Jeffrey Goldfarb is a New York-based assistant editor with a focus on Wall Street, private equity, M&A and the media industry. Before becoming a columnist, Jeffrey wrote about banking, deals, international trade, healthcare and the Internet. From London, he oversaw Reuters’ reportage on the European media sector and later ran the corporate finance team. Jeffrey joined Breakingviews in November 2007, where he helped lead the service’s coverage of the financial crisis. Jeffrey has a master’s in journalism from Columbia University and a bachelor’s degree in finance from The George Washington University.
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The buyout firm generated record quarterly earnings, in stark contrast to Wall Street’s slog. It’s the latest sign of a power shift from banks to shadow banks, broadly defined. Having confined big lenders, watchdogs could pick up the scent on Steve Schwarzman and his ilk.
Most of them will be thrilled at the IPO, even though to get it away the boutique adviser slashed the price and number of shares. The debut values Moelis at $1.3 bln, however, below Sumitomo’s 2012 buy-in. Greenhill, Lazard and Evercore all would have been better bets.
These days it isn’t a big stretch to liken pipes carrying internet access to those carrying water or electricity. When utilities merge, though, regulators want consumers to share the spoils. If approached that way, Comcast’s Time Warner Cable takeover might raise fewer hackles.
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