FT News Briefing CVC hopes third time’s the charm
Apr 16, 2024
Goldman Sachs surprises with a nearly $1 billion profit surge, showcasing its trading prowess. CVC Capital Partners is pushing for a public listing, navigating a complex history of previous attempts. Meanwhile, Tesla announces a 10% workforce reduction amidst mounting competition. The Darién Gap emerges as a dangerous migration route for those fleeing economic turmoil and violence in Latin America, revealing the challenges faced by migrants and the global implications on migration and politics.
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Goldman Sachs' Turnaround
- Goldman Sachs' Q1 profits exceeded estimates, driven by investment banking and trading.
- This turnaround follows criticism of CEO David Solomon's focus on consumer banking.
CVC's IPO
- CVC Capital Partners plans to list on the Amsterdam Stock Exchange, marking a significant IPO.
- The listing will split revenue streams, with public investors focusing on steady management fees.
CVC's Path to IPO
- CVC, a major European private equity firm, has attempted to go public multiple times.
- Geopolitical events disrupted previous IPO attempts, but this time they are proceeding.