Carve-outs are set to define global mergers and acquisitions in 2026 as boards simplify portfolios under mounting geopolitical pressures and fast-moving disruption from artificial intelligence, according to KPMG. https://t.co/ToVyygkmYP ...

Core Insights - The article emphasizes the need for active management in the context of disruptive technologies due to evolving regulatory frameworks [1] - KPMG's report highlights the importance of regulations to mitigate risks associated with cybersecurity, identity theft, and other safety concerns as disruptive technologies advance [1] - Fidelity's Disruptive Technology ETF (FDTX) is positioned to adapt to regulatory changes, allowing for strategic adjustments in holdings to capture potential upside or minimize downside risk [1] Regulatory Landscape - Disruptive technologies such as AI, machine learning, and robotics necessitate updated regulations at both federal and state levels [1] - New laws could significantly impact companies in the disruptive tech sector, requiring a flexible investment strategy [1] - The regulatory evolution aims to protect the public from emerging threats associated with disruptive technologies [1] Active Management Benefits - FDTX's active management allows portfolio managers to reorient holdings in response to new regulations, potentially benefiting from companies that align with these changes [1] - The fund can reduce exposure to companies that may face increased risks or volatility due to regulatory shifts [1] - Portfolio managers utilize both fundamental and quantitative analysis to evaluate companies' financial health and market conditions [1] Fund Composition - FDTX includes a diverse range of companies involved in big data, SaaS, cybersecurity, e-commerce, consumer technologies, rideshare, and next-generation hardware [1] - The fund primarily focuses on U.S. equities but also seeks opportunities outside the U.S. [1] - As of December 31, top holdings include major players like Nvidia, Microsoft, and Amazon, indicating a tilt towards large-cap growth exposure [1]

Core Insights - S&W has appointed Alexandra Bray as a partner in the business tax team at its Bristol office, bringing over 15 years of industry experience and a client-focused approach [1][2][4] - The appointment is part of a broader investment strategy in the senior team at the Bristol office, which includes recent hires and internal promotions [2][3] - Bray will focus on expanding S&W's business tax presence in the South West, collaborating with regional and national colleagues to enhance market relationships and provide strategic advice [3][4] Company Developments - S&W's Bristol office has seen significant growth, with the addition of Graham Charlton as a partner in private client tax services and Dan Goodall as a consulting partner [2] - Internal promotions include Lynne Blakey and Sabial Hanif, who have been elevated to partner status, indicating a commitment to developing talent within the firm [3] - Bray expressed enthusiasm about re-joining S&W during a pivotal growth phase, highlighting the firm's strong reputation for supporting ambitious businesses [4]

SAN FRANCISCO, Feb. 02, 2026 (GLOBE NEWSWIRE) -- Fieldguide, a leading agentic AI-native platform for audit and advisory, today announced a $75 million Series C led by Growth Equity at Goldman Sachs Alternatives, with participation from new investor, Geodesic, and existing investors Bessemer Venture Partners, 8VC, and Thomson Reuters. The financing brings Fieldguide’s total funding to $125 million and values the company at $700 million. Audit and advisory firms are facing a structural capacity problem. Regu ...

Like many of his fellow accountants, Jin Chang tried to quit the industry several times because of the tedium of grunt work. That was until 2020, when he had the idea to build software that could automate the more banal aspects of the job at a time when the accounting profession was hemorrhaging talent. The result, Fieldguide, predated the rise of ChatGPT, though its artificial-intelligence-native approach was buoyed by the success of generative AI. On Monday, Fieldguide announced a $75 million funding ...

UGI logo Key Points All 10 director nominees were re-elected, including Chair Mario Longhi and CEO Bob Flexon, at UGI’s virtual 2026 annual meeting where a quorum was established. Shareholders approved the advisory "say-on-pay" vote for the compensation of UGI’s named executive officers, in line with the board’s recommendation. Shareholders ratified KPMG as UGI’s independent registered public accounting firm for fiscal 2026, with final results to be reported on a Form 8-K. Interested in UGI Corporat ...

Core Insights - President Trump's proposals aim to make housing more affordable by focusing on lowering mortgage rates without significantly impacting home prices [1][9] - The administration's strategy raises questions among economists about whether reducing borrowing costs alone can effectively address housing affordability issues [2][9] Economic Impact - Housing affordability is crucial for families to purchase homes, build wealth, and feel financially secure, influencing broader economic growth through consumer spending [3] - Protecting existing homeowners' wealth may support consumer spending but could maintain high prices as a barrier for new buyers [3] Policy Focus - Trump's housing policies have primarily targeted mortgage rates, including instructing Fannie Mae and Freddie Mac to purchase $200 billion in mortgage bonds to lower borrowing costs [6] - The introduction of longer 50-year mortgages is also proposed to provide more options for homebuyers [6] Supply and Demand Dynamics - An increase in housing supply could lower home prices, but current low inventory levels may counteract affordability gains from lower mortgage rates [7] - Trump's executive order to limit large institutional investor purchases aims to increase housing supply, though it may only affect a small portion of the market [12][14] Wealth Effect - Higher home values contribute to consumer spending, with the "wealth effect" indicating that increased housing wealth can lead to greater consumer expenditure [10] - Consumer spending has remained strong, with a reported increase of 0.3% in both October and November, supported by affluent consumers benefiting from wealth effects [11]

Financial Performance - The total cloud backlog reached EUR 77 billion, up 30% year-on-year, indicating strong underlying business momentum [7][14][26] - Cloud revenue grew 26% year-on-year, primarily driven by the strong performance of the Cloud ERP Suite, which increased by 32% [27][29] - Total revenue for the full year approached EUR 37 billion, up 11% [29] Business Lines and Key Metrics - The Cloud ERP Suite accounted for 86% of total cloud revenue, highlighting its significance as a growth engine [27] - The number of customers using the AI copilot tool grew ninefold over the year, with 60% of existing cloud customers actively using SAP's AI offerings [6][54] Market Performance - Strong performances were noted in Brazil, France, Germany, India, Italy, South Korea, and Spain, while China, Japan, Saudi Arabia, the UK, and the US also showed significant strength [28] - The company outperformed the cloud market by 10 percentage points in 2025 [15] Company Strategy and Industry Competition - The ongoing transformation of SAP's operating model, combined with AI integration, has positioned the company to capitalize on business AI opportunities [8][20] - The company is focused on a Partner-First approach for mid-market growth and expanding its sovereign cloud capabilities [12][16] Management's Comments on Operating Environment and Future Outlook - Management acknowledged geopolitical uncertainties and macroeconomic volatility but expressed confidence in the company's ability to drive growth through AI and cloud solutions [4][23] - The company expects a record free cash flow of approximately EUR 10 billion in 2026, supported by operational efficiency improvements [32] Other Important Information - The non-IFRS cloud gross margin for the full year expanded by 1.6 percentage points to 75%, driving cloud gross profit up by 29% [28] - A new two-year share repurchase program of up to EUR 10 billion is set to start in February, reflecting confidence in the business's sustainable strengths [30] Q&A Session Summary Question: Concerns about CCB growth and deal slippage - Management noted that the 25% CCB growth was impacted by a higher share of large deals with longer ramp periods and some government deals with termination clauses [38][40] Question: AI-driven cost efficiencies - The company aims to achieve EUR 2 billion in cost efficiencies through business growth without a restructuring plan, focusing on scaling operations with AI [44][46] Question: Customer adoption of AI offerings - Approximately 60% of existing cloud customers are actively using SAP's AI, with a significant increase in adoption noted [54][56] Question: Future cloud revenue growth trajectory - Management indicated that while some deceleration is expected, it will be less than in 2025, with a strong pipeline for 2026 [66][68]

Core Viewpoint - The board of directors of MT Højgaard Holding A/S will propose Torben Bender for election to the board, replacing Pernille Fabricius, who is resigning after 12 years of service [1]. Group 1: Candidate Profile - Torben Bender, 58 years old, is a Danish citizen and a qualified state-authorised public accountant [2]. - He has a decade of experience at EY Denmark, serving as CEO and country manager, and was Chairman of the board until 2024 [2]. - Bender began his career in the auditing industry in 1991 at KPMG [2]. Group 2: Board Experience and Competencies - Bender is currently a board member of UNICEF Denmark, chairing the Risk and Audit Committee, and has held positions in various organizations including the Board Leadership Society and DI Rådgiverne [3]. - His competencies include financial management, auditing, reporting in listed companies, M&A, management, and strategic development [4]. - He has experience in the construction industry as an auditor for several companies, including MT Højgaard Holding, where he served as the general meeting-elected auditor until 2023 [4]. Group 3: Strategic Importance - The election of Bender is part of a generational change in the board initiated last year, aimed at aligning the board's composition with MT Højgaard Holding's strategic opportunities [5]. - Chairman Morten Hansen expressed satisfaction with attracting a competent profile like Bender to the board [5].

H-1B Visa Freeze - Texas Governor Greg Abbott has ordered a freeze on new H-1B visa petitions for state agencies and universities, emphasizing that jobs should be allocated to qualified Texans instead of immigrants [1][2] - The decision is based on reports of abuse in the federal H-1B visa program and aims to ensure that American jobs are prioritized for American workers [2][3] - State agencies and public institutions must obtain written permission from the Texas Workforce Commission to petition for new H-1B workers [4] Reporting Requirements - Agencies and universities are required to report by March on the number of new H-1B petitions and renewal requests submitted last year, as well as the number of H-1B visa holders they currently sponsor [5] Impact on Employment - The private sector employs the majority of H-1B visa holders, with Cognizant Technology Solutions, Infosys, and Oracle being the top three employers [6] - Abbott's order is expected to significantly impact public universities and hospitals, which employ hundreds of H-1B workers [7] Ban on China-linked Companies - In addition to the H-1B visa freeze, Abbott announced a ban on China-linked tech companies from state systems to prevent data harvesting and exploitation of state systems [8] - The ban targets 26 Chinese or China-linked companies, including Alibaba and Shein, to protect the privacy and security of Texans [9] - The restrictions were expanded following a threat assessment by the Texas Cyber Command [10]