Mergers and Acquisitions (M&A)

825 in Finance and 305 in Crypto last week

Minutes Network Collaborates with Smart Energy Water to Reach 1.2 Billion Users

Minutes Network has announced a significant collaboration with Smart Energy Water, aiming to bring 1.2 billion users to its platform in the next 24 months. Leveraging SEW’s AI-driven customer and workforce experience platforms, Minutes Network’s CEO, Josh Watkins, expressed confidence in the integration’s potential to transform scale, reach, and revenue. The partnership marks the beginning of a series of scale integrations, with a focus on bringing a growing slate of applications online.

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Netmarble’s Marblex Partners with Immutable for Ethereum Gaming Migration

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Netmarble’s Marblex is migrating its gaming ecosystem to Ethereum’s layer-2 network Immutable zkEVM, in partnership with Immutable. The collaboration will also include a $20 million “Ecosystem Boost Program” to attract new titles to Marblex and Immutable. Additionally, Studio369 is launching its Ethereum token alongside the third phase of its closed beta for the sci-fi mech shooter MetalCore, introducing new gameplay modes and economic features.

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Stock Market Update: Dow Rises, Nasdaq Falls; OpenAI, Novo Nordisk, Paramount Global Developments

The Dow Jones rose while the S&P 500 and Nasdaq fell, with Nvidia declining 6.7%. OpenAI revised its stock sale policies, Novo Nordisk is investing $4.1 billion in a new manufacturing facility, and Paramount Global is hiking its streaming prices. Disney and Pixar’s “Inside Out 2” is on track to join the billion-dollar club, becoming the highest-grossing film of 2024.

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Generational Shift in Leadership at Fisch Asset Management

A new generation takes a seat on the board of Fisch Asset Management, as Alexander Fisch, a second-generation representative, joins as a director. This move signals continuity in the company’s strategy, with the founders emphasizing the commitment to maintaining the existing approach. Alexander Fisch, a lawyer specializing in corporate finance and M&A, replaces long-standing board member Marco Müller, ensuring a seamless transition in leadership.

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Zurich Insurance Group Expands in India with 40% Workforce Increase

Zurich Insurance Group is expanding its majority stake in Kotak Mahindra General Insurance in India, with plans to increase its workforce by 40% or 600 employees over the next three years. This move follows the recent acquisition of a 70% stake in Kotak Mahindra General Insurance for $670 million, making Zurich the first foreign insurer to establish a presence in India after investment limits were relaxed in 2021. Tulsi Naidu, CEO for Asia-Pacific, views India as a “super important, super attractive market” and sees opportunities for insurance in small and medium-sized businesses, security, auto, and general insurance.

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Stock Market Update: Alnylam Pharmaceuticals Soars, Tech Stocks Weigh Down Market

Alnylam Pharmaceuticals, Trump Media & Technology Group, Carrier Global, and Planet Fitness are up, while ResMed, Qualcomm, Nvidia, and cryptocurrency-linked stocks are down. Weakness in chip stocks and AI hardware companies is pressuring the broader market. Earnings reports for Beyond Air Inc, Eagle Pharmaceuticals Inc/DE, Enerpac Tool Group Corp, and Luna Innovations Inc are expected on 6/24/2024. The S&P 500, Dow Jones Industrials, and Nasdaq 100 indexes are mixed, with technology stock weakness weighing on the Nasdaq 100. The markets are awaiting the US May core PCE deflator release and are discounting the chances for a rate cut at the next FOMC meetings. Generally positive Q1 earnings results are supportive of stocks. Overseas stock markets are mixed, and interest rates are under pressure. Meta Platforms, International Business Machines, Target, and RXO Inc are among the US stock movers.

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Boris Collardi’s Venture into Football Talent Search and Club Ownership

Boris Collardi, former CEO of Julius Bär and successful investor with EFG International, is now venturing into football with a goal to find the next Kylian Mbappé. He aims to democratize talent scouting through an electronic platform and has already launched a social network called Footbao in Brazil. Additionally, Collardi holds a stake in the Serie A club Lecce and emphasizes the necessity of bank consolidations in Switzerland due to industry pressures.

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AI Crypto Fetch.ai (FET) Gains Momentum Ahead of Artificial Superintelligence Alliance Merger

AI crypto Fetch.ai (FET) surged 28% ahead of its merger with other AI tokens into the Artificial Superintelligence Alliance (ASI) on July 15th. The bullish momentum is fueled by the booming AI market, upcoming alliance, and a 210% spike in trading volume, but concerns arise over potential overbought territory and mixed user sentiment, exacerbated by a recent delisting scare on Binance.

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