Private companies pivot to conserve cash to await the eventual opening up of the IPO market

Private equity and venture capital-backed companies are faced with conserving cash and shoring up costs in the choppy stock market of 2022, as capital from initial public offerings and syndicated debt markets dries up, investment executives at Goldman Sachs said. Private debt providers have been able to step in to provide capital in a challenging … Read more

Business grants are tough to get, but not impossible—here are tips on how to get one

Business grants may seem like the holy grail for small-business owners, since they offer cash you don’t have to pay back. But finding one can feel as futile as searching for lost treasure. “Everybody wants to know: How do I get free money for my business?” says Jenn Steinfeld, director of entrepreneurship and economic development … Read more

Goldman Sachs’ European ECM and leveraged finance team hit hardest by layoffs

Goldman Sachs’ equity capital markets and leveraged finance teams bore the brunt of its latest cut-backs in its European investment bank. The US investment bank has laid off 12 bankers across the two teams, according to people familiar with the matter, after Goldman informed London staff of the cuts earlier this week on 20 and … Read more

Salesforce stock slumps after trimmed earnings and sales forecast outweigh first major stock-buyback plan

Salesforce Inc. executives trimmed their forecast for the year and projected a worse third quarter than Wall Street expected Wednesday, while promising billions in stock repurchases for the first time. Salesforce CRM, +2.28% reported second-quarter profit of $68 million, or 7 cents a share, on revenue of $7.72 billion, up from $6.34 billion a year … Read more

Regulators worry that hedge funds could spark the next financial crisis

In the wake of the 2008 financial crisis, regulators have kept close tabs on America’s largest banks, subjecting them to regular stress testing and imposing new rules meant to ensure their safety during periods of financial turmoil. These new rules may have made the banking system safer, experts say, but they have also fueled the … Read more

Apple follows up ‘resilient’ earnings, swift iPhone sales with debt deal that could reach $6.5 billion

Apple Inc., fresh off upbeat quarterly results tied to robust iPhone sales, rolled out a four-part bond deal on Monday to raise new debt. The new deal from Apple AAPL, -0.47% could raise up to an estimated $4 billion to $6.5 billion for the technology giant through the issuance of four series of bonds with … Read more

EY plan to split audit and consulting arms slowed down by leadership shifts, debt

Ernst & Young’s effort to split its audit and consulting businesses has been slowed by a change in its US leadership, as well as complications over its multibillion-dollar debts, according to people familiar with the matter. A “go or no-go” decision by the Big Four accounting firm’s senior executives, originally scheduled for June, is now … Read more