Bloomberg The National Football League’s grip on US audiences keeps growing and that could spell trouble for Fox Corp. when it comes back to the negotiating table, according to the stock’s lone bear. Bank of America Corp. double downgraded the Lachlan Murdoch-run Fox to underperform from buy on Wednesday and assigned it a $45 price target, the lowest on Wall Street. The worry is that the traditional media company is too heavily reliant on the NFL and negotiations could slash earnings by roughly 20%. Mo ...

That a move to limit withdrawals from a $1.6 billion fund drove a $2.4 billion drop in Blue Owl's market value shows shareholders' skittishness. Investors in the fund, known as OBDC II, have been gated for months as the firm pursued and then abandoned a plan to merge it with another of its vehicles. Blue Owl is now selling roughly one-third of OBDC II's loans and handing 30% of investors' money back to them, a move the firm says is accelerating, not slowing, the overall return of capital. When redemptions w ...

Core Viewpoint - Blue Owl Capital's decision to limit redemptions from its private credit fund has raised concerns about the potential risks in the $1.8 trillion private credit market, leading to significant stock price declines for Blue Owl and its peers [1][3][12]. Group 1: Blue Owl Capital's Actions - Blue Owl Capital announced that investors in Blue Owl Capital Corp II (OBDC II) will no longer be able to redeem shares quarterly, instead opting for periodic distributions funded by loan recoveries, asset sales, or other transactions [3][4]. - The company has sold approximately $1.4 billion in direct loan investments at a face value of 99.7% to provide promised liquidity to investors [3][6]. - Blue Owl's stock price has dropped over 15% this month, reflecting growing investor concerns about the private credit industry amid market valuation issues and the quality of loans to highly leveraged companies [5][12]. Group 2: Market Reactions and Implications - The stock price decline of Blue Owl has negatively impacted the broader market, dragging down shares of other private equity firms such as Ares Management, Apollo Global Management, and Blackstone [1][3]. - Analysts have described the stock price drop as an overreaction, noting that OBDC II had already suspended redemptions since November [9][10]. - The sale of loans is seen as a positive step for liquidity, with analysts suggesting it establishes an efficient process for returning capital to investors [6][8]. Group 3: Broader Industry Context - Bank of America has committed $25 billion to private credit transactions, joining other major banks in increasing their involvement in this rapidly growing market [12][14]. - The private credit industry has seen significant expansion, with firms like Ares Management and Apollo Global Management heavily investing in this sector [13][14]. - The relationship between banks and alternative asset management firms is becoming increasingly complex, with banks sometimes viewing private credit growth with skepticism [14].

Buffett Dumps More Apple - 24/7 Wall St.[S&P 5006,872.60 +0.30%][Dow Jones49,634.00 +0.14%][Nasdaq 10024,831.60 +0.45%][Russell 20002,648.07 +0.01%][FTSE 10010,675.00 +0.95%][Nikkei 22557,158.00 +0.18%][Investing]# Buffett Dumps More Apple### Quick ReadBuffett Has Been Selling Apple For Several QuartersApple Has Not Moved Into AIBuffett May See Limits To iPhone Sales- Are you ahead, or behind on retirement? [SmartAsset's free tool] can match you with a financial advisor in minutes to help you answer that to ...

By Denise Wee and Ambereen Choudhury   Standard Chartered Plc Chief Financial Officer Diego De Giorgi, one of the front-runners to eventually replace long-time Chief Executive Officer Bill Winters, unexpectedly resigned after about two years in the role.    He will be replaced by deputy CFO Peter Burrill on an interim basis as the London-based firm seeks a permanent replacement in “due course,” according to a statement.   De Giorgi, who joined the bank in September 2023, will take on a role at Apollo Gl ...

Photographer: DAX Images/NurPhoto/Getty Images Leia em português PicS NV, the fintech controlled by the billionaire Batista family, raised $434 million in a US initial public offering in the first significant debut for a Brazilian company in more than four years. Most Read from Bloomberg PicPay, as the company is known, sold 22.86 million shares at $19 each, the top of the marketed range, according to a statement confirming an earlier Bloomberg News report. The digital bank offered shares for $16 to $ ...

Core Insights - Morgan Stanley has filed for an Ethereum Trust with the SEC, marking its third crypto ETF filing in 48 hours after registering Bitcoin and Solana trusts [1][6]. Group 1: Ethereum Trust Details - The Morgan Stanley Ethereum Trust will be a passive investment vehicle that holds ether directly and values shares daily based on a pricing benchmark from major trading venues [2]. - The trust plans to stake a portion of its ETH holdings and distribute rewards to shareholders at least quarterly, subject to IRS guidance [2][3]. - This structure allows investors to earn staking yield while holding shares in a traditional brokerage account, with a staking program implemented to earn network rewards while managing liquidity for redemptions [3]. Group 2: Wall Street's Crypto Expansion - The filings come as regulators under President Trump have adopted a more accommodating approach to crypto markets, enabling traditional financial firms to expand ETF offerings tied to digital assets [4]. - Morgan Stanley has broadened access to crypto funds for all clients, including those with retirement accounts, after previously limiting exposure to high-net-worth individuals [4]. - The bank partnered with Zerohash to enable trading of Bitcoin, Ethereum, and Solana through its E*Trade platform, following similar moves by Bank of America [5]. Group 3: Industry Shift - Morgan Stanley's rapid filings for Bitcoin and Solana Trusts represent a significant shift for Wall Street, indicating a growing acceptance of digital assets [6][7]. - The simultaneous movement of major banks like Goldman Sachs, JPMorgan, and Bank of America into crypto ETFs signals a structural change in how Wall Street perceives digital assets [7].

Group 1: Major Developments in Crypto ETFs - Morgan Stanley has filed to launch Bitcoin and Solana ETFs, marking a significant move by a major U.S. bank into the crypto space [1][2] - The bank's push follows its recent expansion of crypto access to all clients and aligns with Bank of America's plans to allow wealth advisers to recommend crypto allocations [2] Group 2: Market Trends and Inflows - Spot Bitcoin ETFs experienced net inflows of $1.16 billion within two days, indicating strong market interest [1] - BlackRock's iShares Bitcoin Trust saw the largest single-day inflow for any Bitcoin ETF, totaling $372.47 million, contributing to its total net assets of $73.39 billion [4] - Other Bitcoin ETFs also reported positive inflows, with Fidelity's Wise Origin Bitcoin Fund attracting $191.19 million [4][5] Group 3: Broader Crypto Market Sentiment - Spot Ethereum ETFs recorded net inflows of $168.13 million, alongside gains in newly launched altcoin ETFs tracking XRP, Solana, Dogecoin, and Chainlink [6] - Analysts suggest that improving market sentiment and institutional participation could lead to sustained price gains through 2026 [7] - Factors such as tax-loss harvesting shifting to long positions and increased confidence in regulated crypto vehicles are contributing to a better risk appetite [8]

Company Overview - MiniMed Group Inc. is a diabetes management firm that is set to separate from Medtronic Plc and has filed for an initial public offering (IPO) [1][4] - The company has been part of Medtronic for nearly 25 years and offers a full ecosystem of automated insulin pumps, continuous glucose monitors, and smart insulin pens [3] Financial Performance - For the six months ended October 24, MiniMed reported a net loss of $21 million on revenue of $1.5 billion, an improvement from a net loss of $23 million on revenue of $1.3 billion in the same period the previous year [2] - The company generated approximately $2.7 billion in annual revenue for fiscal year 2025, with recent double-digit percentage growth [3] IPO Details - The IPO filing positions MiniMed to potentially debut in early 2026, alongside other companies such as EquipmentShare.com Inc. and Arko Petroleum Corp. [2] - Goldman Sachs Group Inc., Bank of America Corp., Citigroup Inc., and Morgan Stanley are leading the offering, with shares expected to trade on the Nasdaq Global Select Market under the symbol MMED [5] Corporate Structure and Future Plans - Medtronic will retain at least 80.1% of the voting power post-separation, and plans to distribute shares to investors in a tax-efficient manner, potentially as a spin-off [4] - MiniMed intends to use part of the IPO proceeds to repay intercompany debt owed to Medtronic [4]

Monetary Policy Impact - Federal Reserve's Treasury bill purchases may restrain long-term yields [1] - Bank of America Corp interest-rate strategists suggest potential yield impact [1] Banking System Liquidity - Treasury bill purchases aim to maintain adequate cash levels in the banking system [1]