by 5:00 p.m. on February 20: on the west bank of the Huangpu River, retreat from areas connecting the western end of the concession, Caojiadu Town, Zhoujiaqiao Town, and Pushong Town to the north; on the east bank, withdraw from areas connecting Lannidu and Zhangjialou Town to the north, and retreat to a zone 20 kilometers away from the border of each concession Additionally, all military installations in the specified areas must be dismantled and no new ones established. If these demands are not met, the Japanese army will have no choice but to act freely against your forces, and your army will bear all resulting consequences." In response to Ueda's ultimatum, Tsai and Chiang ordered their front-line troops to fire heavily at Japanese positions as a warning. On the morning of February 20, Ueda commanded a full-scale attack across the front, employing tactics to break through the center while flanking from both sides. The 9th Division led the assault on the junction of Jiangwan and Miaohang, aiming to encircle Wusong from the north with the Kurume Brigade and Zhabei with the Marine Corps from the south. The Japanese began with artillery bombardments, followed by infantry and tank assaults on the Zhanghuabang and Yangshupu lines, both of which were successfully repelled by Chinese defenders. Over a thousand Japanese soldiers and several tanks in Zhabei were killed or wounded due to landmines. On February 21, Ueda personally directed thousands of infantry, supported by aircraft and artillery, to attack the Chinese defensive positions. Both sides incurred heavy casualties, and the battle continued until dawn on the 23rd. The Japanese forces attempted to encircle Jiangwan Town from Jiangwan Station, but the Chinese defenders fought valiantly, launching multiple charges and capturing Japanese Major Kong Sheng along with hundreds of soldiers. Ultimately, the Japanese army was unable to withstand the resistance and began to retreat. After the Japanese 9th Division arrived in Shanghai, it prepared to initiate a second major assault on the defenders of the city. The strategy involved a comprehensive attack stretching from Zhabei to Wusong to contain the Chinese army's strength, with primary forces concentrated on Jiangwan and Miaohang. The goal was to seize these two strategic points, achieve a breakthrough in the center, sever the link between the 5th Army and the 19th Route Army, and then defeat them individually. At dawn on February 20, the Japanese dispatched over ten aircraft for reconnaissance and bombing missions over the Miaohang area. Naval artillery and heavy army cannons heavily shelled the Miaohang positions. Simultaneously, Japanese artillery bombarded the Yunzaobang area in an effort to force a crossing and facilitate the Miaohang offensive.   By 9 am, part of the Japanese forces advanced towards the Xiaochang Temple and the Maijiazhai position, immediately conducting a fire search on our troops' positions. At noon, 3,000 Japanese soldiers launched an attack against our forces. The officers and soldiers of the 527th Regiment, defending the Maijiazhai and Zhuyuandun positions, mounted a counterattack, marking the beginning of the Battle of Miaohang. After three hours of intense fighting, the Japanese suffered significant casualties and were unable to continue, retreating to their original positions. Following this, over 2,000 Japanese troops attacked the Xiaochang Temple and Jinjiatang positions. The officers and soldiers of the 523rd Regiment, taking cover in the trenches, launched counterattacks and successfully repelled the Japanese forces. As dusk fell, the Japanese infantry halted their assaults, but naval and land artillery continued to bombard our positions in an attempt to weaken our defenses and personnel for a renewed attack the following day. On February 21, Japanese artillery relentlessly shelled the positions of the 88th Division of the Fifth Army in Miaohang. Following this, thousands of Japanese infantry launched an assault on the Yanjiazhai and Miaohang Town front. As the Japanese forces advanced, the officers and soldiers of the 523rd and 524th Regiments bravely counterattacked and successfully repelled them. However, a significant number of enemy troops coordinated a comprehensive assault on the Maijiazhai, Zhuyuandun, Xiaochangmiao, and Yanjiazhai lines south of Miaohang. Our 523rd, 524th, and 527th Regiments engaged in intense combat with the enemy, particularly at the Zhuyuandun front near Maijiazhai and Xu Xu, where the fighting was especially fierce. After a day of conflict, the enemy was temporarily pushed back. On February 22, the Japanese 9th Division launched a full-scale attack on the Miaohang position held by the 88th Division of the Fifth Army. Throughout the day, aircraft bombed the Chinese defenders, and thousands of artillery shells were fired at them. However, under the direct command of Zhang Zhizhong, the enemy faced a devastating defeat due to the coordinated three-pronged assault by the Sun Yuanliang Brigade, the Song Xilian Brigade, and the 61st Division of the 19th Route Army. The Miaohang position was ultimately saved from peril, inflicting heavy casualties on the elite forces of the Japanese 9th Division and the Kurume Mixed Brigade. This victory became known as the "Miaohang Victory." In the days that followed, the enemy continued their bombardment and attacks but were consistently repelled by the defenders. The Japanese army suffered significant losses, shifting from an all-out offensive to a more focused approach before ultimately halting their attacks. By the 25th, Ueda's overall offensive strategy had also failed. On February 24, the Japanese army decided to escalate the conflict once more, transferring the 11th and 14th divisions from Japan to join the Shanghai Expeditionary Force, which included troops already engaged in the war. At that time, the flagship of the Japanese Navy's Third Fleet, the Izumo, sustained damage from a bombing raid carried out by the suicide squad of the 19th Route Army, which sent shockwaves through Japan. Additionally, the large troop presence made a quick resolution to the war impossible. Consequently, on the 23rd, the Japanese cabinet decided to promptly reinforce the army. The General Staff then established the Shanghai Expeditionary Army Command, appointing General Shirakawa Yoshinori, the former Minister of War in the Tanaka Cabinet, to replace Ueda. They dispatched the 11th Division (led by Lieutenant General Atsutarou Atsuto), the 14th Division (led by Lieutenant General Naoaki Matsuki), and over 100 aircraft to China to initiate a larger-scale offensive in Shanghai. After several reinforcements, the Japanese forces in Shanghai, under Shirakawa's command, grew to over 90,000 troops, supported by 80 warships and 300 aircraft, significantly enhancing their combat effectiveness. In contrast, the total strength of the Chinese defenders was less than 50,000, with inadequate equipment. After a month of intense fighting, the Chinese forces had suffered heavy losses, leaving their river defenses in the Taicang Liuhe area vulnerable. Learning from the failures of the previous three commanders' frontal assaults, Shirakawa opted to land at Liuhe and flank the Songhu defenders. He directed the 9th Division and other units to launch a direct attack on Songhu and Shanghai while using the 3rd Fleet to escort the 11th Division into the Yangtze River estuary. They executed surprise landings at Liuhekou, Yanglinkou, and Qiyakou, quickly outflanking the defenders. On March 1, the Japanese forces initiated attacks in Naobei, Jiangwan, and Miaohang, employing heavy artillery, field guns, and aircraft for continuous bombardment. The infantry capitalized on this to engage in close-quarters combat, resulting in heavy casualties on both sides. Meanwhile, Shirakawa secretly instructed the 11th Division to exploit the weakness of the Chinese troops in Liuhe, forcibly landing at Qiyakou, Yanglinkou, and Liubinkou, ultimately capturing Liuhe. The fall of Liuhe posed a significant threat to the flank and rear of the Chinese army, compelling the entire force to retreat to the second line of defense (the Jiading-Huangdu line) by the evening of March 1.  After 34 days of intense fighting, they were forced to retreat to their second line of defense. At this point, the war had entered its final phase, resulting in a stalemate between the two sides. On the 2nd, the Japanese army seized Shanghai, and by March 3, they occupied Zhenru and Nanxiang, subsequently announcing a ceasefire. Now while we have been focused on the Japanese and Chinese perspectives in this, the international community was also heavily involved in the background. After the outbreak of hostilities, the British and American consuls in Shanghai offered to mediate. However despite a ceasefire being implemented the hostilities continued. So on February 2nd, Britain, America, France, Italy and Germany sent a notice to China and Japan "proposing to stop the conflict; (1) both sides immediately stop all violent acts according to the following conditions; (2) there will be no mobilization or preparation for any hostile acts between the two countries; (3) the Chinese and Japanese combatants in Shanghai will withdraw from the contact points; (4) a neutral zone will be established to separate the combatants of both sides to protect the public concession. The area will be garrisoned by neutral military and police, and various methods will be formulated by the consular corps; (5) once the two countries accept the treaty, they will not make any demands or reservations in advance, but will quickly negotiate with the assistance of neutral observers or participants in accordance with the spirit of the Kellogg-War Pact and the December 9th League of Nations resolution to resolve all outstanding issues..." Nanjing generally accepted the terms, but Japan instead proposed non-military zones be established 20 miles around the major ports of Shanghai, Hankou, Tianjin, Qingdao and Guangzhou as a sort of counter proposal. Meanwhile at the League of Nations, Yan Huiqing was drawing attention to the Shanghai incident, obviously linking it to the Manchuria incident and advocated for Article 10 of the League of Nations Charter, which was in regards to respecting territorial integrity and political independence of league nations. The League of Nations agreed and organized a committee to investigate the Shanghai incident. On February 4th Chiang Kai-Shek would write in his diary "As long as we do not lose our national sovereignty and territory, and the Japanese invaders do not put forward unacceptable conditions, we can take advantage of the opportunity of British and American intervention to negotiate with them; we cannot take a tough stance when other countries intervene, which will lead to adverse effects." By late February US Secretary of State Henry Stimson warned Japan for the second time, that the Nine Power Treaty and other treaties had to be maintained. Then on the 23rd he sent a letter reiterating the nine-power treaty and Kellogg War Pact to the League of Nations in regards to the Shanghai situation. On the 29th, a four-point plan for mediating the Shanghai incident was adopted at the League of Nations. The objective was to swiftly establish a local ceasefire agreement with the assistance of civil and military officials from various countries present in Shanghai. Following this, a round-table meeting was to be convened with representatives from nations with vested interests in Shanghai to discuss security measures for the International Settlement, the French Concession, and the local residents, as well as to address other issues. Subsequently, representatives from Britain, France, Italy, Germany, Spain, and other nations unanimously supported the plan, with Chinese representative Yan Huiqing and Japanese representative Sato Naotake also indicating their general agreement in principle. However, on March 2, the situation escalated when the Japanese army compelled the Chinese forces to retreat to their second line of defense. The Japanese side adopted a more aggressive stance, presenting four stringent conditions and insisting that the Chinese army withdraw first before halting their attacks. The Japanese forces were only willing to withdraw to the Shanghai and Wusong areas and refused to do so under the supervision of neutral countries, which the Chinese government firmly rejected. On March 3, the Japanese army launched another offensive. On that same day, U.S. Secretary of State Stimson summoned Japanese Ambassador to the United States Idebuchi, condemning Japan for accepting the League of Nations resolution on February 29 while simultaneously escalating military operations. On March 3rd a ceasefire came into effect as a formal meeting was held at the British consulate. The Chinese delegation was led by Guo Taiqi, the Deputy Minister of Foreign Affairs, along with military representatives Dai Ji, Huang Qiang, and seven others. The Japanese delegation included Shigemitsu Mamoru, Minister to China, and military representatives Ueda, Tashiro, and nine others. Officials from Britain, the United States, France, and other nations also participated in the meeting. During the negotiations, numerous contentious issues arose, particularly regarding the timing and location of the Japanese army's withdrawal. It would take until May 5th for a armistice agreement to be signed. The agreement designated Shanghai as a demilitarized zone, prohibiting China from stationing troops in the areas around Shanghai, Suzhou, and Kunshan, while permitting a limited number of Japanese units to remain in the city. China was permitted to maintain only a small police force within Shanghai. According to Chinese war reports, a total of 10,254 Japanese soldiers were killed or wounded in the Battle of Shanghai on January 28. According to Japanese data, a total of 3,091 Japanese soldiers were killed or wounded in the invasion of Shanghai: 620 Japanese soldiers were killed and 1,622 were wounded in the army; 149 Japanese soldiers were killed and 700 were wounded in the navy. Another Chinese report, stated the 19th Route Army and the Fifth Army suffered a total of 14,104 casualties 4,274 killed and 9,830 wounded. Among them, the 19th Route Army suffered 8,792 casualties, while the Fifth Army suffered 5,312 casualties. Shanghai residents faced bombardments from Japanese aircraft and artillery, resulting in over 6,080 fatalities, more than 2,000 injuries, 10,400 missing persons, and property losses totaling 1.6 billion yuan. At the onset of the war, the Japanese military intentionally targeted cultural institutions in Shanghai, such as the Commercial Press and the Oriental Library, leading to the total destruction of the Commercial Press, the oldest and largest publishing house in China. The Oriental Library, which housed millions of volumes, including over 100,000 rare ancient texts from the Song and Yuan dynasties and the Sikuquanshu compiled during the Qianlong era of the Qing Dynasty, was first devastated by artillery fire and then looted by Japanese forces. Reports from that time indicated that the Japanese army used trucks to transport the remaining books for seven consecutive days. I would like to take this time to remind you all that this podcast is only made possible through the efforts of Kings and Generals over at Youtube. Please go subscribe to Kings and Generals over at Youtube and to continue helping us produce this content please check out www.patreon.com/kingsandgenerals. If you are still hungry after that, give my personal channel a look over at The Pacific War Channel at Youtube, it would mean a lot to me. Thus what became known as the first battle of Shanghai had come to a not so swift end. Was its resolvement a victory for the League of Nations? Or was it just another indicator that the League of Nations was nothing but promises and pieces of paper? One man took notice of the Manchuria and Shanghai incidents, and he would soon bring Europe into a global war.  

In the week to date, US bond yields are a little higher across the curve, and the USD has been a little stronger too, while equities really have had a couple of up and down days. Another big theme for global markets has been around the idea of US exceptionalism, that took a dent as some US data printed weaker, Europe data looked better, and as China and Europe announced some stimulus plans over prior weeks. For the week ahead, it really is crunch time with April 2 tariff announcements just around the corner. Chapters: US (01:56), Europe (10:47), Asia (13:59).

In this episode Tyler Mount shares insights into his non-traditional branding agency, Henry Street Creative, and emphasizes the importance of authenticity, kindness, and fun in his work. He discusses the significance of relationship building over traditional networking, providing value to clients, and fostering genuine connections. Tyler also reflects on his entertainment background, his belief in the power of storytelling, and the value of showing up authentically. Additionally, Tyler introduces his new course, the 'Empire System,' designed to help business leaders achieve success. The episode wraps up with a fun rapid-fire segment and Tyler sharing ways for listeners to stay connected with him. Episode Highlights: 04:18 The Importance of Joy in Business 05:19 Building Relationships and Networking 10:46 Authenticity in Business 14:51 Working with High-Profile Clients About Tyler: As the nation’s leading expert in real estate branding and marketing, Tyler Mount has served as a consultant to nearly 1000 real estate agents spanning 14 countries worldwide. His experience spans brand development for residential agents, national brokerages, and commercial brokers, in addition to new development portfolios valued at over $7 billion. As an industry-leading branding and digital strategy expert and owner of Henry Street Creative, a creative agency, specializing in brand design, content creation, and web development for some of the most esteemed industry professionals, Tyler and his team have partnered with Ryan Serhant, Spencer Rascoff (Founder, Zillow), Pacaso, John Legere (CEO, T-Mobile), NBC, Nomura, Baccarat, 1 Hotel, and countless others. Tyler’s career has been profiled in dozens of esteemed publications, including The New York Times, Forbes Magazine, Medium, and Out Magazine, in addition to serving as keynote speaker for marketing and real estate conferences across the country. Connect with Tyler: Websites: https://tylergmount.com/ https://henrystreetcreative.com/ Socials: https://www.linkedin.com/in/tylermount/ https://www.instagram.com/tylergmount/ IT'S TIME TO SHOW UP WITH CONFIDENCE, MAKE AN IMPACT, AND MOVE THE BALL:

Financial markets have been difficult to navigate, with equity markets bouncing from their recent lows but still seeing sizable intraday swings. Interest rates seem to be similarly caught between potential upside inflation risks from some sources, and challenging growth dynamics on the other. And all of this comes ahead of the April 2nd tariff announcements from the US which also have the potential to jolt markets further. In Europe, we look for further signs that German's fiscal reform is feeding into stronger growth expectations, while the UK's fiscal room looks more constrained. In Asia, we discuss likely policy responses in Indonesia, Thailand and Singapore. Chapters: US (02:08), Europe (11:05), Asia (15:31).

Market participants continue to grapple with a very high degree of uncertainty which is starting to have real economic consequences. The week ahead should be very interesting with key central bank decisions, and we could get some guidance on how policymakers think about and deal with the uncertainty, particularly from rising global trade tensions. We share our expectations for an on-hold decision at the upcoming FOMC meeting, and for the Fed's tone to continue to emphasize patience. We also expect a pause from the BOE's cutting cycle. Lastly, we discuss why communication is a bigger focus this time from the BOJ's meeting where a skip in the hiking cycle is widely expected. Chapters: US (01:53), Europe (10:39), Japan (16:43), Asia (21:22).

It's Friday, March 14th, 2025. This is Nelson John, let's get started.  LG Electronics India's ₹15,000 Crore IPO Gets SEBI Nod LG Electronics India has received SEBI approval for its ₹15,000 crore IPO, following Hyundai Motors as the second South Korean company to list in India. The 100% offer-for-sale (OFS) will see the parent company offload a 15% stake, with proceeds not going to LG India. With ₹64,087 crore revenue in FY24, the consumer electronics giant is gearing up for listing amid rising demand for premium appliances. Tata Motors Faces Headwinds as Auto Rally Cools India's booming auto industry is slowing down. The Nifty Auto Index, up 36% post-pandemic, has dipped 25% since September, with Tata Motors losing 33% of its value. The slowdown in Jaguar Land Rover (JLR) sales, tightening EU emission norms, and China's EV shift have hit Tata hard. Its EV market share in India has dropped from 73% to 53% due to rising competition. Despite these challenges, Tata remains bullish on JLR's cash flow, but investors await signs of a rebound. Reliance FMCG Expansion Will Take Time Reliance Consumer Products Ltd (RCPL) is scaling up its FMCG business, aiming for nationwide reach in 3-4 years. With brands like Campa Cola and Independence, RCPL has already taken 10% of the sparkling beverage market in key states. However, success hinges on building a strong general trade network—critical for India's mom-and-pop-driven market. With a target of 5-6 million retail outlets and ₹1,000 crore turnover expected for FY25, Reliance is playing the long game. CG Power's Big Bets on Railways and Semiconductors CG Power is capitalizing on India's infrastructure push, securing a ₹450 crore contract for Vande Bharat trainsets. It's also making a ₹7,600 crore bet on semiconductors, launching a chip assembly plant in Gujarat with government backing. A ₹9,706 crore order book (up 70% YoY) signals growth ahead. Brokerages are bullish—Nomura projects a 33% upside. With India prioritizing infrastructure and high-tech industries, CG Power is positioning itself as an industrial powerhouse. Sun Pharma Expands Oncology Play with $355M Checkpoint Buy Sun Pharma is strengthening its oncology pipeline with the $355 million acquisition of US-based Checkpoint Therapeutics. This gives it access to Unloxcyt, an FDA-approved skin cancer drug with a $500M peak sales potential. Though Checkpoint has been loss-making, Sun sees long-term value in high-margin specialty drugs, which now contribute 18% of revenue. However, with the stock down 11% in 2025, the success of Unloxcyt's launch will be critical for investor confidence.

Les family offices, connus en bon français comme gestionnaires de patrimoines familiaux sont de plus sollicitées. Comment fonctionnent ces structures ? Quel est leur rôle ? Pourquoi sont-elles critiquées ? Décryptage. Ne tournons pas autour du pot : le secteur est très secret. Les family offices, ces sociétés privées de gestion de patrimoine pour des personnes très fortunées, bref, les super riches, prennent de plus en plus de place. Leur mission est double : gérer l'argent des concernés tout en le faisant fructifier et donc évidemment, les rendre encore plus riches. Pour résumer, préserver le patrimoine et rechercher de la rentabilité. Si on en parle autant, c'est parce que ces structures sont très sollicitées et deviennent très importantes. Mais aussi et surtout parce qu'il y a de plus en plus de milliardaires. Au cours de la dernière décennie, d'après la banque UBS, le nombre d'ultras riches a grimpé de plus de moitié, ce qui implique davantage de demandes de services de family offices.À lire aussiLa richesse des milliardaires a augmenté trois fois plus vite en 2024 qu'en 2023, selon OxfamLe cabinet Deloitte recense aujourd'hui plus de 8 000 structures de ce type dans le monde gérant 3 100 milliards de dollars d'actifs. Dans cinq ans, en 2030, ce même cabinet estime à 11 000 family offices à travers la planète pour 5 400 milliards de dollars. Le secteur est en pleine expansion. Différents modèles Il existe deux types de family offices. Les « simple » qui gèrent une seule et unique famille. C'est avantageux car la gestion est ultra personnalisée avec peu ou pas de régulation. Et puis les « multi », qui gèrent plusieurs fortunes. Cela réduit les coûts et permet de peser en cas d'opération financière conjointe par exemple, mais à l'inverse, c'est moins confidentiel que les « simple » et la régulation y est plus importante. Alors, pourquoi ces fortunes ne s'offrent-elles pas les services de banquiers spécialisés ? Tout simplement parce que ces family offices sont beaucoup plus souples et bien moins régulés que les banques.  Plus de régulation Si le milieu est secret, la structure juridique des family offices est complexe et encore plus floue. Ils ne sont pas soumis aux mêmes règlementations que les fonds d'investissement ou les banques et n'ont pas d'obligation de transparence sur leurs actifs. La critique est aussi récurrente concernant la concentration du pouvoir financier avec les multi offices, ce qui peut atteindre parfois plusieurs centaines de milliards de dollars et donc être un risque sur les marchés financiers. Par exemple en 2021 a éclaté l'affaire Archegos. Dans les grandes lignes, un family office a causé des milliards de dollars de pertes chez des banques comme Nomura, Goldman Sachs et le Crédit suisse. Mais le secteur fait l'objet de programmes de régulation. Une loi a été votée en ce sens aux États-Unis après l'affaire Archegos. Mais le texte n'est pour le moment pas entré en vigueur, et ça pourrait encore attendre puisque Donald Trump ne fait pas de la lutte contre la criminalité financière sa priorité. Par ailleurs, d'autres pays et régions comptent sur ces structures et les fortunes qu'elles gèrent pour faire tourner leur économie, comme Singapour, Dubaï, Hong-Kong et, dans une moindre mesure, la Suisse ! 

It's a big week for China with all eyes on the National People's Congress (NPC), where fiscal measures could be announced. We outline our expectations and whether the NPC could potentially provide a lift in market sentiment. In the US, we preview the February employment report and its impact on Fed policy, and digest the latest announcements on tariffs. In Europe, we discuss our expectations of the ECB, where we go from here after the German elections and what is Europe's next move around the peace deal. Chapters: US (02:10), Europe (07:40), Asia (15:45).

Analizamos a fondo a una de las fotógrafas japonesas más importantes del panorama artístico contemporáneo.

Chinese policymakers will likely adopt a more pro-growth stance and strengthen "extraordinary countercyclical measures" to spur the economy amid pressing challenges from sluggish domestic demand and external uncertainties, economists said.经济学家表示，面对国内需求疲软、外部不确定性等紧迫挑战，中国政策制定者可能会采取更加倾向于经济增长的立场，并加强“超常规逆周期调节”以刺激经济。They anticipate a new round of stimulus packages focusing on driving domestic demand and boosting consumption to address domestic structural issues, offset the rising headwinds from a grimmer global environment and foster sustainable, high-quality growth in the long run.他们预计，新一轮刺激计划将侧重于拉动内需、促进消费，解决国内结构性问题，抵消全球环境恶化带来的日益加剧的逆风，促进长期的、可持续的高质量增长。The economists also said they believe that measures in the pipeline may include more public borrowing and spending, with a growing shift of policy emphasis to consumption, enhanced financial support for low-income households, and increased spending on the property sector through the buying back of land or by helping developers finish presold homes.经济学家还表示，他们认为即将出台的措施可能包括增加财政支出、政策重点逐渐转向消费、加强对低收入家庭的财政支持、通过回购土地或帮助开发商完成预售房屋来增加房地产行业支出。Their comments came as the market is closely watching how China will draw up growth targets and policies to revive the world's second-largest economy when China's top legislative and political advisory bodies meet for the annual two sessions in early March.这些评论发表之际，中国即将在3月初召开全国两会，而市场正密切关注中国会如何制定增长目标和政策，重振世界第二大经济体。Noting that the broader economy is still facing pressures from a harsher external environment and still-weak domestic demand, Sun Xuegong, director of the department of policy study and consultation at the Chinese Academy of Macroeconomic Research, said that policymakers will likely introduce a package of stimulus measures aimed at boosting market confidence and stabilizing expectations. The academy is part of the National Development and Reform Commission, the country's top economic regulator.中国宏观经济研究院决策咨询部主任孙学工指出，当前经济仍面临外部环境恶化、内需持续疲软的压力，政策制定者可能会推出一系列刺激措施，提振市场信心、稳定市场预期。中国宏观经济研究院是中国最高经济管理部门国家发展和改革委员会的直属研究机构。As authorities pledged to implement extraordinary countercyclical policies this year, Sun highlighted the need to expand fiscal expenditure, with policy focus shifting to spurring consumption.孙学工强调，由于政府已承诺今年实施超常规逆周期政策，有必要扩大财政支出，将政策重点转向刺激消费。"We need a comprehensive policy mix to boost consumption," Sun said in an interview with China Daily. "The government has already announced raising the pension level and providing subsidies to the low-income group. And this year, the country will extend the program of trade-in deals for consumer goods and expand the scope to more fields of consumption."孙学工在接受《中国日报》采访时表示：“我们需要一套综合政策来提振消费。政府已经宣布提高养老金水平，为低收入群体提供补贴。今年，中国还将延长消费品以旧换新计划，并将范围扩大到更多消费领域。”With a series of existing policies taking effect gradually and more supportive measures in the pipeline, Sun said he expects to see a pickup in consumption.孙学工表示，随着一系列现有政策逐步生效，更多支持性措施即将出台，预计消费将有所回升。At a study session held last week by the State Council, China's Cabinet, Premier Li Qiang emphasized boosting consumption and improving people's livelihoods through stronger and more targeted measures, in a bid to strengthen the fundamental role of consumption in driving economic development.2月21日，国务院常务会议召开。会议上，国务院总理李强强调，要通过更有力、更有针对性的措施提振消费、改善民生，增强消费在推动经济发展中的基础性作用。Wang Tao, chief China economist at UBS Investment Bank, said her team expects the government to ramp up fiscal spending to support consumption and the household sector, including more than doubling the size of the trade-in program to over 300 billion yuan ($41.3 billion), creating a subsidy program for families with young children, and increasing the payout level of residents' basic pension and the government contribution to basic social insurance.瑞银证券中国首席经济学家汪涛表示，我们团队预计政府将加大对消费及居民部门的财政支出，包括将消费品以旧换新规模扩大一倍以上至3000亿元人民币（413亿美元）、设立生育和育儿补贴计划、提高城乡居民基础养老金支付水平及政府对基本社保的财政补助水平。"These much-anticipated measures could gradually help underpin household confidence and unleash consumption potential in the long run," Wang said.汪涛表示：“这些市场期待已久的措施有助于逐步提振居民信心、释放长期消费增长潜力。”On the monetary front, Wang said she anticipates that the two sessions will follow the "moderately loose" monetary policy tone set during the Central Economic Work Conference in December, with an explicit call for lowering the funding cost of corporate financing and household credit, cutting reserve requirement ratios and policy rates and enhancing counter cyclical adjustments.汪涛表示，在货币政策方面，她预计两会或将维持2024年12月中央经济工作会议所提出的“适度宽松”的货币政策基调，包括明确要求降低企业融资及居民信贷成本、下调存款准备金率及政策利率、加强逆周期调节。Tian Xuan, associate dean of Tsinghua University's PBC School of Finance, said this year's economic growth target will likely remain at "around 5 percent", the same as last year, reflecting the continuity and consistency of policies and aligning with the country's aspiration that its per capita GDP would reach the level of a moderately developed economy by 2035.清华大学五道口金融学院副院长田轩表示，今年的经济增长目标可能仍保持与去年持平的“5%左右”，体现政策的连续性和一致性，符合中国到2035年人均国内生产总值达到中等发达国家水平的愿望。The expectation of an unchanged growth target comes as China's major economic hubs, such as Beijing and Shanghai as well as Guangdong province, have announced GDP growth goals of around 5 percent for the year.北京、上海、广东等中国主要经济中心已宣布今年GDP增长目标为5%左右，因此预期今年经济增长目标不变。"It would be a goal that we need to strive for and reach with extra effort, which can effectively inspire all the people across the country to work hard together," said Tian, who expects this year's budget deficit-to-GDP ratio to increase to 4 percent or higher.田轩预计今年财政赤字率将提高至4%或以上，他表示：“这将是一个我们需要争取并付出额外努力才能实现的目标，可以有效激励全国人民共同努力。”Lu Ting, chief China economist at Nomura, said a higher fiscal deficit ratio would allow the central government to issue more bonds, ramp up transfers to local governments and alleviate fiscal pressures.野村证券中国区首席经济学家陆挺表示，增加财政赤字率可以让中央政府发行更多债券，增加给地方政府的转移支付，缓解财政压力。Lu said the fiscal stimulus package will likely focus on areas including funding for a trade-in program for equipment upgrades and consumer goods, spending on the property sector through the buying back of land or by helping developers finish presold homes, and financial support for low-income households as well as funding to encourage childbirth.陆挺表示，财政刺激计划可能重点关注以下几个领域：为设备升级和消费品以旧换新计划提供资金；通过回购土地或帮助开发商完成预售房屋来增加房地产行业的支出；为低收入家庭提供财政支持；为鼓励生育提供资金。"The Chinese economy may get off to a relatively good start.…We expect year-on-year real GDP growth to stay at 5 percent in the first quarter," he said.他表示：“中国经济可能迎来一个相对良好的开局……我们预计第一季度实际GDP同比增长率将保持在5%。”The breakthrough of China's homegrown artificial intelligence model DeepSeek has triggered a stock rally that may boost investment and consumption, while the expansion of the trade-in program is stimulating sales of digital goods, he added.他补充说，中国自主研发的人工智能模型DeepSeek的突破性成果引发股市上涨，这可能会促进投资和消费，而扩大以旧换新范围也在刺激数码产品的销售。explicitadj.清楚明白的；明确的

Synopsis: Host Alok Tayi sits down with Clare Terlouw, Head of Ventures at LifeArc Ventures, to explore biotech investing from an LP perspective. Clare shares her unique journey—from physiotherapy to investment banking and, ultimately, leading venture investments at a medical charity. The conversation delves into LifeArc's role in bridging the funding gap for biotech innovation, the challenges of attracting LP capital, and the future of biotech investing. If you're curious about how a medical charity strategically deploys capital while fueling scientific breakthroughs, this episode is a must-listen! Biography: Clare Terlouw is Head of LifeArc Ventures, responsible for LifeArc's portfolio of direct and LP investments across the life sciences sector. The venture investment fund focuses on early stage life sciences companies at seed to Series A, with significant follow-on investment reserved for successful portfolio companies. Clare has significant expertise in funding innovative life sciences companies in the private and public markets. She was previously Head of Corporate Development at Syncona Investment Management Ltd, a FTSE250 healthcare investment trust which builds and invests in life science companies, and has more than 15 years of biotech and healthcare financing experience as a UK investment banker at Nomura, Numis Securities and Peel Hunt. Clare was a physiotherapist in Canada prior to moving into finance. Clare is a board member of the UK Biotechnology Industry Association and director of a number of venture-backed companies.

Market sentiment seems to be holding in pretty well as this week comes to a close. Equity markets are generally holding up at healthy levels, credit spreads remain pretty tight, and commodity currencies, which are often seen as global growth sensitive and risk barometers, are holding up at higher levels. This week in the US, our focus will be on core PCE inflation and any new Trump or tariff developments. In Europe, we'll be watching the German election fallout, along with the latest inflation readings. Then it's the latest from Asia, with central bank meetings in Korea and Thailand, and China PMI data ahead. Chapters: US (02:16), Europe (06:46), Asia (11:31).

Early signs of a potential Russia-Ukraine peace deal are boosting market optimism, with EUR/USD trading up towards its highest level since late-January and European equities continuing to surge. We discuss what this might mean for the euro area outlook. This positivity is, however, still being partially offset by the ongoing threat of US tariffs and by sticky inflation data in the US. We also preview next week's central bank decisions in Australia, New Zealand and Indonesia. Chapters: Europe (02:02), Asia (07:32), US (11:38).

This past week began with the news that Mexico and Canada had secured a temporary reprieve from US tariffs. However, we see higher tariffs as highly likely. This week also brought us stronger-than-expected earnings data in Japan. Looking ahead, in the US our focus will be on any further tariff news, the January CPI and Fed-speak. In Europe, we'll be watching out for the latest activity readings, and ECB and BOE speakers, as well as a central bank meeting in the Philippines. Chapters: US (01:49), Europe (06:22), Asia (10:31).

Rick Nomura spent two years as the starting second baseman and a fan favorite at Arkansas in 2015 and 2016, and he played a huge part in getting current Razorback Nolan Souza to Fayetteville. On today's episode of The Baumbastic Podcast, Nomura discusses coaching Souza, some of his best memories as a Diamond Hog and what it was like to play for Dave Van Horn! Check out the daily Razorback Basketball Mailbag https://www.youtube.com/watch?v=kSMx4u4Xnwc&list=PLJiDrEgHVPu78t6p9fsFiBDu3TLuqRe3Q #arkansas #razorbacks #football #basketball #baseball #sampittman #johncalipari SHOUTOUT TO OUR SPONSORS: RHOBACK Check out the highest quality of performance hoodies, polos, quarter zips, joggers, and more with Rhoback clothing! All different types of apparel for men, women, and kids that will have you ready to take on any occasion this sports season! Visit www.rhoback.com & use promo code: HOGSBY20 for 20% off your 1st purchase! Be sure to check out their amazing Razorback game day gear in their collections section! ----------------------------------------------------------------------------- FAYETTEVILLE FLY COMPANY Fayetteville Fly Company is a local small business based right here in Fayetteville. They offer apparel for outdoor enthusiasts and weekend warriors who enjoy everything NW Arkansas has to offer including fishing, hiking, biking, hunting and more. Fayetteville Fly Co carries a full line of hats, long and short sleeved shirts, outerwear, and more. Use code: HOGSBY20 for 20% off purchases at www.fflyco.com Free Shipping on all orders of $50 (5% back to local non-profits supporting nature conservation efforts) Gear up for the Holidays Check out New full zip jackets and hoodies in time for colder weather ahead! ----------------------------------------------------------------------------- ALUMNI HALL 3417 N College Ave, Fayetteville, AR 72703 479-435-6352 www.insidearkansas.com/alumnihall The best and largest selection of Razorback gear Apparel for the family - mens, womens, kids, pets too Razorback apparel, accessories, hats, Yeti, gifts - Alumni Hall has it all Hall Pass Rewards - Earn points with your purchases and get rewarded! Once you've spent $150 (which is easy to do), you'll get $10 off your next purchase Have the nice brands we love (for men) - Nike, Columbia, Cutter & Buck, Johnnie-O, Onward Reserve, Peter Millar, southern tide, Tommy Bahama, Turtleson. We know some athletes so for our friends that shop the big and tall Hogs gear - shop today at www.insidearkansas.com/alumnihall Alumni Hall - The ultimate Razorback shopping destination! ----------------------------------------------------------------------------- BET SARACEN Arkansas' #1 Sports Betting App! Visit www.betsaracen.com to check out the latest spreads, lines, O/U, parlays, and more! BetSaracen has specials running every day that are unique to everyone here in the great, state of Arkansas! Download the BetSaracen app today on the Apple or Google Play store and get to winning big ONLY with BetSaracen…Arkansas' #1 Sports Betting App! https://apps.apple.com/us/app/saracen/id1612098207 ----------------------------------------------------------------------------- BRYANT TECHNOLOGIES Whether it's structured cabling, security camera installation, digital signage, or TV mounting, Bryant Technologies has you covered. They service the entire state of Arkansas as well as all of Arkansas' bordering states! Have Bryant Technologies help you with all of your network & security needs. Give them a call at 870-883-0330 or check out their website at www.bryantstechnologies.com It's Bryant Technologies…Quality Work. Guaranteed. Learn more about your ad choices. Visit megaphone.fm/adchoices

It's been another big week, with the news on DeepSeek rattling global equity markets, led by the tech sector. The Fed's on-hold decision came and went as expected, however we have made an important change to our Fed forecasts. Coming up, the US employment report will be key to watch, alongside hints on whether tariffs will soon be implemented. Elsewhere, we have the BOE decision where a cut is widely expected, while activity data in Europe could again remain weak. In Asia, the spotlight is on India with a likely pivotal central bank decision on tap, just a few days after the government's FY26 budget was unveiled. Chapters: US (02:12), Europe (08:02), Asia (12:21).

We are only a few days into President Trump's new term, but already there has been a lot of action. Over 25 executive orders have been signed, and we discuss what these might mean for the macro economic outlook. In Europe, we look at the likely 25bp cut by the ECB, signs of short-term positivity in the region and the possible response to Trump's policies. Finally, we focus on how the latest developments impact China and what policy response, if any, is on its way. Chapters: US (01:53), Europe (07:31), Asia (10:32).

The winds of change are blowing around the globe. 74 countries representing half of the world's population held national elections last year. Many of them -- including the US -- saw a replacement of the ruling incumbent by the opposition, often one promising a more nationalistic agenda. With so many new leaders and their accompanying new policies, what is the outlook for the global economy and financial markets in 2025? To discuss, we have the great fortune of speaking today with Richard Koo, Chief Economist at the Nomura Research Institute as well as author of numerous best-selling books on economics. WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com

We've had a very busy start to the year and the excitement is likely to continue with the focus on Donald Trump's inauguration on Monday 20th January. In this episode, we outline what policy announcements to expect in the early part of Trump's second term, and how Asian economies may respond. In Europe we will be digging into recent UK market volatility and prospects for the labour market. And last but certainly not least, we preview the Bank of Japan decision, where we expect a 25bp hike. Chapters: Markets (01:08) US (02:11), Asia (09:31), Europe (12:56), Japan (18:04).

The week ahead promises to be another eventful one, with key CPI data in the US and the UK. We also have tier-1 data in China and a couple of central bank decisions in Asia. Recent comments from President-elect Trump particularly on tariffs, could provide some hints of what's to come as we approach his inauguration. We will close with a special segment focusing on the outlook for Asian currencies, which have been facing significant pressures recently and are therefore in the spotlight. Chapters: US (01:35), Europe (07:11), Asia (11:18), Asia FX (18:37).

In this episode of Careers in Finance on FinPod, we chat with Chris Stanley, an experienced finance professional turned successful business founder, about his journey to where he is today.During this episode, Chris shares how he has found that leaning into the network you have at an early age, no matter how big or small, is the best way to scale your career. He studied Economics at Yale University and landed his first job in Sales and Trading at Nomura in New York. He credits this experience with establishing the hustle, work ethic, and resilience required to be an entrepreneur. Today, Chris is the Founder of Patterns.app and is passionate about leveraging AI to boost productivity and accuracy and transform the workflow of financial accounting in today's data-driven world. Join us as we chat through all of this and more.

This year could be all about Trump, tariffs, and potentially turbulence. In this episode, we discuss our recently published annual outlooks and shine a spotlight on the key data and events over the coming week. In the US, our focus will be on the services ISM and payrolls reports. In Europe, CPI and final December PMI data will be released. Then it's the latest from Asia, with Japan earnings, China loan data, and CPI reports from across the region. Chapters: US (03:46), Europe (09:10), Asia (14:05).

In this episode, Anthony Cheung and Stephen Barnett discuss the latest news in finance, including Nvidia's cash management and potential M&A strategies, BlackRock's aggressive acquisitions in private markets, ongoing antitrust challenges facing Google, the approval of Vodafone and 3's merger, and a shocking scandal involving Nomura's former banker. The conversation highlights the dynamics of the finance and technology sectors, regulatory challenges, and the implications of corporate strategies.*****Want to experience finance? Check out www.amplifyme.com Hosted on Acast. See acast.com/privacy for more information.

IntroductionLIVE from your ESG bath salts inhaler kit, it's a Business Pants Friday Show here at December 6th Studios, featuring AnalystHole Matt Moscardi. On today's weekly wrap up: Murder, Black women fighting back, Investor cowards, and the darkest reason imaginable for a CEO pay cutOur show today is being sponsored by Free Float Analytics, the only platform measuring board power, connections, and performance for FREE.Story of the Week (DR):The Murder of Brian Thompson, UnitedHealthcare C.E.O. DRMr. Thompson was on his way to an investors' gathering when he was killed by a masked shooter who fled on an electric bike, the police said.UnitedHealth CEO's killing unleashes social media rage against insurersAfter UnitedHealthcare CEO Shooting, Americans Express Frustration With Health Insurance IndustryKilling of UnitedHealthcare CEO prompts flurry of stories on social media over denied insurance claimsBullet casings found at the scene appear to have had the words “delay” and “deny” on them: Those words may have been a message related to “Delay, Deny, Defend,” the title of a book that discusses how health insurance companies avoid paying patients' claims. The book, by Jay M. Feinman, a professor emeritus at Rutgers Law School, was published in 2010.Murdered Insurance CEO Had Deployed an AI to Automatically Deny Benefits for Sick PeopleSlain UnitedHealthcare CEO Was Accused Of Insider Trading Amid DOJ ProbeSocial media swoons over alleged UnitedHealthcare CEO killer amid investigationBrian Thompson didn't seem to have a bodyguard, and that surprises corporate-security consultants'A wake up call': C-suite security comes into focus after UnitedHealthcare CEO's deathZero pay targets related to customers or patients: mostly revenue, operating income, cash flow from operations, EPS, return on equity Intel CEO Pat Gelsinger ousted by board after disastrous performanceIntel CFO David Zinsner and Intel products CEO MJ Holthaus were named interim co-CEOs. Frank Yeary will serve as interim executive chair.Intel has started evaluating a handful of outsiders, including former board member Lip-Bu Tan, for the role of chief executiveIntel's board is mostly evaluating outsider candidates for the role and has also approached Marvell Technology CEO Matt MurphyFormer ASML CEO Eric Meurice and Microchip interim CEO Steve Sanghi will join Intel's board effective immediately.Gelsinger had 20% influenceNext four directors had combined 45%, including YearyStellantis CEO Carlos Tavares abruptly quits as US Jeep, Ram sales falterInfluence:Tavares 16%Chair John Elkann 13%Senior Independent Director Henri de Castries 20%Tesla CEO Elon Musk loses bid to get $56 billion pay package reinstatedA Delaware judge upheld her January ruling in a case brought by shareholders that said the process leading to approval of the pay package was “deeply flawed.”In January, Chancellor Kathaleen McCormick voided the pay plan, ruling that Musk had individually “controlled Tesla” and dictated the terms of his compensation to a board that didn't fairly negotiate. She called the process leading to approval of that pay plan “deeply flawed.”“Even if a stockholder vote could have a ratifying effect, it could not do so here,” McCormick wrote in her opinion Monday. “Were the court to condone the practice of allowing defeated parties to create new facts for the purpose of revising judgments, lawsuits would become interminable.” Goodliest of the Week (MM/DR):DR: Namibia Elects Its First-Ever Female Leader MMVice President Netumbo Nandi-Ndaitwah was a member of the country's underground independence movement in the 1970s.DR: North Carolina Town Sues Duke Energy Over Climate ChangeCarrboro accused Duke, one the nation's largest utility companies, of ignoring data about climate change while increasing use of fossil fuels.Carrboro Mayor Barbara FousheeMM: Mattel sued over 'Wicked' dolls with porn website linkWho goes to the website URL in fine print on the back of a box?Also, did you actually go to the website? There's no nudity on the page you land on! Winning porn! XBIZ awards for best supporting acting, best all sex scene, best editing, best art direction, best art direction, best screenplay… Some dolls with the misprint on the packaging have sold for more than $100 on eBay.One "Singing Glinda" doll sold for $450 on the shopping site.Assholiest of the Week (MM):Investor governance analysts DRThis is going to sound crass, but… The murdered UNH executive is the CEO of a single division, NOT the company - he's not on the board, but the media makes it sound like the CEO is dead. He's not.If you looked at the board, you'd realize the acting CEO Andrew Witty isn't even the most influential - executive chair Stephen HelmsleyThe assassin - we can say assassin at this point, right? - had more data on the people that run the company than virtually every governance analyst I've ever met, and I was just at a conferenceThey knew who he was, where he would be, at what timeThey were even aware of an investor day at allThey knew he was the CEO of the DIVISION, they didn't target the CEO of the companyIf you invested in the company pre-murder, you made money post-murderMurderers who make me sympathize with murderersKilling of UnitedHealthcare CEO prompts flurry of stories on social media over denied insurance claimsMurdered Insurance CEO Had Deployed an AI to Automatically Deny Benefits for Sick PeopleMade me think of the Jamie Says quote: “The fault line is inequality. And its cause is staring us in the face: our own failure to move beyond our differences and self-interest and act for the greater good.”Jamie Dimon, 4/7/2021Anyone who calls any company anywhere “woke”Disney Agrees to $43.3 Million Settlement in Suit Alleging It Paid Women Less Than Men"Why do I have to have a Marvel that's all women? Not that I have anything against women, but why do I have to do that? Why can't I have Marvels that are both?”Nelson Peltz, 4/3/2024Cowards and liarsTexas and GOP states sue BLK, Vanguard, State StreetAll withdrew from Climate Action 100+ in a show of fun cowardice, here's what they got:Rather than individually wield their shareholdings to reduce coal output, therefore, Defendants effectively formed a syndicate and agreed to use their collective holdings of publicly traded coal companies to induce industry-wide output reductions. To be sure, earlier this year BlackRock and State Street publicly proclaimed that they withdrew from one of the organizations that they previously used to coordinate their anticompetitive conduct, Climate Action 100+. But formal withdrawal from that one organization does not change the reality that Defendants' holdings threaten to substantially reduce competition in violation of Section 7 of the Clayton Act. Nor does it negate the ongoing and future threat of Defendants' coordinated anticompetitive conduct or absolve Defendants of their legal liability for past violations.Coca-Cola accused of quietly dropping its 25% reusable packaging targetRacial diversity falling among new corporate directors: Conference BoardAT&T CEO: If Trump slashes taxes, we will invest more in American infrastructureHeadliniest of the WeekDR: Nomura boss takes pay cut after employee 'tried to kill clients' MMThe worker allegedly stole money from clients and set fire to their home after visiting them on 28 July this year.Nomura apologised to the alleged victims, and said CEO Kentaro Okuda would voluntarily return 30% of his pay for three months.In addition, nine other Nomura directors and executives will return 20% to 30% of their pay for the same period.MM: Volkswagen CEO Oliver Blume reportedly booed by workers after telling them he didn't live in a ‘fantasy world'Who Won the Week?DR: Amateur ESG conspiracy theoristsMM: Professional ESG conspiracy theoristsPredictionsDR: This is an easy one: C-suite security spending rises to unprecedented levelsMM: Gun controlTexas - sues Blackrock AND gets to hear the eventual new Musk pay case? Winning.

Starting next week we have monetary policy decisions from the European Central Bank, Swiss National Bank and the Reserve Bank of Australia. These along with a few key data releases set the tone for the week after which is promising to be a blockbuster week, when we have the Fed, Bank of Japan and Bank of England, plus a few central banks in Asia all on deck. We also have a special segment in this episode where we focus on the 2025 outlook for Asia. Chapters: US (01:56), Europe (08:04), Asia (13:26), Asia 2025 Outlook (14:43)

Welcome back to Going Public with Evercore's Glenn Schorr.On the latest episode of Going Public, we drop the beat on F.R.E.A.M. Paying homage to Wu-Tang Clan's song “C.R.E.A.M.” (“Cash rules everything around me”), Glenn discusses why “Fees rule everything around me” in asset management. We cover some of last quarter's most pressing topics in alternative asset management, including:How alternative asset managers balance fee generation with returns.Does major growth still lie ahead for alternative asset managers?Why “fees rule everything around me,” but so does alpha generation.Why does distribution (almost always) win in asset management?What's the most valuable aspect of a publicly traded alts manager having a public currency?What is Glenn keeping his eye on for next quarter?Making private markets more public — with expert analysisAlt Goes Mainstream has partnered with an expert who has seen the evolution of alternative asset managers from their early days.Glenn Schorr is a Senior MD and Senior Research Analyst at Evercore ISI, where he covers brokers, banks, asset managers, and trust banks as an analyst. He has covered financials since 2000 and started coverage of alternative asset managers when the first firms went public.He's consistently come up as one of the most thoughtful and well-respected analysts in the space. He balances deep research with a creative flair (just read one of the titles of his research reports and you can see his love of the game). He's been named to Institutional Investor's All-America Research Team for his coverage, most recently ranking #2 and runner up in 2023, #1 and #2 in 2022. Prior to Evercore, Glenn was a Senior MD at Nomura, serving as the lead financials analyst. Listen in as Glenn shares market stories, the evolution of alternative asset managers as businesses, the biggest and most exciting trends in private markets based on what the industry's largest players are doing, and we go “around the horn” for his analysis on the publicly traded firms. Show Notes00:00 Introduction00:38 Meet Glenn Schorr01:52 Wu-Tang Clan and Asset Management02:40 F.R.E.A.M.: Fees Rule Everything Around Me02:49 Public Investors and Revenue Streams03:47 Balancing Fee Growth and Investment Returns05:50 Talent Migration and Fee Justification06:38 Migration to Private Markets07:07 Deregulation and Its Impact09:31 Structural Challenges for Banks09:58 Growth in Alternative Asset Management12:19 Wealth Channel and Private Markets13:13 Private Equity Performance15:37 Education Process for Investors16:27 Perpetual Private Equity Products17:35 Model Portfolios: The Next Frontier21:00 Distribution and Asset Management24:24 Corporate Strategy and Partnerships in Asset Management27:10 Public vs. Private Firms29:56 Acquisitions and Growth Strategies31:09 Specialty Managers and Market Trends33:12 Big TAMs and Investment Opportunities36:15 Consolidation in the Industry38:16 Surprises and Trends in the Quarter39:44 Deployment and Investment Grade Private Credit40:03 Credit Cycles and Market Concerns41:15 Data Centers and AI Investments41:54 Size and Scale in Asset Management45:19 Bank and Asset Manager Partnerships46:15 Looking Ahead: Thoughts on the Next Quarter47:10 Conclusion and Final ThoughtsCompany Coverage and DisclosuresEvercore ISIGlenn Schorr| Ticker | Company | APO | Apollo Global Management, Inc. | BAC | Bank of America Corporation | Glenn Schorr holds a long position in equity securities of Bank of America Corporation. | BK | Bank of New York Mellon Corp. | Glenn Schorr holds a long position in equity securities of Bank of New York Mellon Corp. | BLK | BlackRock, Inc. | BlackRock, Inc. is a client of Evercore LLC, and Evercore LLC has provided investment banking services to BlackRock, Inc. in the last 12 months. | Evercore ISI or an affiliate expects to receive or intends to seek compensation for investment banking services from BlackRock, Inc. within the next three months. | Glenn Schorr holds a long position in equity securities of Blackrock Inc. | BX | Blackstone, Inc. | Blackstone, Inc. is a client of Evercore LLC, and Evercore LLC has provided investment banking services to Blackstone, Inc. in the last 12 months. | Evercore ISI or an affiliate expects to receive or intends to seek compensation for investment banking services from Blackstone, Inc. within the next three months. | An employee, employee's immediate family member, director or consultant of Evercore ISI or one of its affiliates (but not the covering research analyst or a member of the covering research analyst's household) is an officer, director or advisory board member of Blackstone, Inc. | Evercore ISI or an affiliate has received compensation from Blackstone, Inc. for investment banking services in the last 12 months. | Analyst has a financial interest in a private equity fund managed by Blackstone, Inc. | Glenn Schorr holds a long position in equity securities of Blackstone, Inc. | OWL | Blue Owl Capital, Inc | Evercore ISI or an affiliate has acted as a manager or co-manager of a public offering of securities by Blue Owl Capital, Inc in the last 12 months. | Blue Owl Capital, Inc is a client of Evercore LLC, and Evercore LLC has provided investment banking services to Blue Owl Capital, Inc in the last 12 months. | Evercore ISI or an affiliate has received compensation from Blue Owl Capital, Inc for investment banking services in the last 12 months. | BSIG | BrightSphere Investment | C | Citigroup, Inc. | An employee, employee's immediate family member, director or consultant of Evercore ISI or one of its affiliates (but not the covering research analyst or a member of the covering research analyst's household) is an officer, director or advisory board member of Citigroup, Inc. | Glenn Schorr holds a long position in equity securities of Citigroup, Inc. | BEN | Franklin Resources, Inc. | Glenn Schorr holds a long position in equity securities of Franklin Resources, Inc. | GS | Goldman Sachs Group Inc. | IVZ | Invesco Ltd. | JPM | JPMorgan Chase & Co. | Glenn Schorr holds a long position in equity securities of JPMorgan Chase & Co. | KKR | KKR & Co. Inc. | KKR & Co. Inc. is a client of Evercore LLC, and Evercore LLC has provided investment banking services to KKR & Co. Inc. in the last 12 months. | Evercore ISI or an affiliate has received comp...

MPs in the country voted to block the move after mass protests and outcry. We get the latest from our Korea Service.The boss of Japanese bank Nomura has taken a short-term pay cut after a former employee was charged with robbery of bank clients, attempted murder and arson.And it's been 30 years since Playstation first hit the shelves in Japan for the first time. We hear more from tech writer Bree Fowler

Trump's tariff announcements have started to move markets. We discuss how to interpret the latest US political developments and provide a preview of this week's all important labour market data. In Asia, the Reserve Bank of India is set to meet and may offer some dovish guidance. While in Europe, we preview the PMIs and Swiss inflation data. Chapters: US (02:18), Asia (10:08), Europe (16:14).

Inflation and policy rates are returning towards normal in many countries. This week our focus turns back towards normal market drivers. We discuss core inflation in the US and the latest set of Fed meeting minutes. Across Europe, we have a number of central bank speakers, key inflation and growth readings to watch out for, as well as Tokyo inflation, China PMIs and central bank meetings in Korea and New Zealand. Chapters: US (02:17), Europe (05:22), Korea (08:22), Rest of Asia (10:37).

Following Donald Trump's win in the US presidential elections, we outline the new policy outlook and what we think it means for the global economy and markets. We also discuss the National People's Congress in China, with the policy decisions there likely to shape investors' perceptions of both the outlook in China but also the broader impact on risk sentiment and global growth dynamics. Chapters: US (02:30), Asia (11:04), Europe (14:36)

If you support us on Patreon you may know that we have been doing Aftershows each week for ~2 years. We are releasing Aftershows from the past on Fridays for everyone's enjoyment. Overly Nomura'd Aftershow It's a Jeopardy grab-bag aftershow, submitted by listener Zach Miller—with a dash of Mario movie and Seinfeld goodness. If you have an idea for a game we can play in the Aftershow, send it to playeronepodcast@gmail.com! Thanks for your support.

It's been a busy past week with European Q3 GDP data and an expansionary UK budget, which led to a rise in European and UK bond yields. We also saw China PMI data print a tiny bit better and a pretty solid Q3 GDP growth report in the US. Over the coming week, it's crunch time in the US with the election finally upon us. We discuss how markets may react as the results start to roll in next week. We also have at least five central bank meetings to look out for, and with an expected 25bp rate cut in the US. Chapters: US (02:42), Europe (07:22), China (11:14), Rest of Asia (15:09)

To wrap up the first ever backlog month I am joined by friend of the show Mick Arcade to talk about Dirge of Cerberus: Final Fantasy VII! This game brought out some varying emotions in me. At some points I really enjoyed my time with the game and was happy it got chosen. And then at other points I was frustrated beyond belief with how the story unfolds. But with this mix of feelings is it still worth playing Dirge of Cerberus in 2024? Is this really the most Nomura-ass game you will ever play? You will have to listen to find out! Follow Mick on Twitter! https://twitter.com/mickarcade Shout-out Song: Ahead on Our Way Artist: Rifti Beats Album: Chocobo & Chill 2 https://gamechops.com/chocobo-and-chill-2/ End Song: Final Fantasy VII feat. PianoDreams Artist: Rifti Beats Album: Chocobo & Chill https://gamechops.com/chocobo/ Get Still Loading Podcast merch! https://www.teepublic.com/user/still-loading-podcast Check out the Bit by Bit Foundation! https://www.bitbybitfoundation.org/ Support the Podcast! https://www.patreon.com/stillloadingpod

Kuleen Nimkar is the head of growth at the Solana Foundation.Topics:- Solana's growth in adoption - Solana Blockchain Links - Blinks - Solana Phone - DePin projects on Solana - Hedge fund Brevan Howard's WebN Group and financial services giant Nomura's Laser Digital tokenizing on Solana- Memecoins on Solana - good or bad? - Is Solana Centralized and has the downtime issues problem been resolved? Show sponsor -

This week we witnessed some pretty material moves in markets. There was a rate cut announcement from the Bank of Canada and the theme of growth exceptionalism in the US, combined with communication from various Fed officials, has led the market to continue to unwind some of its prior aggressive Fed rate cut expectations. As we look ahead to the coming week, things are going to really heat up with US Payrolls and inflation data, European GDP, the UK budget, China PMI, and inflation reports in Indonesia and Australia. And of course, the US election race is coming down to the wire. Chapters: US (02:14), Europe (07:57), China (10:33), Rest of Asia (15:51)

I learned to live half alive / Now you want me one more timeRetro Encounter's host demonstrates contrition in today's episode, admitting on-air that there's at least one good Kingdom Hearts game out there. The panelists also discuss their favorite boss fights, Disney worlds, and character struggles of Kingdom Hearts, which might differ if you're playing on Normal, Proud, or Critical. Today our Dearly Beloved panel discovers their personal Sanctuary in Retro Encounter. Featuring: Michael Sollosi, Aleks Franiczek, Peter Triezenberg, Zach Wilkerson; Edited by Paul DennisOpening and ending music by Miles MorkriGet in Touch:RPGFan.comRPGFan ShopEmail us: retro@rpgfan.comTwitter: @rpgfancomInstagram: @rpgfancomThreads: @rpgfancomFacebook: rpgfancomTwitch: rpgfancomKingdom Hearts II on RPGFan

This week, Elise (IG: @elisemobranchii) chats with Dr. Keiko Nomura, a current post doc in the Environmental Data Science Innovation and Inclusion Lab at CU Boulder! Broadly, her research has focused on studying fisheries social-ecological systems with network analyses and geospatial tools to inform marine resource management questions. In this interview, we touch on Keiko's experience in marine citizen science, her data-driven PhD research on global conflict and how it relates to fisheries management, "Worldly Foods" (Elise's new favorite game), and more!   Main point: Stay curious and remember we're in this together!   Get in touch with us! The Fisheries Podcast is on Facebook, Twitter, and Instagram: @FisheriesPod  Become a Patron of the show: https://www.patreon.com/FisheriesPodcast Buy podcast shirts, hoodies, stickers, and more: https://teespring.com/stores/the-fisheries- podcast-fan-shop Thanks as always to Andrew Gialanella for the fantastic intro/outro music. The Fisheries Podcast is a completely independent podcast, not affiliated with a larger organization or entity. Reference to any specific product or entity does not constitute an endorsement or recommendation by the podcast. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by the hosts are those of that individual and do not necessarily reflect the view of any entity that those individuals are affiliated in other capacities (such as employers).

In this episode, we discuss the upcoming US elections, and how US economic sentiment has been holding up in the second half of the year. In Europe, the focus next week will be on flash PMIs, especially after the ECB noted that they have seen downside surprises in indicators of economic activity. Could UK public sector borrowing numbers change the game for the UK budget? In Asia, the focus is on Japan where we have crucial inflation data for October. Chapters: US (01:16), Europe (08:11), Asia (10:24)

In the night I hear 'em talk / The coldest story ever toldKingdom Hearts II, one of the most celebrated sequels in the Square Enix catalog, finally gets an episode (the first of two!) on Retro Encounter. Within, we discuss the game's dynamic combat, the earnestly made Disney worlds, and plenty about Kingdom Hearts II's mysterious black robed mostly-antagonists. Featuring: Michael Sollosi, Aleks Franiczek, Peter Triezenberg, Zach Wilkerson; Edited by Paul DennisOpening and ending music by Miles MorkriGet in Touch:RPGFan.comRPGFan ShopEmail us: retro@rpgfan.comTwitter: @rpgfancomInstagram: @rpgfancomThreads: @rpgfancomFacebook: rpgfancomTwitch: rpgfancomKingdom Hearts II on RPGFan

Central banks remain very much in focus over the coming week, with policy meetings in Europe and across Asia. We're expecting rate cuts from two of those and the theme of divergence, based on local dynamics, seems very much in play. Some central banks look set to deliver more easing than perhaps would have been expected only a month ago, but some a little less. Aside from the central banks, we'll need to watch out for fiscal policy news from China, as well as ongoing developments in the Middle East. Chapters: US (02:13), Europe (06:17), Asia (09:26), China (12:56)

Today marks the launch of a new show on Alt Goes Mainstream: Going Public with Evercore's Glenn Schorr.17 years ago, there wasn't a single alternative asset manager that was part of the public markets. Today, not only are a number of the industry's largest firms public, but in 2024, the industry's largest alternative asset manager, Blackstone, entered the S&P 500.Understanding the inner workings, strategic moves, and financial performance of the industry's largest players can help to explain many of the trends that are making alternatives become mainstream and these firms become mainstays in the financial services ecosystem.Going Public will make private markets more public with expert analysis.Glenn Schorr is a Senior MD and Senior Research Analyst at Evercore ISI, where he covers brokers, banks, asset managers, and trust banks as an analyst. He has covered financials since 2000 and started coverage of alternative asset managers when the first firms went public.He's consistently come up as one of the most thoughtful and well-respected analysts in the space. He balances deep research with a creative flair (just read one of the titles of his research reports and you can see his love of the game). He's been named to Institutional Investor's All-America Research Team for his coverage, most recently ranking #2 and runner up in 2023, #1 and #2 in 2022. Prior to Evercore, Glenn was a Senior MD at Nomura, serving as the lead financials analyst. Listen in as Glenn shares market stories, the evolution of alternative asset managers as businesses, the biggest and most exciting trends in private markets based on what the industry's largest players are doing, and we go “around the horn” for his analysis on the publicly traded firms. Show Notes00:38 Introduction to the Going Public Series and award-winning Wall Street Analyst, Glenn Schorr01:54 Glenn's Career Journey03:08 The Early Days of Alts Managers Going Public03:26 Skepticism and Challenges in Going Public04:06 Investor Skepticism and Challenges07:00 Transformation and Tipping Points09:03 Structural Tailwinds and Market Trends10:57 The Decision to Go Public vs. Staying Private12:39 Ambition and Vision in Asset Management14:51 The Distribution vs. Manufacturing Debate17:03 Lessons from Traditional Asset Management18:55 Discipline and Growth in the Alts Market20:03 The Future of Public and Private Markets20:50 The Role of Distribution in Asset Management21:59 Success Stories and Acquisition Strategies23:02 Manufacturing Competency vs. Acquisitions24:40 The Rise of Private Markets26:07 How Alternative Managers Make Money27:02 Valuation Factors for Alternative Managers28:44 Profitability and Margins in Asset Management29:23 Building a Business: Costs and Competitive Advantages29:50 The Moat of Success in Business30:15 Challenges for Traditional Asset Managers30:56 The Importance of Vision and Technology31:22 Scaling a Business with Proven Success31:40 Insurance Asset Management: Strategic Moves and Structural Advantages32:17 Structural Advantages in Asset Management33:05 The Rise of Private Credit Managers34:43 The Impact of Interest Rates on Private Credit Managers35:32 Navigating Rate Sensitivity in Capital Markets38:25 Deployment and Monetization in Asset Management39:08 The Challenge of Dry Powder in Private Equity41:14 The Role of Deployment in Investment Success41:46 The Resilience of Publicly Traded Alts Managers43:26 Spotlight on Blackstone's Growth and Innovation46:38 KKR's Global Expansion and Innovation48:41 Apollo's Market Leadership and Challenges50:11 Blue Owl's Strategic Investments and Challenges53:56 TPG's Public Transition and Growth55:11 Carlyle's Progress and Future Challenges56:11 Looking Ahead: Key Trends and ExpectationsDisclosuresEvercore ISIGlenn SchorrCompany Coverage and DisclosuresTicker      CompanyAPO         Apollo Global Management, Inc.BAC         Bank of America CorporationGlenn Schorr holds a long position in equity securities of Bank of America Corporation.BK            Bank of New York Mellon Corp.Glenn Schorr holds a long position in equity securities of Bank of New York Mellon Corp.BLK          BlackRock, Inc.Glenn Schorr holds a long position in equity securities of BlackRock Inc.BX            Blackstone, Inc.Blackstone, Inc. is a client of Evercore LLC, and Evercore LLC has provided investment banking services to Blackstone, Inc. in the last 12 months.Evercore ISI or an affiliate expects to receive or intends to seek compensation for investment banking services from Blackstone, Inc. within the next three months.An employee, employee's immediate family member, director or consultant of Evercore ISI or one of its affiliates (but not the covering research analyst or a member of the covering re advisory board member of Blackstone, Inc..Evercore ISI or an affiliate has received compensation from Blackstone, Inc. for investment banking services in the last 12 months.Analyst has a financial interest in a private equity fund managed by Blackstone, Inc.Glenn Schorr holds a long position in equity securities of Blackstone, Inc.OWL         Blue Owl Capital, Inc.Evercore ISI or an affiliate has acted as a manager or co-manager of a public offering of securities by Blue Owl Capital, Inc in the last 12 months.Blue Owl Capital, Inc is a client of Evercore LLC, and Evercore LLC has provided investment banking services to Blue Owl Capital, Inc in the last 12 months.Evercore ISI or an affiliate has received compensation from Blue Owl Capital, Inc for investment banking services in the last 12 months.BSIG        BrightSphere InvestmentC               Citigroup, Inc.An employee, employee's immediate family member, director or consultant of Evercore ISI or one of its affiliates (but not the covering research analyst or a member of the covering re advisory board member of Citigroup, Inc.Glenn Schorr holds a long position in equity securities of Citigroup, Inc.BEN          Franklin Resources, Inc.Glenn Schorr holds a long position in equity securities of Franklin Resources, Inc.GS            Goldman Sachs Group Inc.IVZ           Invesco Ltd.JPM        &nb...

This week's Espresso covers news from Xeptiva, Gibb, and more!Outline of this episode:[00:27] – Biotech Xeptiva raises $2.5M to develop veterinary vaccines[00:41] – ExcelCredit raises $50M from Nomura[00:56] – Gibb raises $5.5M from SRM Ventures[01:07] – Mercado Pago launches digital wallet in Colombia[01:24] – Interview with Gustavo Jiménez from BCP[01:42] – LatamList's bi-weekly overview of the Latin America startup sceneResources & people mentioned:Startups: Xeptiva, Gibb, Mercado Pago, Mercado Libre, ExcelCreditVCs: Zentynel, SRM Ventures, NomuraPeople: Gustavo Jiménez