Wall Street banks eagerly awaited a billion dollar IPO from U.S. tech company CoreWeave, but the underwriting fees were lower than historical averages at just 2.8% of total proceeds. The lackluster performance of CoreWeave’s stock after its debut, coupled with concerns about its business model and debt levels, have dampened investor confidence in a market revival. Morgan Stanley, JPMorgan Chase, and Goldman Sachs led the deal, with Morgan Stanley potentially receiving over 30% of the total payout for its role as lead bank.
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Keir Starmer’s balancing act on Iran risks political pain at home
In the context of escalating tensions between the US and Iran, UK Prime Minister Keir Starmer discussed diplomatic efforts with Donald Trump, stressing the importance of negotiations. This situation may complicate Labour’s political stance ahead of upcoming local elections, particularly impacting its support among liberal and Muslim voters as concerns about global dangers grow. Need More Context? 🔎
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